ING Direct business account

Ethan Blanton elb at
Tue Sep 9 21:18:49 EDT 2008

I promised I would look into this before our SoC payments arrived, and
since they're due in about a month, here it is:

We can open an ING Direct Orange for Business savings account and link
it to our existing Charter One/Citizens RBS checking account.  This
ING account would currently bear 3.15% APY in interest.  (This is
compared to a current 0% APY at Charter One; after our SoC deposits it
will be in the neighborhood of 1%.  It's a sliding scale, so I'm not
sure exactly how much, but I can find out if it's important to

We would not be able to close our Charter One accounts, as ING
requires a linked checking account, and provides only business savings
accounts right now.  Any moneys transferred to the ING account (after
an initial 10-day hold at account creation) would be available five
days after deposit.  ING requires from us a variety of paperwork which
I have available, plus a voided preprinted check, which we would have
to get from Sean.  They only give us 60 days to send it, and I've been
waiting for the check book for about a year and a half now.  YMMV.

Accounts are available both to corporations and non-profit entities;
last I heard our non-profit paperwork was all filed and we're waiting
for the IRS.  I'm not clear on the benefits of opening the account as
a non-profit versus a corporation, but it likely affects only end of
year tax documents.

-------------- next part --------------
A non-text attachment was scrubbed...
Name: not available
Type: application/pgp-signature
Size: 189 bytes
Desc: Digital signature
Url : 
-------------- next part --------------
Board mailing list
Board at

More information about the Discussion mailing list