Wow! This is one really sweet deal!
Open an Electric Orange Checking Account through ING Direct today (Saturday, November 28, 2009–this offer was only good for Black Friday but has now been extended according to the details here.) and you can have $121 added to your account within 50 days. Here's how:
::Go here and open an Electric Orange Checking Account using reference code EOSAVE.
::Use your debit card to make three signature transactions within the first 45 days.
::$121 will be deposited into your account on day 50!
Remember that this offer is limited and probably won't last longer than this weekend, so be sure to jump on it if you are interested!
Thanks, Deal Seeking Mom!
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{ 45 comments }
how much money do you have to open it with?
I wonder what exactly “signature transaction” means. I never have to sign when using my debit card.
Signature transaction means swiping your debit card through under ‘credit’ rather than ‘debit’. It still comes out of your debit account, it’s just a different way to swipe it. Paypal’s debit card gives you a percentage back if you use it as a signaure transaction as well.
I think “signature transaction” means using your debit card like a credit card. You have to say credit when they ask dibit/credit.
A “signature-based transaction” just means that when you are at a store and you use your card, they usually ask “debit or credit?” If you say “debit” you put in your PIN number, and if you say “credit” you just sign your receipt or the PIN pad instead. It doesn’t affect your transaction in any way though.
Whenever we use a debit card at a restaurant we have to sign! If you eat out 3 times in 45 days the $121 will probably cover all of that cost!
“Signature transaction” means you ask the cashier to run your debit card as a credit card, and instead of entering your PIN, you sign the receipt as you would for credit. It comes out of your account the same way, but the store has to pay a few cents to do it that way–hence the bank’s motivation to induce customers to use it. Some retailers (like Wal Mart) have disallowed this practice, but most still allow it.
“Signature transaction” means that you have the money deducted via the credit agency. Like if the bank card is backed by Visa, you’d use it as a Visa card and not put in a PIN.
I haven’t checked out the deal but you may want to read the fine print to make sure that you don’t have monthly charges if you don’t use the card regularly.
Instead of hitting “debit”, you will hit “credit” and then you have to sign instead of putting in your pin.
From their website:
Examples of signature-based transactions include:
* Any purchases that require your signature(choosing ‘Credit’ instead of ‘Debit’) when checking out.
* Internet, phone or mail order purchases.
* Using your Card for automatic bill payments like your cell phone, cable or utilities
Here’s the info from ING (to answer a previous poster’s question):
What’s a signature-based purchase?
It’s a Card purchase made without using your Personal Identification Number(PIN) when paying. A majority of transactions don’t involve a PIN and are considered signature-based purchases.
Examples of signature-based transactions include:
· Any purchases that require your signature(choosing ‘Credit’ instead of ‘Debit’) when checking out.
· Internet, phone or mail order purchases.
· Using your Card for automatic bill payments like your cell phone, cable or utilities.
Most retailers require that you sign your credit/debit slip when you spend over $25. This is a great deal – I wish they would have had this offer when I signed up with ING! They are a great bank and have really been terrific to work with.
I called ING Direct and they said that “signature transaction” means instead of selecting Debt, you select “Credit” then the store will hand you a paper to sign.
I believe it means using it as a credit card and then signing it that way.
I’m also curious about the ‘signature transactions’ as the wording seems specific but the information on the site is vague.
I called them – there is no opening minimum, but you’ll want to put in enough to do your three signature transactions. To get a sig. transaction, press ‘credit’ instead of debit, and you’ll have to sign for it. If you and your spouse each want to get the bonus, you should each apply for an account, NOT one or more joint accounts. Once you are on one account, that’s it, so stay separate! (they said it’s OK to do that).
-Laura at http://www.tenthingsfarm.blogspot.com
Makes me a little nervous do you have to keep a minimum at all times and would I have to change my direct deposit?
a signature transaction is when you run your card as credit and not debit but it still comes out of your account.
it didnt give me an option to use my debit card….hmm how do i do that?
oh never mind I see you get the debit card for the account then make 3 purchases within first 45 days…lol
Kristie: If your debit card has a Visa or Mastercard logo, you can request to use it as “credit” when you make a purchase. You then sign, instead of using your PIN number.
Great offer! Signed up with $10, will make 3 small transactions within 45 days, make $121 by the end of Jan! Make sure you select CREDIT when using your card.
