Does ING Direct Offer Accounts for Minors?

10.25.07 | Online Savings Accounts | 0 Comments | by junger

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Reader Frank recently posed this question about ING Direct's Orange Savings Account:


I would like to start a savings account for the infant of a friend where the infant would be listed as the primary account holder. I would like to be able to transfer money to this account at any time from 3 checking accounts: Mine, her mother's and her grandmother's. Can this be done? Can these accounts be linked even if they are not all in my name? What other ways would there be to get money into this account?

According to ING Direct, you can open an account for a minor, but can't fund it with three different checking accounts with three di ferent names.

"They can open an account for a minor, but the only checking accounts that are allowed is if the adult is on all of the 3 checking accounts," says Nicole at ING Direct.

She says that if there are any issues, give them a call at 1-888-464-0727 between 8 AM and 8 PM any day of the week.

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