Is Ing Direct any good?

[Cooljt1]

does anyone use them and are they a legit company? do they insure your money and stuff? I got about $11K sitting in a savings account getting like .08 interest and 2% sounds a lot better. Also, do you have to have it in there for a set amount of time to get 2% interest?

 

[Orsorum]

I've used it intermittently; for what it's worth, it's a safe place to park money and earn a decent amount of interest.

It is backed by one of Europe's largest financial conglomerates - there is no risk involved. Unless Europe falls into the Atlantic, God forbid.

You start earning interest the day it gets put in the account.

 

[tontod]

Yes, I have an account with them. They are FDIC insured, so you're insured upto $100k in each account. I have had an account with them since November of 2001 and had no problems. You get interest daily, its 2% annual. Feel free to PM me with any questions you might have.

 

[dabuddha]

Plus the $50 signup bonus we received was very nice 🙂

 

[Eli]

So is this good for pretty much anybody that wants to start saving money?

 

[Orsorum]

Originally posted by: Eli
So is this good for pretty much anybody that wants to start saving money?

If you have a short time horizon and are comfortable earning 2% interest, yes.

 

[tontod]

Originally posted by: Eli
So is this good for pretty much anybody that wants to start saving money?

Yup, there are no fees or minimums. The only thing is that it takes 5 business days for any deposited funds to be available for withdrawal, but I consider that to be a non-issue, since I dont expect to withdraw much from a savings account anyway.

 

[Eli]

Originally posted by: tontod

Originally posted by: Eli
So is this good for pretty much anybody that wants to start saving money?

Yup, there are no fees or minimums. The only thing is that it takes 5 business days for any deposited funds to be available for withdrawal, but I consider that to be a non-issue, since I dont expect to withdraw much from a savings account anyway.

Cool.

Thanks, I'll have to look into it. 2% is better than 0%, and I wouldn't mind starting to save some money.

Not that I have much comming in, but.. you gotta start somewhere.