Kristie – if your debit card has a Visa or Mastercard logo on it, you can choose to run it as credit or debit. Both ways will take the money directly out of your checking account, but running it as a credit requires a signature (although some retailers do not require a signature at all on transactions under $25, whether you’re using a debit card or a credit card). Generally a “signature transaction,” then, is one of these – where you run a debit card as a credit.
ING doesn’t have a minimum limit on their checking accounts (or their savings accounts, for that matter) which is one of the reasons they’re so great to work with! And I’ve done deals like this with them before and there’s nothing special about the debit transactions…you just have to use the card to purchase something (as opposed to using it to withdraw cash).
Hi Kristie -
Signature transactions would be when you process your transaction as credit instead of debit. Instead of entering you PIN # to finish the charge it asks you for a signature as is processed like a credit card. HTH
Angie
signature transaction means you run in as a credit transaction, not with your PIN number.
Could anyone else find in the fine print if there is monthly fee, or if there is a minimum amount of time you must keep the account active?
Also if you are interested in this type of offer, you might want to look at the Suze Orman Save Yourself Account through TDAmeritrade. It is a one year committment, but a good return. You can read more about it on Suze Ormans site or TD Ameritrade site. You have to sign up for it by Dec 31st. Not sure if it is going to continue into next year.
Awesome!!!!!! I transferred $20 from my ING savings account and it seemed to work great. Then my husband signed up. It looks like we may BOTH be able to get the $121!
did anyone else have to call and give additional info? I have been on hold for 33 minutes!
I’m going to caution everyone on the portion of the disclaimer that states that ING will open a line of credit to serve as overdraft protection on these checking accounts. If you’re watching your credit score, you might not want that inquiry against you!
I have had a savings account with them for several years, though & have zero complaints.
Thanks for the tip! It’s been a while since I ran across a really great checking account bonus deal. This is one of my favorite ways to make a little extra money – I turned one of my “bonus” checking accounts into my own personal Christmas club account a couple of years ago. It was an account with Chase that required a monthly direct deposit – I set up a payroll deposit of $50/monthly and received a $125 bonus for opening the account. That made for a nice fund for Christmas shopping!
Oh, LOVE this one! However, my question is this and I have an email into ING to verify. For those three transactions that they want you to run through as a credit and that require a signature (most transactions under a certain dollar amount do NOT require a signature even when the card is ran as a credit), will THOSE particular (small) charges apply towards the three transactions they are requesting that we make in order to gain the bonus? I’m not sure, however, if you know, please share. Otherwise, I will share my answer once received.
Thanks Crystal!
Yes, I had to call and verify my identification too… been on hold for 48 minutes and still holding…
Hi Tammy,
Nope, no additional info required. It was a super fast & quick process.
Does anyone know where the reference code portion is?
Lisa– Google: ING Direct $121 deal… then click on learn more on the bottom. You will find the code on the next page that opens… it’s EOSAVE.
I’ve been calling people to tell them about this deal, all day.
LOL. Easiest offer ever. Woo! I will just buy 3 packs of gum or whatever and make $121. I opened with $20 which is probably more than I should have but whatever. Yay for FREE MONEY!
Hello and Thank you for this info. WHere exactly did you hear about this offer? I just tried to enroll online and it says my transaction will not take place until Nov 30. Does anyone else have this on their online app? I wonder if this means I will not get the $121. It is just about 10pm California time so I did process it on Nov 27.
I just found the ING main website advertising this deal
http://www.ingdirect.com/blackfriday/
AND they have posted they have EXTENDED this deal due to popular demand….but did not spell out how much longer we have through this weekend to sign up.
Awesome! I love ING! Thank you!
OK, I did sign up, but I didn’t see much about the $121 back. Did I do it incorrectly if I didn’t see a lot of advertisements for the cash back? I did put in the code and everything went through OK, but again I didn’t see anything about the cash back…..where does it say it on the website/contract?
Thanks for posting this deal! I was bummed that I missed it yesterday, so I was so happy when the deal was extended. ING is such a great bank, I’ve been a savings customer for 6 years!
how long do you have to keep the account open for? anyone know?
Apparently, this was totally legit! I just called them, on a Sunday morning!, and spoke to a girl who said you don’t have to enter your SS# online. Call-in to set-up the account with them. Also, in the name of giving-back, try to have someone invite you into ING, that way they will receive a $10 referral bonus. It turns out that my sister already has an account with them, and she sent me an invite this morning. I regret that I didn’t act on this $121 promo last night, when I was itching to do so (but hesitant about that SS# bit), but hopefully they’ll run another great promo in the future!
Thanks again, MoneySavingMom!!!~ +