ING Direct vs Emigrant Direct Bank

[fratkid21]

Re: ING Direct vs Emigrant Direct Bank

ED has a great new website, good interface and 5.15 apy....

you should probably start there, unless you need emergency access to your cash, then i suggest hsbc.

[joseblanco]

Re: ING Direct vs Emigrant Direct Bank

I concur w/ fratkid21. ED has a better rate & a very user friendly GUI for their website. HSBC's rate is just slightly less and a more pedestrian GUI for their website. However, if you what more options in terms of access to your funds then HSBC is the way to go. HSBC recently sent me an e-mail saying they were going to enhance there website GUI. I have an HSBC branch near where I live and can bank there. HSBC has lots of branches in the NY state area and also in all major US cities. HSBC gave me a second cash bonus as an incentive to open a checking account and get an ATM card. HSBC has very good customer service and they are worldwide so if you travel alot HSBC maybe the better way to go. I do not know if ED also permits alot of crossbanking between its online branch with its brick-n-mortar branch. I do know ED is only in the NYC area so if they do allow cross-bnaking it would only benefit you if you're in the NYC area. ED does offer a nice APY on short term CDs and a cash back bonus credit card to its online depositors if you meet certain deposit requirements. Hope the info helps.

[Jewelsmom]

Re: ING Direct vs Emigrant Direct Bank

Our family of five savers have five seperate ING accounts. We are extremely happy with the user-friendly site and customer service. The web site is not cluttered and confusing and even my 13 yr old can log on and access her account.

The only problem we encountered was opening up my husband's account for $10K about 6 months ago. Because we wanted the $25 bonus, and he was already listed as a joint on my account, we had to call customer service & mail in a check for $250, not use the link. It all worked out great, we got an e-mail confirmation within 24hrs, confirmed two small deposits in the linked checking account from ING, and we then uploaded from our checking account the full $10K. It's to be noted, we DID get our $25 also.

We were very pleased.

I am interested in researching more about the HSBCdirect.com savings accounts. Does anyone have any information or experience with them?

[poundwise]

Re: ING Direct vs Emigrant Direct Bank

I am interested in researching more about the HSBCdirect.com savings accounts. Does anyone have any information or experience with them?

I do not have an account with HSBC, however, I can tell you that most of what I have heard has been positive. The only negative I have heard repeatedly is that transfers are executed and completed slowly.

You might also consider OneUnited, Apple Bank, Amboy Direct as alternatives; each presently offers a higher yield than HSBC, like Emigrant.

MMA list

[fratkid21]

Re: ING Direct vs Emigrant Direct Bank

HSBC gave me a second cash bonus as an incentive to open a checking account and get an ATM card.

Joseblanco -- when did you get the info about the new website?

and when did you get the offer for the extra bonus to open a checking account?

is it an online checking account, and did they give you a "code" to get the bonus (i.e. "start")?

[joseblanco]

Re: ING Direct vs Emigrant Direct Bank

Joseblanco -- when did you get the info about the new website?

and when did you get the offer for the extra bonus to open a checking account?

is it an online checking account, and did they give you a "code" to get the bonus (i.e. "start")?

Just this last week when I logged into check my account I had an e-mail saying HSBC was working on enhancing the site.

I used the start code for the online savings. I got a mailing a few months later with another code and the offer of free checks and an ATM card. Called the smart package (requires 3k in aggregate account funds) Now I am getting an offer to upgrade to the smart plus package and I will get a free night at a marriott. (requires 15k in aggregate account funds).

Good luck.

[Great to be Debt Free]

Re: ING Direct vs Emigrant Direct Bank

I want to open up one of these bank accounts I keep hearing about -- or savings accounts, rather, but don't know if I should open an ING to get the $25 and tehn wait the 30 days and close it to move to Emigrant or what... any advice
(c'mon, i know you wanna tell me .... )

[xs4all]

Re: ING Direct vs Emigrant Direct Bank

Wow !! I to am considering opening a ING account . But know I have more options that ppl have used that I didnt know about.

