Christian Financial Forums

[Bob]

Are you happy with them?

[inlovewithjen]

I was with PC Financial up until a few months ago (Canadian online bank). Now I have an account with Edward Jones, and all the excess funds not in GICs, Bonds or Stocks is in a money market holding tank.

I was very happy with PCF, and still have the empty account

[timwilson]

I use ING and am happy with them. I also have a couple other accounts at Citibank Direct and HSBC but am not as happy with them. I set them up to test them out.

[welikemoney]

I use HSBC and I love them! I opened an account there before finding out about ING (which most people tend to use, even though their rates are slightly lower than HSBC). I use HSBC to keep money for our emergency fund, automobile maintenance, and car insurance. Very handy and nice to accumulate the interest each month!

[matt]

I have a few accounts at ING and a savings account at etrade.com (which wasn't an option in your survey). ING is very easy to use and it's also easy to find information (like routing numbers and your current interest rate) at least vs etrade. However etrade isn't that user unfriendly and their rate is generally a bit higher than ING (currently 3.3% vs 3.0% at ING) so probably not anything that's really worth switching for.

I keep our emergency fund at etrade and I have a few misc savings accounts with ING.

I also tried ING's electric orange checking account but I didn't really like it all that much. their idea of electric checks is innovative but most people I wanted to give a check to were scared of it. I also didn't like that their ATM network didn't have many ATMs near me in my city. I haven't tried etrade's checking account yet but I've looked at it and I like that we get regular checks (for the 2 per month that we still use) plus they reimburse ATM fees so basically you can use any ATM to get cash. I'm not sure how the checking accounts compare on rates, since it's been a while since I looked at them.

Regardless I think we'll be keeping some sort of local bank account simply for the convenience of depositing the occasional check we receive.

[pochax]

i had used ING for the last 4 years but recently came upon DollarSavingsDirect.com (division of Emigrant) which competes with WaMu and HSBC for highest online rates so now i've switched over.

[Bob]

Matt I agree about the checking deal - I do love ING's checking, but you are right - you still need paper checks...

@Pochax
what are their rates right now?

[pochax]

3.75% APY (min.$1000)...i think WaMu is the same without the minimum but i hear a lot about WaMu being in trouble so that has scared me off even tho i know it's FDIC-insured. ING is at 3% if i am not mistaken.

[llotich]

Thanks to you Bob, I use ING and I love it. It is so easy to save for any and everything in your life. I have found it especially helpful when trying to save for being in friend's weddings and vacations. Taking $25 out of my paycheck every other week and stuffing it in somewhere really adds up and it is nice when the money is just sitting there waiting for me!

[Punkin256]

I love ING!! They make it so easy to save and watch your money grow

[shan]

I just opened a Fidelity online checking account, it is 1.75 % interest, there are no ATM fees and paper checks are free.
That one I am going to have automatic deductions sent to it and I'll use it for unexpected repairs, gifts, and any other non-monthly expenses. That will help me even out my monthly budgeting.
I plan to open an ING savings account later for my emergency savings. The interest rate is higher but their ATM's are not conveniently located for me. But as long as I hardly ever need to touch that money, that's ok.
Shannon

[morprussell]

I use ING as well as FNBO. I've been very happy with ING, but I wish they would offer a little more competitive rate on their savings account. I'm really enjoying the 3.5 apy on my FNBO. I only wish FNBO would update the amount of interest you have earned daily instead of monthly. I really love to drop by and see that amount grow daily.

[pochax]

I use ING as well as FNBO. I've been very happy with ING, but I wish they would offer a little more competitive rate on their savings account. I'm really enjoying the 3.5 apy on my FNBO. I only wish FNBO would update the amount of interest you have earned daily instead of monthly. I really love to drop by and see that amount grow daily.

Do ANY saving accounts add interest daily? i don't know if any...

[Bob]

I agree 3.5 is nicer than 3.0, but for the amount I have in there it is not worth my energy to get the extra .5% and I still have yet to find an online bank that offers everything in such a nice package that ING does

[CreationCare]

I am happy with ING. Their rates have gone down since I first signed up but they still kick my bank and credit unions rates and their cd rates are on par, if not better, than both of those as well.

