ING Direct--please help!

cash78mere · #1 09-18-2004, 12:05 PM

anybody use ING Direct?

it seems like a great company to use as a savings account, but i'm a little leery of it because I don't know anyone who actually uses it. their interest rate is much higher than what you'd get at a bank.

i'm ready to sign up for it, but i'd like to know any plusses or minuses that you may have experienced before i transfer my hard earned money into an account.

Rudey · #2 09-18-2004, 12:31 PM

Ummm they are a very large and established global bank and not just online.

-Rudey

RACooper · #3 09-18-2004, 12:34 PM

Uh... or chapter uses ING for it banking, as well as the alumni association, and the housing corporation. It's got reduced fees and some good interest rates...

KSigkid · #4 09-18-2004, 12:36 PM

I know many who use it and like it. No real drawbacks, if you need to withdraw it can be done quickly and easily.

I'd highly recommend it.

HotDamnImAPhiMu · #5 09-18-2004, 02:18 PM

I know they're established and such. They have ads on city benches so they must be OK.

Why can they offer better rates?

cash78mere · #6 09-18-2004, 05:46 PM

Quote:

Originally posted by HotDamnImAPhiMu
I know they're established and such. They have ads on city benches so they must be OK.

haha. i assume you're being sarcastic.

i am dying to open an account, but i am still leery on the whole thing. i know they have branches (although they're not called that) but there's only one in NYC near me. is it easy to transfer money back into your regular account?

bluz4 · #7 09-18-2004, 06:30 PM

i've had one for three years now. the interest rate was very high and they pay you if you open an account (if you get a friend to sign up, you get money too.) now the interest rate has remained stagnant but it's still a good money market account.

i do all my transactions online. You can have any amount of money directly deposited from any account that you want. and getting money from your ing account to your savings or checking account is just a click away. i think it does take one business day though before the money appears.

you can also move money over the phone. helps when you find yourself in a financial bind all of a sudden.

so i'd give it two thumbs up!

bluefish81 · #8 09-19-2004, 12:01 AM

Quote:

Originally posted by cash78mere
is it easy to transfer money back into your regular account?

Yes, I've had an account with them for about three years or so. I believe they give you $25 when you sign up and for each person you bring in they give you $10. Those amounts may have changed. I did everything online, so that was always pretty nice. I did have to call them once or twice with questions and they were always helpful. It's a safe company IMO. I am slightly biased since my previous job was within the ING organization (Not with ING Direct). I honestly think that you will have a real hard time finding a better interest rate anywhere.

cash78mere · #9 09-19-2004, 11:33 AM

to anyone who has an account-if you'd like to pm me a referral link or number i will use it when i open my account this week. we both get money out of the deal.

let me know if you're interested!

cash78mere · #10 03-24-2005, 07:40 PM

i've now been using ING as a savings account for about 6 months and i love it. so easy to use. and the interest rate just went up to 2.8 which is way higher than what i was getting at the bank.

and i love signing my friends up and getting the referral bonus...and they're pretty happy about getting the $25 as well.

Wine&SilverBlue · #11 03-25-2005, 12:38 PM

I posted about ING a while ago -- it's completely legit and a great bank -- much higher interest rate than most other banks.

You get a $25 bonus for signing up (no minimum) if you are referred by a current member. PM me if you are interested, I've been a member for a while and can send you the referral link you need immediately -- I just need an e-mail address for it.

They can afford to give a better rate because they deal mainly online so there is much less overhead, and because they are trying to attract customers. So far it's been working

P.S. the rate is now up to 2.8

P.P.S. If you want more info, either google them or do a search for my old post about ing a few months ago :-D

Rudey · #12 03-30-2006, 12:51 PM

Quote:

Originally posted by AXiD670
*bump*

I'm fixing to open an ING savings account...does anyone in this thread have a referral # they want to PM me so they can get credit? The rate is up to 3.8%!

Hey look into HSBC online and Emigrant online. They offer a higher rate

-Rudey

Rudey · #13 03-30-2006, 12:59 PM

Quote:

Originally posted by AXiD670
I saw those from that bankrate website thingie that lists the highest rates...I'd never heard of either of those banks though. Are they reputable? The HSBC bank has a rate of 4.80% through the end of April.

HSBC is one of the biggest international banks. And Emigrant is smaller but is still reputable.

You should also read the fine print on these because they are tricky.

A lot of them give a high rate until a certain month and then drop off so know what the drop off rate is.

-Rudey

AlphaFrog · #14 03-30-2006, 01:11 PM

Quote:

Originally posted by AXiD670
I saw those from that bankrate website thingie that lists the highest rates...I'd never heard of either of those banks though. Are they reputable? The HSBC bank has a rate of 4.80% through the end of April.

HSBC is actually Household Bank (I think they merged) which runs tons of store-type credit cards, such as Home Depot, Best Buy, Bon-Ton, CompUSA, Costco, Helzberg Diamonds, Neiman Marcus, Saks, Sony, Yamaha.

Rudey · #15 03-30-2006, 01:25 PM

Quote:

Originally posted by AXiD670
That's actually why I wrote off HSBC 'cause I couldn't find anything telling me what the interest rate would drop to at the end of April. I got annoyed, and I'm feeling a bit lazy.

ING does the same thing. I know in February people thought the HSBC rate would be around 4.25 when it dropped.

http://banking.about.com/gi/dynamic/...ntersale06.htm

-Rudey