ING Direct vs Emigrant Direct Bank

[34saving]

I thought I was crazy too. They should be on the left side under "transfers" when they show up, but mine took a couple of days . . . .

[bman46]

Originally Posted by 34saving

I thought I was crazy too. They should be on the left side under "transfers" when they show up, but mine took a couple of days . . . .

Ok, thanks a lot for the info, much appreciated.

[jmjj215]

Do they do that on purpose b/c you can't deposit and/or withdrawal for a specified amount of time? Seems odd.

The reasons above are not worth the .6 percent to me. 1 percent and I'm in like a dirty shirt though.

[ken1706]

Originally Posted by jmjj215

Do they do that on purpose b/c you can't deposit and/or withdrawal for a specified amount of time? Seems odd.

The reasons above are not worth the .6 percent to me. 1 percent and I'm in like a dirty shirt though.

I noticed the same thing when I first joined. I waited a few days and the withdrawal/transfer links appeared. I've also seen it mentioned by others.

I think it is on purpose due to initial withdrawal restrictions. The software should be written better so it'll let people know that the capability is there but not yet available.

Haven't had any other issues since I've been a member. It even has some features that I like better than ING.

[genchan]

Do you think we'll see another increase in interest rates with the Fed increasing their rates to 4% of do you think that both ING and Emigrant will remain where they are?

[fratkid21]

okay, i had the same problem at first.... i did call them and talk to them: once your account is fully activated, it takes one full business day, before your "transfer funds" link becomes available on the left hand side of the screen.

i actually have not had any problems with either ED or ING, and am happy with both so far...

now then, having said that, the fed funds rate is up, and there are a few banks giving higher rates --- check out bankrate.com. has anyone heard of these other banks???

Also GMACBank.com is offering 3.75, better than ING also. This is a very good bank/company. I have 2 mortgages with them, and am considering moving my remaining ING funds to them, any thoughts?

[ken1706]

Originally Posted by genchan

Do you think we'll see another increase in interest rates with the Fed increasing their rates to 4% of do you think that both ING and Emigrant will remain where they are?

My guess is that Emigrant will remain where it is for the rest of the year. Emigrant has only made 3 increases in its savings account rate this year while the Fed has done around 7 increases. Perhaps if other banks start passing 4%, Emigrant may up it to 4.25% before the end of the year.

On the other hand, ING seems to do more rate changes but these are smaller. Like in September after the last Fed hike, Emigrant went from 3.5% to 4.0% while ING went from 3.30% to 3.40%. I anticipate ING making another small increase in the next week and probably another similar one before the end of the year. But ING will likely still be behind Emigrant even if Emigrant stays at 4%.

[jzunic]

I need a bit of help - I'm halfway through the sign-up process for a new ED account, and I'm not sure if I messed something up, or if I'm supposed to wait.

I signed up for an ED account on Monday. The new deposits showed up in our checking account this morning, so I followed the link from the initial ED email, and entered in the information.

Then, I had read online that if I look at my checking account, I can figure out my new ED account number by looking at the ID of the two deposits from ED. So I went back to the ED website and followed the Sign-Up process for new customers, using the account number associated with the deposits to complete the form (instead of waiting for the letter to come in the mail). Anyways, it let me proceed, and I eventually got to a page thanking me for completing the form, and now I have to wait for approval or something. I went back and tried to log in using my new user ID and password, and it wasn't accepted.

Am I supposed to wait for another email to confirm my account is now active? Or should I be able to access the account immediately?

I hope that's clear - I know I can just wait for the letter to arrive in the mail, but I thought I'd try using the account number associated with the two deposits, and now I don't know if that worked or not.

Thanks for your help!

[jmjj215]

It even has some features that I like better than ING

Could you elaborate? Thanks

[ken1706]

Originally Posted by jmjj215

Could you elaborate? Thanks

ED has a secure messaging system in which you can send account specific questions. ING doesn't have this. You have to call if you have account specific questions. One time I emailed ING a generic type of question, and they considered it an account specific question and told be to call. That was a little frustrating.

[jeffrey]

<a href="http://www.anrdoezrs.net/click-1120978-10281102" target="_top" >ING Direct</a><img src="http://www.awltovhc.com/image-1120978-10281102" width="1" height="1" border="0"> has increased their interest rate to 3.5%

[CJsoccerchic]

Sweet!!! More interest compounded since I don't have ED. Has ED upped it's rate?

[genchan]

I think a 0.10% increase by ING was a pretty weak increase and I'm disappointed it wasn't more.

[Armywife]

They have raised short term CD rates though.. looks kinda tempting.

[Firefly]

Yeah I just received an email about the rate increase.

[terry1156]

I would have liked it to be a little more than .1%, but it's better than nothing at all (glass half full mentality)

[BTC]

I recently moved all but 15 cents from ING Direct to Emigrant Direct. I haven't experienced any problems at all and received my hat a couple of days ago. I had no idea I was going to receive this hat. I must say, it's a mighty fine hat. It's easily worth 25 bucks and by the time I auction it on EBay, I figure I'll be ahead a few dollars.

ING has a much better user interface and a more secure login process, but it primarily comes down to the interest rate. I was disappointed when I learned that another institution was besting their rate by 17%. I actually spent 2 years doing some software consulting at ING's North American headquarters in Atlanta. It was a great place to work.

Emigrant might offer a secure messaging system, but it's of little value if they fail to respond to your inquiries, which has been my experience thus far. I did receive a letter this week stating that Emigrant has opened a new "state-of-the-art" Customer Service Center in Westchester. So, maybe their front end experience will improve.

All in all, my transition from ING to Emigrant has been pretty painless and I certainly appreciate the increased returns.

[jmjj215]

Did anyone get the ING gift recently? We received an ING nightlight, pen, and notepad. The pen's kinda crappy, the notepad's great, and the nightlight is utilitarian at least

[34saving]

You're kidding that the Emigrant hat is worth $25, right?? No. I want my nightlight! (Of course, maybe ING is mad I moved 1/2 of my savings, but . . .)

[BTC]

Originally Posted by 34saving

You're kidding that the Emigrant hat is worth $25, right?? No. I want my nightlight! (Of course, maybe ING is mad I moved 1/2 of my savings, but . . .)

I was kidding about the value of the hat, but it isn't a bad hat. Nicer than I would have ever expected. Plus, I never knew I was going to receive one. So, it was like a bonus.

I was happy with ING, but their rate isn't really competitive when you start looking around. Plus, I never got a nightlight. I did get a desk clock and key chain when I worked there. I wonder what those would bring on EBay.

Until I heard about Emigrant, and found sites similar to this one, I thought ING Direct had a one of a kind offering. I have no doubt they could offer a better rate, if they were so inclined.