ING Direct vs Emigrant Direct Bank

[gavinmccallister]

Re: ING Direct vs Emigrant Direct Bank

If you would like to open up an account with Christian Community Credit Union you can open up a account online, let me know if you open one.

[BTC]

Re: ING Direct vs Emigrant Direct Bank

Is the 6% CD at CCCU limited to no more than a $2500.00 deposit?

[Firefly]

Re: ING Direct vs Emigrant Direct Bank

I would not close my ING account.... I left $1 in there. They say, no minimums, no fees, ever...

just leave it open, who knows when they will decide to become competitive again, then all you have to do is transfer money back in... just leave a dollar in there...

I agree.

[gavinmccallister]

Re: ING Direct vs Emigrant Direct Bank

Is the 6% CD at CCCU limited to no more than a $2500.00 deposit?

The CD is only $2500.00 I believe and the money market account is up to $2500.00 if you go over or below $1000.00 before the 6 months you will only get the going interest rate I figure if you put in just enough to where your interest won't throw you over I figure time to get some free money

[CJsoccerchic]

Re: ING Direct vs Emigrant Direct Bank

So you need a minimum deposit of 2500.00$$$????????

[sweeps]

Re: ING Direct vs Emigrant Direct Bank

The maximum deposit is $2500.

[fratkid21]

Re: ING Direct vs Emigrant Direct Bank

The maximum deposit is $2500.

whats the point.... a hassle for only being able to deposit $2500.

[Well Spent]

Re: ING Direct vs Emigrant Direct Bank

Is it worth it to open an account if you only have $400 to start with and add $50/month considering the interest you gain is taxable income?

[twins0203]

Re: ING Direct vs Emigrant Direct Bank

Well Spent,

The way I look at it is I'd rather make lets say $100 and give Uncle Sam $25 which leaves me with $75 profit, than to not want to mess with the taxes and be ahead by $0.

[gavinmccallister]

Re: ING Direct vs Emigrant Direct Bank

Yes, you need $2500.00 I am going to do it!

[Well Spent]

Re: ING Direct vs Emigrant Direct Bank

Twins ,

I agree. But Is it a hassle to claim the interest that you made on your tax forms? How does that work?

[enabler]

Re: ING Direct vs Emigrant Direct Bank

Twins ,

I agree. But Is it a hassle to claim the interest that you made on your tax forms? How does that work?

Should be like any other interest bearing account. The bank will mail you a 1099 form stating all the interest made in the past year, which you report like any other income.

[CJsoccerchic]

Re: ING Direct vs Emigrant Direct Bank

SO anytime after I open a CCCU account, I have six monthes of 6% interest, or does the 6% interest die after July 2006?

[gavinmccallister]

Re: ING Direct vs Emigrant Direct Bank

I also posted their explanation of the offer, I hope this helps.

I believe on the 6% CD it is good for those 7 months after that it will renew at their regular rates, (Don't hold me to this) also on the money market account at 5% I believe it is only good for 6 months after that you will earn their regular rates, now it does say you will earn the special rates 6% & 5% on new money, so with that being the case deposit more money in 6 & 7 months time.

Earn 6.00% APY* with our Special 7-Month Certificate1 on $2,500.
This offer is limited to your first Certificate Account.
One account per member with new money only †.

Earn 5.00% APY* with our Special Money Market Account2
for 6 months up to $2,500.
This offer is limited to your first Money Market Account.
One account per member with new money only †.
($1,000 minimum to open)




*APY = Annual Percentage Yield assumes that dividends remain in the account until maturity.
†New money is money that is not already on deposit at CCCU. Funds on deposit can not be withdrawn and re-deposited in order to obtain the Certificate and Money Market Account. CCCU reserves the right to make the sole judgment as to whether or not the deposited funds are considered new money.
1. A $2,500 balance is required for the Special 7-Month Certificate which will earn 6.00% APY. A penalty will be imposed on early withdrawals from certificates.
2. Minimum deposit to open is $1,000. Special Money Market Account earns 5.00% APY for six months on balances between $1,000 to $2,500. Balances that fall below $1,000 or balances over $2,500 and after the six-month introductory period will earn the current variable Money Market Account APY. Unlimited withdrawals from the account, if made by mail or in person and payable directly to you. Withdrawals or transfers made by mail or in person and payable to a third party are limited to six per calendar month (3 can be by check). There is an $8 monthly fee on Money Market Accounts when the daily balance falls below $1,000 any time during the month.

Account rates and terms effective 02/22/06 and are subject to change without notice.

[mrvirgo]

Re: ING Direct vs Emigrant Direct Bank

Improved ED?
Has ED improved its service lately? I just opened an account and when telephoning for help the call was answered on the second ring. The service was excellent and my problems were quickly solved. I ask because I am seriously think about moving my savings from ING to ED but not if the site is still plagued by errors and mishaps. Thanks Bill