ING Savings vs. Emigrant Direct Savings
Author: diddlydudette
Joined: 17 Jul 2005
Posts: 56
PostPosted: Fri Jul 22, 2005 1:14 pm Post subject: ING Savings vs. Emigrant Direct Savings
Anyone have experience with either and can explain how it works.
I see where ING is giving you like 25.00 to open acct and it's 3.15 interest and I also see where Emigrantdirect.com has 3.5 intererest.
I'd like to stick maybe 15,000 in one for about 6 months or longer depending on when I buy my house.
Are both taxed?
Do I need to purchase software for either? Seems like I read you'd need Quicken for ING.
I just don't unerstand these and how they work. They are both FDIC I believe.
Thanks Y'all!!!!!!
Author:PFFrank
Joined: 22 Jul 2005
Posts: 5
PostPosted: Fri Jul 22, 2005 3:39 pm Post subject: Re: ING Savings vs. Emigrant Direct Savings
diddlydudette@yahoo.com wrote:
Anyone have experience with either and can explain how it works.
I see where ING is giving you like 25.00 to open acct and it's 3.15 interest and I also see where Emigrantdirect.com has 3.5 intererest.
I'd like to stick maybe 15,000 in one for about 6 months or longer depending on when I buy my house.
Are both taxed?
Do I need to purchase software for either? Seems like I read you'd need Quicken for ING.
I just don't unerstand these and how they work. They are both FDIC I believe.
Thanks Y'all!!!!!!
Yes, both are FDIC insured and are very similar in what they offer. I currently have an account with ING and have read very good things about Emigrant.
You do not need any software to have an account with either. They have their own interface for online banking via their website. Like most online financial institutions, you can link your account to an existing checking/savings account and make immediate or scheduled deposits. Withdrawels go back into the linked account and generally take 1-2 business days to happen. They are taxable accounts.
If you need the money in the short term like it sounds like you do, these are both great options.
PFFrank.com
Personal Finance, Frankly Speaking
Author: diddlydudette
Joined: 17 Jul 2005
Posts: 56
PostPosted: Fri Jul 22, 2005 4:41 pm Post subject:ING Savings vs. Emigrant Direct Savings
Thanks PFFrank.
I think I'm going to bite the bullet and try out this emigrantdirect.com. I wished I knew about it and how it worked earlier. Sounds like a great deal. I found a site for Presidential.com at 3.75%, but they require 5,000 minimum which I didn't want to mess with. Not worth the extra percentage to me.
Even though INGdirect offers the 25.00 bonus to sign up, I think the higher interest with Emigrantdirect will make up for it in the long run.
Thanks again!!!!!!!!
Suzy
Author: rain
Joined: 05 Dec 2004
Posts: 138
PostPosted: Fri Jul 22, 2005 11:09 pm Post subject:ING Savings vs. Emigrant Direct Savings
Do a search for a better ING deal polonius pointed out, for $50.
Author: Polonius
Credit Expert (100+ Posts)
Joined: 19 Jan 2004
Posts: 1008
PostPosted: Fri Jul 22, 2005 11:21 pm Post subject:ING Savings vs. Emigrant Direct Savings
You get the $50 bonus at ING with any size deposit--and you can pull out the money at any time after a month and keep the $50. Send a buck to ING and deposit the rest at EmigrantDirect if you like. Why think about the long run? If you're willing to park your money for the "long run" you can get higher interest rates with a CD rather than with a savings account.
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
Author: diddlydudette
Joined: 17 Jul 2005
Posts: 56
PostPosted: Sat Jul 23, 2005 5:59 am Post subject:ING Savings vs. Emigrant Direct Savings
Thanks y'all. I only see where ING is giving you 25.00 to open an account. You open acct. with 1.00 and they put in 25.00. Is there a promotion going on for 50.00? Heck, I'd open an account for 50 bucks...that's free money. 25.00 wouldn't be for me if I had no intentions of keeping it open. I don't need all the paperwork and hassle of later closing it, etc.
I just opened the Emigrant acct so I've got that done and it feels good to make a little mula with my money.
