ING Rate Increase

[macfamily]

Signed up myself, today. My husband was reluctant to make any changes to our current system, but I told him that no way was I sticking with the piddling interest we're getting from our credit union!! Sooo, I signed up in just my name, hah! At least I can send him a referral once my account is approved

 

[LorieR]

That's great news about the rate increase! Hope this is a sign of things to come with other banks.

On another thread I heard about Emigrant Bank's American Dream Savings Account which gives 3.00% APR, no minimum balance, linked to an existing checking account, interest compounded daily (ING compounds monthly), and interest added monthly (like ING). I signed up the other day. Like ING they deposit two amounts in your account which you have to verify with Emigrant (they then withdraw the amounts!). I am now waiting for my account number, etc., to come via snail mail (they say for added security) and will transfer funds into it and some of what I have in ING too! It is still a great idea to sign up with ING for their bonus and their referral bonuses but this seems to be a good deal. (They are FDIC insured also.) Every little bit extra makes our next trip a bit closer!!

Lorie

 

[bonkos6]

What is an ING account?

 

[Tiggerlover91]

What is an ING account?

There is a sticky about it at the top of the budget board, but I will give you my condensed version of it. ING is an online bank which you link to your checking account. Example, for me, I bank with ING by linking my account with them to my account at Amsouth Bank here in FL. I received a $25 opening bonus from signing on with a member here on the DIS and they then received a $10 referral. There is no minimum balance you have to keep, nor is their any type of credit check. I've been with ING since July of last year and the interest rate has gone from 2.1% I believe it was to 2.6% currently! I had $125 in referrals and from my sign on bonus in my first account and I thought that was awesome. When you add the $10 I put in, that was $135 of easy money. I finally had to use $100 of it, but I've got over $400 in that account of money I deposited and with the interest rate, it's nice to watch it grow.

If you want to sign up, you need to PM someone here on the DIS with your first and last name and email so we can send the referral.

I hope this helps.

Blessings,

Denise

 

[Moose for Sprite]

Thanks for all the info!
Earned a nice amount simply by opening accounts for the family.
Tip - if you have Quicken you maybe able to get a $50 bonus.

 

[Weluvdisny]

I just joined and love it!

I'm having a hard time too getting my family and friends to join. They are afraid of the internet and sending personal info over it.

 

[cobbler]

I too tried to refer friends because it is so great. One told me she won't do it because it has to be a scam. I asked why and here were her reasons.

One-Why don't they want you to change banks? You can keep your own bank and not switch to them sounds fishy to her.

2 - you link your account to them which means they could clean you out because now they have that info

3- How can they afford to give you money for opening an account and afford to give such high interest rates, where are they making their money then.

4- Its much easier to up and leave a website than it is a physical location.

So she refuses to do it. Now while her concerns are legit I don't know about her question number one. But I did tell her they do make money because they do give out loans so they are making money that way.

2- They are listed as a financial institution on my Microsoft Money and I don't think they would be advertising in places like the Wall Street Journal or Tax cut if they were in internet scam

3 - they do have some "branches" in the form of a cafe or something like that.

4- I think the Feds would be all over them for advertising that they are FDIC insured and giving and FDIC number

5- I actually had a friend that worked at corporate (didn't know this until recently) before her present job. I guess she left only because her current job offered her 7/hr more than she was making at ING.

But she doesn't want to believe it.

Oh well.

Another question if anyone knows -
I refered my son and set up a joint account with him, yet they haven't taken the money out to put into his account. I did this I think 2 days after I opened my own. Am I under this 10 day waiting period for more deposits or is it just taking a few extra business days??

Also how long did most of you wait for your 2 small deposits? For my account it was like the next day, for my hubbies I am still waiting (granted I just opened on Thurs) but just curious because his didn't happen as quickly as mine.