-
Hey, guest user. Hope you're enjoying NeoGAF! Have you considered registering for an account? Come join us and add your take to the daily discourse.
ING Direct - Safe?
- Thread starter beerbelly
- Start date
- Status
WasabiKing
Member
beerbelly said:
Yeah, I'd like to find out more from someone who actually has an account set up. There's no minimums? And if I need to move money around, is there's a charge for it? Anyway, details, cause I don't believe their slick TV ads when they say that there's no catch, especially when all business majors know that there ALWAYS will be one.
Saint Cornelius
Banned
I have an account set up with them. I'm very pleased!
No minimum, that is correct. There's no 'catch'; they have one brick-and-mortar location, and since there is no building & staff overhead to deal with, they can turn around and give you excellent interest rates.
The only downside is that you have to link an external checking account to them; you can't just open an ING direct account. You transfer funds from your checking account to your savings, and vice versa. It takes about 4 - 7 business days. I wish there was a way to link the ING account BACK to my checking, like an overdraft protection plan, but no bank on the face of the earth allows you to do such a thing (believe me, I've been looking).
Another fabulous online-only banking institution you should check out is NetBank. You have to deposit $50 to open an account, but they give you %1 interest on your checking account! That may not seem like much, but I don't feel that a bank should hold my money for FREE, you know? Besides, keep $1,000 in there for a week, and get $10 interest back? That's dinner!
No minimum, that is correct. There's no 'catch'; they have one brick-and-mortar location, and since there is no building & staff overhead to deal with, they can turn around and give you excellent interest rates.
The only downside is that you have to link an external checking account to them; you can't just open an ING direct account. You transfer funds from your checking account to your savings, and vice versa. It takes about 4 - 7 business days. I wish there was a way to link the ING account BACK to my checking, like an overdraft protection plan, but no bank on the face of the earth allows you to do such a thing (believe me, I've been looking).
Another fabulous online-only banking institution you should check out is NetBank. You have to deposit $50 to open an account, but they give you %1 interest on your checking account! That may not seem like much, but I don't feel that a bank should hold my money for FREE, you know? Besides, keep $1,000 in there for a week, and get $10 interest back? That's dinner!
Crazymoogle
Member
ING basically owns all of the assets from that London bank scandal a long time ago, so yeah, you can trust them. They are big players in the world financial situation but just aren't as well known in the USA.
As mentioned in this thread, you can only deal with ING *through* ING. That means logging on to their awesome and simple website to do transfers (you can ask for monthly statements and even apply for a debit card, though). I currently use a line of credit through them (used it to pay off my CC since 7% sure beats out my bank's VISA rate of 18.9%) and strangely enough it takes longer for them to receive your money than it does for you to take theirs. Weird, but cool I guess.
If I didn't need to keep a monthly minimum on my bank account, I would probably use ING even more often. Their savings account interest levels blow away most brick-n-mortar's.
As mentioned in this thread, you can only deal with ING *through* ING. That means logging on to their awesome and simple website to do transfers (you can ask for monthly statements and even apply for a debit card, though). I currently use a line of credit through them (used it to pay off my CC since 7% sure beats out my bank's VISA rate of 18.9%) and strangely enough it takes longer for them to receive your money than it does for you to take theirs. Weird, but cool I guess.
If I didn't need to keep a monthly minimum on my bank account, I would probably use ING even more often. Their savings account interest levels blow away most brick-n-mortar's.
Phoenix
Member
If you see "FDIC Insured" on ANY bank, you can trust that your money is backed by the government and that the bank has fairly strict regulations that it has to deal with. If, however, its like Paypal (i.e. not FDIC insured banking) - you're just as safe leaving your money under your doormat. If something goes wrong you can report it to the police, but noone is obligated to give you your money back until the police find the loser and can extract the money from him.
- Status