HERE'S WHAT YOU NEED TO KNOW ABOUT ING DIRECT DEPOSIT PRODUCTS
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YOUR PERSONAL ACCOUNT TERMS AND CONDITIONS

The Basics: First things first - whenever you see "ING DIRECT", it means ING Bank, fsb. Now, here's a quick overview of how your account with ING DIRECT works. You can open an account in your name alone or in your name and the name of one other person. You "link" your ING DIRECT account to a personal (non-business) checking account at another U.S. chartered bank ("Linked Account") - that's the way you make deposits to and withdrawals from your account with us. When you want to make a deposit, you can use our automated phone system, our sales and service call center, or … the easiest thing to do is use our website – ingdirect.com. Tell us to transfer money from your Linked Account into your ING DIRECT account. Likewise, when you want to make a withdrawal, just tell us to move money out of your ING DIRECT account into your Linked Account. It's that simple! Now that you have the basics, here are the detailed terms that govern your ING DIRECT account ("Terms"). Please understand that when you submit an application, open an account or use our services, you agree to be bound by these Terms. When you see the words “you” and “your”, they mean each person who owns an account. ”Our”, “us”, “we” mean ING DIRECT.

Who Can Open an Account: You can open a deposit account with us if you are a citizen or permanent resident (per the U.S. Citizenship and Immigration Services) of the 50 United States and the District of Columbia (the "U.S."), have a social security number and U.S. address. Taxpayer IDs ("TINs") are not acceptable and your Linked Account must be with a bank chartered in the U.S.

How to Open an Account: You must tell us to either electronically transfer money from your Linked Account or give us a personal check drawn on your Linked Account. For your security, we will verify that you're the owner of the Linked Account. If you open your account through our website, we'll place a temporary hold on your deposit(s) until you complete our verification procedures. You agree that we may, from time to time, obtain credit information about you from credit reporting agencies. We will use this information to update our information on you and to better service you as a Customer.

It's Simple to Make Deposits: For all accounts except IRA Accounts, you can make deposits by calling us; by using our website to transfer funds from another ING DIRECT account or a Linked Account; by mailing us a check; or, if we permit them, by initiating an Electronic Funds Transfer or wire transfer to your account. For IRA Accounts, you may only make deposits (also called contributions) by using our website (however, in some cases we may allow you to make deposits by providing us with a properly completed contribution form). You can get this form by visiting ingdirect.com and printing one out or by writing to us. Don't send cash! Checks you deposit must be payable to you (or to the living trust in the case of a trust account) and list your account number. It's up to you to make sure that your deposit reaches us and that we know where you want the deposit to go. If you don't do both of these things, you'll be responsible for any loss that results. Transactions that you conduct on Saturday, Sunday or a Federal holiday are effective the following business day.

We may limit or refuse any part of a deposit. If an item you deposit is returned to us unpaid or is otherwise charged back to us, we will charge it back to your account. Generally, you can't withdraw a deposit for 5 business days. However, when you first open your account, you won't be able to withdraw any money for the first 10 business days. As with all non-cash deposits, interest will begin to accrue no later than 2 business days after the banking day on which the funds were deposited. (Here's an example - if you make a deposit on a Sunday, we will process it on Monday, and interest will begin to accrue no later than Wednesday.) Also, we reserve the right to return any deposit to you that causes the combined balance of all of your accounts with us (including any joint accounts) to exceed $2,000,000.

It's Also Simple to Make Withdrawals: For all accounts except IRA Accounts, you can request a withdrawal from your account by calling us or by using our website. For IRA Accounts, you may only make withdrawals (also called distributions) by using our website (however, in some cases we may allow you to make withdrawals by providing us with a properly completed distribution form). You can get this form by writing us to request one. If we process a withdrawal or IRA distribution request for you, generally, the funds will reach your Linked Account within 2-3 business days (for IRA distributions, we may send you a check). You can't make a partial withdrawal from an Orange or IRA Certificate of Deposit.

We may allow you to make a wire transfer from your account. If we do, we may charge you for using this service and the charge will be deducted from your account at the same time we deduct the amount of the wire. We may also limit the amount that you can send, the number of wires you can send each day, and where we will allow you to send the wire (for example, we may only allow you to send a wire to your Linked Account). You may not stop or cancel a wire transfer request after it has been submitted to us.