[tcstone]

I use my local credit union and love it. Online access to all my accounts. I can easily move money between the accounts, and I get a good interest rate.

[nizzie]

i use both ING and HSBC, having switched from emigrant just recently. both were offering deals to sign up and have a higher rates than ED.

[mutex]

I love ING, it might not be the best rate but a good company

[tinabeane]

I have been using ING for the last few months and it is great. Good saving interest rate and have also made $250 by having friends open up a saving account with a referral code. I use BOA for my general billing and to write out my one check a month for rent.

Tina

[Bob]

wow tina, you made $250 referring people!! That is impressive - how did you get 25 referrals?

[geekgirl4god]

We have an online savings account with WaMu (now JPMorgan Chase) and have had a pretty decent return. It started out at 4.5% and it's at 3.5% now, and it doesn't have a limit. One of the best ones I've seen out there for how much we have in there (we are working on our 3 months of living expenses emergency fund right now). It's also great because I have access to it at the ATM, so I can deposit checks directly into it.

[mutex]

I use ING , pretty happy so far

[pochax]

[url]DollarSavingsDirect.com[/url] has increased their APY from 3.75% to 4.00% despite the Fed cut. although you need $1000 minimum balance, it's the highest i've seen out there short of being a CD.

[tinabeane]

Hi Bob,

From another money blog that I visit, my referral codes for ING were listed. It only took about one month to make that $250.00

I really like ING, it's easy to use and set up separate saving accounts.

[Thryah]

I use USAA since their teen checking account got me free checks and reimbursed ATM fees, as well as cash back on my debit card use. I can also transfer money to and from my savings account with them as much as I'd like, without a minimum balance on either account. The rates on savings aren't nearly as good as other online banks (not sure exactly what they are now, I think around 1.75 or so, could be wrong), but the ease of use is nice, and being able to transfer instantly. I've been wanting to get into ING though, and it sounds like everyone here has good things to say. Anybody use their CD's? I think I heard they had an automatic ladder system or something like that. How well does that work?

[nizzie]

wow tina, you made $250 referring people!! That is impressive - how did you get 25 referrals?

i still have a bunch of referrals left if anyone is interested in opening up an ING account (note, you need to make a 250 deposit to get the 25 bonus). feel free to pm me!

[CoolHappyGuy]

I have used Citi for several years and, overall, am very satisfied with them. Recently, however, I have had difficulty with the 6 withdrawal limit that such accounts have. To address this, I signed up with ING. I have used the ING Electric Orange checking account for my Blog. I am very impressed with ING. They are very easy to use, user-friendly, and even humorous.

With both/either of these accounts, I wish there was an easier way to depost paper checks. To facilitate transfers, I use a passbook account that exists for no other reason. ING wishes paper checks would go away but not quite yet.

(Bob, your forum wouldn't let me vote twice (it must not be based in Chicago ) but a vote should be cast for Citibank. (I voted for ING initially.))

[Bob]

you are right - most of the "modern" banks are quietly discouraging the use of paper checks... I haven't found a good solution, for now, I just deposit them into my Credit Union and transfer the funds to ING...

A side note, you mentioned the 6 w/d limit, I couldn't tell from your comment if you know this or not, but many people dont - That is actually a government restriction on Money Market accounts - technically most of the high interest "savings" accounts are money market accounts, therefore most of them have the same 6 w/d limit each month...

Not sure if you saw the post, but I wrote about my ING Hack for getting around the 6 withdrawal limit... It isn't a perfect solution, but it works...

[MrsDave]

I use ING Direct for our emergancey fund and savings toward a cheap truck right now. Best thing I ever did was start reading the finance blogs and start an emergancey fund as we just used it 2 weeks ago. Also love learning about God's plan for our finances and why its not wrong to be wealthy.

