online savings accts?

[mtemm]

I've never had an acct like this before. does anybody have one? any pros or cons to them? the two I am looking at are these:

http://www.us.hsbc.com/1/2/3/personal/savings/online-savings?code=mdtsp


http://www.ingdirect.com/osa_work/


I think I'm hesitating partly because they seem to be a bit too good to be true. I feel like I'm missing something here.

 

[Christine]

I know that Suze Orman always recommends one called emigrant.com or something like that. They supposedly are very safe and have one of the highest interest rates.

 

[starwood]

I have both of these. HSBC gives 5.05 but is having a promotion on any new money from now until April 30th of 6.00. ING gives 4.50. It takes a few days to transfer money back and forth so that is something to consider. Don't put every penny you have in there because if you need it for an emergency it would probably take about 3 days to get it.

I've had ING for several years now and never had a problem with them.

 

[jennyl772003]

We have an Orange account (ING). It's legit. The interest is much better then a traditional savings account.

When we needed to withdraw some money, it took about 2 days for it to transfer to our checking account.

 

[Disney-Kim]

We just started using ING a couple months ago. we have money directly taken out of our reg checking and deposited there. No problems so far and I have read only good things about them on other credit boards.

 

[mtemm]

thanks! so is that how it works, it just transfers back and forth to your regular bank when you want it? but could take a few days?

 

[tae1218]

We have had an ING account since 2004. I really like it! The interest rate is so much higher than our bank's rate. It is so easy to transfer money in and out. It just takes a 2 or 3 days for the transfer to be complete.

 

[liamsaunt]

thanks! so is that how it works, it just transfers back and forth to your regular bank when you want it? but could take a few days?

Right. We have ING.

 

[Pooh_Friend#1]

I signed up for ING as well. I was debating between ING and HSBC but when I found out that ING has a referral program I signed up with them. With ING if you get a referral from someone and you deposit an initial $250, you get $25 and the person that referred you gets $10.

 

[nowellsl]

I have both. I really love ING but opened HSBC a while back when their interest rates got to 5.05%. I have my ING account linked to my HSBC account and when they offered 6% on new money I tranferred all but a minimal amount to HSBC. HSBC also offers a ATM card which ING doesn't. They are both insured.

 

[hiwaygal]

We have ING and Emigrant Direct.

ING historically has the lowest rate (but still better than regular banks) of the three.

I saw the add for HSBC...but for now, I'll stick with the two I have.

 

[summerrluvv]

I've had ING for six years. It's great. They now offer Electric Orange ING Checking accounts with debit cards as well. It makes it a little easier to access your money in your ING savings instead of waiting for it to transfer. You can always get direct deposit into the ING checking and then transfer to the savings rather than having to use your regular brick and mortar bank and waiting the few days for it to transfer.

 

[gradtchr]

We have ING and www.emigrantdirect.com and are very happy with both.

 

[LukenDC]

I have an account through ING and have not had any problems. They are FDIC insured, which is the important thing.

 

[azgal81]

I have both ING and eimgrant direct with the majority of my money in emigrant and have for a few years. No problems at all! Open an online savings account think of all the extra interest you are missing! ING is kinda low in interest and not really keeping up with the others though so I would open up one of the higher interest rate ones. As long as they are FDIC insured your money will be okay!

 

[momrek06]

I've never had an acct like this before. does anybody have one? any pros or cons to them? the two I am looking at are these:

http://www.us.hsbc.com/1/2/3/personal/savings/online-savings?code=mdtsp


http://www.ingdirect.com/osa_work/


I think I'm hesitating partly because they seem to be a bit too good to be true. I feel like I'm missing something here.

OMG, mtemm: I just posted this thread. Did not see yours at all!! And our wording is so similiar....!! Well I will watch your thread as well as watch mine. I am hesitatant as well as it does seem too good to be true. And ING is have a promo now $25.00 deposited into your account if your open one with them before March 31, 2007!!!!

 

[deekaypee]

I have an Emigrant account, and am very happy with it.

 

[NewJersey]

I just opened one last night. I am trying to save for to buy my first home so I need to set the money aside so I won't touch it. I'll need $30,000 to afford a down payment on anything in new jersey.

Oops..forgot to mention I opened ING!

 

[WendyZ]

I've been thinking about this as well. I know I could make better interest online, but I'm a chicken. Guess I'm just used to knowing my bank is uptown. With online there is no "building" to go to if you have a problem. Guess I need to do more research! One question....when you decided to open an account, did you keep the one you had at your local bank or close that out? My kids have savings accts as well...does anyone do that for their children? Right know everything is at out local bank....


Thanks for the great posts!!!!

 

[gradtchr]

I have my checking account at a local bank and that is what I use to transfer the money around.

Our children will have online accounts as well, one of which has already been started.