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 Post subject: Other bank as good as ING Direct?
PostPosted: Sat Jan 12, 2013 7:51 pm 

Joined: Sat Jan 12, 2013 7:41 pm
Posts: 1
I love ING Direct. However, since their interest rates are no longer the best, and in case the Capital One acquisition turns out to be bad, I'm looking at other options. Here's what I loved about ING:

-The ability to overdraft and use their overdraft line of credit with a low APY.
-Ability to mail free checks to people
-Ability to create multiple savings accounts
-Free, fast transfers between external accounts (and between your ING savings accounts)
-Effective customer service
-Automatic transfers and deposits
-Automatic savings plan
-I feel my money is safe & secure
-High interest rates on the Checking and Savings Accounts

The bonuses were nice too.

Is there any bank that can match their services? At least the first 5? I want a good interest rate too because I get .5% from my local credit union.


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 Post subject: Re: Other bank as good as ING Direct?
PostPosted: Tue Jan 22, 2013 4:46 pm 
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Joined: Sun Aug 10, 2008 2:50 pm
Posts: 154
Location: South Florida
I consider interest rates on liquid accounts to be essentially zero in the current market environment ... I just disregard them entirely (although I'll still update the entries on CalendarBudget with the extra few cents deposited every month).

I am reluctant to even go shopping around for other online banks. I doubt anything can even come close. I will be sticking with Capital One 360 unless things really turn sour.


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 Post subject: Re: Other bank as good as ING Direct?
PostPosted: Wed Jan 23, 2013 3:43 am 

Joined: Tue Aug 02, 2011 7:39 am
Posts: 57
If you (or an immediate family member) were in the military, I'd strongly recommend checking out NFCU or USAA.


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 Post subject: Re: Other bank as good as ING Direct?
PostPosted: Wed Jan 23, 2013 8:39 am 
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I keep getting mail advertisements for high yield savings accounts from American Express Bank. They seem to be competitive with ING. I have no idea how good or bad the customer service and/or online interface is.

But I agree with Frugalcoconut...liquid accounts should be considered to earn no interest right now. That is not their purpose. Personally I would select one based on safety (FDIC insurance), convenience, and customer service.


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 Post subject: Re: Other bank as good as ING Direct?
PostPosted: Sun Jan 27, 2013 9:20 am 
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Joined: Sun Jan 27, 2013 9:18 am
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I have both USAA and NFCU accounts right now and their interest rates are pretty poor. I'm pretty sure ING/CO360 has them beat in that category.

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 Post subject: Re: Other bank as good as ING Direct?
PostPosted: Mon Jan 28, 2013 8:23 am 

Joined: Thu Aug 09, 2012 5:34 am
Posts: 7
I had an ING direct online savings account for years but have kept my checking with Wachovia/Wells Fargo for convenience (branch is down the street). After ING rates started falling and they were bought out by Capital One, I opened an online savings account with ALLY. I have since closed out my ING account. I would highly recommend ALLY Bank since their rates are higher, they offer good CD rates with lots of options, and I am also considering opening a checking account with them. I've had no complaints and I've been with them more than 6 months so far.


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 Post subject: Re: Other bank as good as ING Direct?
PostPosted: Mon Jan 28, 2013 12:48 pm 

Joined: Fri Jan 18, 2013 7:21 am
Posts: 95
Location: New York
MoneyLifeandMore wrote:
I have both USAA and NFCU accounts right now and their interest rates are pretty poor. I'm pretty sure ING/CO360 has them beat in that category.


And these two, as far as I know:

-The ability to overdraft and use their overdraft line of credit with a low APY.
-Ability to mail free checks to people

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 Post subject: Re: Other bank as good as ING Direct?
PostPosted: Thu Feb 07, 2013 6:08 pm 

Joined: Thu Feb 07, 2013 3:34 pm
Posts: 2
As far as your concern over your money being safe and secure, as long as the FDIC logo is on the door and your account balances are below the maximum insurance limit, you need not worry. I once had an account at a bank that failed and the FDIC assisted transition of another bank taking over the failed bank was as smooth as silk.


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 Post subject: Re: Other bank as good as ING Direct?
PostPosted: Thu Feb 07, 2013 8:44 pm 

Joined: Sun May 29, 2011 4:50 am
Posts: 171
Mario wrote:
And these two, as far as I know:

-The ability to overdraft and use their overdraft line of credit with a low APY.
-Ability to mail free checks to people


What is overdraft? What are checks?


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 Post subject: Re: Other bank as good as ING Direct?
PostPosted: Wed Apr 03, 2013 1:54 pm 

Joined: Fri Jan 18, 2013 7:21 am
Posts: 95
Location: New York
Justus wrote:
Mario wrote:
And these two, as far as I know:

-The ability to overdraft and use their overdraft line of credit with a low APY.
-Ability to mail free checks to people


What is overdraft? What are checks?


Checks, I understand, but presumably you still have a checking account even if you only access it by debit card (or are so modern, you only access it online), and overdraft is an option your bank offers... Being ignorant of options has a bad habit of costing people money

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Track my fiscal fitness with $0.5 million in debt: http://getrichslowly.org/forum/viewtopic.php?f=11&t=61052 Latest update: As of April 16, I've paid off $21,400 in credit card debt this year (after starting with $35k)


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