[arkyscott]

I recently opened an account at ING Direct for myself and my two children. Haven't used it extensively. I'm also in the middle of giving the SmartyPig thing a try.

[schnarkle]

ING and I love em...

[mcelizabeth]

I use Capital One High Yield Money Market. I don't like it that deposits take so many days to post, but it pays much better than an account at a local bank. It's about 3% right now. It's my first experience with online saving. I'm willing to switch if I find something better.

[ahallihan]

I have used FNBO for 1 1/2 years and had no complaints. I feel that their rates are near the top and easy interface on the webpage.

[alaskanjark]

I have 4 savings accounts at ING. I have been very happy and pleased with them, except they have lowered the interest rate to 2.5%! I shouldn't be surprised, though.

[Bob]

yea, they have lowered their rates, but all banks have. It will probably be a while before we are getting 5-6% on a money market account again...

[pochax]

FYI, DollarSavingsDirect.com still has 4.0% APY and it is FDIC-insured. I don't know how long they can keep it up in this environment, but why not take the extra yield while they offer it?

[Bob]

wow, pochax, that is pretty high - I am still at the point where the amount I would gain each year is negligible, so I will stick with ING, but when I do have %50,000 in my emergency fund, I think I might be jumping ship

[pochax]

yeah, Bob, i know what you mean - i still keep a chuck of change in my ING account kind of as a halfway house for $ for short-term goals (since it is so easy to set up those mini-accounts online). so far, i have set one up for vacations and one for wedding/birthday/christmas gifts. it's basically psychological for me because i don't want to withdraw any money from the higher-interest savings account and seeing those accounts there (and what tiny balances are in them!) reminds me i need to save for things like that.

[pochax]

FYI, DollarSavingsDirect.com still has 4.0% APY and it is FDIC-insured. I don't know how long they can keep it up in this environment, but why not take the extra yield while they offer it?

i take that back. DSD has dropped their rate to 3.5% APY and ING has dropped to 2.4% APY today. i would expect more drops to come in the near future until interest rates start coming back up (unlikely to happen until credit starts easing up).

[cisco]

I use GMAC bank. I like the money market because I can write checks or use a debit card. I also like the savings account because I earn a little more interest with it.

[Amatachick]

I vote for the option not on the ballot, I don't use an online account.

[Bob]

Amata,
as you can see from looking at the results it appears to be a pretty poorly written poll - most of the choices I have on there don't have a single vote I will do a better one next time!

[bobster126]

I use ING also. I have a couple of CD's and the savings account and transfering money to the savings is very easy. I love it. I do not do my checking through there as of yet. Thanks

[mapane]

I'm looking to open a savings account myself in the next couple of weeks and I appreciate everyone's suggestions on here. This has been extremely helpful in my due diligence.

[sasijb]

I have the Electric Orange and a few Orange savings accounts at ING. I also have my Emergency fund at GMACBank. I found with my EF at ING it was too easy to transfer money out of it. Having it separate keeps my hands off it better.

I love ING. Have never had any problems. I use the online bill pay quite a bit. One time a fairly large check did not show up where it was supposed to. I had ING investigate and they canceled the check and issued a replacement free of charge.

[CoolHappyGuy]

ING Rocks! The ability to create a savings account in 3 clicks with just $1 is a great way to save for intermediate and longer-term needs.

My finances are practically on autopilot thanks to Mint & ING.

[garyatk]

I just opened an Emergency Fund with Ally, and our Car Fund with ING Direct. I couldn't pass up better interest than the MM Prime at Vanguard.

[tim_v]

I have a account with ING. My one complaint is that the ability to download transactions seems to come and go and hasn't worked recently. Anyone else have this problem (and solve it)? I haven't worked on it much because it doesn't make much difference.

[matt]

I'm kind of anti-Ally since they are GM's bank (rebranded) and I was (still am) against the bailout.

[pochax]

I'm kind of anti-Ally since they are GM's bank (rebranded) and I was (still am) against the bailout.

Although Ally did get part of the bank bailout (TARP - as many banks did), they did not get part of the auto bailout.