Anyone have any experience with this? At first glance, it looks very promising. ------------------------------------------------------- http://home.ingdirect.com/ [FONT=Arial, Sans-serif, Helvetica]High interest, no fees, no service charges, no kidding. With an Orange Savings Account, you earn a variable 4.20% Annual Percentage Yield [/FONT][FONT=Arial, Sans-serif, Helvetica] (effective 11/01/07)[/FONT][FONT=Arial, Sans-serif, Helvetica] with a level of flexibility, freedom, and security you simply won't find at other banks. And because your account is FDIC insured, your account is secure. No required minimum balances. There is no minimum balance required to open your Orange Savings Account, and you don't have to keep a specific balance in your account to qualify for a high interest rate. No matter how much you have on deposit, the rate is still 4.20% APY. [/FONT] [FONT=Arial, Sans-serif, Helvetica] No fees. No service charges. No penalties. No hidden costs. ING DIRECT's Orange Savings Account won't burden you with fees or service charges. Period. So you earn high interest on your money. 24-hour access to your account, and you don't even have to change banks. An Orange Savings Account makes your money available to you whenever you need it. If you have an Electric Orange, you can transfer any or all of your available balance from your Orange Savings Account into your Electric Orange and have it instantly available for debit card or check purchases and payments. When you open your Orange Savings Account, it is automatically linked to the checking account used for your initial deposit. You can make deposits or withdraw funds by transferring money between your accounts online, through our Interactive Phone Service, or by speaking with an ING DIRECT Sales Associate. Pay Yourself First! The Automatic Savings Plan allows you to automatically have a fixed amount of money regularly transferred to your high interest Orange Savings from your linked checking account. You will be saving your money effortlessly and will have money for a rainy day or to achieve your dreams. You can either call us or set up your Automatic Savings Plan on this website. You specify how much money you would like transferred, and how often you would like it moved. This is the simple, easy way to really grow your Orange Savings Account.[/FONT] [FONT=Arial, Sans-serif, Helvetica]Start making more money on your savings right now. [/FONT][FONT=Arial, Sans-serif, Helvetica]You don't have to switch your bank; simply activate your Orange Savings Account today and start earning interest that will actually amount to something. While your APY may change at any time based on market conditions, you are assured high interest with an ING DIRECT Orange Savings Account day after day. [/FONT][FONT=Arial, Sans-serif, Helvetica]To apply online or download an application, simply click on the "Open an Account" button on this web site and follow the easy instructions. Or you can call 1-800-ING-DIRECT to request an Orange Savings Account Application, which you can complete and return by mail. Safe and Secure - FDIC Insured Your deposits at ING DIRECT are FDIC insured up to $100,000 per depositor. Keep in mind that individual and joint accounts are insured separately, so if you have both types of accounts with us, your total deposits can be insured up to $200,000; that's up to $100,000 in all of your individual accounts, and up to an additional $100,000 in all of your joint accounts. ING DIRECT's FDIC certificate number is 35489. You can learn more about the FDIC at their website, www.fdic.gov. We are registered with the FDIC under the name ING Bank, fsb. [/FONT]
ya know what...I have been meaning to throw some money in one of those online savings accounts. IIRC there are better rates out there than ING right now though.
Ok, one I had heard about having higher rates than ING was Countrywide (also known as the largest mortgage lender in the US), but it appears that you must maintain a balance over $10k to get the better interest rate. https://bank.countrywide.com/CWBRates.aspx?tab=sl HSBC is 4.5% http://www.hsbcdirect.com/1/2/1/default/learn-more/osa?code=PPGA460000 Another good link to check out with a bunch of deals on it http://www.money-rates.com/specials.htm Hope that helps, BP
Clark Howard's current recommendation is for the bank named "Emigrant Direct" google it Apparently it offers over 4% and you need at least $1 to open an account
I have had this for 3 yrs and I am very happy with it. I think Alex has it too. IF you want let me send you a referral so I get $10 and you get $25. -Joe
I use Etrade. APY at 5.05% with the rate at 4.93%. So far I've been pretty happy. Makes decent money and all transactions from my checking (with wachovia) to my savings just show up like a payment so no transaction fees. Transfers are usually done with in 1-2 days depending on when I processed it. Just need $1 to open the account with, but you can drain it to 0$ if you wish. The 1$ is not a fee and will show up in your account.
Ive heard about the E-trade one, ING appears to be one of the most reputable about it right now. I wouldnt give any mortgage company my cash right now either haha. One more to consider would be Emigrant Direct Just do it, it wont bite.
Honestly, they are all FDIC insured, so as long as you keep it under $100k then you are fine no matter what...
That's awesome. Does the same apply to ING? I know ING doesn't charge any fees for transfers but I wonder if Wachovia would.
I opened an ing account this summer. It is really easy to use. The only downside is it takes about 2-3 three days to put money in and take money out. which can be a pita
not sure exactly what you mean here. Basically etrade has a little menu to 'transfer money', once it's linked to your desired account you transfer money to and from with that menu. So it deducts money from my checking account as if I paid for something with a debt card and it deposits like a refund.
I've had my ING account for a little over a year now and haven't had any complaints. It's definitely earned me more in interest than my previous savings accounts. You might want to check out a site like www.bankrate.com to compare some options.
I have this account also. I've had no problem adding and taking money out when I needed it. I had a good pile of money in a short term CD that was earning 5% then I took a smaller protion and put it in ING with 4%. I liked have some liquidity.
Yeah I have an ING account. Only thing that Ive noticed is that the rate dropped like a rock (but to be expected at this point).