ING Direct vs Emigrant Direct Bank

[poundwise]

Re: ING Direct vs Emigrant Direct Bank


Random thoughts --

I've seen even more new complaints about ED's site being slow and timing-out. It is clearly not happening to everyone or at all times of day but, just as clearly, it is happening with some frequency.

Seems as though ING's recent move from 4.35% to 4.40% hasn't made a ripple. I believe it is just an attempt to placate some current customers just enough to keep them from jumping ship. IMO, its as close to nothing as you can get. I guess ING holders should be happy it went up instead of down at this point.

I'm interested in seeing Capital One's new interface. It is supposed to be in place by mid-month.

OneUnited is still the rate leader. Its tempting to open an account there just to be able to report on how well the site works and about their customer service, speed of transactions, etc. Maybe someone will do so soon.

[risknothing]

Re: ING Direct vs Emigrant Direct Bank

ING could also try to use the strategy that they can maintain and raise their rate for longer. While all other banks move from 5 or 5.15 to 4.8 and lower ING can Stay at 4.4 and even move up.

By the way, why does Amboy have a link to a Aboy direct site that only has a 4.28 e-savings account when we all know they have a Amboy direct that had 5.15%? I i signed up for the 4.28% i would be pissed.

[sweeps]

Re: ING Direct vs Emigrant Direct Bank

ING could also try to use the strategy that they can maintain and raise their rate for longer. While all other banks move from 5 or 5.15 to 4.8 and lower ING can Stay at 4.4 and even move up.

You're right. Every time ING raises its rates, even by .05%, it gets an advertising boost from its affiliates who say "New Higher Rate!!"

[cklballs]

Re: ING Direct vs Emigrant Direct Bank

I would like to know what these two banks do anyway.
I read the info but I'm still confused. Please advise. Thanks.

[risknothing]

Re: ING Direct vs Emigrant Direct Bank

I dont understand your question, "What do these banks do?"

[joseblanco]

Re: ING Direct vs Emigrant Direct Bank

I would like to know what these two banks do anyway.
I read the info but I'm still confused. Please advise. Thanks.

They offer high yield savings accounts but online only so no brick-n-mortar teller service, not ATMs etc. You link the account to an existing checking account and you can link it to other accounts. You can then via the internet transfer funds into the account. This can be done on a case-by-case basis or automatically at pre-set time intervals. You can also have your pay check fully or partially deposited directly into the account.

Currently traditional banks are offering about 1% or less for their various traditional checking and savings accounts. ING offers 4.4% plus signup & referral bonuses. ED does not have a bonus now, but has a better rate of 5.15%.

Hope that helps.

[cklballs]

Re: ING Direct vs Emigrant Direct Bank

Thanks so much. It did help and I appreciate it. Have a great weekend.

[joseblanco]

Re: ING Direct vs Emigrant Direct Bank

You're most welcome. You too. Ciao

[krayziebone33]

Emigrant Lowered Cd Rate

I was on Emigrant's site checking my information and noticed that their CD rate. It used to be 5.35% and now is 5.20%. Wow, that's odd. Should one be worried about that? Could we be seeing a trend soon?

[dstratton]

Re: ING Direct Bank vs Emigrant Direct Bank

Hello Jeffrey,
What is your view of HSBC?
David

[disneysteve]

Re: ING Direct vs Emigrant Direct Bank

amtrustdirect.com is now at 5.26% for their money market account with a $1,000 minimum.

[krayziebone33]

Re: ING Direct vs Emigrant Direct Bank

Thanks Disneysteve for posting the Amtrust link. Anyway, my question is this . . . if I opened the 12-month CD with them or anyone and I lock in with them, would I be able to transfer money into that CD or not? I know I would not be able withdraw any of the money, but would I be able to keep adding to it?

[disneysteve]

Re: ING Direct vs Emigrant Direct Bank

if I opened the 12-month CD with them or anyone and I lock in with them, would I be able to transfer money into that CD or not? I know I would not be able withdraw any of the money, but would I be able to keep adding to it?

I think there are banks that offer a CD product like that but I don't know that Amtrust is one of them. If you have more money to add at a later date, why not just purchase another CD?

[sweeps]

Re: ING Direct vs Emigrant Direct Bank

Most banks do not allow you to add funds to a CD. But a few do. Do a google search for "add on certificate of deposit".

[joseblanco]

Re: ING Direct Bank vs Emigrant Direct Bank

Hello Jeffrey,
What is your view of HSBC?
David

While I'm not Jeffrey I do have exposure to HSBC. I think they offer the best comprehensive package of banking services that spans/integrates online banking & brick-n-mortar banking. They have a competitive yield, the include online deposits as part of any aggregate deposit requirements to avoid fees or obtain benefits. They have a worldwide branch network, to include branches in all major US cities. You get access to your funds in all the traditional methods + the online methods. I've always experienced top shelf customer service. I've recommended the bank to several friends who've transferred their deposits to HSBC. One cannot go wrong in selecting them for your banking needs. Jose