Bps=basis points. 100 basis points = 1.00%

I have had Ing Direct , Ally and Hsbc direct accounts.

I use ING for my reserve account , and Ally for my emergency / vacation / perpetual savings / child savings accounts. I really like Ally and the way I can transfer on particular schedules, especially on the 15 day schedule - the same as I get paid . I like the ability to just mail a check and get it deposited with Ally , even though I suppose I could use an atm / debit card.

My vote today for online savings is with Ally.


**Marcopolo

I use ING as my online savings. Had no issues with them so far.

I also use a 15th/end of month savings schedule through ING. Super easy.

I've been reading lots of reviews for Ally, ING, and a few online banks. But I can't seem to find any consistency; it's almost pathetic. For every reviewer that touts the bank as spectacular, the next warns of his or her horrific experiences.

I see that in this thread, most everyone has had positive experiences at both Ally and ING. But many other online reviews (certainly not all) of Ally indicate the following troubles:
- gross transaction errors by the bank; this sounds like it randomly occurs
- unable to perform all transactions online (must call)
- troublesome to withdrawal, unacceptable money transfer speeds

From what I've seen, it appears that reviewers find ING to be a little more competent about making successful transactions, but generally are unhappy with service after it was bought by Capital One. Some reviews also claimed similar issues as stated above about Ally.

At BBB, Ally is not accredited and has a "C+" rating. ING is accredited and has an "A+" rating.

I also looked at a few other banks, but Everbank has too many requirements for me (must deposit every month, etc.), and Charles Schwab's rate is way too low. The American Express Savings doesn't sound promising either. That's why I'm focusing between Ally and ING.

I have used ING since 2007. I have no complaints yet. I love the multiple savings accounts, and it's free to send checks to people!

I wrote a blog post awhile back about how it helps keep my wife and I on our budget using the multiple savings accounts.

http://ourwallets.com/ing-direct-keeps-us-on-budget/

Well it turns out my interest in ING was all for nothing; since I'm currently living abroad I was ineligible to open an account (and that was after going through the whole process and calling them). But Ally allowed it, so that's what I ended up going with. At least it's a slightly better interest rate (a whopping .04% better at the time of this post ).