Emigrant vs ING Direct
Emigrant Direct allows you transfer funds in/out of your checking account by next business day if you enter the transaction before 3:30EST the current business day. So if I request a withdrawal from Emigrant Direct into my checking on 3/30/05, the funds will be deposited into my checking on 3/31/05.
ING Direct floats your funds an extra business day. So if you ask ING Direct to deposit into your checking account on 3/30/05. It will be taken out of your ING account on 3/31/05 but not deposited into your checking acct until 4/1/05.
The bottom line is this, ING Direct will earn 2 days of interest from every dollar you deposit with them. One day float on the way in and one day float on the way out.
Just curious if anyone else with ING Direct have noticed this. I have pursued this with them with no avail.
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