Why does the ING "Electric Orange" (checking) account pay higher interest rates than the ING savings account?

The only difference I see is that the Electric Orange seems to offer more services. So why does it pay a higher interest rate?
Note, I think it pays a higher rate even for lower account balances.

They require minimum balance of $100,000 for the top rate. Right now 5%

My bank has closed my checking account due to a company double billing me within the same billing period leaving me in the negative. Will this affect my credit rating at all? I do not want this to show up on my credit report. If it doesn't, I will leave it be. If it does, I will give them h- for a variety of things leading up to this event. Please help me.

Thanks!

You should clear this up with the bank. It won't go on your credit report, unless they send it to collections, but it will put you on ChexSystem. You won't be able to get another bank account.

If a company double billed you, you should be able to get the bank to reverse one of the charges. You should also withdraw that company's authorization to debit your account -- do it by letter, certified mail, return receipt and copy to the bank.

It is a very bad idea to give any company access to your bank account for just this reason.

Where can I find a graph of checking and savings account interest rates at Wells Fargo Bank (past 12 mo.s)?

Looking for a place on the web where I can watch these trends.

I used to work for Wells Fargo and they don't compile past interest rates in a graph.

What is the general interest rate for a checking account? for a savings account?

Please help!

Checking accounts don't generally pay interest (though you can find them). Savings accounts are around 1-2% now.

Will an overdraft in your checking account affect your credit rating? Will an overdraft in your checking account affect your credit rating?

I don't think that one OD will do anything. Even if it's for an installment loan. If it OD'ed your acct. it was probably PAID. Meaning your loan is still in good standing. you will have OD charges and it will be part of your history on your checking acct., but unless you make it a habit, it would probably not be reported to a Credit Agency. MANY people have overdrafts for many reasons. Talk to your bank officer. Every bank customer should have an officer. If you don't know who it is, ask the teller, "Who is the officer on my account?" The teller should be able to tell you. Let the officer know that you are concerned about this and they will most likely work with you. Bankers want your business.If it's a First Offense, they might even waive the fee. (I wouldn't hold my breathe though!)

The bank will keep track of OD's for at least a year, meaning how many this month, past 6 months and past 12 months. Don't be afraid to talk with them though. They are only human too!