concerned about risk factor in ING direct account

[z0mb13]

I personally have a ING account, and I put the bulk of my money there.. since it offers the highest interest and its basically close to being like a saving account (can transfer money anytime)

but I am kinda wary how they are able to offer higher interest %? higher % equals more risk right?? its basic finance 101..

 

[welst10]

Originally posted by: z0mb13
I personally have a ING account, and I put the bulk of my money there.. since it offers the highest interest and its basically close to being like a saving account (can transfer money anytime)

but I am kinda wary how they are able to offer higher interest %? higher % equals more risk right?? its basic finance 101..

I've been using ing direct for yrs now. They're great. They're like walmart.

 

[edro]

The referrals are what confuse me... They give up $35 total for each referral...

 

[PoPPeR]

i recall a thread about ing direct that said higher interest % is possible because of their low overhead since they have no actual physical presence.

 

[z0mb13]

would be the scam of the century if actually ING is owned by nigerian scammers..

after a while they run away with the money!!

 

[pyonir]

It's FDIC insured. So unless you have over 100k in there, i wouldn't worry about it.

 

[Kelvrick]

Originally posted by: z0mb13
would be the scam of the century if actually ING is owned by nigerian scammers..

after a while they run away with the money!!

Sweet! I've gotten like 50 bucks in refs and only have like 2 bucks in there right now. Jokes on you, Nigerians!

 

[Drekce]

They are FDIC insured. That means that any money, up to $100,000 you have in an account with them is insured by the Federal Government. Never put money in a bank that is not FDIC insured.

 

[z0mb13]

Originally posted by: Drekce
They are FDIC insured. That means that any money, up to $100,000 you have in an account with them is insured by the Federal Government. Never put money in a bank that is not FDIC insured.

but is it actually easy to claim our money back when somethign does happen??


also whats for the people that has more than 100k?

 

[puffff]

Originally posted by: z0mb13
I personally have a ING account, and I put the bulk of my money there.. since it offers the highest interest and its basically close to being like a saving account (can transfer money anytime)

but I am kinda wary how they are able to offer higher interest %? higher % equals more risk right?? its basic finance 101..

they can offer you 2.1% interest cuz when they take your money and invest it themselves, they make much more than 2.1%.

 

[dquan97]

Higher return does not necessarily equal higher risk (eg diversification). ING is favored by many here (including me), plus your deposits are insured by FDIC.

 

[DaveSimmons]

They can loan your money to Citibank and make a lot more than 2.1% on all the suckers who keep a balance on their credit card. Or as home mortgages loans at over 5%.

Don't worry about it, they're still making money on you and are FDIC insured.

 

[GasX]

Originally posted by: z0mb13higher % equals more risk right?? its basic finance 101..

To a degree, but the interest they pay is still nominal. If they paid 10% interest, you statement would warrant serious discussion...


As stated, FDIC insured = no risk to you

 

[Ranger X]

Originally posted by: z0mb13

Originally posted by: Drekce
They are FDIC insured. That means that any money, up to $100,000 you have in an account with them is insured by the Federal Government. Never put money in a bank that is not FDIC insured.

but is it actually easy to claim our money back when somethign does happen??


also whats for the people that has more than 100k?

Then only 100k is insured. If someone has 200k and ING goes bankrupt, then you're entitled to only 100k.

ING has been great for me. ING does have a physical existence IIRC. I saw an ING building in Taiwan or one of the Asian countries that I've visited.

 

[Turkish]

Perhaps you know ING is one of the strongest financial institutions in the world? Its not like INGDirect is their only business. They are big.

 

how would one go about getting in on the ING referal thing?

 

[Turkish]

Originally posted by: jntdesign
how would one go about getting in on the ING referal thing?

when a nub asks a question about INGDirect and says he wants to join, you PM him immediately and tell him he can get free $25

I made $140 that way

 

[pyonir]

Originally posted by: Ranger X
ING has been great for me. ING does have a physical existence IIRC. I saw an ING building in Taiwan or one of the Asian countries that I've visited.

Just a building or an actual branch with tellers and stuff? They do have physical buildings (how would they have customer service people?) but no branches or tellers and the like.

 

[Turkish]

Originally posted by: pyonir

Originally posted by: Ranger X
ING has been great for me. ING does have a physical existence IIRC. I saw an ING building in Taiwan or one of the Asian countries that I've visited.

Just a building or an actual branch with tellers and stuff? They do have physical buildings (how would they have customer service people?) but no branches or tellers and the like.

PEOPLE, ING is a financial institution. ING owns INGDirect. Some of ING Services:

Personal Finance
Saving & Investing
Individual Loans
Current Account
Individual Insurance
Private Banking

Corporate and Institutional Clients
Advisory / Mergers & Acquisitions
Corporate Insurance
Corporate Loans
Debt Capital Markets
Debt Markets
Employee Benefits
Equities
Equity Capital Markets/IPOs
Equity Derivatives
Financial Institutions
Forex
Institutional Asset Management
Interest Rate Derivatives
Leasing
Money Market Products
Payments & Cash Management
Real Estate
Research
Securities Services
Securitisation
Structured Finance
Structured Products
Trust Services

As you can see, INGDirect is nothing compared to all the other stuff ING does. So please... jeez.

 

[Lorax]

ING is a huge banking company in europe (actual, physical banks). in the US though, they only have like 3 buildings and are mostly internet based. so with the lower overhead (saying the reminds me of Being John Malchovich), they can afford to give more interest.

 

[pyonir]

Originally posted by: XietyCOM

Originally posted by: pyonir

Originally posted by: Ranger X
ING has been great for me. ING does have a physical existence IIRC. I saw an ING building in Taiwan or one of the Asian countries that I've visited.

Just a building or an actual branch with tellers and stuff? They do have physical buildings (how would they have customer service people?) but no branches or tellers and the like.

PEOPLE, ING is a financial institution. ING owns INGDirect. Some of ING Services:

Personal Finance
Saving & Investing
Individual Loans
Current Account
Individual Insurance
Private Banking

Corporate and Institutional Clients
Advisory / Mergers & Acquisitions
Corporate Insurance
Corporate Loans
Debt Capital Markets
Debt Markets
Employee Benefits
Equities
Equity Capital Markets/IPOs
Equity Derivatives
Financial Institutions
Forex
Institutional Asset Management
Interest Rate Derivatives
Leasing
Money Market Products
Payments & Cash Management
Real Estate
Research
Securities Services
Securitisation
Structured Finance
Structured Products
Trust Services

As you can see, INGDirect is nothing compared to all the other stuff ING does. So please... jeez.

Well holy christ we aren't all ING experts like you! Jeez! We should all be shot for not knowing the entire operations of a company we do ONE portion of business with.

 

[Qaabus]

ING Group N.V has roots going back as far as 1845.
Employs 113,060 people and has it headquarters in Amsterdam, the Netherlands.

 

[Dacalo]

Originally posted by: Qaabus
ING Group N.V has roots going back as far as 1845.
Employs 113,060 people and has it headquarters in Amsterdam, the Netherlands.

Yea, they are a Dutch company and they are international. My family was watching Korean TV and I saw an ING commercial :Q

 

[orakle]

don't forget ING operates in Canada as well, check out ingdirect.ca for more info on that. btw if any canadians would like a referral for ING, just PM me. We both get cdn$13 when you deposit your first check for cdn$100.

 

[minendo]

Originally posted by: pyonir
It's FDIC insured.

Exactly. Being insured is all that matters.