Question: What is an ING account??

[Jenniflower]

Hi! I'm relatively new to this site - been here about 2 months, have a little financial blog and just started reading the forums.

Anyways, I hear people talking about an ING account.
What exactly is this - an online bank maybe?
How is their service? I am a little nervous of online banking (I know it's probably safe, but...) I just prefer to go to my credit union where everyone knows you by name. BUT, if ING has really good rates, then maybe I could put a little money in an account.
Any info about it would be helpful! (or any other online account that you like)
Thanks in advance!

[Broken Arrow]

Welcome, Jenni.

Yes, ING is an online bank.

As for the best rates, our esteemed Poundwise maintains a list of bank rates for your perusal.

[Ima saver]

I have a little money in ING. but it only pays 4.5% and I am getting over 5% at my local banks.

[poundwise]

ING is an online bank. They are not limited to, but are most well-known for, their Orange online savings account. At one time, they offered one of the highest rates for savings. Now, many other players, have entered the online savings account arena. Familiar names like GMAC, Citibank, etc. as well as some you are likely less familiar with like Emigrant Direct, iGOBanking, etc.

There is little reason to be intimidated by online banking. Security is a priority and, with some exceptions (like Ima referred to), you won't get rates like these from local institutions.

If you visit the list on this forum as Broken Arrow suggested, you'll find more details about available accounts. If you have any questions, you can post them at the end of that thread or PM me and I'll be glad to assist if I'm able.

[click4credit]

If your worried about ING being unknown then don't be. ING are a Dutch based bank and one of the worlds major financial instituitions. The ING Direct division is currently the world's leading direct savings bank with over 18 million customers in 9 countries including USA, UK and Australia. Since arriving on the market they tend to have among the most competitive interest rates. HSBC is also worth looking at for savings accounts.

[jamai]

ING is well established, in the UK they run prime-time TV adverts, and you will find them in some papers too..