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Experiences with ING Direct?
Resonant
Registered User regular
Registered User regular
I need to leave my current bank simply because I am dissatisfied with the level of service. But that really is not the point of this.
A few people at my work have checking and savings accounts through ING Direct. I am interested in them due to the relatively good interest rates they have on savings accounts and I heard that their customer service is exceptional.
Does anyone here have any experience with them? Or should I stay with a brick-and-mortar bank?
A few people at my work have checking and savings accounts through ING Direct. I am interested in them due to the relatively good interest rates they have on savings accounts and I heard that their customer service is exceptional.
Does anyone here have any experience with them? Or should I stay with a brick-and-mortar bank?
Resonant on
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We do our checking with a local bank branch because we don't want to deal with ATM fees, but transferring money between our local account and ING account is really painless.
Sucks that ING Direct is like 1.10% interest/month right now though. It was 3.00% when I joined in 2008.
Let 'em eat fucking pineapples!
I use it for 75% of my savings and 95% of my checking. Love it, wouldn't think of switching anywhere else.
I still have a local bank for checking just like others have said, no atm fees.
wait
4% a month or 4% apr
if it was paying 4% a month wouldn't fund managers be putting other people's money in it?
I host a podcast about movies.
the only reason we left was that we got a mortgage
It was 4% apr at one point, and is now 1.1% apr so I don't know where the first poster got the month figure from. You can probably find better rates from other places now, especially local credit unions.
To bsjezz and anyone else, there's nothing wrong with using multiple bank accounts and banks and if you happen to use ING it's probably recommended so you can visit a branch office if needed or use any of the other services that aren't easily accessible or have an added cost if you only use ING.
I recently had an issue with my rent check getting lost in the mail (ING Direct lets you write checks from your account and they print and mail them for free). I finally sent an email to ING to "investigate the payment" and 3 days later, they had called my landlord and talked over the issue. They ended up getting them to waive my apartment late fee and ING did a stop payment on the check for free, got the money back into my account a day later. I was simply amazed that they went to the trouble to call my landlord and get things situated on my behalf.
The only issues I run into with ING Direct is:
1) Depositing checks is a bitch. I keep a local US Bank account just for this. The only way to physically deposit a check is for me to mail it off to ING.
2) They have an ATM network of free ATMs but they are (for my area at least) pretty randomly located and not very convenient. That said I can always get cash for free from the grocery store and debit cash back.
If you are going to sign up, I'd suggest getting a referral from any one of us. If you deposit $250+ or more, ING gives you a bonus $25 into your account.
Cheers.
Let 'em eat fucking pineapples!
well, sure, but interest earned in a savings account, even an excellent one, is never going to match interest paid on a home loan
therefore all my money is going into the home loan
Since I'm young and don't have very established credit yet, I need to fax in a copy of my social security card.
Thanks for the advice everyone. Any more experiences would still be helpful too!
that's what I thought. Because 4 a month would be like, an anti-credit card
I host a podcast about movies.
That said, I've thought about moving my savings to ING due to the interest rates. Interest rates are low now because of the economy, though, so they're not really going to be great anywhere. It's good to see that people have generally had pretty positive experiences with them 'cause I had some of the same concerns as the OP.
I think their dependents qualify as well. My parents have never been in the military, or else I most definitely would have went there.
I mean come on. Deposit checks using your phone? hell yes technology
However, if you're going to do everything with one online-only bank, you will probably be happier with an interest-bearing checking account from Charles Schwab. Their interest rates are a little lower than ING, but they ensure that you are charged NO ATM fees regardless of which ATM you use. So yes, theoretically you could be in Bangladesh and use your Schwab card to get money out of a local ATM, although more practically it means that when you need cash you just go up to whichever ATM is closest. They charge no fees and refund any other fees you're charged.
So they're a bit easier to use and deal with if you're looking to do everything at one bank. I use ING for my savings and Bank of America for my checking, so I have a "local" ATM/bank I can use.