[LuxLiving]

Re: ING Direct vs Emigrant Direct Bank

GreatToBe-

Open both! Move your money back and forth between whichever has the highest rates at the time. When it comes to this I'm not going to be overly brand loyal to one over the other. I have both ING and Emigrant and like them both. ING does have a better interface but Emigrant is working to catch up. Emigrant has been around forever in brick and mortar banking!

[Great to be Debt Free]

Re: ING Direct vs Emigrant Direct Bank

Thanks, I did the ING last night. Figured I would do that, get it confirmed, send my unused referrals to this site in order to get the bonus for opening an Emigrant thru here. I like that the ER fund will be even further from reach -- and earning more too! WooHoo

[twins0203]

Re: ING Direct vs Emigrant Direct Bank

Is there a limit of accounts you can link to your ED account?

For those of you that have the ED credit card, can you pay it online from another account, like a local checking, other than your ED savings account?

Thanks

[krayziebone33]

Re: ING Direct vs Emigrant Direct Bank

My question is about OneUnited Bank. I see that they are offering 5.25% APY on their online savings account. Does anybody know much about this particular bank. All the talk has been about Emigrant, HSBC, etc., but OneUnited bank seems to be holding up very well against the competition, at least on the surface. I don't know if anyone has actually opened an account with them or not, but any input would be appreciated.

Now about Emigrant, I opened an account with them on August 13, 2006 and still have not received anything from them (account number, etc.) . This is a vast difference from my HSBC experience as my account information got to me within a week. I have tried calling the folks at Em. and their hold times are ridiculous. I guess this is no different from what many have expressed in earlier posts. Their transfers are really fast though. They got my initial deposit the same day that I did the account verification as opposed to the three days it too HSBC to complete the transaction. However, I have made up my mind not to transfer another dime into my Emigrant account until I do get the account information.

My HSBC experience has been a pleasure so far. Aside from the looong time it takes them to complete bank-to-bank transfers, their service is very good. Their website is nice and easy to use and it offers many good security features. Their staff could be a little better, but they aren't the worst I have ever dealt with. They seem to lack some of the answers to basic questions but nothing that cannot be overcome by just rephrasing or explaining your question better. All-in-all, they are a good online bank to deal with. That's my two-cents about HSBC.

[greedy4chips]

Re: ING Direct vs Emigrant Direct Bank

I applied for an Emigrant direct and ING Direct the same day. I had 4 deposits to my checking acct (2 from each), funny thing is they were exactly the same 2 amts. Anyhow Emigrant Direct acct verified immediately. ING Direct verification failed. I have to wait til tomorrow to talk to them...they do not have customer service right now.

[poundwise]

Re: ING Direct vs Emigrant Direct Bank

My question is about OneUnited Bank. I see that they are offering 5.25% APY on their online savings account. Does anybody know much about this particular bank. All the talk has been about Emigrant, HSBC, etc.

Frankly, and bluntly, my personal opinion is that people are turned off by the fact that the bank proudly proclaims that is "Black owned" and dedicated to involvement in the "urban community." Otherwise, I would think people would be all over the 5.25%, especially when OneUnited had that rate even before the other banks, like ED, went up to 5.15%. Now, of course, there is a rate offered of 5.26% APY offered by UFBDirect. That still doesn't explain how a bank like OneUnited could have, by far, the best rate for over two months yet generate so little buzz.

Of course, that explanation is not directed at anyone nor everyone. I'm sure many people just prefer to do business with the 'main' players (perception-wise) which would be, at present, ING, ED, and HSBC. Perhaps GMAC would be considered among those as well.

[joseblanco]

Re: ING Direct vs Emigrant Direct Bank

On OneUnited I would like to think that in this modern age sophisticated internet savers would not let the skin color of ownership cause them to pass on a better deal. I've done some research on OneUnited and I just cannot piece together enough of a picture to determine their viability. They appear to be a new comer to the internet banking arena and their marketing is not as high profile as the big players in the internet banking market. As I have several accounts already that are just 10 basis points off I have no motivation to move my funds. Once OneUnited expands their marketing footprint and maybe offers additional incentives and/or continues to leave the competition in the dust I would be open to moving my funds. I dumped ING long ago for HSBC & Presidential because of better rates, bonuses and flexibility of funds access. In my book OneUnited need merely state/market their case, provide clear advantages over the competition and they will be launched from obscurity to established front runner.