ING Direct account for my son...

[MissLotus]

I know there was a thread about ING Direct a while back, regarding how if you have a referral link, they'll give you a $25 bonus if you open an account with at least $250. Well, I did that, and it's cool since the interest rate's much higher than my regular bank. Anyway, I just called them because I was wondering if I could open an account for my son (who's only 6, so it's not like he does his own banking) and he could get the $25 bonus added to his account (plus I'd get a $10 bonus for "referring" him. I didn't think I'd be able to because he's a minor. But the representative on the phone checked with his manager, and came back and said I could do it...that I'd need to have an e-mail account in my son's name, and we'd have to provide my son's social sec. # during the application process (which was all done online), but that otherwise, yes, he'd be eligible for the bonus.

So I just did the whole online application, and the only thing you have to make sure is that you fill out that your child will have a joint account....then (if you already have an ING account), you enter your customer number and YOUR checking account (since that's what they'll transfer the money from/to. It said we'd be receiving our bonuses (as I recall it took a week or two for the $25 to appear in my initial account)....and I'm kind of psyched to think that with my own $25 bonus, plus my son's $25 bonus, plus my $10 referral bonus, we're getting $60 free, plus the interest we'll be earning! Not to sound like a commercial...it just hadn't dawned on me till today that I could refer my own child!

[fek&fuzz]

Cool. I just opened up an ING Business Savings account, and when that's set up, I'll do a Personal savings account. I love that the money isn't accessible by ATM card. I need it hidden away!

[superstella]

Me too, I really need mine to be a little more difficult to access.

[Valkyrie9]

That's really good to know. We have a savings account for our daughter at another bank and I keep meaning to switch it to ING, but wasn't sure if I could actually refer her. Cool!

[velochic]

That's great! Good way to get some extra cash in the account.

Just a thought... my dd (5 years old) has Vanguard's STAR fund. There is a low minimum on it and it's good for learning about how the market works. If you ever want to check that out, they had (not sure now) incentives for UGMA accounts and you might make a little more cash, as it's a mutual fund.