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How to Combine ING Direct Accounts

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My lovely wife and I both opened individual ING Direct accounts before we were married. In the latest step towards consolidating our financial accounts, we’ve decided to take all of our individual accounts and work towards combining them when it made sense. We’ve left investment and retirement accounts alone but online bank accounts are perfect for combining. Our latest move was to combine those ING Direct accounts into one.

I called a CSR yesterday to discuss consolidating our accounts and learned that the process is much simpler than I imagined. You can’t consolidate two separate ING Direct login accounts but you can add a joint account holder to an existing savings or checking account. This will turn an individual savings account into a joint savings account, let’s see how easy it is.

Adding a Joint Owner

If the other person is an ING Direct customer, you will need them present to login (or have that information yourself).

  • Log into your account.
  • Click on the name of the account you want to add someone else to.
  • Click on the Account Maintenance link above the list of transactions.ING Direct Account Maintenance
  • Under Account Ownership you should one spot available for a Joint Account Holder, click on the big blue Add button to the right.
  • If the person you want to add is an existing customer, it’s a cakewalk from here. Choose the primary account holder (you or the new person), and then select “Yes” for the second question. The person being added will be instructed to login. Once they login, they should be added within a few minutes.
  • If the person isn’t a customer, they will basically instruct them to open an account and link that new account. You will have to confirm the person who joins is the person you want. My recommendation is that you have the second person open an account using a ING Direct referral code so they can get the $25 bonus, and then add them.

Wasn’t that simpler then you would’ve guessed? Both you and the person you’ve added will receive an email (subject “Account Ownership Update”) in a few days notifying them that they’ve been added as an account holder.

Both individual account holders keep their respective logins and the joint account appears the list of accounts they own. For all intents and purposes, the account appears the same, there are just now two ways to access it (the primary account holder and the joint). If there are any differences, I haven’t been able to tell.

What about FDIC insurance? Making a joint account doesn’t give you more FDIC insurance if you already have a joint account. According to the FDIC:

…each co-owner’s shares of every joint account that he or she owns at the same insured bank are added together with his or her other joint account shares at the same bank, and the total is insured up to the SMDIA, currently $250,000.

If I didn’t have a joint account already, then I would get an additional $500,000 of FDIC coverage for the joint account ($250k for me, $250k for my wife) plus the $250k for individual accounts. By using two individual accounts and a joint account, a couple has $1,000,000 of FDIC insurance at any one bank.

If you already had a joint account, you get no extra protection but you do get to cross off a few accounts on your list and make for a simpler system!

{ 23 comments, please add your thoughts now! }

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23 Responses to “How to Combine ING Direct Accounts”

  1. I guess having shared accounts or not is a philosophical question, but I fall on the side of everything shared.
    Except our 401ks, all of our accounts are joint, but even there we have each other’s login info.

    We are like little communists! :)

    • Ryan says:

      I’ve dicussed going all joint with my wife, but I like having separate (in addition to a joint) so we can get surprise gifts for eachother if needed.

      • Martha says:

        I’m sure that’s a reason that your wife likes about having separate accounts :)

      • laura says:

        We have everything joint except for our spending money. Having your own spending money is something that has kept us from arguing. Now, I have access to his personal checking and vice versa in case one of us dies, but we’re honest and don’t look at each other’s stuff.

      • Chris says:

        We all have our secrets!

  2. Chris says:

    Had to do this a year ago. The process couldn’t be sweeter! ING is incredible…we did it the same way. She has her login and we can see our investment accounts.

    @Jake we are the same way…everything is shared.

  3. DCH says:

    My wife and I are in the “all joint” category as well. We each have accounts where one is listed as primary account holder and the other is the secondary/joint account holder. This also helps us divide up our budget responsibilities to keep it all better-organized…

    P.S. Jim: If/when you ever need more ING referral bonus links, please add me to the list! That’s a great idea to have a “prospective joint account holder” use the bonus referral link first!

    • Sue Burke says:

      I was a joint account holder and my husband was the primary acct. holder. A joint acct holder had no way to withdraw money’s to the acct without the primary acct holders permission. My husband proceded to drain the entire acct. Capital One’s policy is not the same.

  4. jsbrendog says:

    while i will not need to be doing this for a long time it makes me feel more confident in having ingdirect as my bank knowing that things like this are so easy. It creates in me a sense of comfortability with the bank and would possibly keep me there even if somewhere else had a higher interest rate (which now they do because it is abhorrently low)

  5. zapeta says:

    Not surprising that ING makes it easy to combine accounts. I’ve always found they have great service.

  6. Ken says:

    You and your wife should be able to be insured for up to $1 million at ING Direct: $250K in each of your single accounts and $500K in your joint account.

    Of course, I’m not sure why anyone would want to keep this much at ING Direct.

  7. Andrew says:

    Jim, I think your FDIC insurance increased by $250,000. Your joint account will be covered $250,000 per each account owner. Your wife’s individual account still be covered at $250,000.

  8. Andrew says:

    Jim, did you just delete my comments on FDIC insurance?

    • Jim says:

      No, it was held in moderation because it’s your first comment (I just approved it).

      • Andrew says:

        Jim, I see you revised your article. I think you ought to recognize the people who corrected your mistake in your article.

  9. Shirley says:

    My brother and I had a joint account at ING when our parents were still living. It was just as easy to remove him as a joint owner (at his request) when we no longer needed it.

  10. Jon says:

    We really like how ING handles joint and separate accounts. When I log in I can see both our joint accounts and my individual account that my fiance cant see and vise versa.

  11. eric says:

    Hey it is a lot easier that I expected. I wonder if it’s that easy with other banks.

  12. Alan says:

    Yup, its really easy and useful. My fiance and I opened up a joint account for the wedding funds. Easy tracking of our funds and deposits.

  13. ParisGirl111 says:

    Hey Jim,
    Did you delete my comment about the ING sub accounts that you can create under one profile?

  14. Beth Swan says:

    My husband and I have a “joint” account through ING. It was his account and not mine initially and I was added. Therefore, I cannot view statements or tax forms. I emailed the company asking why I could not access the same info and received a nonsensical bot reply and then when pressed further, no reply.

  15. bill says:

    once you have joint accounts, if you then add another savings account that is NOT joint, will the partner be able to SEE that account? IE, some are shared and some are not (and the ones that are not are completely private).


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