Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
What amount do you open up with and does anyone on here have an account? I just want to get some information first before opening up an account. Thanks
I don't remember how much money I used to open my account, but it wasn't much. I think less than $100 (I think), a year or so ago. I initially opened my account because they had a very high interest rate on their checking account and I still have it open.
Here are some things that should interest you: You can transfer money from multiple banks into your ING account, but you can't directly transfer from back to bank...ING has to me the intermediary. When you deposit money you have to wait about 5 days before the money is available to you, you will see the money there, but you cannot access it.
Overall I like having the account, so good luck with your decision.
I used to have ING when they had 5% interest on the bank accounts... right now, there isn't a thing that I like about putting an account over there... I closed my account years ago...
I have an acct and get a 1% interest rate. Which I still think is about the highest you will find without any requirements (balance, transactions, ect). I'm still happy with em.
What amount do you open up with and does anyone on here have an account? I just want to get some information first before opening up an account. Thanks
I think you can open up an ING account with any amount. My checking account is currently at $0.01 for months now.
I still have an ING account, no money in it though. They had one of the highest CD rates a few years ago, now it's not really worth it to me for a few more cents, I'd rather deal with a bank in person if that's the case.
SmartyPig is an unusual concept but can be used basically like a single online savings account. They pay 1.75% APY. I have seen other online savings accounts that pay 2.0% (and SmartyPig used to) but I'm fine with my decision. My plan is to dump extra money into this account each month to start an emergency fund and prepare lump sums when I want to invest in a new mutual fund. It's better than no interest in my checking or a lot less interest in my savings account. Every little bit helps and I don't think this is too convoluted. It is VERY easy to get caught up in nothing real--opening every account that comes along which claims to give you money upon opening, great introductory rates, etc. A quick overview of my financial hierarchy:
USBank: day to day bank, bill pay, checking, savings - basically just keep enough for an entire month of auto withdrawals plus a small amount in savings.
Credit Union: CDs that I opened 1-3 years ago which all mature late 2012. At that point I may leave them to consolidate. I moved to a bank only because I moved out of state and need the convenience as I travel home and around the country.
SmartyPig: accumulator of funds for moderately sized actions such as starting a new investment ($3K typical minimum investment). I basically deposit whatever I have left over each month here.
Vanguard: Roth IRA accounts each year, maxed. Probably going to start non-retirement investments soon.
Three carefully selected credit cards, two of which I actually use on a regular basis, and are all paid monthly.
I have my savings account with ING direct and I'm very happy with them. They're very user-friendly online and I like the idea of not having to go to a bank branch. Setting up automatic payments and transfers is very easy. I also signed up with them when they're offering 4.5% interest on savings accounts. Now it's down to (I believe) 1.1%. Like long101 mentioned, that's still higher than most other banks.
My partner has ING for savings but he also has a checking account with ING direct, and I have to say it is quite a hassle for him. You still have to have a regular bank account linked to it. So his paychecks are direct deposited into his HSBC checking account and then he transfers everything over to ING Direct. Apparently they can't set up direct deposit into an ING account, which I think is just silly (unless there's something my partner is missing). Also, I like being able to go to an ATM and deposit cash or checks instantly into my checking account.
So I'd recommend ING Direct for savings, but keep your current checking account. And I think you can open and ING savings account with as little as $50.
I have my savings account with ING direct and I'm very happy with them. They're very user-friendly online and I like the idea of not having to go to a bank branch. Setting up automatic payments and transfers is very easy. I also signed up with them when they're offering 4.5% interest on savings accounts. Now it's down to (I believe) 1.1%. Like long101 mentioned, that's still higher than most other banks.
My partner has ING for savings but he also has a checking account with ING direct, and I have to say it is quite a hassle for him. You still have to have a regular bank account linked to it. So his paychecks are direct deposited into his HSBC checking account and then he transfers everything over to ING Direct. Apparently they can't set up direct deposit into an ING account, which I think is just silly (unless there's something my partner is missing). Also, I like being able to go to an ATM and deposit cash or checks instantly into my checking account.
So I'd recommend ING Direct for savings, but keep your current checking account. And I think you can open and ING savings account with as little as $50.
Although Ing pays low rates, they are great to deal with. I keep my savings open for $1 till the rates go up. They took over another bank so my CD'S are with them also. As for direct deposit, something isn't right as they do have it. See this link:
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I have one
