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ING Direct
Rating Details »
7 reviews for ING Direct
Let me start by saying ING Direct is Godsend-- read on to find out why.
After banking with BofA for about 8 years and hearing other's horror stories at other banks I thought, there has to be something better than this! I tried thinking out of the box and Googled alternative banking.
Side note: BofA treated me so bad and never gave me a break when I had trouble, one instance that comes to mind is when a recurring payment that was supposed to be canceled months prior began deducting money again through "some glitch in the system" and overdrew my account, long story short, I talked to three people at BofA, explained why I shouldn't have overdraft fees and they wanted to hear nothing of it (mind you it was a $150 recurring payment that caused the mess so a $3 cup of coffee ended up costing me $38 with the $35 overdraft fee)-- they said it was my own fault in so many words-- dang, I really went off on a tangent...back to my review of ING...
My finances are so digitized and I've been online since AOL 2.5 (!), so it made sense for me to use a Bank that was all digital; you don't have to wait in line, you don't get overdraft fees, and I've never had to call for customer support, everything was handled very promptly via secure email messaging.
I've been using online bill pay, but had to visit each site individually for all my accounts to schedule a payment; I only recently consolidated all my monthly payments via the BillPay service on ING direct (Electric Orange)-- it's amazing so far, always on time, and really one-stop payment portal.
I send money directly to my mom each month to help her with her mortgage and she just picks it up via a link in an email; she's so pleased with the service because it is free and easy and fast! She doesn't have to wait for a check to clear or deal with large amounts of cash that I used to give her-- she says, "now if only other people would send me money the same way, my problems would be solved" LOL.
No more overdraft fees is an amazing feature-- you get a line of credit to cover any accidental overdrafts. I probably went over twice so far, but by less than $20...those times cost me on the average ten cents...vs $70+ that would have come from two (or more) overdraft fees from a traditional bank.
The website is always fast and almost always available, easy to navigate and find what you need.
My paycheck is setup via EFT and is 100% available on pay day.
As for paper check deposits, I just mail them in and they are available to me within 1-2 business days, so including transit time and processing time, it is about equal, if not quicker, to what you get when traditional banks put a hold on your check for 7-10 business days.
Integration with ShareBuilder is seamless and it's even made it easier for me to invest... $25 a month has added up to a nice amount, I put more in when I can...It just feels good to see your little bit of money grow and grow.
As you can tell, I can't say enough good things about ING Direct, OrangeSavings, Electric Orange, and ShareBuilder. Sign up and enjoy the online, paperless, stress-free alternative to traditional banking.
They come highly recommended! You even get some extra dough for referring your friends and family members.
I've been a member with ING for quite sometime now and do enjoy the way this bank helps me save money. The savings plan connects with an bank account you currently have and allows you to transfer money to it as needed. You can even schedule a a time when it withdraws money from your account as well.
What I normally do is schedule transfers to occur bi-weekly, the same time my wife gets paychecks from work. That way we just never see the money we put away and don't get tempted to spend it. Next thing you know, when you check your ING account, you have a nice chunk of money saved up. What's more it gains WAY better interest than your normal bank account.
The only thing that bothered me about this was that the funds were not accessible quickly. In order to retrieve your money, it would take some time. So a few days to transfer to your ING online savings and then a few more to transfer back to your bank account.
There's a nice remedy for this though since they implemented what they call an Electric Orange account. It's basically their version of an online checking account! I've been having problems with my bank charging numerous fees for stupid things so I decided to give this Electric Orange a shot. Wow, I am loving it so far.
They give you a debit card to use like any bank and it will access the funds from that EO account. So yes, you can pay at any place that accepts Mastercard. You can pay bills online and can send checks to whomever you wish as well. Also, you have access to a large number of ATMs that use the Allpoint network and can withdraw with no fees. I know these ATMs may not be as noticeable as the major banks (Wamu, Wells Fargo, BofA, etc.) but there's 37,000+ of them worldwide. You can find them in well known places, like Target, 7 Eleven, CVS. But really, people nowadays just use their card for purchases as opposed to withdrawing cash often.
A big plus is that the EO account is in joint with your ING savings. You can specify an overdraft spending limit so if you happen to use more than you have in your EO account, ING will cover the remainder. They won't charge you $30-$40 in overdraft fees either. Instead, you pay daily interest on the amount that you borrowed to cover the overdraft. If you transfer the funds immediately from one of your connected savings, your fees will be minimal, if any. I'm really happy for this service because it's sometimes difficult to communicate with my wife on what we spend. It's good to know we have a bit more control to help prevent overdrafts from happening.
Overall, I highly recommend giving ING Direct a try. It may just save you not only money, but from the headache fees the other banks are charging.
Dear ING,
I have always had a loving relationship with you. You've always given me a savings rate above and beyond what other banks have offered. You've been my mortgage lender of choice with no closing costs, low rates and less paperwork than any other bank. This past weekend, my love for you grew even stronger.
It was Saturday morning, my phone rings and I answer not knowing the number that's calling me. A pleasant voice is on the other end oft he line and say she's from ING. She reminds me of a contest I entered a couple months ago. I had forgotten all about it, but instantly remembered writing the short paragraph about why I deserved a months mortgage payment. Apparently, you liked what I had to say, and rewarded me with no payment in January. What other bank does that?