Types of Account Ownership:

• Individual Account. This type of account is owned by one person only, and only that person can take money out.
• Joint Account. This type of account is owned by two people. Except for certain retirement benefits like Social Security, if one person dies, the money in the account then belongs only to the survivor (and not to the estate of the deceased person). If a husband and wife own the account, the legal term for how they own it is as "tenants by the entireties"; otherwise, the owners of the account are called "joint tenants". Any owner of the account may: (i) withdraw or transfer the balance without the other owner's consent; (ii) make deposits, close or pledge the account to us as collateral for a debt owed to us; and (iii) endorse and deposit checks payable to any joint owner. Your obligations under this agreement are joint and several.
• Living Trust Account. This type of account is owned by a living trust and is managed by no more than 2 trustees, at least 1 of which must be a grantor-trustee. If the account is managed by 2 trustees ("Co-Trustees"), either Co-Trustee may: (i) withdraw or transfer the balance without the other Co-Trustee's consent; (ii) make deposits, close or pledge the account to us as collateral for a debt owed to us; and (iii) endorse and deposit checks payable to either Co-Trustee or the living trust. Each trustee understands and agrees that (s)he, and not ING DIRECT, owes a fiduciary responsibility to the living trust and as such, shall manage the account in accordance with the terms of this agreement, the trust document(s) and any applicable laws. The obligations of Co-Trustees under this agreement are joint and several.
• IRA Account. This type of account is owned by 1 person only, and only that person can take money out. IRA Accounts are considered individual retirement accounts and are subject to all relevant IRS Rules and Regulations. IRA Accounts are also subject to the separate IRA agreements and disclosures provided to you when you open an IRA Account. Deposit products that are IRA Accounts are called the IRA Savings Account and the IRA Certificate of Deposit and are subject to the same applicable terms and restrictions as the Orange Savings Account and Orange Certificate of Deposit described below.

Details about the Orange Savings Account ("OSA"):

• Limits on Withdrawals/Transfers from Your OSA: Pursuant to Federal law, you're only allowed to take money out of your OSA 6 times per monthly statement cycle ("Cycle"). If you repeatedly make more than 6 withdrawals during a Cycle, we may close your account. Under Federal law, we must reserve the right to require you to give us at least 7 days written notice before you take money out of your OSA. (This hardly ever happens but legally we have to say it!)
• Automatic Savings Program ("ASP"): By signing the ASP form or enrolling online, you authorize ING DIRECT and your other bank(s) to debit your account(s) at the bank(s) now and in the future, in accordance with your instructions and under the terms and conditions agreed to with ING DIRECT.
• Overdrafts: You're not allowed to overdraw your OSA and you agree not to withdraw more money than what is available at the time.

Details about the Orange Certificate of Deposit (“OCD”): Our OCD is a “non-certificate” time deposit. It’s opened for a specific amount of time at a fixed rate of interest. When you open an OCD, you agree to keep your funds on deposit for a stated amount of time. We’ll allow you to redeem your OCD early, but in most cases, you’ll be penalized if you do. We’ll give you details about the early withdrawal penalty in the disclosures we send you about your new OCD. Depending on how early you redeem your OCD, the penalty could be greater than the interest you’ve earned on your deposit. If any OCD owner dies or is declared legally incompetent, the OCD can be redeemed early, without penalty. You can’t add to an OCD after it’s opened and you can’t make withdrawals from the principal, however, assuming that you have completed our verification procedures, you may have your interest electronically disbursed to an account that is acceptable to us. Other account terms will be disclosed when you open an OCD.

Things You Tell Us to Do: We may refuse to follow any of your instructions if we think they are illegal or potentially harmful to us. Or, we may take or require other security measures to protect us from any losses we may suffer if we follow your instructions. You agree to pay us back for any damages and losses (including, but not limited to, the reasonable costs of an attorney) that we suffer if we take an action based on your (or what appears to be your) oral, written or electronic instructions.

