HERE'S WHAT YOU NEED TO KNOW ABOUT ING DIRECT DEPOSIT PRODUCTS
or
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, in your name and the name of one other person, or in the name of an existing living trust. 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 or each trustee who is legally entitled to manage 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. In addition, if you are opening an account in the name of an existing living trust, completion of the verification process is subject to our confirmation of the existence of the living trust. 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 jointly owned, or in the case of an account owned by a living trust, jointly managed 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 you have completed our verification procedures, you may choose to 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 or 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.

State laws (called "escheat" laws) require us to close all your deposit accounts and transfer your money to the state if your accounts are dormant (meaning there's no activity on the accounts and you haven't contacted us) for a certain period of time. We want you to keep your money, not the state! You can avoid the transfer of your money to the state simply by logging into your account or calling us at least once a year. If we don’t hear from you and we are forced to close your accounts and transfer your money to the state, we may impose a dormant account charge. You agree that we may rely on third parties, such as the US Postal Service, to update the contact information that we have on record for you.

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.

No Fiduciary Obligation: ING DIRECT doesn’t assume any fiduciary obligation on your behalf. This means that we don’t act as your trustee or financial advisor, and we don’t assume any responsibility for your account beyond reasonable care.

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.

Death, Incompetency or Termination: If you die or are declared legally incompetent, or, in the case of a living trust account, the living trust is terminated, we can continue to accept and process deposits to your account until we know about the death/incompetency/termination and have a reasonable chance to act.

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.

Electronic Fund Transfer Disclosure Statement

The purpose of this disclosure statement is to inform you of your rights under the Electronic Fund Transfer Act. The Electronic Funds Transfers we are capable of handling are indicated below. Additional services may be provided in the future as they are developed. Please read this Disclosure Statement carefully and keep it for future reference. In this Disclosure Statement, the words "you" or "your" refer to the ING Bank, fsb depositor and any authorized user(s) of the account. The words "we", "us", "our" and "ING DIRECT" refer to ING Bank, fsb doing business as ING DIRECT.

1. ELECTRONIC FUND TRANSFER SERVICES. The electronic fund transfer services that are available to you when you open certain accounts other than IRA Accounts with us are as follows:

A. Direct deposit of Federal Government payroll, disability, veteran's benefits, Social Security and such other Federal Government payments that you may receive and that may be deposited to your savings account, when available.

B. Direct deposit of your paycheck to your savings account, provided that your employer offers direct deposit and you complete any forms required by your employer.

C. Transfer funds between your ING DIRECT accounts and between your ING DIRECT accounts and the checking accounts at other financial institutions that are linked to your ING DIRECT accounts ("linked accounts") via the Internet or by calling our call center, using your Personal Identification Number ("PIN").

D. Transfer funds from your ING DIRECT accounts to make payments to your loan account at ING DIRECT via the Internet or by calling our call center, providing your PIN and instructions.

E. Any other deposit to your savings account which is handled electronically, such as an automated clearing house transaction.

F. Transfer of funds as instructed by your use of a debit card that may be issued to you.

The electronic fund transfer services that are available to you when you open an IRA Savings Account are as follows:

A. Transfer funds between your ING DIRECT accounts and between your ING DIRECT accounts and the checking accounts at other financial institutions that are linked to your ING DIRECT accounts ("linked accounts") via the Internet.

The electronic fund transfer services that are available to you when you open an IRA Certificate of Deposit Account are as follows:

A. Transfer funds between your IRA Certificate of Deposit Account and your IRA Savings Account.

2. CHARGES FOR ELECTRONIC TRANSACTIONS. We do not charge for our electronic fund transfer services. We reserve the right to add charges at a later time and will notify you if we do so as required by law.

3. ACCOUNT TRANSFER LIMITATIONS. You may only transfer funds out of your savings account(s) up to six (6) times per monthly statement cycle using any combination of our electronic fund transfer services; no more than three (3) of these transfers may be made by debit card. You are not limited in the number of transfers that you may make into your savings account(s). These transfer limitations are imposed to comply with Federal Law.

