United States Products, Services and Operations

ING Diect is the marketing name of ING Bank, fsb, a branchless or virtual bank in the United States that was founded in 2000.

Orange Savings Accounts

ING Diect is often considered to be a leader in the online savings account market. While they do not always have the highest available interest rates, they are often near the top, with the present interest rate being 4.41% with an APY of 4.50%. To deposit money in to an Orange Savings account, ING Direct allows users two possible methods; the first being electronic check from another checking or savings institution. To do this, ING Direct will ask for your account number, routing number, and personal information so that they're able to perform the electronic check process. ING Direct however only allows one account to be set up in this fashion. To set up additional accounts a user has to send a check for a minimum of $1.00 to ING Direct's offices. Another popular method to deposit money into an ING Direct savings account is through direct deposit, which can be set up through the customer's employer or banking institution.

Electric Orange Checking

Electric Orange is ING DIRECT's new paperless checking account. The account has no minimum balance or direct deposit requirements and no monthly maintenance fees. Access to the account is available through a MasterCard debit card, "Electric Checks" which are electronic transfers between two parties, and via free Bill Pay. The account does not allow access via paper checks, although customers can request a check to be printed and mailed free of charge. Deposit options include Automated Clearing House (ACH) transfers from a linked account at another bank, direct deposit, transfer from Orange Savings accounts as well as mailing in paper checks.

Orange Certificate of Deposit

A second popular savings method that ING Diect offers is a Certificate of Deposit, or CD. ING Direct offers a number of options for their CD's, with the time starting out at a minimum of 6 months, and the longest being 60 months. As of early 2007, interest rates start around 5.00%.

Orange Investments

ING offers fifteen mutual funds, each of which has a particular investment strategy. ING also offers three funds called Strategic Allocation Funds: Strategic Allocation Conservative Fund, Strategic Allocation Moderate Fund, and Strategic Allocation Growth Fund. The goal of the Conservative Fund is maximum protection from market fluctuations (particularly the stock market) while investing primarily in more price stable instruments such as bonds. ING suggests an investment goal of 5+ years for this fund. The Moderate Fund allocates most of its fund to stock; with the majority in U.S. domestic stock and a small amount in international stock. It maintains a good portion of the fund - though much less than the Conservative Fund - in bonds. ING suggests an investment goal of 10+ years for this fund. The Growth Fund primarily invests in U.S. domestic stock and a slightly larger amount than the Moderate Fund in international stock. It invests in very few bonds or other more stable investment instruments as compared to the two other funds. The goals of the Growth Fund are in higher returns over the long term by assuming more risk and thus hoping to capitalize on market fluctuations over a long period of time. ING suggests an investment goal of 15+ years for this fund.

The three funds invest anywhere between 0% to 55% of the fund in the Russell 3000, the Morgan Stanley Capital International Europe, Australasia and Far East Index, the Lehman Brothers Aggregate Bond Index, and the 91-day U.S. Treasury Bill rate. Each Strategic Allocation Fund is distributing amongst at least three of those four (see prospectus)

ING Direct Cafes

In March of 2001, ING Direct opened cafes in 4 cities, New York City, NY, Philadelphia, PA, Los Angeles, CA, and Wilmington, DE, each serving Peet's Coffee. Inside the cafes, ING Direct has several internet terminals which allow their account-holders to check on the status on their ING Direct accounts and surf the internet free of charge. The cafes often feature seminars on financial topics such as money management, handling one's retirement, mortgages, and credit management.

Services offered

• Savings (Orange Savings Account)
• Checking (Electric Orange)
• Certificates of Deposit (Orange Certificate of Deposit)
• Mortgages (Orange Mortgage)
• Home Equity Line of Credit (Orange Home Equity Line of Credit)
• Mutual Funds (Orange Investment Account)