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Coupon Abbreviations
  • SC = Store Coupon
  • MC = Manufacturer Coupon
  • SS = Smart Source
  • RP = Red Plum
  • PG = Proctor and Gamble
Coupon Terms
  • WYB = When You Buy
  • B1G1 = Buy One Get One Free
  • .75/1 = 75 cents off one item
  • .75/3 = 75 cents off three items
  • EXP = Expiration Date

Going Nuts? I can help you understand coupon terms and abbreviations

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  • ND

    As a reminder, I did this new account last year, and the $50 free bonus is actually taxable. You will receive a 1099 from ING for your taxes next January.

    • Guest

      You didn’t think that the government would let you get $50 without them getting a cut, did you?

  • Teresa

    We did this too and it works!

  • Lauren

    If you really want to make money on a checking account, PerkStreet is so much better!  Dave Ramsey endorses PerkStreet.  My husband and I have an account and we love it!  It does take some time to get the account set up and like with any bank, you should always read the policies, etc. before signing up. The typical family earns about $600 cash back in a year that isn’t taxable!  Much better than $50 from ING that is taxable!

    • Guest

       Wait a minute –  it is not really an apples to apples comparison. 

      The ING Electric Orange checking acct earns interest all the time on any money that you have in there and yes, that interest (and the $50 bonus) are taxable, because it is new income to you (i.e. your money is earning its own income and giving it to you).  You can do nothing and your account will grow. 

      The Perkstreet acct does not earn any interest (i.e. your money does not earn any of its own income, no matter how much you put in there).   It is only when you spend that money (via a debit card) that you can get a little bit of the spent money back (1-2%), depending on how much money you leave in the account.  You don’t pay taxes on the refunded money because it is not new income to you.  This account will not grow on its own and in fact, if you do not spend some of the money each month, you will get hit with an inactivity fee, so you can actually lose money.

      Our family uses an ING acct and a 1-5% cashback credit card that we pay off every month.  That way we are both generating more income and spending less money at the same time.

      • Lauren

        Have you even done the interest calculations?  The amount of interest you earn on the ING account is far less than you earn in Perks with PerkStreet.  I don’t spend any more money than I normally would.  I just buy groceries and pay utilities with my debit card.  I’ve done the calculations and I get far more in Perks (which are given to me in the form of a preloaded MasterCard Debit card…so it’s essentially cash!) than I would ever get from letting my money sit around in a checking account; besides, isn’t that what savings accounts are for?  With savings or MMA you can get about 1% interest, which is more than ING is offering for a checking account…so my family keeps what we need to spend for the month in checking while sending the rest to our savings/investments.  We get paid to spend money and to save money.

        As for the inactivity fee, I and most other people I know use their checking account enough that this is a non-issue.  All you have to do is one debit card transaction, write one check that clears, or do one automatic bill pay to avoid this fee…it’s really not that hard.

        It’s good that the credit card with cash back works for you.  Even though my family has never been in debt, we just don’t need the temptation of having a credit card…especially when there are checking accounts with debit card that offer comparable benefits.