Ingdirect (3.75%) v. Emigrantdirect (4.0%)?

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MrsBugi

Platinum Member
Aug 19, 2005
2,481
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Our financial advisor recently recommended "Emigrantdirect.com" to us. We are currently using INGdirect for our savings, but Emigrantdirect appears to have a higher interest rate. Has anyone had any experiences, positive or negative, with EmigrantDirect.com?
 
sygyzy

sygyzy

Lifer
Oct 21, 2000
14,001
4
76
Never heard anything negative about Emigrant but ING is a much larger and more respected company. I don't mind the .25% less.
 
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paulney

Diamond Member
Sep 24, 2003
6,909
1
0
Emigrant seems to be slower on their transaction turnaround. When I signed up with ING, I received confirmation letter in a matter of days. Emigrant took their sweet time: almost 2 weeks.
 
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MrsBugi

Platinum Member
Aug 19, 2005
2,481
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Both are FDIC insured. I have not received any referral money from ING, but Emigrant does not appear to have a referral program.
 
Baked

Baked

Lifer
Dec 28, 2004
36,052
17
81
ING's site layout did it for me. Very easy to navigate and very professional looking. Flash does wonders to any site.
 
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DBL

Platinum Member
Mar 23, 2001
2,637
0
0
I have both. ING is a more pleasurable experience from a setup and usability standpoint but EmigrantDirect has the better rate. I've got almost everything parked in Emigrant at the moment. It's not a bad idea to create an account with each and use whoever has the better rates.

BTW, if security is a major concern, ING is top-notch while EmigrantDirect is as bad as I've come across on the Internet.
 
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ghostman

Golden Member
Jul 12, 2000
1,819
1
76
like mtwgg said, HSBC's OnlineSavings also has 4.0%. And I believe you can use HSBC ATMs. Still, I signed up with INGDirect (with $25 referral and have referred 2 other people), so I'm not going to switch just yet. My next account will probably be HSBC's OnlineSavings though.
 
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AndrewR

Lifer
Oct 9, 1999
11,157
0
0
Next one to mention it: Don't forget HSBC at 4.0%, also. I like their security features, even if it's a major hassle opening the account. They are a more credible bank (to me) than ING or Emigrant, being more traditional and issuing an ATM and having a greater variety of products than ING (no experience with Emigrant).
 
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Ranger X

Lifer
Mar 18, 2000
11,218
1
0
I'm happy with my 3.75%. ING Direct definitely has a better web interface.

EDIT: PayPal isn't FDIC insured. I wouldn't go with them just for .28% more.
 
J

JS80

Lifer
Oct 24, 2005
26,271
7
81
Originally posted by: Ranger X
I'm happy with my 3.75%. ING Direct definitely has a better web interface.

EDIT: PayPal isn't FDIC insured. I wouldn't go with them just for .28% more.
Click to expand...

Paypal's money market fund is run by Barclay's bank. I doubt their MMF will go broke. Most MMF's invest in short term US gov't securities; so if a MMF goes broke I think you have more things to worry about than the $500 in your paypal account.
 
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