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They must have a checking account in order to open an acct. with ING.to get the $50.Anyone know of any banks that have no fee checking accts. for children to open?
It has to be a checking account specifically? Not a savings account?[/B][/QUOTE]
You must be a US citizen or resident with a valid social security number.
Accounts must be opened with an opening deposit from your personal checking account.
Money Market accounts with check writing privileges offered by brokerage or investment firms are not eligible. Also, if you see on your check the words 'Payable through' with another bank name listed, this account cannot be used to make your initial deposit.
Account holders must be at least 16 years old or a joint holder with an adult.
Additional electronic deposits will begin to accrue interest two business days after the deposit is made and be available for withdrawal after 5 business days. Please note that for security reasons initial deposits are held 10 business days. After this initial hold has expired, funds that have been on deposit for more than 5 business days may be withdrawn.
Transfers to your checking account will generally be at your bank within 3 business days.
You may link up to 3 personal checking accounts. To add a link, send a personal check, made out for as little as $1.00, with your customer number and the word 'Link' on the check memo line. For added security, when you request that we add a link, we will place a 5 business day hold on all your ING DIRECT account balances.
Once per year, ING DIRECT will deposit $1.00 and withdraw $1.00 to confirm your checking account link is still in effect.
Accounts set up on line will automatically be scheduled for electronic statements. If you would prefer to receive paper statements, go to the 'View My Account' page of the website, click on the 'My Info' tab and request your paper statements. Statements are generated each month that there is activity on your account. Setting up an Automatic Savings Plan can guarantee a statement is generated monthly.
Although ING DIRECT does not charge fees, ING DIRECT cannot control the fees charged by your existing bank. Generally, banks do not charge for electronic funds transfers