Due to life's circumstances, my friend (from kindergarten) and I only get to see each other once every year, in summer.

We'd like to spend each Summer somewhere new, a tradition of sorts, which can be costly. We would like have an account somewhere where we can both deposit money to fund these vacations and then have easy access to the funds when we go on our vacations.

I've looked into ING ElectricOrange Savings and Orange Checking, as well as a simple Bank of America account where we can both cosign the same account. There are so many different options that I am at a loss as to which services are best. I was hoping for some advice, as well as answers to a couple specific questions:

- Should we have create a savings account, or just a checking account? (In the end, we'd like to carry only small amounts of cash. A debit card would definitely come in handy, but different banks offer different cards from Master Card to Visa.)

- Is there really as big of a difference in the worldwide functionality of Visa over Master Card?

- Which bank(s) are best for having a joint account?

- Which services do or do not require a credit check?

- Is there a special or required service for those who plan to travel abroad?


I apologize for such a long question and thank you, so much, in advance!
We would frequently deposit money to save up for vacations over time