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ING direct savings account?
ING direct savings account?
I am thinking about opening a savings account with ING. I want a place to stick a bit of money every month and let it accumulate, so I have a bit of a savings account in case of an emergency. I am planning on putting in $30 a month for the first little bit (I'm a stay at home mom and can't afford much more!!)
Can you tell me if you think ING savings accounts are a good or bad idea, and why?
I just really want to start somewhere with saving money! And I like the idea of paying into a savings account automatically...
Tell me your experience with ING!
Thank you!
Answers:
magy: ING is pretty good, I've used them for past year or 2, but some other places are offering more for interest rates right now, like HSBC and emigrant direct.
http://www.hsbcusa.com/?WT.srch=1 />https://www.emigrantdirect.com/EmigrantDirectWeb/index.jsp
PAY ATTENTION to the term,s like how long it takes transfers to go through (ING takes a week to 'credit' deposits into your account, it takes about 1-2 days to get 4 back out, in to an account with another bank- don't know about the other 2).
Saving $ is always a good idea, even if it's just a smidge at a time! It adds up over time, before you know it you'll have more than you realize.
I like ING- but I think their CD rates as of late stink, so I've not renewed them.
2007-04-14 06:11:53
http://www.hsbcusa.com/?WT.srch=1
PAY ATTENTION to the term,s like how long it takes transfers to go through (ING takes a week to 'credit' deposits into your account, it takes about 1-2 days to get 4 back out, in to an account with another bank- don't know about the other 2).
Saving $ is always a good idea, even if it's just a smidge at a time! It adds up over time, before you know it you'll have more than you realize.
I like ING- but I think their CD rates as of late stink, so I've not renewed them.
2007-04-14 06:11:53
Chosen Answer
JL: I've banked with ING Direct for years, and I do the same thing. The nice thing about ING is that you can set up your own savings schedule (ie, every week, two wees, or monthly), so you never really miss the money coming out. The interest rate is competitive, and there are no fees. The only warning I have is that if your regular bank charges you for debits or withdrawals, the automatic transfers to ING count as debits. It also takes 2-3 business days to get your money back - but that's never really been an issue.
2007-04-14 06:18:33
JL: I've banked with ING Direct for years, and I do the same thing. The nice thing about ING is that you can set up your own savings schedule (ie, every week, two wees, or monthly), so you never really miss the money coming out. The interest rate is competitive, and there are no fees. The only warning I have is that if your regular bank charges you for debits or withdrawals, the automatic transfers to ING count as debits. It also takes 2-3 business days to get your money back - but that's never really been an issue.
2007-04-14 06:18:33
Thin Kaboudit: INGDirect is an excellent place to start this kind of saving plan. Congratulations on making such a smart decision.
Stick with it!
2007-04-14 08:20:19
Stick with it!
2007-04-14 08:20:19
P&M: Its a good place, and the people that I know that have it, like it. But doesn't hurt to shop around to find the best interest rates. For example...
PC Financial pays 4%
Manubank pays 3.75%
ING pays 3.5%
Personally, I put my short term savings with PC Financial. Long term (RSP/RRSPs) into various funds (AIM, CI, Fidelity).
Of course, if you want to put it into GICs, then you should look at GIC rates to compare
PC Financial - 3.85 to 4%
Manubank - 4.05% to 4.25%
ING - 3.85 to 4%
2007-04-15 06:40:30
PC Financial pays 4%
Manubank pays 3.75%
ING pays 3.5%
Personally, I put my short term savings with PC Financial. Long term (RSP/RRSPs) into various funds (AIM, CI, Fidelity).
Of course, if you want to put it into GICs, then you should look at GIC rates to compare
PC Financial - 3.85 to 4%
Manubank - 4.05% to 4.25%
ING - 3.85 to 4%
2007-04-15 06:40:30