ING Account??

[Leshaface]

I'm really wanting to open an ING 'Orange Savings Account' but was wondering if ING is legit??

I have seen it mentioned a few times here on the boards and just wanted to get some more information about it..

I'm a little worried about linking up my checking account from Chase to ING, but just want to be assured that ING is trustworthy.

Also, ATM's?? If I wanted to withdrawal money, where would I do this at??

I'm wanting to start this savings account as a vacation fund, seeing as the interest rate is 1.10% vs my 0% from hoarding it at home!

Any help or input would be greatly appreciated!!!

 

[MyDizneyBoyz]

We have an ING Orange savings account linked to our joint checking account at our credit union. I have it set to automatically transfer a certain amount every payday and it gets relatively decent interest.

For the savings accounts, I don't think they offer ATM cards. To get the money back, I transfer it back into my checking account. Keep in mind that it can take up to 10 days (last time I transferred it took 5 business days to finalize) to have the transfer fully completed. I personally like this as it keeps the money safe from impulse spending but it definitely means you need to plan accordingly.

ING is very reputable - or as reputable as any other bank in this economy!

 

[nickandlarisa]

I second that! I have an automatic savings plan set up with ING as well. Its great because I never even "see" the money that comes into my checking account through direct deposit one day, and out to my auto savings account the next day! Its the easiest way to save for me! I also keep "upping" the amount I have taken out little by little. Once you get used to not having that money, its easier and easier to pull it a little bit tighter. I'm always surprised how quickly it all adds up! I would definitely recommend ING. Also, not sure of their current promotions, but they did have a referral program if someone signed up for ING and gave your info, you got a bonus, maybe $20 or $50.

 

[JB2K]

ING is a very legit global financial services operation -- while their global HQ is in Amsterdam (Netherlands), they have been doing business in the United States for over 11 years (their USA HQ is in Wilmington, Delaware).

They offer high rates (and other consumer-friendly packages) because they don't have the expense/overhead in operating a huge branch network.

As for ATM withdrawals, I believe they are part of the Allpoint network, which gives customers access to over 37,000 free ATMs all over the country. Some are in well-known places such as Target, Costco, and Simon-owned shopping malls.

And like all banks in the USA, all deposits at ING are fully-insured by the FDIC.

 

[The 4 "Quay"balleros]

I've had the savings account for about 5 years and have never had any issues with it. I started the checking account a few months ago. This came with a debit card. I've earned more interest in this checking account than I have in my TD Bank savings accounts the last few years!(I keep a few K in easy access just in case)

 

[RachaelA]

It takes longer to transfer the money to ING (and have it available there) then to transfer it back to your regular bank. I transferred money from ING to our Fifth Third account yesterday and it'll be available tomorrow.

We love our ING accounts. I have a bunch of subaccounts for different things like taxes/insurance, vacation, car, etc.

 

[bluesaturn]

ING is legit, as someone mentioned they are FDIC insured. I've had a savings account with them since 2008, and I like it very much. The interest rate dropped a lot in 2009 (as expected), but it's been relatively stable for quite awhile and it's higher than my regular bank's savings account.

You link any account at your regular bank to the ING account, then you can transfer money between accounts. The ING savings doesn't offer an ATM card. However they have an ING checking which has an ATM card, and if you look at their site you can look up ATMs closest to where you live. They always send me offers like $50 if you open an ING checking, since I have a savings with them.

 

[Sagginit]

i have an ing account and its super easy to use. it is legit. i have no reason to take money out of the account thru an atm. on the several occasions i wanted to withdraw savings i simply put it back into my checking account and used it from there. as said it may take a few days to process transactions so this prevents those impulse transfers.

 

[cvjw]

I've had 3 orange savings accounts with ING for years - they are very legit. They also just took over the management of DH's retirement savings account that he has thru his job. The interest rate is nothing to brag about right now - when I opened our accounts, they were paying over 4% interest!

 

[vicki_c]

Totally legit - an ING Orange savings account is where I keep our Disney fund. I've been tempted numerous times to open their Electric Orange checking account since we write so few checks (only like 2-3 month) but I just am not comfortable giving up my checkbook yet - everything we write checks for are either to the school or to a school parent for something or other, and usually last minute.

 

[Leshaface]

Wow thanks for all the replys!!