4. RECORD OF TRANSACTIONS.

A. Pre-authorized credits. If you have arranged to have direct deposits to your account at least once every sixty (60) days from the same person, entity or company, for example, your employer, you can call us at 1-888-ING-0727 or access our website (www.ingdirect.com) through the Internet to find out whether or not the deposit has been made.

B. Periodic statements for all electronic fund transfers described in this Disclosure. You will receive a monthly account statement showing the status of your account(s) and electronic transactions that you made during the past month. Unless you have a loan with ING DIRECT, you may only receive a quarterly statement if no electronic transactions occur.

5. HOW TO CONTACT US. If you believe your PIN is no longer secure or confidential, or that someone has conducted or may conduct an electronic funds transfer without your permission, please contact us immediately by accessing our website (www.ingdirect.com) through the Internet or calling or writing us at: ING DIRECT, PO Box 60, St Cloud MN, 56302-0060, 1-888-ING-0727.

6. LIABILITY FOR UNAUTHORIZED TRANSFERS. CONTACT US IMMEDIATELY if you believe that an unauthorized transfer has occurred or may occur concerning your account(s) or that your PIN is no longer secure or confidential or may have been used without your permission. Telephoning us at 1-888-ING-0727 is the best way of keeping your losses to a minimum. If you telephone us, we may require that you send us written confirmation of your notice to be received by us within ten (10) business days of your phone call. You may also notify us through our website (www.ingdirect.com) but we may also require that you send us written confirmation of your notice to be received by us within ten (10) business days of your electronic notice to us.

You could lose all the money in your account(s) if you take no action to notify us of the unauthorized transfer or the loss of security or confidentiality of your PIN. If you notify us of the loss, your liability for unauthorized transfers will be as follows:

A. If someone else used your PIN without your permission, you could lose as much as $500 if you do NOT contact us within two (2) business days after you learn of the loss or unauthorized use and we can prove that we could have prevented the loss had you contacted us.

B. If your monthly statement shows transfers that you did not make and you do NOT contact us within sixty (60) days after the statement was mailed to you or first became available via electronic means if you elected to receive your statement electronically, you may not get back any money lost after the sixty (60) days if we can prove that your contacting us would have prevented those losses.

We can extend these time periods if extenuating circumstances (such as a long trip or hospital stay) kept you from notifying us.

You agree that you will not reveal your PIN to any person not authorized by you to use it and will not leave your computer terminal unattended after you have logged in using your PIN or other confidential information.

7. IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR TRANSACTIONS. Telephone us at 1-888-ING-0727, write to us at ING DIRECT, PO Box 60, St Cloud MN, 56302-0060, or send us an electronic communication through the Internet at our website (www.ingdirect.com) as soon as you can if you think your statement or transaction record is wrong or if you need more information about a transaction listed on a statement or receipt. We must hear from you no later than sixty (60) days after the FIRST statement on which the problem or error appeared was mailed to you or first became available via electronic means if you elected to receive your statement electronically.

You must provide us with the following information:

A. Tell us your name and account number or Customer identification number;

B. Describe the error or the transaction you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information; and

C. Tell us the dollar amount of the suspected error.

If you tell us orally or through electronic communication, we may require that you send us your complaint or question in writing within ten (10) business days to the above address. We will tell you the results of our investigation within ten (10) business days or twenty (20) business days for international transactions (a electronic funds transaction initiated outside the United States or Puerto Rico), after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days, or ninety (90) days for international transactions, to investigate your complaint or question. If we decide to do this, we will recredit your account within ten (10) business days, or twenty (20) business days in the case of an international transaction, for the amount you think is in error, so that you will have use of the money during the time it takes us to complete our investigation. If we require your written confirmation and we do not receive your complaint or question in writing within ten (10) business days, we may not recredit your account.

