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

M

MrsBugi

Platinum Member
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?
 
Never heard anything negative about Emigrant but ING is a much larger and more respected company. I don't mind the .25% less.
 
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.
 
Both are FDIC insured. I have not received any referral money from ING, but Emigrant does not appear to have a referral program.
 
ING's site layout did it for me. Very easy to navigate and very professional looking. Flash does wonders to any site.
 
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.
 
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.
 
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).
 
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.
 
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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