ING Accounts

[zersha]

Are these good to have? I am going to start saving our emergency fund soon, and I was looking at their site. I just want to have it be somewhere safe & not super easily available, but available within a few days if needed. It has a nice high interest rate, and looks like we can set up money to be automatically taken from our bank. Dh's check is now direct deposited, so it would be nice to set up a small amount for savings to be taken each time.

I also have my paypal money market account, which pays a similar interest rate, but I use paypal for buying things, so it would constantly be having money taken out.

Are they safe & reliable?

[kanga1622]

I've got three separate accounts with ING and I've never had a problem. It is easy to access, easy to transfer in and out, and it generally takes about 3 days form us to have access to the cash when we need it.

[Sheal]

Have an ASP with them, easy, quick and very nice interest rates!

I love ING.

Sheal

[avent]

Yes, love them. Good interest rates, no problems. Both DH and I use monthly transfer and it works great.

Takes about 3-4 days for $ to transfer from ING to Wells Fargo. This is good for me as it makes me plan. Downside is the money disappears from ING right away (so stops earning interest) but doesn't appear in WF quickly. I think banks have ways of making money by keeping $ longer than necessary when it seems to me transfers where they give up $ could happen much more quickly. But that's banks in general, not just the ING/WF.

[BlissfullyLoving]

We have them too and love them.

[DesireeH]

I love ING too....had them for a few years now. We started with 2 savings from them and now we have checking from them too with direct deposit and even the checking account pays the same interest as the savings.

[sweetfeet]

I have an ING acct for my emergency savings. The only downfall is that emergencies aren't planned and it does take about 3 days for it to transfer back into my checking acct. I simply use my credit card and when it transfers I pay it off. Otherwise it's great because it isn't easily accessible and you do have time to really think hey is this an emergency or not.

[Happygrl6]

We have an online savings account with each of ING, Emigrant Direct & E*Trade--we've had great service with each and they all have similar interest rates.

[beansmama]

I had a few but i switched to Emigrant for the higher rate and was very happy with their transfer time. As long as it's not over the weekend they are very quick - it takes them 24 hours vs. ING's 3-4 days.

[zersha]

Originally Posted by beansmama

I had a few but i switched to Emigrant for the higher rate and was very happy with their transfer time. As long as it's not over the weekend they are very quick - it takes them 24 hours vs. ING's 3-4 days.

Thanks, I think I might go with them. I had never heard of them before.

[SoHappy]

I like EmigrantDirect better, too. Slightly better interest rates and quicker posting.

[avent]

Thanks for the info. I'll look into Emigrant.

[mistmama]

what are the advantages to having these online accounts as opposed to opening another account at your local bank?

[DesireeH]

For me the interest was nice....it's almost 5% and no fees for having an account....my local bank charged me $7 a month to have an account (with hardly ANY interest to boot!)

[mrskennedy]

Do ING and Emigrant have the same interest rates? And is either one better than the PayPal Money Market Fund?

[zersha]

Originally Posted by mistmama

what are the advantages to having these online accounts as opposed to opening another account at your local bank?

The interest rates are much higher (above 4%), and there are no fees or minimum balances.

Originally Posted by mrskennedy

Do ING and Emigrant have the same interest rates? And is either one better than the PayPal Money Market Fund?

I think the interest rate is very similar to the pp money market fund, and I thought about just using that too, but I have a pp debit card, and I also use my paypal account for purchases, so that account just sees too much action. I want a savings account that will be more 'out of site, out of mind'. Since paypal always uses available balances before doing an instant transfer from the bank, I'd always have to be figuring out how much needed replacing.

[phatchristy]

We had ING for years and were happy with them, we now have one at Countrywide banks. Their interest rate was MUCH better.

[BUNGALOW10]

We have an account with CountryWide. 5.5%

[mrskennedy]

Originally Posted by zersha

I think the interest rate is very similar to the pp money market fund, and I thought about just using that too, but I have a pp debit card, and I also use my paypal account for purchases, so that account just sees too much action. I want a savings account that will be more 'out of site, out of mind'. Since paypal always uses available balances before doing an instant transfer from the bank, I'd always have to be figuring out how much needed replacing.

Yeah, replacing can be an issue with PP. But it works for us b/c I hardly use my PP account. If I used it all the time or had the debit card, replacing would be a PITA! But I use it once a month, if that, and don't mind replacing. I like the interest, and the fewer accounts I have to keep track of, the better. PP certainly earns much more interest than our credit union accounts!

[Logan's Mom]

I've had an account with Ford Credit called Ford Interest advantage. You have to keep 1k in and the rate is 5.4 for under 15k and it goes up the more you have in it.