ING Direct

[Roy4President]

I have heard a lot of things about using ING Direct as a savings account. However, I have just graduated and don't have a lot of experience in this type of thing. Does anyone have recommendations about ING Direct?

How about using it as a savings account after I have used my Employer Matching, and Roth IRA?

Thanks!

 

[dlatin]

I've been using it for years and it is great. I ended up setting up an oragne checking account because it was giving like 4%, not so much anymore, but still pretty high.

Its pretty easy to set up, pm me your email and I'll send you a referral and I'll get $25!

 

[Roy4President]

Does ING allow me to set-up "sub-accounts" easily? For instance, if I want to have a vacation fund?

 

[Larry T. Spider]

Yes. I have a vacation fund as well as a new car fund. Its all very easy.

 

[Stuck_At_Work]

There have been plenty (and I mean plenty) of discussions about the greatness of online savings accounts. I would do a search...

In summary, there are a handful of companies people like to use. ING is probably the most popular. There are a couple other popular ones includes E-Trade savings, etc..

ING is really user friendly. The savings rate fluctuates based on the market. It was as high as 5+ percent at one point, but it is down to 3+ percent right now. Get a friend (like me) to recommend you and you get $25 free right of the bat.

 

[BA93]

With everyone wanting your referral, you should be asking for a little extra from the.

but to your original question, I'm a big fan of ING Direct. I also have a E-Trade Savings account which pays better, but I prefer ING. If I remember correctly, they can deposit the money back to you a day faster, but that may have changed. Of course, E-Trade is nice if you like to buy/sell stocks every once in a while. Takes seconds to transfer it to your trading account.

On a side note, brokerage firms like E-trade really screw you over but offering the E-trade savings account but not recommending it to you when you have money just sitting in your brokerage cash account. they claim to want to help you grow your portfolio but how many millions do their customers have in the brokerage cash account making less than .5% APR when you can get 3% right there by clicking a button. rant over.

 

[CRunfola]

I am planning to open an ING Direct account. Anyone wants to split the referral fee with me? First person to send me an IM.

 

[TheFied]

I like ING alot. Very user friendly. I use it for my savings and it is easy to set up CDs and sub accounts. I have a sub account for my projected property taxes and IRS taxes (what I think I'll owe).

Some other websites/banks have better rates but ING is very user-friendly, very competitive and I don't want to move at this time.