Okay, here is the deal.....with my income tax check, I am like the billions of others who are going to put it into a savings account. I bank with Chase, and their percentage rate is only .25%. Well, I found THIS BANK and the percentage rate is 4.50%. Problem I have is that I need to know if it a legit bank? Would you put your money there? It says its FDIC insured and has an FDIC number. Its an online bank and we all know how that online scam crap is. It explains how its able to have such a large rate. Read and let me know what ya'll think. Thanks in advance... This Link is the savings account page... Tim
ING is a legit bank. One of the largest in Western Europe in fact. My parents have some of their retirement money in ING subsidiaries.
ING is a pretty big international bank. I've seen them in Europe and India and I remember they used to run commercials in the US. Actually I think they're Dutch or Belgian if I'm not mistaken. But yes, it's a large multinational bank. You won't get screwed by them. EDIT: here's the wiki entry - http://en.wikipedia.org/wiki/ING_Group
HSBC is much better, trust me. They have better rate, their system is extremely complex which make it extraordinary secure. They're the fifth largest bank in the world, and FDIC insured, so your fund is 100 percent safe.
ING has been running adds on TV for a couple years now. You know, some person sitting on a park bench and another person walks up and says "What is that?" The person on the bench looks behind them and sees the sign that says "ING" and they start talking about ING. Then the person standing says, no not that ...THAT. and points to some weird random thing like a dancing bear or something. Anyway, don't know if ING is reputable but I know they've been advertising for years. So it isn't a fly-by-night.
A Dutch company for sure, you can tell from them calling their products "Orange Saving Account". And yes ING is a HUGE multinational financial institution. But Tim, I would suggest you to call their hotline before setting up your account. I would ask if the 4.5% interest rate is guaranteed, and if not, over how long a period; and how could you withdraw your money from your Orange Saving Account and if their is any charge/fees incurred if you want to withdraw money from the account.
Yup, or Citi. I have accounts with HSBC I think I get 5.05% right now if I remembered correctly, no minimum. You have to remember though you need your local bank to access your money by transferring the money to local banks first, this could take up to three or four days. ING is similiar, my sister uses them and she likes it.
ING is totally legit. They can give higher interest rates because savings accounts are all they do ( no brick and moretar, no checking )
Like others say ING is legit, but you can get better rates at other banks.. Check this site out.. http://www.bankrate.com/ For a basic savings account I'm at Emigrantdirect right now..
I've used both Emigrant Direct and ING. It's a guaranteed savings accout and there are no fees for withdrawal. The only drawback is that it can take 3-4 days to transfer money either way.
I have an ING account and like it. The rate is variable but I don't think mine has ever gone down, only up. And as was mentioned before to use the money you have to transfer it to another account to get it out, but there aren't any transfer fees. If you want to start a new account you can get $25 if a current customer refers you, let me know if you want me to send you a referral.
I have been using ING for some years now. I have always been pleased, and kept that same rate for as long as I have had the account. It looks like folks found some banks with better rates, so I might investigate those as well.
ING is ok, not a bad bank. HSBC is better, sign up an online savings account and manage it all online. More importantly, the interest is 5.05%, they always adjust their interest to be better than the competition so whenever Citigroup increases, HSBC does in kind.
Man, that rate seems pretty high for a regular ol' savings account. I have a savings account with my company credit union that I put all my gig money in. Not sure what the rate is, but I don't think it's higher than 4%. With HSBC, is it a pain to make deposits? How do you do it online?
Several of immediate co-workers have EmigrantDirect savings accounts with 5.05% APR as well and they've been really happy with the service. https://www.emigrantdirect.com/EmigrantDirectWeb/index.jsp You can get more comparative info here though: http://www.bankrate.com
I'll second the HSBC comments. I opened an account about 6 months ago and I have been nothing but pleased and get 5.05% APY. www.hsbcdirect.com