(in reference to ING online banking)
I've heard great things about this online bank, anyone heard of?
~





(in reference to ING online banking)
I've heard great things about this online bank, anyone heard of?
~
Last edited by Melonie; 02-06-2006 at 07:35 PM.
MANY MEN WANTED TO LAY ME DOWN, BUT FEW WANTED TO LIFT ME UP
-Eartha Kitt





I've been using them for YEARS. I have nothing bad to say about them. What do you want to know? I mainly use them for the Savings Maximiser as a place to put my tax money, general savings and invest money. I also have a 90 day term deposit with them that I keep getting to roll-over into a new term deposit...
oops.. I forgot to add that I also have it set up to automatically debit one of my bank accounts $10 each week... my way of setting up an emergency fund.
Last edited by GoldCoastGirl; 02-06-2006 at 02:13 AM.
enter: E3167322D9 for your 10% discount




i just signed up for an account with them. had a friend refer me, so i got a $25 bonus if i deposited $250 or more. she got a $10 bonus too. yield is 3.8% on savings(deposites between now and sometime in april yield something around 4.5%). beats the hell out of my banks 1% rate on savings. i just opened it to be a back up savings account. automatically deposit a set ammount in it everyweek and forget about it. i recomend it.
shop around....ING is good, but there are better
check bankrate.com





Ok, thanks all!
MANY MEN WANTED TO LAY ME DOWN, BUT FEW WANTED TO LIFT ME UP
-Eartha Kitt





you might also want to have a look at ETrade, which now offers online savings accounts, CD's, checking accounts etc. with very decent interest rates as well as stock brokerage. One of the annoying drawbacks of ING and similar online institutions is the necessity of transferring funds through a local bank account (and paying the transfer fees). ETrade Financial allows you to side-step a lot of the 'third party' transfers (and avoid some fees), whether it's simply transferring money in and out of a money market account or shifting money to CD's, stock shares, or other investments.





Oh, wow, THANKS< Melonie!
MANY MEN WANTED TO LAY ME DOWN, BUT FEW WANTED TO LIFT ME UP
-Eartha Kitt





It might be different here in Australia, I don't get charged for making transactions to/from my ING account. The only charge for me is from my actual bank account not ING... and that's only if I don't maintain the min. balance (which I do) so.. basically.. I can make unlimited transactions to/from my bank account to/from ING.
In Australia, there is also a few other similiar banks like ING... just that I like ING. Have had no troubles with them.
enter: E3167322D9 for your 10% discount




i dont get charged transaction fees either on my transfers. its the same as making any other payment.





I did a search, but didn't find anything regarding this...
Capital One has high interest savings accounts, which from my reading looks like a good deal. But of course, I have NO clue. Is there something I'm missing? A 4% rate seems pretty darn good for a savings account with no min. balance. I'm thinking there are some strings attatched....
Would it be better to just open an account at my bank?
Because there ain't no tits on the radio





http://www.capitalone.com/investment...h5o4A5SLdaMxOu
This looks to be very similar to the high yield savings accounts offered by ING, Emigrant Direct and some other banks. You will get a considerably higher interest rate at these internet "banks" than you will at a brick and mortar one, but if it works like the ING account does, you have to have a brick and mortar bank checking account linked to it.
Also, if you need your money in a pinch to attend to an acute emergency, you may have to wait a few days for the money to transfer back.
Last edited by Melonie; 02-06-2006 at 07:34 PM.
Former SCJ now in rehab.
emmigrantdirect.com
hsbc.com
"Have you ever been to American wedding? Where is the vodka, where's marinated herring?" - GB
"And do the cats give a shit? No, they do not. Why? Because they're cats."-from The Onion
Originally Posted by Mia M
I use EmigrantDirect.
I think it 4.5%
I'm happy...no problems.
If you need the money in a hurry, and it's a weekday, normal business hours, the money is in your bank the next day. If it's a weekend, it won't transfer for 2 or 3 days. Can't remember which.
With emigrant, I'm not charged transfer fees. My bank( BofA) does't charge me fees either.
Dunno bout the 1099
Yes, they will send you a 1099
"Have you ever been to American wedding? Where is the vodka, where's marinated herring?" - GB
"And do the cats give a shit? No, they do not. Why? Because they're cats."-from The Onion
Originally Posted by Mia M





the only thing that you may want to keep in mind is that, with the current bank losses situation, the banks which are willing to pay the highest interest rates in order to attract 'new money' are also likely to be the banks with the biggest 'skeletons in their closet'. This doesn't matter in any huge way if the account is FDIC insured and you don't absolutely NEED to have access to your money for a few months / years should the bank go belly-up and should a willing buyout bank be hard to find.
A very well managed online bank can be found at I happen to like this particular online bank since they offer accounts / CD's in currencies other than the US dollar.
BTW, ALL banks will issue 1099's automatically if the annual amount of interest earnings exceeds $100
I have an ING Orange Account. So far the customer service has been excellent. Haven't had the account that long, K and I just opened it to put our moving funds in it. After the move it'll be savings for a down payment on a house. We both tend to spend money if it's in our checking accounts, so I'm pleased that there is an external account I can't access so easily. The interest is just a nice bonus.
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