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Easy money! 2.3% interest yielding savings account, with no hidden fees, minimums, time-requirement, etc.

J

jazzromer

Junior Member
If you're trying to save money, but still need it on demand, INGDirect is offering 2.3% yield of interest for a normal savings account. There is a free account with no sign-up fees, no hidden costs, no minimums, etc.

This is a hot deal because it is a liquid account (no time restraints) with such a high yield. Most banks' savings acounts offer around only 0.25% like my bank. I figured if I'm going to save my money, why not make it grow as well.

It's easy to set up, and they can even just transfer the funds from your existing checking account right there online. When you want it back, you can have it that instant. Pretty sweet deal if you ask me... Easy money!

Go to www.ingdirect.com or call 1-888-464-0727

Anyway, this my first post... I have always browsed the hot deals section and just want to thank all of you for all the help. I finally decided to become a member because I thought this was a deal worth posting.
 
Sounds okay, but the site won't load for me. You are probably going to be getting some posts wondering if you work for that site though... this being your first post makes it a little suspect.
 
Originally posted by: dchilder
Sounds okay, but the site won't load for me. You are probably going to be getting some posts wondering if you work for that site though... this being your first post makes it a little suspect.
Click to expand...

I doubt it. ING is a big company, most people on here have had accounts with them. They use to give 50 bucks for opening an account.
 
I don't know about you guys, but I don't feel comfortable working with an online-only bank. I still prefer to walk into a branch and do my business with a person. I guess I'm just old fashioned.
 
Old fashioned? Well, probably. 😛 But ING isn't meant to replace your main bank since it doesn't have any check products and there's no direct (or simple) way to deposit or cash checks. Heck, you can't move money into or out of your ING account unless it's electronically tied to another bank's checking or savings account. In essence, ING is a really good complement to your existing bank. You'd still be banking at your current bank, but ING's there to "back it up", so to say.
 
jazzromer - Excellent first post, thank you and welcome to the AnandTech forums 🙂

For those of you who are suspicious of ING Direct. Let me put it this way I'd much rather invest my money into ING as opposed to Paypal.

Why?

1) ING Direct is a bank, Paypal is not a bank.
2) ING Direct is FDIC insured by the U.S. Federal Government just like the big banks (Bank of America, Washington Mutual, etc.)
3) ING Direct's savings rates are better than 99% of the corporate banks out there. For instance the bank I work for and have an account with pays a pathetic 0.70% for savings accounts where as ING pays 2.3% which is almost 4 TIMES my bank's.
4) Transferring funds between your regular bank or credit union's account to/from ING is quick, easy and safe. I've transferred funds back and forth several times.
5) ING has an excellent referral program. If you refer someone who signs up and deposits $1 (they can close their account at any time with no penalties) as the referrer you get a $10 bonus and the person you referred gets a $25 bonus. If you're not an ING customer just ask someone who is to send you an e-mail they'll need your first name, last name and e-mail address (just don't ask publically since referrals are against forum policy here).
6) Since I work in international banking I know for a fact that ING Direct's parent company is one of THE LARGEST financial institutions in Europe. We do millions of $ in transactions with them on a daily basis.
 
I agree INGdirect is a good place for cash savings, not to replace your main bank - for that I still prefer a local bank which I can drive up and deposit my rebate checks. 😉 But I've set up CD ladders with INGdirect and they even beat my credit union rates! Check bankrate.com for CD rates, they have been consistently at the top.
 
Originally posted by: theshamu
I agree INGdirect is a good place for cash savings, not to replace your main bank - for that I still prefer a local bank which I can drive up and deposit my rebate checks. 😉 But I've set up CD ladders with INGdirect and they even beat my credit union rates! Check bankrate.com for CD rates, they have been consistently at the top.
Click to expand...

Credit Unions > Banks

Good advice though. ING is not meant to replace your traditional bank/CU where you have your checking account, debit/check card, and other loan products.
 
Ive been using ING for over two years. When interest rates were high, their savings acount was paying out over 6%. Its still a great deal considering the low interest rates of today. I have never had a problem, I just link my wells fargo checking account to my ING savings account and watch my money grow. Transfering money between the two is easy, safe, and fast. Your a fool to use any other banks savings account in my opinion.
 
Love ING, great rates and since it's hard to get to my own money the better. I don't trust myself with large amounts of cash.

Hot deals+cash=0 for me
 
ingdirect rocks... i have been with them for about 18 mos now... the only thing (which is a good thing) is that it takes 2-3 days for a withdrawl... helps to curve the quick binges heheh


if you email me at allen074@yahoo.com I can send you a coupon to get $25 when you open an account... yes I get $10 if you open it but big woop you get 25 hehe

allen074@yahoo.com for a coupon

thanks,
allen
www.htmlcenter.com
 
There is something that I don't get. Right now I can go to an ATM and transfer money between my checking and savings since they are both with the same bank. How would I go about doing this if i kept my bank for checking and used ING for savings?
 
snatch - ingdirect works a couple of ways:

1. you can direct deposit a paycheck into it
2. you transfer money from your checking/savings acct to it. You do not get an ATM card. So if you want money, you go to the web site, request a transfer and it transfers the money from ing to your bank. Takes about 2-3 days for the money to be in your ban account.

It is way worth it because it helps with binges 🙂
 
you can also schdule monthly automatic transfers. I am pretty happy with what I have with them...... only thing is it took me too long to start a CD and the rates dropped from 2.6% to 2.3% by the time I make up my mind.
 
Everbank
888-882-EVER
FreeNet Checking

3.01%
1500
1500
4.95
15.00
NO
30.15
YES
YES
2/12/2003


Presidential Online Bank
800-383-6266
Internet Checking Plus
Notes
3.00%
1500
1000
5.00
15.00
YES
30.00
YES
YES
10/7/2002


VirtualBank
877-998-2265
High Yield Cking
Notes
3.05%
500
1500
5.00
25.00
NO
20.75
YES
YES
2/13/2003


I got those info from bankrate, did anyone deal with those banks before, they have 3% interest checking account. anyone?
 
Originally posted by: all168
Everbank
888-882-EVER
FreeNet Checking

3.01%
1500
1500
4.95
15.00
NO
30.15
YES
YES
2/12/2003


Presidential Online Bank
800-383-6266
Internet Checking Plus
Notes
3.00%
1500
1000
5.00
15.00
YES
30.00
YES
YES
10/7/2002


VirtualBank
877-998-2265
High Yield Cking
Notes
3.05%
500
1500
5.00
25.00
NO
20.75
YES
YES
2/13/2003


I got those info from bankrate, did anyone deal with those banks before, they have 3% interest checking account. anyone?
Click to expand...


3% ?! I can't even get that much from a Money Market Plus account at E*trade. Anyone know anything about those institutions? They probably "readjust" their interest rates soon after you open an account.

 
i praise ingdirect! have had them for about a year now and i use to earn 3.25% but right now it's at 2.25 and it's still higher than any checking account i've ever known ! 😀
 
I have been an ING direct member for about a year now, and I have only positive things to say about them. I originally opened the account just to get the $50 they offered, but their rates and service are so good I closed my other savings account and moved all the money to ING. They are a great bank!

And if anyone needs a referral ($25 for you and $10 for me), PM me and I'll set you up. 🙂
 
What about NetBank?

I've had really good success with them, i don't have any other bank.

Free bill payment... i dont even use checks anymore at all.

2.3% on money market and 1.51% on checking

Easy no-fee ATM use for deposits and withdrawals (you can easily find free ATMs using a search tool)
 
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