I just opened a ING online account

bjl584 · #1 (**permalink**) 01-28-2007, 08:10 AM

I just opened an online ING account. Does anyone have any thoughts? Is there any potential problems or issues that I should look out for, or has anyone had any problems with ING? I figured that it was a winning idea, since there are no fees and no minimums. This is the perfect account to keep and build my emergency fund. Any ideas, opinions, and/or comments are welcome. Thanks.

Wealthizfreedom · #2 (**permalink**) 01-28-2007, 08:51 AM

It's a great account, but know that any deposits have a ... I want to say 5 or 7 business day hold until you can move it. Also they have a really secure website, I was suprised at how many levels you need to go through to set it up. Have fun saving!

Bookie · #3 (**permalink**) 01-28-2007, 09:38 AM

You did good

Just remember to feed it regularly, and your new account will thrive.

LuxLiving · #4 (**permalink**) 01-28-2007, 12:29 PM

I had a problem with them where they locked up my accounts for four or five days when no one could tell me why - it seems that they do have limits on the number of accounts that you can have or be linked to as a joint owner regardless of the fact that I was told at opening that the number was 'unlimited'.

trillium · #5 (**permalink**) 01-28-2007, 08:21 PM

I have had an ING for quite a while. We used it for a new computer purchase two years ago and then I completely forgot about it.

Turns out I had $250 sitting in it earning intrest for a good year. I'm leaving it there as an emergency fund for my emergency fund

Paul H · #6 (**permalink**) 01-29-2007, 02:45 AM

Wise choice. Their site is very secure (seems a little overkill, IMO) and their products are pretty competitive. I hear they're rolling out their "Electronic Orange Free Checking" to the public on February 1st. I already signed up for it (they offered it early to many existinc customers) and it looks pretty neat...

Best,
Paul

RetireEarlyFool · #7 (**permalink**) 01-29-2007, 09:31 PM

Besides ING, theres also

HSBC
Citibank
Emigrant Direct

I believe they all have better interest rate than ING.

poundwise · #8 (**permalink**) 01-30-2007, 06:32 AM

Quote:

Originally Posted by RetireEarlyFool

Besides ING, theres also

HSBC
Citibank
Emigrant Direct

I believe they all have better interest rate than ING.

True. ING is a quality source with a very nice site, etc. but they have lagged well-behind in terms of rate among Internet bank offerings. Still, I think it is a good choice for someone getting started; especially if one is a bit timid about opening an online account.

For other banks and rates, you can click the link in my signature.