only real catch is that you've got to have a "real" bank account at a local bank in order to make withdrawals. You've got to "link" the ING account to your local bank account and it can take a few days to get the money out of the ING account.

Bottom line: go for it. Just don't close all of your other bank accounts.

Also....i think i've even seen where ING will give you a $50 bonus for new accounts.