ING Orange for Business 5% APY and 5.25% CDs Archived From: Finance |
I saw this for the first time today, and I know there have been some questions on where to find a high yield savings account for your business. Here it is!
Business ING
I wonder if the regular Orange rate will increase? Most likely not.
1/10/08
4.5% APY - Business Savings
4.55% APY - 9 month Business CD
Not bad but an EO business checking account would really be something
Unlike opening business credit cards, you need some documentation to open this Business savings account.
Awesome! I was hoping something like this would come along.
Now to find a good place for business checking. BOFA sucks!
scott1961 said:Not bad but an EO business checking account would really be something
This could be the start of their business stuff...who knows in a year or so they could have that along with business cards (but probably not before they introduce consumer cards).
Advanta offers higher rate
this
but without ACH
I will consider Advanta instead of ING if the business checking offer ACH...
i just signed up for this since I constantly have around 50k from my business sitting around that's not actually my money. so i wanted to put it into a high yield savings. But..ING Direct Business is a little annoying. They want a void check with your company name on it....I don't have that, all I use is BillPay with my online bank account, so now, i might just not do it. They also need you to sign stuff and send back to them, as well as copies of business license and so on.
too much work for me and it's not worth it. I will just open up a personal savings with HSBC online.
"All deposits are subject to a 5 business day hold." - Does anyone know if this is typical of high-yield business savings accounts?
If you're going to bank over the 'net, why not Fidelity? You can open a business account that looks a lot like the personal account. unlimited checks and ACH (but no billpay, i believe), and you can use Fidelity Select money market (yields a bit more than 5%) as your "virtual" sweep account. Check out the Fidelity thread for more information.
miggitymike said:"All deposits are subject to a 5 business day hold." - Does anyone know if this is typical of high-yield business savings accounts?
The 5 day hold seems onerous (although I honestly don't know how the other business savings accounts compare). But a long hold time is one the reasons I no longer use ING for my own personal savings.
I'm stuck with BofA business checking because of their local presence, but I'd love to find a better place for the majority of our funds. Fidelity sounds like a good choice.
lhendricks92 said:If you're going to bank over the 'net, why not Fidelity? You can open a business account that looks a lot like the personal account. unlimited checks and ACH (but no billpay, i believe), and you can use Fidelity Select money market (yields a bit more than 5%) as your "virtual" sweep account. Check out the Fidelity thread for more information.
Maybe off-topic, if it is business account with fidelity, how do I report tax on earning on form 1120? if it is interest from banking account, should be on line 5, how about earning from fidelity?
CornHusker said:Maybe off-topic, if it is business account with fidelity, how do I report tax on earning on form 1120? if it is interest from banking account, should be on line 5, how about earning from fidelity?
whoa, yeah, definitely OT.
i dunno, i do whatever TurboTax tells me. i know there's a place for divided income on the 1120-S (it passes through to the shareholders); i'm sure there's a place on the 1120.
ING Orange for Business accounts dropped from 5% to 4.75% today.
And today dropped to 4.65%
Dropped to 4.5%
down from 3.75% to 3.40%
3.15%
(the FED is on a mission)
Thanks for nothing OP! You said it was 5% APY, but it's 3.15%, u bait and switcher.
kevinkevinkevin said:Thanks for nothing OP! You said it was 5% APY, but it's 3.15%, u bait and switcher.
maybe you should have looked at the posting date
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