From Ramit Sethi's blog, I found out that you can set up multiple accounts in ING Direct. That means that if you have an Orange Savings Account, you can set up multiple Orange Savings accounts and access them with one password! This is really useful since you typically need to save money for several different purposes. Having separate accounts makes tracking easier and prevents you from accidentally taking money out of an important savings account (e.g. emergency savings). I went ahead and set up three accounts, each with a different nickname: "general savings", "emergency fund", and "rent". I have an account for rent because I only pay my rent in huge chunks, three times a year.
I also have a HSBC Direct account, but I'm thinking of dropping it in favor of ING Direct because HSBC doesn't allow One-Step Update in Quicken. I've also heard that the Electric Orange ING checking account is good. I've been using a Wachovia student checking account which for a while had no fees. Unfortunately, now Wachovia charges for downloading from Quicken -- a ridiculous $6/month fee.