1 reply to this topic

[retireyoung]

With an account like ING where you get $25 for opening an account and only need to hold for a month, is it possible to do the following?:
-Open an ING account and hold it for one month to get the bonus without penalty
-Close the account after one month and transfer the money elsewhere
-Open another ING account and repeat?

My thought is that their database probably would catch this and signal you as a repeat customer as opposed to a new one but was wondering if anyone had done this successfully???

[markber]

Good question! I do not remember seeing people reporting such "referral cycles". I also have not tried to do it myself. You may consider posting your question on iBankDesign referral board, MoneyBB, and other finance boards listed at the bottom of iBankDesign homepage. Although, do not be surprised to have you post locked or removed on some of them because of its "referral-related" content (Try to place a statement for moderators at the beginning that you are not going to ask about or offer a referral).

ING Direct has the following statement on its referral page:

$25 account opening bonus only available for new accounts with a new Customer as the primary owner.

So... the question is how fast ING Direct will drop you from its customer database after you close an account. I do not know the answer. Hopefully, somebody does.


Mark

With an account like ING where you get $25 for opening an account and only need to hold for a month, is it possible to do the following?:
-Open an ING account and hold it for one month to get the bonus without penalty
-Close the account after one month and transfer the money elsewhere
-Open another ING account and repeat?

My thought is that their database probably would catch this and signal you as a repeat customer as opposed to a new one but was wondering if anyone had done this successfully???