It's Electric, Boogie Woogie, Woogie

My brother got me to open an ING Direct (Orange) savings account some time ago. It's an online savings account that earns a high yield (unlike one you would get at your neighborhood bank). The current yield on an Orange savings account is 4.5%. If you'd like to sign up, send me an email and I'll invite you to join (since you'll get $25 for signing up, and I'll get 10, sweet.)

I recently received an invitation to the "ING Savings Summit" in Miami. The CEO of ING Direct, Arkadi Kuhlmann, was there, as was personal finance and debt expert, Jean Chatzky.

I signed up my brother and me and we headed over to the Carnival Center for the Performing Arts to check it out. It seemed like the kind of thing WhealthWatcher$ should be attending.

Once there, we were greeted by friendly, outgoing employees of the company and Arkadi walked around and mingled with anyone willing to talk with him. You can tell that it's a great company from the attitudes of everyone working there.

We were turned on to Electric Orange, the ING Direct online checking account that was just launched, and which pays a 4% yield. Not bad compared to the fees you likely pay Bank of America (by the way, if you do have a B of A checking account, as long as you have a scheduled, automatic deposit each month [it can be just a few dollars], then you don't pay the standard monthly fee).

If you have an Orange Savings account, starting an Electric Orange account is simple and hassle-free. You will be able to pay bills, transfer money instantaneously from your Orange Savings to Electric Orange checking, and have access to any All Point ATM around the country. They have an ATM finder on the site so you can find out where you can withdraw money without paying an exorbitant fee. In Miami, most of the pharmacies have All Point ATMs.

We were surprised at the end of the Savings Summit with a gift of $250 that was just deposited in my Orange Savings account yesterday. One gentleman in the audience went home with a check for $10,000. If you're invited to one of these things, go.

By the way, contrary to popular belief, the song by Marcia Griffiths is called "Electric Boogie" and not "The Electric Slide".