ING Direct vs Emigrant Direct Bank

[jmjj215]

Re: ING Direct vs Emigrant Direct Bank

As far as the paypal, that was a few years back, and i honestly cannot remember the details, i just remember being frustrated... will never do large transactions wit h them....

That I can understand. I was talking with one of the original employees of Paypal (he's no longer there, doing his own thing now) and he said at first they had lots of fraudulent stuff going on so they would freeze an account on a whim - just to be sure it wasn't fraudulent. It was quite a time. He said now the situation is much improved.

Again though, I can only speak from personal experience but I've run tons of transactions through with them and it's as straightforward and easy (they're famous for being easy to use) as ever. And 4.26% is hard to beat!

[yellow tree]

Re: ING Direct vs Emigrant Direct Bank

As far as the paypal, that was a few years back, and i honestly cannot remember the details, i just remember being frustrated... will never do large transactions wit h them....

I did open HSBC and I did not get a $25 offer or bonus from them either, should I contact customer service? And demand it?

thanks

I think you have to wait for a couple of weeks to get the bonus...

[xMoneyMakerx]

Re: ING Direct vs Emigrant Direct Bank

I ended up getting an account with Emigrant and i just received the welcome letter. On the Welcome letter it says to go to the Emigrant website and click on I just recevied my welcome letter or something like that but when i go to the site that option isn't there. Did anybody else have this problem?

[BTC]

Re: ING Direct vs Emigrant Direct Bank

I ended up getting an account with Emigrant and i just received the welcome letter. On the Welcome letter it says to go to the Emigrant website and click on I just recevied my welcome letter or something like that but when i go to the site that option isn't there. Did anybody else have this problem?

My welcome letter said to go to View Account and Sign Up, which appears to still be an option.

[xMoneyMakerx]

Re: ING Direct vs Emigrant Direct Bank

Yay! Thanks it worked!

[Ima saver]

Re: ING Direct vs Emigrant Direct Bank

Does any body miss the good old days, when you just walked in a bank and did your transactions?

[GrimJack]

Re: ING Direct vs Emigrant Direct Bank

Part of the problem with ING Direct is how successful they have become at gathering deposits. If you look at their Call report they have about 35 Billion in deposits at the moment. And with the yield curve as flat as it is they most likely will be parsiminous with their rate increases.

Emigrant is still in the process of growing and in addition their website is not extremely user friendly so they have to pay a bit more. HSBC has all those credit card assets paying nice high rates so can pay nice high rates as well.

Almost apropos, I remember the beginning of the S&L failure was their mad attempt to get some deposites - they were stuck with home loans locked in at 3-5% for 30 years and money was costing 8-10% so they offered no minimum CDs at 15% and they could rent the money out at about 18% (credit cards were running 20-30 %). This was the glory days of the early 80s (cash machines offered the option of getting $5.00 bills).

Actually, this was probably apropos of absolutely nothing but I kind of enjoyed taking a trip back, sorry.

GJ

ps I just looked at my post and now understand that everyone is not saving for school - that had me confused (a mother of 5 saving for college?) I guess I am saving for Kindergarden

[JPWRana]

Re: ING Direct vs Emigrant Direct Bank

OMFG!!! I just read ALL 383 posts, and I got LOTS of useful information

ED-
sucks at registration
lengthy registration
compounding is done monthly
plenty ppl complain about ED
money transfer to ED = 1 day
money transfer to YOUR BANK = ?? days
Higher APY than ING
Any information on CD's?

ING-
Awesome registration
awesome GUI (graphical user interface)
compounding is done daily
almost NO ONE complaining about ING
money transfer TO ING = 2 days
money transfer TO YOUR BANK = approx 5 days
Lower APY than ED
Excellent rates on CD's

Based on all of this, I will start with ING. There is a branch in Los Angeles, in case I ever NEED EMERGENCY MONEY (although I dont see why that situation would be real since I have a credit card)

Also, HSBC seems to interest me. I will go over the HSBC v. ED thread.

[Ima saver]

Re: ING Direct vs Emigrant Direct Bank

HSBC is foreign owned. Bless your heart, you read everything??

[Ima saver]

Re: ING Direct vs Emigrant Direct Bank

Jack, I got confused to about the saving highschooler, type thing. I thought at first I was on a site for kids learning how to save. It did not take me too long to realize that there were no kids here.

[sweeps]

Re: ING Direct vs Emigrant Direct Bank

HSBC is foreign owned.

This is the 2nd time I'm seeing this. My question is, why does it matter? Why should I give up .25% - .45% in interest simply based on where a bank's headquarters is located?

By the way, everyone realizes that ING is based in the Netherlands, right?

EDIT: In addition -- I'd have to look up the figures to be certain, but I'd be willing to bet that HSBC employs a lot more Americans than does Emigrant Bank.

[Ima saver]

Re: ING Direct vs Emigrant Direct Bank

I am not critizing, I am new to this spot and am posting what little I know about the bank.

[Ima saver]

Re: ING Direct vs Emigrant Direct Bank

I can get almost as good a rate right here in my home town.

[sweeps]

Re: ING Direct vs Emigrant Direct Bank

Ok, it sounds like you should keep your money in your hometown bank. Be prepared though -- hometown banks tend to get gobbled up pretty quickly by bigger banks nowadays.

[JPWRana]

Re: ING Direct vs Emigrant Direct Bank

HSBC is foreign owned. Bless your heart, you read everything??

Please explain to me HOW this is relevant?

Is a foreign bank a bad thing? Even though they be FDIC insured?
If a foreign bank funding terrorism? Is it anti-patriotic (because i am not patriotic)?

I really don't see what's wrong (or right for that matter) with HSBC. I read ALL the posts in this thread to know about ING and ED... NOT HSBC!!!!

To know more about HSBC, i will read on a different thread.

Again, ING and HSBC are foreign owned... so why didn't you say that ING is foreign also?

Please tell me in which of the +380 posts does it say that HSBC is foreign owned.