I opened an ING Orange Savings Account in 2004. At the time I was keeping my savings account parked in a money market with Edward Jones and I wasn’t satisfied with my return. In addition to my poor return Edward Jones didn’t allow me to transfer money electronically between my money market and my checking account. I’m always looking for ways to simplify my life and I decided it was time to find a more modernized version of the savings account.

On the advice of a friend I decided to give an ING Orange Account a try. I did a little research before opening my account with them because I had a few demands of the new home for my money:

1. The bank needs to be FDIC insured.
2. I need to get a better return than my money market.
3. I must be able to transfer money between my checking account and savings account electronically.
4. The website must be easy to use.
5. It has to be easy to sign up.

I don’t think any of these rules were too demanding. FDIC insured? Of course they are. Better return than my money market? They obliterated the return I was getting on my money market. They offer electronic transfers between my Wells Fargo checking and my ING savings account. The website is wonderfully simple and it was a breeze to sign up. I am still thrilled with my choice.

The thing that makes ING so successful is their strategy to fire bad customers - that is, to drop customers who are too time-consuming and needy. This is what appeals to me most about ING. They cater to the more independent, low-maintenance investor. This means that you can’t expect any hand-holding with ING but you can expect them to offer a higher yield.

There are many other web-based savings accounts out there now and some of them are even offering higher yields than ING. A few examples include:

• EmigrantDirect
• HSBC Direct
• Citi e-Savings account

I’m sticking with ING because of their no-frills approach. For me it comes down to simplicity. It isn’t worth the stress of having to switch accounts for a fractional increase in my yield. Besides, I pride myself on being low-maintenance and ING focuses on just that type of person.