ING Interest down to 1%

[Disney_Freak56]

I've been with ING for nearly 10 years. I'm staying with ING -

it works for me. it's easy, convenient and I have subaccounts with them. And my local credit union pays way less in interest even at 1 percent.

I've got monthly deposits going into a subaccount for my DD's WDW FairyTale wedding next June and I'm happy with ING. Now if they drop below 1 percent, then I may research other options, but since most of the money in the accounts is short-term -- wedding expenses, taxes, expenses for rental house, etc., then I'm staying. Of course, YMMV.

 

[dex08]

Capital One is 1.25% for over $1,000. You also receive a 10% quarterly bonus on your interest if your balance is over $10,000 or if you have a cc w/ them.

Checking is 1.01%, any balance.

No fees, no minimum balance.

http://www.capitalone.com/directbanking/

They received a good review in some CNN report I read. Trying to find it again, if I do I'll post.

They also reimburse atm fees:
For Capital One Interest Online Checking accounts, fees assessed at any ATM within the United States and at some ATMs located outside the United States will be reimbursed within 5 business days, up to $10 per statement period. Once this limit has been reached, all usual and customary fees apply..

Did you know that you can get 1.30% on Savings with Capital One plus an extra bonus if you deposit at least $5000 if you are a Costco member? Executive Members get $60 bonus and Gold Star Members get $20 bonus.

This link was off of the Costco.com website:
http://www.capitalone.com/directban...E1113NQINTMKTGCF&number=EUPItulQbOeuXPJ9d_HoA

 

[MissAndrea]

Have you checked in with your local bank/credit union? We earn 2.67% on our checking account. We have to use our debit card 12x/month and have one direct deposit in, but that's not a big deal. They only give interest on amounts up to 25k, but they also refund your ATM fees (so if say Chase charges me $2 to use their ATM, they refund that fee up to $30/month) so it's more than worthwhile for us. If you don't want to go into your savings you can have two checking accounts and link them together and the linked one will qualify your other one for the higher percentage rate (if that makes sense). To qualify for our credit union you have to live, work, or worship in the city of Wilmington, NC and I'm sure others have similar limitations, but it may be worth looking into.

I second this! 2 1/2 years ago we pulled out of ING when they started lowering their rates and went with a checking account that earned us 5% interest (which later went to 3%). We've since moved to another state and found one with 3.5%. It's a no fee checking acct, use debit card (signature) 12x, and make 1 automatic deposit of $500 or more each month. It's not a credit union either...just a regular old bank. At ING we had multiple accts for various things we were saving for. Now we just use an excel spreadsheet to keep track of it.

 

[cglaura]

Did you know that you can get 1.30% on Savings with Capital One plus an extra bonus if you deposit at least $5000 if you are a Costco member? Executive Members get $60 bonus and Gold Star Members get $20 bonus.

This link was off of the Costco.com website:
http://www.capitalone.com/directban...E1113NQINTMKTGCF&number=EUPItulQbOeuXPJ9d_HoA

No Costco around here We have Sam's and BJ's Wholesale. And they are over an hour away. I'm in mom&pop store land

The difference on 1.25 vs 1.30 is about $3 year per $5000 so I think it would only be beneficial if you were already a member & used the club....or had a very high balance that offset the Costco fee...which after the bonus would be either $40 or $30 depending on the type of account. I'm sure someone shopping there would probably make that up in grocery savings, so hopefully this can help out an existing member. But thank you for the tip!

 

[mjmartin01]

at our local bank interest is .005...thinking of opening an account with ING

 

[NeverlandClub23]

How do you have all the sub-accounts with one customer # I would love to do that. Everytime I deposit money I just make a notation in the memo box what it is for, vacation, new car.... I just went in my account under the help box and FAQ's and can not see where you can break your account down into sub-accounts.

You have to open other new accounts. It's free and no fees, just open a new savings account, name it, and start depositing. I have about 10. It'll list them all on the same page when you log on.

I've been with ING for about 9 years. I hardly have any money deposited there anymore as I get a good interest rate at my local credit union (5% on the first $500, 3% on $500-$2,500, and 1.something% on everything after) and my regular bank offers 1.2% on my regular savings account. The one thing that gets me is that ING said from the beginning that the reason they are able to offer such better rates than B&M banks is that they are almost exclusively online and don't have the overhead and operating expenses that other banks and credit unions do. They still have very few B&M but offer the same interest rate as a lot of banks . I'm not saying I still expect it to be the 4-5% of yesteryear but there's hardly a difference anymore.