ING-Emigrant hoopla?

[I'm going to win]

I see a lot of people writing about how great these two are, so I went to bankrate.com to see all of the rates. Well I don't know anything about ING or Emigrant but I saw a lot that had higher rates than these two so my questions is whats wrong with these other banks? Are they charging for deposits and withdrawls, hard to deal with ie. no customer service, change rates so often it's like watching the yo-yo go up and down. Well anyway time to move some money and it will be moved to a 5.00% or better unless you guys tell me why you are so in love with ING and Emigrant. Kicking the crap out of the local bank .25%.

PS I know about some of the minimum balances and that's not a problem for me. Also the minimum deposit anything under $5K is also fine.

Thanks in advance, just trying to learn something new everyday.

[sweeps]

ING and Emigrant were the original online savings accounts. The others are just not as well known -- not necessarily worse or better.

[poundwise]

Click the link in my signature for a list of these types of account offerings (including some not listed on Bankrate.com)

To address the question, Sweepsplayer has it right. Also, there is something to be said for additional services, customer service, speed of transactions, and web site functionality. Not all of the banks offering higher interest compare favorably with ING and Emigrant (and others) in these other areas. Still, you are right to notice, especially in the case of ING, that are many other offerings exceed 5% APY including several at 5.25% APY and higher.

[QueenOphelia]

Originally Posted by I'm going to win

I see a lot of people writing about how great these two are, so I went to bankrate.com to see all of the rates. Well I don't know anything about ING or Emigrant but I saw a lot that had higher rates than these two so my questions is whats wrong with these other banks? Are they charging for deposits and withdrawls, hard to deal with ie. no customer service, change rates so often it's like watching the yo-yo go up and down. Well anyway time to move some money and it will be moved to a 5.00% or better unless you guys tell me why you are so in love with ING and Emigrant. Kicking the crap out of the local bank .25%.

PS I know about some of the minimum balances and that's not a problem for me. Also the minimum deposit anything under $5K is also fine.

Thanks in advance, just trying to learn something new everyday.

ING was hot 2 years ago...not anymore.

[nanamom]

I went with ING because I was a little nervous about online banking and I wanted one which has been around for a couple years. Security is important. Plus I could test it out wiht very little at first and go bigger is I felt it was to be trusted.

[bigsaver]

ING was the first, now the rate is not that good. I think for the rate and the amount of hassle, HSBC and emigrant are about equal even though now HSBC has a 6% rate for all new money thru april.

I had a bad experience with eloan, so I would not recommend them. They had the highest rate when they first started, but now have dropped and have been eclipsed by igobanking which I have been okay with.