ING recently sent an e-mail to current Electric Orange (that’s their online checking account product) customers announcing upcoming changes to the bill payment tools. They also provided a link where anyone can preview the changes online or try out an interactive demo of the changes. The new changes are currently scheduled to go into effect the weekend of July 25th.

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ING Direct lowered their interest rates on a number of bank products yesterday. It hasn’t been all that long from ING’s last rate drop which I wrote about on December 30th, 2008, so I’m guessing this answers my previous question regarding how frequently ING changes its rates. More often, but smaller sized changes.

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ING Direct updated their website recently to reflect a drop in all tiers of interest rates that they’re paying on the Electric Orange checking account. The lowest tier dropped from a 1.00% APY to a 0.50% APY. I suspect there will be alot more of this all-around due to the recent Fed rate drops.

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Earlier this week I submitted the paperwork with my employer to change my whole paycheck to be direct deposited into high-yield savings accounts rather than an almost-no-interest checking account. The idea we’d had was to earn more interest on the money until we needed to use it elsewhere now that we’d figured out how to avoid running into the 6-transfer-limit that the US gov’t imposes on transfers out of such accounts.

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This morning I was reading on the Fidelity website about the Fidelity MySmartCash and decided to compare it’s BillPay service to an ING Direct Electric Orange account. To do a proper comparison I actually opened up a new MySmartCash so that I’d have full access to the tools an actual user would have. I already have a recently opened Electric Orange account to compare to.

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