Running this website actually requires a business, but I do not have a business account. Instead, I just use a standard Electric Orange checking account for daily expenses, and an Orange Savings account to keep my quarterly taxes until it's time to pay them. Unsure for quite some time why ING doesn't have a specific Business type account, I don't have to be unsure any longer!

It may have started sooner, but we were only alerted to the availability of the Orange for Business accounts available from ING! The Orange for Business accounts offer some of the same opportunities that Electric Orange accounts provide, namely the low to zero fees associated with owning this ING account. The APY is also fairly high, currently at .85%. That doesn't sound like an awful lot, but ING states that it's more than four times the average of all other US banks, and I'm inclined to agree.

When I opened my first ING savings account in January of 2003, the interest rate was considerably higher. I think it was 2.5% or close to 3%. I'm getting 1% on my savings currently, and just .25% on my Electric Orange Checking account, so the .85% on the business account sounds great!

What the Orange for Business offers that a regular account does not (aside from the interest rate) is the ability to allow more than just two signers. Orange for Business allows for three signers to anything on the account. Granted one more person isn't that much, and so this account is really just for small business, and not a large S-corporation. But if you do own a small business, you'll understand the value of being able to have that one extra person that can do your banking for you.

Orange for Business is offering a $50 sign-up welcome bonus right now if you visit this ING Orange for Business page and use ING code BSA372 during the sign-up process. Once your first deposit hits the account, ING will deposit $50 extra. The $50 will be available after 30 days passes, but if you are going to the trouble of setting up a business account, we're sure you are going to keep it for longer than 30 days! You must enter the ING Reference Code to receive the bonus. There are minimum amounts to deposit, but see the account setup to find out how much.

Orange for Business is currently only offering a savings account and/or 9-month business CD's (current rate of .75%). When I began writing about the account I was assuming that this included checking, too, but didn't see that omission until too late. Still if ING continues like the did with the Electric Orange accounts, we should see the checking accounts soon.

As far as I can tell, this offer is only for potential US-based ING Direct account holders. It may already be open in Europe and elsewhere, but since I'm US-based, I'm focusing on ING Direct USA when discussing Orange for Business.

Reference

Orange for Business Products - ING DIRECT USA
ING Bank, fsb, and its subsidiaries, including ShareBuilder Corporation,...

Business Savings Account - ING DIRECT USA
With a great interest rate – currently % APY – your business funds can t...

B. Daniels is the lead review expert with Find Cheap Bargains. B. was more than likely the person responsible for the hands-on review of every product on the site. He also spends time searching for sale bargains when not conducting and writing the reviews.