If Your Address Changes: You must notify us of any change of address by calling us, or by using our secure website. Any notice we mail to you (or email to you if you've told us to communicate with you electronically) will be binding and will be sent to the last address in our records, which may include a forwarding address given to us by the U.S. Postal Service ("USPS"). Even if you have elected to receive communications from us electronically, there may still be some legal information that we need to send you via the USPS.

Telephone Monitoring: You agree that your telephone calls with us may be monitored and recorded to improve service and security.

Closing an Account: You can close your account at any time, for any reason. We can close your account at any time, for any reason and without advance notice.

Here Comes the REALLY Hardcore Legal Stuff -

Assignment: No part of an account may be pledged, assigned, given as a gift, or otherwise transferred to a third party without our prior written consent.

How We Handle Items You Send Us: We won't be liable for checks or other items ("Checks") that are lost in the mail or for any default or negligence by a bank we may use to collect your Checks. When you send us Checks to be deposited into your account, we act as your collection agent and assume no responsibility beyond the exercise of reasonable care.

Lien and Set-Off: Unless your account is an IRA Account, by opening an account, you grant us a security interest (in other words, a "Lien") in your deposit accounts with us. That means that at any time and without notice to you, we can use all or any part of the money from your individual or joint accounts to pay any amounts you owe us from time to time. (This is what's known as a "Set-Off"). Any Set-Off shall be a lawful and valid payment by you of amounts you owe us.

Change to/Waiver of Terms: We can add to, delete or make any other changes ("Changes") we want to these Terms at any time. You and your account will be bound by the Changes as soon as we implement them. If the Change isn't in your favor, before it's implemented, we'll let you know about it as required by law. However, if applicable law requires us to make a Change, you may not receive any prior notice. We can cancel, change or add products, accounts or services whenever we want. Notice of any such changes, additions or terminations will be provided as required by law. We can waive any of our rights under these Terms whenever we want, but this doesn't mean that we'll waive the same rights in the future.

Governing Laws and Regulations: Your accounts are subject to Federal and Delaware state law, any applicable operating circulars or clearing house rules, and the rules and regulations of our supervisory authorities, like the OTS, FDIC, etc. ("Applicable Laws"). If there's a conflict between these Terms and the Applicable Laws, these Terms will be changed to the extent necessary to comply with the Applicable Laws. If any provision of these Terms is declared invalid, unenforceable, or illegal, that provision won't change the validity of any other provisions of these Terms.

Levies, Attachments, and Other Court Processes: If we receive a levy, attachment, or other Court process against you or another owner of the account, we may refuse to permit withdrawals or transfers from your account until the legal action is dismissed or satisfied. Any levy, attachment, or other Court process will be subject to our rights of Lien and Set-Off (remember, we talked about these things earlier). You are responsible for any losses, costs, or expenses we incur as a result of any dispute or legal proceeding involving your account.

Claims Against Your Account: If we receive a claim against funds in your account, or if we know of or believe that there's a dispute over the ownership or control of funds in your account, we may, if we choose to, place a hold on your account. We can also refuse to pay out any of your funds until we're satisfied that the dispute is settled. We may also close the account and send the balance to the account holder(s) we have on record, decide to rely on our current account records, require a Court Order to act, or take any other action that we feel will protect us. We won't be liable to you for taking any such action.

Notices to You or Us: Any notice that you give to us will be effective when we actually receive it. Any notice that we give to you will be effective when we mail or email it to you, using the address we have on file. Notice to any one account owner is notice to all account owners.

Jury Trial Waiver: SUBJECT TO APPLICABLE LAW, YOU AND WE AGREE TO GIVE UP OUR RIGHTS TO A TRIAL BEFORE A JURY. Disputes will be resolved either through Arbitration or in Court, in either case, without a jury.

Limits to Our Liability: We'll make all reasonable efforts to give you access to your accounts and accurate information. However, you agree that we're not responsible for any interruption in service or loss caused by things that are beyond our control, such as a natural disasters, wars, riots, strikes, computer failures, or losses of power, communications or transportation facilities. We won't be responsible for any direct losses or damages resulting from use of the account, unless we were negligent or acted in bad faith. We're never responsible for any indirect, special or consequential losses or damages.

And Finally! Wow, that was a lot of reading. Congratulations for finishing this! Now you are 100% ready to Save Your Money like never before. Welcome to ING DIRECT.