As I noted when I wrote about closing our HSBC Advance saving account, I’ve been trying to streamline our finances. As a part of this process, I’ve also decided to interlink our remaining accounts more effectively.
As has been the case for years, the “hub” of our online banking system is ING Direct, so today I wanted to share the steps for linking additional accounts to ING. They actually offer two different ways of establishing links: online or via regular mail.
Before we get started, note that ING limits you to three linked accounts, so choose wisely. The good news is that you can remove accounts and establish new links at any time, so your decisions are reversible.
Adding a linked account online
Probably the easiest way to link a new account is to do so online. Here are the steps:
- Sign in to your account
- Click on “My Links“
- Click on “Add Link“
- Look for two small test deposits in the linked account (takes 2-4 days)
- Return to “My Links” page, select “Unconfirmed, ” and enter the amounts
This entire process takes just a few minutes, though you have to wait a few days in the middle. It’s also worth noting that this approach allows you to link a savings account (at least in theory), whereas the mail-in approach outline below is specific to checking accounts.
Adding a linked account by mail
Alternatively, you can link a new account by sending them a personal check from that account. The check must pre-printed with your name and address, payable to yourself, and made out for at least $1.00. Write your customer number and the word “Link” on the memo line of the check and sign it (but do not endorse it).
Mail your personal check to:
P.O. Box 60
St. Cloud, MN 56302-0060
Assuming that you add an account by mail, ING Direct will temporarily restrict transfers to the new account for five business days as a security measure.