ING Direct increased APY to 2.20% on Orange Savings!

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MadPeriot

Golden Member
Dec 5, 2003
1,012
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On 8/2/2004 we increased the variable Annual Percentage Yield on the Orange Savings Account to 2.20% to help you save! So now your money's earning more!


Login and go to the Transfer Money tab to move some money from your linked checking account to ING DIRECT. Make sure you're earning great interest!


Save Your Money.


P.S. Don?t have an Orange Savings Account. Login to ingdirect.com and look for Open an Account. It?s simple and it takes two minutes!

r
 
Turkish

Turkish

Lifer
May 26, 2003
15,547
1
81
Originally posted by: MadPeriot
On 8/2/2004 we increased the variable Annual Percentage Yield on the Orange Savings Account to 2.20% to help you save! So now your money's earning more!


Login and go to the Transfer Money tab to move some money from your linked checking account to ING DIRECT. Make sure you're earning great interest!


Save Your Money.


P.S. Don?t have an Orange Savings Account. Login to ingdirect.com and look for Open an Account. It?s simple and it takes two minutes!

r
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repost ;)
 
M

memo

Golden Member
Jul 16, 2000
1,345
0
0
please try to excuse the ignorance but I am trying to figure out what the hub-bub is about. I think i can get 2.5% from bankone savings, min level is $250 though but I can manage that. Is there something in this ING that I am missing that makes it the rave of AT? I know marginal amounts about banking. :)
 

Originally posted by: memo
please try to excuse the ignorance but I am trying to figure out what the hub-bub is about. I think i can get 2.5% from bankone savings, min level is $250 though but I can manage that. Is there something in ING that I am missing that makes it the rave of AT? I know marginal amounts about banking. :)
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Not 2.5%...you're only getting .25% at BankOne. I should know, I have a savings account there, but all my savings minus $250 is in ING Direct.
 
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gistech1978

Diamond Member
Aug 30, 2002
5,047
0
0
Originally posted by: memo
please try to excuse the ignorance but I am trying to figure out what the hub-bub is about. I think i can get 2.5% from bankone savings, min level is $250 though but I can manage that. Is there something in this ING that I am missing that makes it the rave of AT? I know marginal amounts about banking. :)
Click to expand...

bolded is my reason
no minimums.
no penalties for withdrawal.
 
K

Kelvrick

Lifer
Feb 14, 2001
18,422
5
81
Originally posted by: memo
please try to excuse the ignorance but I am trying to figure out what the hub-bub is about. I think i can get 2.5% from bankone savings, min level is $250 though but I can manage that. Is there something in this ING that I am missing that makes it the rave of AT? I know marginal amounts about banking. :)
Click to expand...

Are you sure bankone offers 2.5%? Last I looked, it was .25%.

EDIT: Damnit jumpr.
 
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memo

Golden Member
Jul 16, 2000
1,345
0
0
Originally posted by: jumpr
Originally posted by: memo
please try to excuse the ignorance but I am trying to figure out what the hub-bub is about. I think i can get 2.5% from bankone savings, min level is $250 though but I can manage that. Is there something in ING that I am missing that makes it the rave of AT? I know marginal amounts about banking. :)
Click to expand...
Not 2.5%...you're only getting .25% at BankOne. I should know, I have a savings account there, but all my savings minus $250 is in ING Direct.
Click to expand...


hrm.. i could've sworn they guy said 2.5 or something like that the other day. Im thinking about switching my savings because my current bank stinks and eats my ATM cards. maybe he was referring to somethis else(Certificate of Deposit?). So, how would this differ from a savings account? Is it not as safe. Just trying to see why everyone wouldn't invest in this. Any possible pitfalls?
 
pyonir

pyonir

Lifer
Dec 18, 2001
40,856
321
126
There are no loop holes or pitfalls. None that i can find. The only thing you have to be sure of is that you don't do more than six transactions in any given month. You can do more a couple times, but if it is consistent, they'll have to not allow you do more than six. Check out their rules and regulations at ingdirect.com for more info.
 
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LordSnailz

Diamond Member
Nov 2, 1999
4,821
0
0
Yup the folks on the board is correct, orange is the way to go! I think the promotion to get $25 back for starting an acct. is still valid ... so goggoogogoggo
 
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memo

Golden Member
Jul 16, 2000
1,345
0
0
so, what i get from the site is that they link to your checking account, so if say you want to withdraw money you can transfer it from the ING to your checking and just get it through an ATM? what are the transfer times that you guys have seen? Say I have 8000 in checking and want to put 6000 in the ING, will my monthly statements from the checking account then say 2000 effectively? And, how do you deposit to the ING direct account, do you deposit into checking then transfer to ING direct? Thanks for the help peeps.
 
pyonir

pyonir

Lifer
Dec 18, 2001
40,856
321
126
Originally posted by: memo
so, what i get from the site is that they link to your checking account, so if say you want to withdraw money you can transfer it from the ING to your checking and just get it through an ATM? what are the transfer times that you guys have seen? Say I have 8000 in checking and want to put 6000 in the ING, will my monthly statements from the checking account then say 2000 effectively? And, how do you deposit to the ING direct account, do you deposit into checking then transfer to ING direct? Thanks for the help peeps.
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It takes 3 business days to transfer money back and forth (usually).

You deposit into your regular checking account and you can either set up automatic transfers to your ING account, or do it manually any time you want. You will only have 2000 in your checking because the rest is in a completely different account (the ING account).
 
A

Acanthus

Lifer
Aug 28, 2001
19,915
2
76
ostif.org
2.20% a year?

If you dont have $20,000 or more in there... thats not going to make any difference in your life.

Enjoy your pack of gum... ill take having all the local ATMs available to me for free through PNC.
 
pyonir

pyonir

Lifer
Dec 18, 2001
40,856
321
126
Originally posted by: Acanthus
2.20% a year?

If you dont have $20,000 or more in there... thats not going to make any difference in your life.

Enjoy your pack of gum... ill take having all the local ATMs available to me for free through PNC.
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i don't draw money from my savings account from an ATM. :confused:
 
Turkish

Turkish

Lifer
May 26, 2003
15,547
1
81
Originally posted by: Acanthus
2.20% a year?

If you dont have $20,000 or more in there... thats not going to make any difference in your life.

Enjoy your pack of gum... ill take having all the local ATMs available to me for free through PNC.
Click to expand...

true, the rate is ridiculously low and i wish i could earn more & faster but do you have a less-risky alternative?
 
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PowerMacG5

Diamond Member
Apr 14, 2002
7,701
0
0
Originally posted by: Acanthus
2.20% a year?

If you dont have $20,000 or more in there... thats not going to make any difference in your life.

Enjoy your pack of gum... ill take having all the local ATMs available to me for free through PNC.
Click to expand...
You're stupid, do you realize that? I have had the account a little more than a month, and already have made 20 on interest. Now, 20 is not a lot to some people, but at 20 a month, thats over 200 a year. I don't know about you, but 200 free dollars is a nice thing to get. Note: I do not have 20k in ING.

I personally do not mind getting money for doing nothing. 2.2% is gonna be nice. I started at 2.0, went up to 2.1 after like a day, and now its 2.2 :).
 
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