Author: stevejk
Joined: 22 Sep 2004
Posts: 30
Location: Florida
PostPosted: Mon Jul 25, 2005 1:05 pm Post subject:ING Savings vs. Emigrant Direct Savings
I have money in both places -- to avoid single point of failure if one goes belly-up and I have to get my money back from the FDIC. In case you do have Quicken or MS Money, they both have Web Connect to download transactions. ING Direct asks more questions to log in than Emigrant Direct, but Emigrant requires you to change your password occasionally.
Emigrant does have it's own bonus. A few weeks ago I received a box from them. Didn't hear a ticking noise. Didn't see any mysterious white powder. They sent me a ball cap with their logo on it. Unfortunately it is a white cotton cap and the dye from the red thread of "Direct" is not colorfast. Wore it in the Florida heat and humidity and now the front of the cap has a faint pink tint to it. Smile
Author: creditcrazy
Joined: 29 Jul 2005
Posts: 6
PostPosted: Sun Aug 14, 2005 8:30 pm Post subject:ING Savings vs. Emigrant Direct Savings
i have an ing direct account since jan 05' and i must say i am impressed with them...they are currently offering 3.15 interest on a savings and i have a feeling it will raise shortly. it was 2.10 when i first got the account. i was also able to get the $50 bonus for opening the acct. the website is easy to use i have never had to call customer service. i highly recommend them.
Author: rain
Joined: 05 Dec 2004
Posts: 138
PostPosted: Fri Aug 19, 2005 6:59 pm Post subject:ING Savings vs. Emigrant Direct Savings
ING direct interest rose to 3.3% a few days ago. This isn't the highest rate you can get, but to me, there's a trade off between rates and services or security, so I chose ING over other netbanks.
Author: doniam
Joined: 20 Jun 2005
Posts: 9
PostPosted: Sun Aug 21, 2005 9:37 pm Post subject:ING Savings vs. Emigrant Direct Savings
I have an account with both and think ING does a much better job.
ED is still learning it seems and needs to get it's act together, answering emails activating options etc
doniam
Joined: 17 Jul 2005
Posts: 56
PostPosted: Fri Jul 22, 2005 1:14 pm Post subject: ING Savings vs. Emigrant Direct Savings
Anyone have experience with either and can explain how it works.
I see where ING is giving you like 25.00 to open acct and it's 3.15 interest and I also see where Emigrantdirect.com has 3.5 intererest.
I'd like to stick maybe 15,000 in one for about 6 months or longer depending on when I buy my house.
Are both taxed?
Do I need to purchase software for either? Seems like I read you'd need Quicken for ING.
I just don't unerstand these and how they work. They are both FDIC I believe.
Thanks Y'all!!!!!!
Author:PFFrank
Joined: 22 Jul 2005
Posts: 5
PostPosted: Fri Jul 22, 2005 3:39 pm Post subject: Re: ING Savings vs. Emigrant Direct Savings
diddlydudette@yahoo.com wrote:
Anyone have experience with either and can explain how it works.
I see where ING is giving you like 25.00 to open acct and it's 3.15 interest and I also see where Emigrantdirect.com has 3.5 intererest.
I'd like to stick maybe 15,000 in one for about 6 months or longer depending on when I buy my house.
Are both taxed?
Do I need to purchase software for either? Seems like I read you'd need Quicken for ING.
I just don't unerstand these and how they work. They are both FDIC I believe.
Thanks Y'all!!!!!!
Yes, both are FDIC insured and are very similar in what they offer. I currently have an account with ING and have read very good things about Emigrant.
You do not need any software to have an account with either. They have their own interface for online banking via their website. Like most online financial institutions, you can link your account to an existing checking/savings account and make immediate or scheduled deposits. Withdrawels go back into the linked account and generally take 1-2 business days to happen. They are taxable accounts.
If you need the money in the short term like it sounds like you do, these are both great options.
PFFrank.com
Personal Finance, Frankly Speaking
Author: diddlydudette
Joined: 17 Jul 2005
Posts: 56
PostPosted: Fri Jul 22, 2005 4:41 pm Post subject:ING Savings vs. Emigrant Direct Savings
Thanks PFFrank.
