ING Direct vs Emigrant Direct Bank

[Realtor]

Re: ING Direct vs Emigrant Direct Bank

Feds raise interest rates to 4.25% today. Now lets see if ED raises their rates. Its been a while since ED has raised their rates. I agree its feels like ING is playing catchup and its not really in the game.

[CJsoccerchic]

Re: ING Direct vs Emigrant Direct Bank

I'll be sweet and quiet and make my deposits so long as I'm not fired from ING! Seems every two weeks (after payday!) I put in some money into ING and I am liking the progress - it seems more easier for me to save online then to go to my credit union.

[CJsoccerchic]

Re: ING Direct vs Emigrant Direct Bank

Ooooo - here's another article about online banking!

http://money.cnn.com/2005/10/02/pf/debt/internet_banking/index.htm

Sorry this one is a little outdated - but concepts are still good!

[genchan]

Re: ING Direct vs Emigrant Direct Bank

so is Emigrant going to disappoint everyone and leave their rate at 4.0%?

[jmjj215]

Re: ING Direct vs Emigrant Direct Bank

They've lead the rate increase before...right now Paypal is the winner at 4.12% for me Of course that's a MM acct - not FDIC insured, may lose value, etc.

[sweeps]

Re: ING Direct vs Emigrant Direct Bank

Has the ING vs. ED debate finally been rendered moot?

HSBC raises rates to 4.25%

[ken1706]

Re: ING Direct vs Emigrant Direct Bank

It does look like Emigrant may follow ING with the "low" rates. Perhaps once a bank gets so big with so many deposits, there's less incentive to be on top of the rate wars. However, it should be noted that Emigrant was 0.25% under many other banks before their last 0.50% increase.

One interesting point about Emigrant is that this is the first time in which they have lagged the Federal funds rate. Before the Fed rate increase on Tuesday, Emigrant was always equal or higher than the Fed funds rate.

[jmjj215]

Re: ING Direct vs Emigrant Direct Bank

Are there any hsbc promos for signing up? That'd really entice me to hop over w/ a bit of money.

[ken1706]

Re: ING Direct vs Emigrant Direct Bank

Are there any hsbc promos for signing up? That'd really entice me to hop over w/ a bit of money.

I just gave an answer in this new thread:
HSBC vs Emigrant

May be time for a new thread since ING seems to have given up the race.

[terry1156]

Re: ING Direct vs Emigrant Direct Bank

While I do agree that ING no longer has the best rates, I don't think they should be dismissed for those who don't have an online bank account yet. They are by far the easiest account to open as it only takes minutes instead of weeks to do so. And there is a $25 bonus for doing so - even with the $250 minimum, that is a 10% annual return and actually much more because you don't have to keep the $250 in the account if you don't want.

I'm coming to the conclusion that it's best to have an account with each of the banks. I just opened an Emigrant account for my wife and got the $20 bonus and I'll be trying the HSBC account and $25 bonus here soon.

[CJsoccerchic]

Re: ING Direct vs Emigrant Direct Bank

Here's hoping for the best...although, I do hope that ING gets on the bandwagon and raises their rates a LOT more!

[robby]

Re: ING Direct vs Emigrant Direct Bank

While I know the rates are better at the other banks, ING is so much easier. Why can't the other banks make their sign-up process a 10 minute and you're done experience like ING?

[BTC]

Re: ING Direct vs Emigrant Direct Bank

Enough with the pretenders. Bring on the contenders. I'm going to open an HSBC Direct account. I'm pretty sure Emigrant will eventually at least match their rate and I'm pretty sure that ING will not.

[terry1156]

Re: ING Direct vs Emigrant Direct Bank

I still left my ING account open, but have applied to open a HSBC account.

[Ima saver]

Re: ING Direct vs Emigrant Direct Bank

I can get 4.14% locally. I did open an ING account, but my local bank can beat the rate, so why move anymore money to ING. I did like that the account was easy to open and I got the $25.