Comments on: 10 Reasons why I love ING Direct

By: Libby

Libby — Fri, 28 Aug 2009 04:39:54 +0000

I love ING because I have checking accounts at more than one bank and ING allows me to link all of them and transfer money between them for FREE! Also, my ING e-checking now allows me to send e-mail deposits directly to friends and family members who may have accounts at a different banks than mine. So, for instance, if I need to loan someone in another city a quick $25 or if at 2 a.m. I remember I need to pay someone back money that I borrowed, it’s as easy as an e-mail and then the money is deposited directly into their account!
ING seems to be the one bank out there that is interested in making things easier for the customer AND they don’t add a bunch of extra fees for the convenience!!! So many banks seem to be looking for loopholes and ways to screw their customers. ING is the one bank that seems to have integrity.

By: bob

bob — Mon, 21 Jul 2008 14:25:36 +0000

@Andys
It can if you have a lot in there, but even if you have a couple thousand in ING, the difference would only be a buck or two a month. For the simplicity and all the other features, It hasn’t been worth the switch for me… But, if the time ever comes I will dig into HSBC deeper

By: Andys

Andys — Mon, 21 Jul 2008 14:02:03 +0000

Good analysis. I did a similar one comparing HSBC and ING direct. End of the day, HSBC’s higher APY was the differene to me. At almost 0.5%, that adds up to a lot of money.

By: Blogging Down Debt

Blogging Down Debt — Sun, 20 Jul 2008 20:48:33 +0000

It just seems that they “get it” more than other companies lately. They make things more simple and are working on removing the hidden costs that many companies prey on people with.

I have had sharebuilder since before they bought it and loved it before and love that they haven’t tried to change it for the worst.

By: bob

bob — Wed, 16 Jul 2008 12:39:54 +0000

@Scott
thanks for sharing. That does bring up a good point – you basically can NOT open an ING account unless you have a checking account at a “regular” bank.

What I think ING is doing is using the “regular” banks as a filter to weed out the “bad” customers who can’t handle having a checking account. By only allowing customers to open an account IF they already have a checking account, ING is greatly reducing their risk of “bad” customers.

It’s not a big deal for most people, but it is something to be aware of.

By: Scott

Scott — Tue, 15 Jul 2008 21:12:05 +0000

I’m new to ING (less than a month) and am excited about all that it has to offer. But let me offer some warning that I wish someone had given me before I waded in.

My goal was to open savings accounts for my minor children to get their money out of local bank savings where they were earning like 0.20% or some whopping amount. But what a process it has turned into.

First, open a checking account for each child at our local bank (with me as a joint owner). Easy enough. Second, open ING joint savings account (one owner has to be 18 or older) with child #1 with link to child #1’s checking account. Also easy. Now the fun starts.

Try to open ING joint savings account for child #2 and link it to his checking account. Can’t do it. Have to first add his checking account as a second linked account to my ING customer number. Oops, can’t do it online until the first ING account has been open 30 days. No problem, says the ING CSR, just do it by mail. The instructions online are clear, however, that to do it by mail the name on the check you have to send them must match exactly your customer name. Uh-oh, because it’s my son’s checking account, his name is on his checks but he’s not the ING customer yet, I am. So, now I’m stuck waiting out the 30 days to hopefully be able to add his checking account as a linked account to get this deal done.

What a hassle! Maybe it will be worth it in the long run. But right now, it is just a major pain…with his money sitting in a non-interest-bearing checking account while we wait.

By: bob

bob — Tue, 15 Jul 2008 14:14:32 +0000

@Paul
I am with you, when I consider the amount of time and energy it requires chasing the best rates – opening, closing accounts, etc – I am extremely content sticking with ING until they give me a reason to look elsewhere.

By: Paul Williams

Paul Williams — Tue, 15 Jul 2008 13:07:38 +0000

I agree. Other people will argue that you can get higher rates elsewhere, but I think given ING’s reputation, safety, and easy to use features it’s worth not getting an extra 0.2-0.7% interest a year – especially when you’re not guaranteed to keep receiving that premium rate.