I have had my ING Direct Online Savings account for about 6 months now and have been very impressed. I have been telling many friends and family about it because it is basically 4.5% interest with no minimums and it only took me about 5 minutes to sign up. It beats the crap out of any of my local low interest or no interest checking accounts.
Time to crack that piggy bank and start earning some interest
Things I Like About ING Direct Online Savings
First of all ING consistently offers the best or one of the best rates out there period. There is no comparison to any of my local banks interest rates. There rate is 4.5% right now but is always pushing forward to becoming the highest or one of the highest interest rates in the country.
There are no minimums which is pretty much unheard of. That allows just about anyone to open up an account. There is also no need to change banks with this online savings account, it is suppose to be supplementary to your banking. You keep all the bank account you have.
You also get 24/7 online access to your account and it takes about 5 minutes to open an account. No more going down to the bank physically to open up an account. Who wants to do that anyway (Sorry I’m a lazy guy). I have not looked it up yet, but Orange ING Mortgage also offers discounted mortgages and one of the best CD rates, check it out if your in the market for those services.
How Online Savings Works
An ING Savings account is suppose to be a supplementary bank account. You don’t want to close any of your regular accounts. You might be wondering how do I deposit and access my money? Well, it really is simple you do it by transferring your money online from your other bank accounts back and forth.
I thought I would have to mail a check but that is not necessary. All you have to do is deposit a check like you would normally do at your local bank then once it clears you just log into your ING savings account and transfer any amount that you would like to deposit in your ING Savings account. When you want to deposit money from your ING savings to your local checking you would simply log into your ING savings account and transfer how much you want to your checking.
It does take a day or two for the transfer to complete but it really is very simple.
Check it out, there really is no risk for you even if you only put in a couple of bucks. While I don’t recommend having too much money in savings, having enought for a rainy day is smart and so it leaving it that money safely in a high interest account.
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