I think I'm going to bite the bullet and try out this emigrantdirect.com. I wished I knew about it and how it worked earlier. Sounds like a great deal. I found a site for Presidential.com at 3.75%, but they require 5,000 minimum which I didn't want to mess with. Not worth the extra percentage to me.
Even though INGdirect offers the 25.00 bonus to sign up, I think the higher interest with Emigrantdirect will make up for it in the long run.
Thanks again!!!!!!!!
Suzy
Author: rain
Joined: 05 Dec 2004
Posts: 138
PostPosted: Fri Jul 22, 2005 11:09 pm Post subject:ING Savings vs. Emigrant Direct Savings
Do a search for a better ING deal polonius pointed out, for $50.
Author: Polonius
Credit Expert (100+ Posts)
Joined: 19 Jan 2004
Posts: 1008
PostPosted: Fri Jul 22, 2005 11:21 pm Post subject:ING Savings vs. Emigrant Direct Savings
You get the $50 bonus at ING with any size deposit--and you can pull out the money at any time after a month and keep the $50. Send a buck to ING and deposit the rest at EmigrantDirect if you like. Why think about the long run? If you're willing to park your money for the "long run" you can get higher interest rates with a CD rather than with a savings account.
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
Author: diddlydudette
Joined: 17 Jul 2005
Posts: 56
PostPosted: Sat Jul 23, 2005 5:59 am Post subject:ING Savings vs. Emigrant Direct Savings
Thanks y'all. I only see where ING is giving you 25.00 to open an account. You open acct. with 1.00 and they put in 25.00. Is there a promotion going on for 50.00? Heck, I'd open an account for 50 bucks...that's free money. 25.00 wouldn't be for me if I had no intentions of keeping it open. I don't need all the paperwork and hassle of later closing it, etc.
I just opened the Emigrant acct so I've got that done and it feels good to make a little mula with my money.
Author: stevejk
Joined: 22 Sep 2004
Posts: 30
Location: Florida
PostPosted: Mon Jul 25, 2005 1:05 pm Post subject:ING Savings vs. Emigrant Direct Savings
I have money in both places -- to avoid single point of failure if one goes belly-up and I have to get my money back from the FDIC. In case you do have Quicken or MS Money, they both have Web Connect to download transactions. ING Direct asks more questions to log in than Emigrant Direct, but Emigrant requires you to change your password occasionally.
Emigrant does have it's own bonus. A few weeks ago I received a box from them. Didn't hear a ticking noise. Didn't see any mysterious white powder. They sent me a ball cap with their logo on it. Unfortunately it is a white cotton cap and the dye from the red thread of "Direct" is not colorfast. Wore it in the Florida heat and humidity and now the front of the cap has a faint pink tint to it. Smile
Author: creditcrazy
Joined: 29 Jul 2005
Posts: 6
PostPosted: Sun Aug 14, 2005 8:30 pm Post subject:ING Savings vs. Emigrant Direct Savings
i have an ing direct account since jan 05' and i must say i am impressed with them...they are currently offering 3.15 interest on a savings and i have a feeling it will raise shortly. it was 2.10 when i first got the account. i was also able to get the $50 bonus for opening the acct. the website is easy to use i have never had to call customer service. i highly recommend them.
Author: rain
Joined: 05 Dec 2004
Posts: 138
PostPosted: Fri Aug 19, 2005 6:59 pm Post subject:ING Savings vs. Emigrant Direct Savings
ING direct interest rose to 3.3% a few days ago. This isn't the highest rate you can get, but to me, there's a trade off between rates and services or security, so I chose ING over other netbanks.
Author: doniam
Joined: 20 Jun 2005
Posts: 9
PostPosted: Sun Aug 21, 2005 9:37 pm Post subject:ING Savings vs. Emigrant Direct Savings
I have an account with both and think ING does a much better job.
ED is still learning it seems and needs to get it's act together, answering emails activating options etc
doniam
