Comments on: Organizational Failures Come in Threes

By: Nash

Nash — Mon, 20 Jul 2009 01:17:26 +0000

Nice blog! Keep up the good work.

By: indexfundfan

indexfundfan — Sun, 31 May 2009 20:53:27 +0000

The ING electric check looks nice but I do not have this account. You need to keep at least $50k in this account to earn a decent amount of interest.

My main checking account is now with Alliant CU, with Fido’s mySmartCash as secondary for billpay. I think these two accounts will complement each other: when the Feds start to raise the short term rates, Fido’s MMF will most likely yield more than Alliant’s checking account.

By: TFB

TFB — Sun, 31 May 2009 20:40:52 +0000

ING Electric Check demo. Pretty cool. The recipient has to come to ING and confirm. I think the ACH isn't sent until the recipient confirms. I don't see an automatic or scheduling option in the demo.

By: DT

DT — Sun, 31 May 2009 18:36:14 +0000

> You can send an “electric check” with ING Direct’s
> Electric Orange account. You key in the routing and
> account numbers of the person you want to pay. Money
> is transferred by ACH.

Can you setup automatic transfers?

By: indexfundfan

indexfundfan — Sun, 31 May 2009 16:43:24 +0000

You can send an “electric check” with ING Direct’s Electric Orange account. You key in the routing and account numbers of the person you want to pay. Money is transferred by ACH.

By: TFB

TFB — Sat, 30 May 2009 19:06:29 +0000

Yes, PayPal will work if both TIE and his friend sign up with PayPal for a personal account and add a bank account to their respective PayPal account. As long as TIE uses the bank account (not a credit card) to send money to his friend, there is no fee to either party. Because of KYC and AML requirements, TIE and his friend must be customers of a common entity, either the same bank or PayPal.

By: DT

DT — Sat, 30 May 2009 18:48:26 +0000

Could other payment methods work, such as paypal?

By: TFB

TFB — Sat, 30 May 2009 02:48:13 +0000

TIE - If your friend also uses BoA, you can pay him electronically. If your friend doesn't use BoA, you can't do it because of Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. See BoA demo (click on Transfer Inside in the left panel) and Transfer FAQ.