Managing Money

$70 in 15 Minutes

April 11, 2006

Last month I entered the world of online banking. I took advantage of a referral link and opened an ING savings account. The interest rate is a respectable 4% and I received a $25 bonus in my account for opening it. Not bad.

The way the ING referral program works is the refer-er gets a $10 bonus and the refer-ee gets a $25 new account bonus. The account must be opened with a minimum of $250 to qualify.

So tonight I opened two new savings accounts for my kids. They got $25/each in their accounts and I got $10/each for referring them. It didn’t even matter that I was the joint account holder for each of them. The entire process took about 15 minutes at the most and our family is $70 better off. I would have been able to open one for my husband as well, had I not included him as the joint holder of my original account. Live and learn.

If you’d like a referral link to open an ING account, email me and I’ll send it to you by return email.

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