1. I’ve been contemplating opening an ING savings account, and your testimonial has just about convinced me. Although I am seeing other ads for Ally (there’s even one at the bottom of this post!), I don’t know much about its track record.

    • Ally is a newer online account. I don’t have much experience with them but they do offer higher interest rates.

      I can tell you that ING Direct has awesome customer service! That should be something to consider when looking into accounts.

  2. I like my ing account too, my only problem is that it takes at least 2 days for me to access the account to transfer locally . Is it any quicker for you?

    • It is true that it takes a little time to transfer from ING to another bank’s checking. That can be great if you are looking to protect savings from impulse buying!

      If you want quick access to your ING savings you can open up an Electric Orange checking account. They give you an ATM card that has access to lots of locations. Then you can transfer your savings to checking and withdraw it through the ATM.

  3. Thanks for the info. I opened my ING savings account (through your link) and reconnected with my dormant ShareBuilder account in about 10 minutes total! This was just what I needed…and I only discovered your blog 3 days ago. Thanks again.

    • Awesome! Glad to hear it. I love that I can see my investment account at the same place as my savings. And transferring to Sharebuilder is easy and quick too and it goes right through!

  4. The only thing keeping me from going with ING is paper checks. No matter how many bills I pay online there’s always those few occasions where you need a paper check. I don’t want to keep two checking accounts just for that purpose.

    • I hear you. But if you check out ING’s Electric Orange, they will send a check out for you. You don’t need to buy checks anymore!

      • Understood but like I said, there are many instances where only a paper check will do. That is a deal breaker in my book.
        .-= Jude´s last blog ..Bre Pettis demonstrates cheap 3D printer =-.

  5. Even though I’ve used a ton of online savings accounts, I always come back to ING. It’s the easiest, most user-friendly account available, and even though the rates aren’t always the highest, the pros far outweigh any cons.
    .-= Jason Unger´s last blog ..Is It Time to Start Enforcing Antitrust Laws Again? =-.

  6. I have nothing but good things to say about the 2 ING accounts we have. The setup was easy and the automatic transfer options work great….making savings effortless.
    .-= Ken´s last blog ..Help Wanted: Organizing Our Finances =-.

  7. I adore my ING account! I’m just a youngin starting out (actually only just starting my first 9 to 5 job next week). I am very excited about being able to save a decent amount of money. ING makes it very easy to do this. Even while I was a uni student and working part time, I was able to make quite a bit in interest on the small amount of savings I had. Unfortunately though, here in Australia there don’t seem to be as many of the perks, no bonus for joining, no bonus for friend referral or anything like that. I still think it is great though!

    • Sounds like you are starting off much better than I did. It took a long time to get through my thick head the importance of savings.

  8. Good Low Rates says:

    I’ve been hearing more and more about the sub-accounts in conjunction with the automatic transfers. Sounds like exactly what I’ve been trying to do with multiple credit union accounts with little success. I’ll be giving ING a shot to get cash saved for xmas 2010.


  9. ING Direct used to be *the* big name Internet bank here in Europe (I believe they were from The Netherlands originally) but over the years they’ve dropped off the pace – and worse, their rates.

    Good to hear they’re still doing the business over there… hopefully they’ll come back to form here eventually, rather than cutting your rates, too!

    • I believe you are correct about them being from the Netherlands. As for rates, the Fed Funds rate has been hovering just above zero here so all savings account rates have lowered as a result. Still, ING’s rate is way ahead of my brick and mortar rate and always has been.

  10. Mike Lutter says:

    I recently opened up my ING account. I’ve been meaning to for a bit, finally got off my butt and did it after reading this and several other posts about the awesomeness of ING Direct.

    Guess where my tax refund is getting socked away?
    .-= Mike Lutter´s last blog ..Good Posts You Should Read =-.

  11. FinancialBondage says:

    I like ING. although their interest rates are terrible these days. Otherwise, they are excellent.

    • I think most banks have pretty low rates compared to a few years ago. Still, I have always found ING’s customer service to be top notch.

  12. I had my mother set up with ING for 2 years to get interest on her money. She has Alzheimer’s and I have a power of attorney for her. Since I set up the account and had all the passwords this was not a problem until we needed to file for Medicaid and I made the mistake of transferring the last funds back to her Regions Bank account and chose YES when asked if I wanted to close account. DO NOT EVER DO THIS is you want to ever get your data again. ING locks out your account and you can no longer get your transaction history or statements. It has taken me 5 phone calls, 2 secure emails and a fax just to get a letter for my Medicaid package that said the account was closed with a zero balance. It’s taken 2 more phone calls and 2 more faxes to finally get them to send to my mother her statements. They do not recognize a power of attorney. I have NEVER had this much difficulty with a financial institution to provide documents for which I am legally entitled.

    BE CAREFUL the current low interest rates are not worth the fact that you have to deal with them by phone and their onerous policies. All their correspondence to me basically said TS.

  13. Jude, ING Direct now allows you to get a paper checkbook from them.

  14. Mike Clemson says:

    My experience is that ING is the best of the discount banks. However, Asian banks are vastly superior when it comes to customer service. In addition, Asian banks have better capitalization ratios.

    I’m a little nervous about European banks due to the PIIGS crisis.

What Do You Think?