If we decide that there is no error, we will send you a written explanation within three (3) business days after we finish our investigation. You may ask for copies of the documents we use in our investigation. If we credit your account with funds while investigating an error, you must repay those funds to us if we conclude that no error has occurred.

We may provide you with the results of our investigation electronically if you have agreed to receive electronic communications from us.

8. STOP PAYMENT PROCEDURE. You may not stop payment of an electronic transfer that is not recurring once you have initiated the transaction. If you informed us, in advance, to make automatic recurring transfers out of your account, you can stop any of these transfers by calling us at 1-888-ING-0727, writing us at ING DIRECT, PO Box 60, St Cloud MN, 56302-0060, or sending us an electronic communication through the Internet at our website (www.ingdirect.com) in time for us to receive your request three (3) business days or more before the transfer is scheduled to be made. When you make the request, you must tell us your name and account number, the account to which the transfer is scheduled to be made, specify the exact amount of the transfer you want stopped, and the date the transfer is scheduled to be made. If you call or send us an electronic communication, we may require you to put your request in writing within fourteen (14) days after you call or send us the electronic communication.

If you ordered us to stop one of these transfers three (3) business days or more before the transfer is scheduled and we do not do so, we will be liable for your losses or damages, unless we require and do not receive written confirmation of an oral or electronic stop payment request within the fourteen (14) days and the transfer takes place after the fourteen (14) days, or you fail to give us proper instructions that would enable us to stop the transfer. We will not be responsible if our computer system does not act on your order because you did not give us precise and correct information. Our liability for losses or damages may be limited to actual damages that you have sustained if the failure to stop payment was due to a bona fide error, despite our procedures to avoid such errors.

9. BUSINESS DAYS. Our business days include every day other than Saturday, Sunday or one of the Federal Holidays or other days we are closed.

10. DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES. We shall disclose information to third parties about your account or the transfers you make:

A. Where it is necessary to complete transactions;

B. In order to verify the existence and standing of your account with us upon the request of a third party, such as a credit bureau;

C. In accordance with your written permission;

D. In order to comply with court orders or government or administrative agency summonses, subpoenas, orders, examinations and escheat reports; and/or

E. On receipt of certification from a federal agency or department that a request for information is in compliance with the Right to Financial Privacy Act of 1978.

11. OUR LIABILITY FOR FAILURE TO COMPLETE AN ELECTRONIC FUND TRANSFER. If we fail to complete a transaction on time or in the correct amount, when properly instructed by you, we will be liable for damages proximately caused by our failure unless:

A. There are insufficient funds in your account to complete the transaction through no fault of ours;

B. The funds in your account are unavailable;

C. The funds in your account are subject to legal process;

D. We did not receive a direct deposit instruction;

E. The failure is due to an equipment breakdown that you knew about before you began a transaction;

F. The failure was caused by an Act of God, fire or other catastrophe, or any other cause beyond our control despite reasonable precautions that we have taken;

G. Your PIN has been reported lost or stolen or and you are using the reported/suspended PIN;

H. We have reason to believe that the transaction requested is unauthorized;

I. You attempt to complete a transaction which is not a permissible transaction listed above; or

J. You did not provide us with the correct account information for those accounts to which you wished to direct a transfer.

TRUTH IN SAVINGS DISCLOSURES

Initial Deposit Requirement - There is no minimum deposit required to open the account.

Minimum Balance to Obtain Annual Percentage Yield (APY) - There is no minimum balance required to obtain the disclosed APY.

Rate Information - The Interest Rate on your account is   with an APY of   Your Interest Rate and APY may change. At our discretion we may change the Interest Rate for your account at any time.

Compounding and Crediting - Interest on your account will be compounded and credited on a monthly basis.

Balance Computation Method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of Interest on Non-Cash Deposits - For all types of non-cash deposits, interest will begin to accrue not later than the second business day following the banking day on which the funds were deposited.

Fees – If we agree to process a wire transfer for you, the cost per transaction will be up to $40.00.

Effect of Closing an Account - If you close your account before interest is credited, you will receive the accrued interest.