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Maybe I just don't get it, or maybe "online checking account" isn't the most self-descriptive name for accounts like ING Electric Orange and the like. I have an ING Electric Orange account, and frankly I got it only for the free $121 they were giving away recently, but it seems to be a checking account, but without the checks. Then why call it checking anything? Is there some other reason I'm missing? |
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After just writing a post on online checking at The Millionaire Nurse Blog,I feel your pain.... My understanding, is that although there are a lot of online banking options, only an "online checking account" will either provide you with paper checks, or mail paper checks for you. This is for those occasions that you can't bill pay online. In my small town, many companies do not allow or have arranged online bill pay-they want a check. Here is a link to ING's FAQ about their online checking. Let me know your thoughts. |
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Yeah, they should probably just be called "Debit Card Account". ING DIRECT does let you print and mail a check from their website. I heard you could mail them to yourself, if you need something to pay a gardener or housekeeper for instance (recurring fee), and then just sign the checks over to them. EverBank sends you a book of checks. I use my online checking account for everything but deposits and the occasional physical check. I recently discovered a rewards checking account, PerkStreet Financial, who is making the most of this online checking thing. They give you cash back for your spending. Check out my PerkStreet review. I'm moving my "checking" to them soon. |
