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My account moving in the right direction and just wanted to know from someone who is with ING direct is it better to have a money market account with my bank or go to ING Direct?
My account moving in the right direction and just wanted to know from someone who is with ING direct is it better to have a money market account with my bank or go to ING Direct?
ING direct is better because they typically offer a higher rate of return. They do this because of their low overhead. If you like the comfort of going into a bank to get your money, then stay there. You won't have that opportunity with ING direct.
Both savings accounts offer the same protections under the FDIC.
Im a pretty big fan of ING direct, their sharebuilder side is so-so. I started with them 2 or 3 years back and their savings acct interest rates were 3x better then my banks.
so what interest rate does ING pay now. I just bought some New Jersey municipal bonds which give 5%. I couldn't find anything close to that anywhere else and I had a sizeable amount parked at l.5% I just couldn't afford to do that anymore.
so what interest rate does ING pay now. I just bought some New Jersey municipal bonds which give 5%. I couldn't find anything close to that anywhere else and I had a sizeable amount parked at l.5% I just couldn't afford to do that anymore.
Its garbage now, under 2%. Sadly thats still better then any of my local banks. I have a decent amount of money that I want to be pretty liquid so I just have it in there
so what interest rate does ING pay now. I just bought some New Jersey municipal bonds which give 5%. I couldn't find anything close to that anywhere else and I had a sizeable amount parked at l.5% I just couldn't afford to do that anymore.
Muni bonds are hard to beat. Not only do they pay more interest, but most are tax free, so that 5% is more like 8%.
I have ing accounts and am quite pleased with them. Go to their web site and they will tell you what the interest is on all the different types of accounts.
As far a muni bonds, it's pretty difficult for a government to leave you hanging. Even if a city, County, or state goes BK, they don't go away..! They never go away, they just oeprate under different rules, and keep on paying..!
Man, I remember starting with ING very soon after they launched, had to be 9 years ago? Anyway, they were paying 7% back then, insane...I still have money in there although not nearly as much as I did. They are great, extremely simple to use and move money back & forth from account to account as needed.
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