Yours forever, I promise to never stray.
Sincerely,
Carrie M
This is such a contradiction coming from a self professed shop-a-holic. But I felt I had to give this online bank some luv considering the return in interest is so sick!
Current interest rates 4% savings, 4% checking (what checking account has this good of an interest rate!) and 5.25% for 9 month CDs. So I'm earning each month a total of 8% interest! Scooby Effing Doo! OK OK I like where this is going. I can actually make a little when I buy a lot.
I've never been happier with a bank! Great customer service, awesome location - your home computer, great interest rates and bill paying. Oh yeah just write the paperless check out on your computer and they send it for free - even your rent check no kidding. An actual check will be at your landlords house withint 5 days after you write the check. ING does not charge for the stamp. What The! Very cool. No more sitting at line at the post office for 50 minutes just to get a book of stamps.
What else, hmmm.....direct deposit your paycheck and it's available the same day, you get a visa or matercard debit card and check this - no ATM Fees from them or the bank machines in their network. I was a little suspicious but I haven't been charged yet. I also checked the list of ATM's and in Malden and Boston alone I've found ATM's located near everything i hang out. The only ones you will get charged are from another bank - but go to the one at your favorite bar and no more $2.50 charges from that machine, or ING. Nice deal!
The post wouldn't allow me to put an 800 # - but for new customers you can call 800-ING-DIRECT to talk to a person, or check the website http://www.ingdirect.com.
I've been with ING for a few years now just with a savings account and I was very pleasantly surprised to see the interst ca-chinging each month. Another pleasant surprise the interest has always gone up, never down. Their Orange Checking is new, but it's been super conveinient, super rewarding with the phenom interest rates and super problem free. Highly recommended in my book. :)
I have to join in the other Yelpers' praises of ING Direct. When I had finally managed to squirrel away my first decent amount of moolah, I began to ask around among friends and colleagues I trusted. "Where to save my money and get a decent amount of interest, something trustworthy, basically something GOOD?" The answer always seemed to be the same: ING Direct it was!
Since they're an online bank, or at least it's the online branch of ING bank (hence ING Direct), they can save on their costs and pass those benefits onto you. In other words, no fees. I love this fact, since the interest rates are really decent too. With ING Direct, you can actually watch your savings grow, rather than watch your money just sit in a somewhat deteriorating lump like at some other banks, where the interest rates are too low and the fees too high.
I love the fact that their website is so user friendly. And speaking of friendliness, the customer service is excellent. I did panick a little at first, thinking "well, I'm in Boston and the nearest ING Direct Cafe is in NYC.. can I really do this all online, and is it really safe? It all sounds too good to be true!" Well, I listened to the scores of people singing its benefits, trusted it, and went with it. So far, so good. In fact, so far, great!
They can send checks for free, you can do bill pay, automatic transfers/savings, etc. You can gain interest no matter what it is you open, be it a CD, Savings or Checking account. They don't have a minimum deposit amount/rate for these accounts, which is fantastic. If you get the checking account (Electric Orange), you can get a Mastercard which will enable you the use of numerous ATMs all around the city (in fact, I believe they claimed international ATM access).
They do offer a mandatory overdraft line of credit with the checking account, and although you get to choose how much you want this line to extend to, it requires a credit check. This is fine if you have good credit history, but a word of warning to those who have never had a credit card - you actually need to have credit history for this in the first place, so check up on that! In any case, you dont need to open their checking account to open another one of their accounts, and whether you want a CD/Savings/Checking, just a couple or all three, you can choose what you need.
The only downside is that you have to link this to an existing checking account at another bank, such as a BofA account, as your linked account. Being an online bank, they require this. I wasn't planning to close up my other accounts anyway, but you can't have your money subsist solely off your ING Direct accounts. Plus, transfers between your ING Direct accounts and your linked account can take a while, up to 5 business days which can be a hassle at times.
Still, despite those small bumps in the road, this is by far the most pleasant bank I've ever dealt with so far. If you want to save your money with great service and a user-friendly environment, and don't mind that it's online-based, then this is the choice for you. At least, it was for me and I certainly don't regret it.
I just got an ING account with my boyfriend so that we can pay bills, rent, etc. for our new apartment, and, I have to say, I really like it. It's got a really high interest rate for a checking account (4%), and you can do everything online, from signing up, to depositing money from your real bank account, to sending checks. It's super easy, and really helpful to have. I especially like the automatic savings option, which transfers money from your regular bank account to your ING account every month so you can put money aside automatically.
The downside and reason I'm not giving it 5 stars: you have to wait 2 business days to withdraw money you deposit. So if you deposit money late on a Thursday afternoon, you can't use your money until Tuesday. Bummer.
Overall, though, this is a great option for people who have a high checking balance and want to earn a good amount of interest on it, people who want an easy joint checking account, and people who love the convenience of banking online. I really like ING, but I'm still keeping my accounts with my credit union.
Best way to save money folks! Just open an ING Orange Acct and watch your money grow. Do a monthly deposit to this account to save up for your next buy.
This is how I got some $$ for my furniture! Try it and look for their $20 to $100 coupon to open an account.