ING Electric Orange
Another cool feature is that you can create as many
savings accounts as you would like. You can give
these accounts nick names such as; taxes, auto
insurance, Christmas fund, rent, vacation fund, ect.
Then use ING automatic transfers to make weekly or
biweekly deposits to these accounts. This way you
can keep your large bills from sneaking up on you.

Internet banking really is no different then regular
banking. The safety net is your local checking
account. They use your local checking account to
verify your identity. After your account is set up you
can transfer money back and forth just like you would
if you had more than one account at your local bank.
The nice thing is that there are no bank fees, and no
minimum balances. The bonus is you get a higher
interest rate.

The important account from is the checking account,
this will become your spend money account, however,
I recommend opening a savings account first. This
will give Capital One a chance to evaluate your credit
before you open the checking account. If you have
good credit you should be able to get higher overdraft
protection/credit limit on your ING debit/mastercard.
It takes about two days for them to make two small
deposits into your primary checking account for
verification, but once that is done and you verify the
account, opening an ING checking account takes
about two minutes. When you open your checking
account I would suggest applying for at least half a
months salary for your overdraft protection/credit
limit if possible. Your 360 debit card should become
the only card you need to have, so you want your
credit limit to be high enough to handle most
emergencies. If you have no credit, Capital One will
limit your overdraft protection to 25 dollars. If you
reach your limit, Capital One will just simply turn off
your debit card.

The ING Debit card is a great tool for getting rid of
credit cards. With an ING Debit/Master Card if you go
below zero in your account there is no overdraft fee.
They simply charge 9% intrest on the amount of the
overdraft as though you used a credit card. By using
ING Checking as your spend money account you will
be making biweekly or weekly deposits to this
account. It is very easy to check your balance online,
or by using an ATM machine. This can really help
keep the spending under control because with a
credit card you have a month of spending before you
see your bill. By using an ING Debit/Master Card, you
will see your balance when ever you want to. Because
you are making deposits weekly or biweekly the
interest you pay will be much lower than that of a
credit card. If you can keep your balance positive,
that will give you the most benefit. Still, it is nice to
know that if you have a major expense this is the only
card you need to have in your pocket to cover your
expenses and if it becomes necessary, it is easy to
transfer money from your other accounts to keep this
account above zero.

What is most important here is that ING has almost
no fee's, and it is a big step twards getting rid of your
credit cards.
360 Advantage
One of the coolest features about Capital One 360 is
automatic transfers.
It is a great tool for budgeting. If you do not have
Direct Deposit you can put money into your local
checking account and set up automatic transfers to
your other accounts using Capital One, or if you
Direct Deposit to an Capital One account you can use
Capital One to seperate your money into any account
you want. This can be done weekly, biweekly,
monthly automatically, or only once on a date you
specify. Capital One 360 also has an option to e-mail
money to anyone who has a bank account.