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Paying bills directly from ING Direct account

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#1 markber


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Posted 28 October 2005 - 05:44 AM

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The following info was posted by TheColoradoFool on TMF:

One of the dissadvantages of ING is not having a checking service to go with it. Sure, I can transfer money to my checking account, and then pay a bill, but that can sometimes take days. I don't write many checks anyway, but I do write "electronic checks" quite often. ING has a way higher interest rate than any checking account, so I wondered how I could maximize my interest.

I wondered if it would be possible to pay my mortgage, credit cards, and other bills from ING directly. So, I picked up the phone and called them, and they said there was no way to do it.

So I ventured out on my own and thought I'd give it a try... I mean heck, this is the digital age right? I went ahead and tried setting up payment of my Discover Card from my ING account, with a backup of paying through my checking account if it failed. When the discover bill came, I paid it from my ING account (Telling Discover to withdraw from ING) and it worked!

I have sence setup my other credit cards, and even my mortgage to be paid directly from ING.

Everything works, no fees, high yeild interest. Works almost like a checking accoung. All you need is you account number, ING's routing number, and a financial institution which can initiate the transfer from ING to them.

Sorry if many of you have already figured this out, but I thought it was woth mentioning. Their routing number is hard to find, so if you can't
find it, let me know, and I'll post it. smile.gif


Source: http://boards.fool.c...sp?mid=23218805

#2 markber


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Posted 28 October 2005 - 05:57 AM

More info:

ING Direct ABA number is 031176110

You can find it by following these instructions.

"Once you open an Orange Savings Account, you can access a simple form after logging in and clicking on the Orange Savings Account that you want to set up with Direct Deposit. Just look for the "Direct Deposit Form for this Account" link. "

You are limited to six withdrawals per month from an ING Direct account.

There is a chance that you can use MyCheckFree free bill payment service with ING Direct account to pay payees that do not offer online payments.