LINK


Thanks olegos for posting this link on MSN Online banking board.

Here are some fees that the new checking account has:

Overdraft Line of Credit. You pay interest if your balance drops below zero and you use your Overdraft Line of Credit. Unlike traditional banks, Electric Orange does not charge a fee to use your overdraft, and there's no fee to sign up. If you use it, you will only pay interest on the amount you borrow.

Overnight Delivery of a Check. If you use our Send Paper Checks service to send payments via overnight courier, in those instances when you need to send money for next day delivery, the cost is $15. (1st class mail Send Paper Checks delivery is free.)

Overnight Delivery of a Replacement Card. If you request to have a replacement Electric Orange Card sent to you via overnight courier, there is a $25 fee. There is no charge for standard delivery of a replacement Card.

Stop Payment. If we succeed in processing your request to place a stop payment on a check that was sent using the Send Paper Checks feature or the Free Bill Pay feature, there is a $25 Stop Payment charge. (For more info on this, please see the Stop Payments section.)

Foreign Currency Conversion. We may charge you a fee of up to 2.00% of each cash advance or purchase that you make in a foreign currency after it is converted to U.S. Dollars. This fee is in addition to the fee that MasterCard® may charge as part of converting the purchase to U.S. Dollars.

This product is going live for current customers, I think. (Login and check the "open a new account" button on left)

More info from ING Direct: https://secure.ingdirect.com/myaccount/INGD...angeProductPage


America's first all–electronic, paperless checking account is going to change the way you do your banking. Earn a great rate and get great features like online Free Bill Pay, easy access to cash, an Electric Orange MasterCard® debit card and more – Electric Orange provides the access and convenience of checking with the earning power of savings.

Make money while managing your money.
With Electric Orange, you'll earn high interest on all balances.

Electric Orange Balance Interest Rate APY Effective Date
$0-$49,999.99 2.96% 3.00% 11/29/2006
$50,000.00-$99,999.99 4.94% 5.05% 11/29/2006
$100,000.00 or more 5.18% 5.30% 11/29/2006

For example, if your balance is $55,000, you earn a great 5.05% APY on the entire balance.

MasterCard® Debit Card convenience.
With your Electric Orange MasterCard® Debit Card you can make secure purchases anywhere MasterCard® is accepted – sign the receipt or enter your Card PIN and go.

Free ATM access at more than 32,000 ATMs nationwide.
Make free cash withdrawals at ATM locations in all 50 states through the Allpoint™ Network – America's largest Surcharge–Free ATM Network. To find a free ATM near you, check out the ATM locator.

Send money securely for free with Electric Checks.
With Electric Orange, you can send money to an individual's bank account with Electric Checks for free. Simply enter the person's information, the details of the payment, and an email will be sent to the recipient. The person can click on the link within the email to go to a secure page to enter their account information and the money is transferred!

Automatic protection with your Overdraft Line of Credit.
Say goodbye to excessive NSF fees charged by other banks. When you open your Electric Orange, you'll automatically get an Overdraft Line of Credit that's connected right to your Electric Orange and is accessed anytime your balance goes below $0.00. There's no fee to use the line of credit – you'll just pay a competitive interest rate on the money you need to borrow.

Safe, Secure and Smart.
You can rest easy knowing the money in your Electric Orange is FDIC-insured (read more about FDIC insurance). It's also protected by our unique and innovative PIN Guard PIN entry process. Plus, you can set up secure Email Notifications to tell you if a card transaction is over a certain amount, or if your balance drops below a certain level.

Yep... I was able to open a checking account.. in ~ 20 or so seconds. Thanks for the info, Vivyip!

Mark