Financial: what strings attached to ING Organe savings account?

lozina

Lifer
Sep 10, 2001
11,711
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A coworker asked me about this today but I knew nothing about it, and now I'm interested in finding out more. I am skeptical though, there's gotta be some strings attached to these accounts... how can you get such high interest rates- as high as some bank's CDs!

Anyone have any experience with this and would recommend getting it or staying away?
 

isasir

Diamond Member
Aug 8, 2000
8,609
0
0
Don't know about Organe, but Orange is pretty good with no real strings attached. It's an online bank, so it's a bit harder to get your money, but that's about it.

BTW, this question has been asked numerous times here. Do a search.
 

Drakkon

Diamond Member
Aug 14, 2001
8,401
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read all the previous threads...the one string attached is your money is kinda in a state of limbo for the time it takes to be transfered to the account and the time it takes to be transfered back in to your account. It can take anywhere for 3-5 days.
 

Kipper

Diamond Member
Feb 18, 2000
7,366
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They will take your money if you give it to them...

Then give it if you ask for it back. :p
 

RossMAN

Grand Nagus
Feb 24, 2000
78,808
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No strings attached and they are FDIC insured (like other major corporate banks such as CitiBank, Chase, etc.)
 

Night201

Diamond Member
Apr 23, 2001
3,697
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There are no strings. They can offer higher interest rates because they don't have branches offices in the US (Only 1 or 2). That way, since they save money on not having people staff them, building costs, rental costs, etc. they can afford to pass those savings onto the customers. I've been with them for 3 years now and love them!
 

astroview

Golden Member
Dec 14, 1999
1,907
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They have no real locations, no expenses, so they can offer the high rates. Frankly ING is losing out to emigrant bank with me.

I strongly recommend both of those banks.
 

ghostman

Golden Member
Jul 12, 2000
1,819
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I was just looking into getting an account yesterday. I can't see any reason not to choose this considering I was going to sign up for a CD at HSBC... better than my 1% money market account, just shy of a 1 year CD with much more liquidity, FDIC insured (I verified it thru FDIC.gov) and $25 for me and $10 for my referrer.