I'm sooo glad to hear you folks have had great experiences with ING!

I'm definitely going to open one now!

One more question: Do they charge for any additional accounts? If I open one orange savings, can I open an additional one with no charge/fee??

 

[Swimalie]

I've had an ING savings account for about 12 years or more now. They are very legitimate and will be a good bank for you. Right now we have 2 savings accounts with them. One is set up as an automatic transfer each month and the other just sits there and earns interest. Until we moved, we also had our mortgage with them and were very pleased with it as well.

 

[mommy2allyandaveri]

We have an ING Orange savings account linked to our joint checking account at our credit union. I have it set to automatically transfer a certain amount every payday and it gets relatively decent interest.

For the savings accounts, I don't think they offer ATM cards. To get the money back, I transfer it back into my checking account. Keep in mind that it can take up to 10 days (last time I transferred it took 5 business days to finalize) to have the transfer fully completed. I personally like this as it keeps the money safe from impulse spending but it definitely means you need to plan accordingly.

ING is very reputable - or as reputable as any other bank in this economy!

Ditto this. We have had our savings accounts with them for nearly 10 years.

We have multiple accounts in order to save for different reasons:

Savings
x-mas/vacation
child 1 savings
child 2 savings
pet expenses
Impounds/car expenses
braces

 

[ajh88]

We *LOVE* our ING accounts. I haven't written a paper check in so long now that I am thinking of closing our other account altogether (but I haven't done it quite yet). I've had a savings account with them for nearly 6 years and I opened an Electric Orange checking about 6 months ago.

They also ran a promo over Black Friday that if you opened a kids savings account, they gave you a $25 bonus - so DD now has an account with them that I opened with a $1 deposit and got $25 deposited 30 days later.

They are also (from my experience) truly "fee-free" for their checking. Long story, but I ran a little short due to some accounting incompetency on my part and while they did return a couple of charges, they didn't charge me anything.

As a PP said, you can find ATMs on their website - I just used one at Target the other day. With the checking, they also have free bill pay and person to person payments - I can't remember if you get that with savings only or not.

I've been really happy with them so far!

 

[NiftyJ88]

Yes, very legit. I've had accounts through them for probably 5 years or so. I like that I can keep several different accounts through the same account number. So I'm able to keep vacation money separate from the emergency fund and keep that separate from dd's savings.

 

[jlm]

I've had one for years...even with auto deposit...LOVE IT!

Jen

 

[Ava]

Wow thanks for all the replys!!

I'm sooo glad to hear you folks have had great experiences with ING!

I'm definitely going to open one now!

One more question: Do they charge for any additional accounts? If I open one orange savings, can I open an additional one with no charge/fee??

They don't charge any fees for additional accounts. The way it works is, you are assigned a Customer Number and can open as many accounts under that Customer Number as you want. For example, I have my main savings account, a "Vacation" account, a "Christmas" account, a Kid's Savings account for DD and an ING Checking account all set up under my Customer Number. When I log into ING, I see all of my accounts at once and can transfer money between them instantly. The only transfer that takes a few days to clear is when you transfer money between your ING account and an account at another bank. Mine usually takes 3 or 4 days to clear when I transfer between my ING and TD Bank accounts.

I've been with ING since 2005 and really like it. It makes it easy to save, and to divide up your savings into different accounts. It also earns higher interest than accounts at most traditional banks.

 

[Leshaface]

They don't charge any fees for additional accounts. The way it works is, you are assigned a Customer Number and can open as many accounts under that Customer Number as you want. For example, I have my main savings account, a "Vacation" account, a "Christmas" account, a Kid's Savings account for DD and an ING Checking account all set up under my Customer Number. When I log into ING, I see all of my accounts at once and can transfer money between them instantly. The only transfer that takes a few days to clear is when you transfer money between your ING account and an account at another bank. Mine usually takes 3 or 4 days to clear when I transfer between my ING and TD Bank accounts.

I've been with ING since 2005 and really like it. It makes it easy to save, and to divide up your savings into different accounts. It also earns higher interest than accounts at most traditional banks.

Great! They make it so easy and simple!! And love that you can have multiple accounts for different purposes!

Signing up today!!

Thanks everyone!!

 

[rosanne91]

ING is legit. My husband is emplyed by the company. We moved all of our money into ING. I never regretted it