# Is ING Direct safe and reliable for online savings accounts? **URL:** \ **Category:** In My Humble Opinion\ **Created:** [December 31, 2006, 2:34pm UTC](https://boards.straightdope.com/t/is-ing-direct-safe-and-reliable-for-online-savings-accounts/386208 "2006-12-31T14:34:33Z")\ **Posts on this page:** 13\ **Page:** 2
**Author:** ![Rigamarole](https://avatars.discourse-cdn.com/v4/letter/r/77aa72/32.png) [@Rigamarole](https://boards.straightdope.com/u/Rigamarole)\ **Post date:** [January 1, 2007, 2:20am UTC](https://boards.straightdope.com/t/is-ing-direct-safe-and-reliable-for-online-savings-accounts/386208/21 "2007-01-01T02:20:29Z")
[QUOTE=scotandrsn] [Apple Bank for Savings](http://grandyielddirect.com) Grand Yield Direct: 5.25% (No check writing) [/QUOTE] Now _that’s_ enticing. If you click the link their site says it’s actually 5.27% now. Anyone have experience with this one? ---
**Author:** ![pbbth](https://avatars.discourse-cdn.com/v4/letter/p/f9ae1b/32.png) [@pbbth](https://boards.straightdope.com/u/pbbth)\ **Post date:** [January 1, 2007, 2:31am UTC](https://boards.straightdope.com/t/is-ing-direct-safe-and-reliable-for-online-savings-accounts/386208/22 "2007-01-01T02:31:25Z")
I love my ING account. I have it set up to draft a small amount of money from my checking every month so that 5 years from now when I am ready to own property I will (hopefully) have enough for a down payment. I can also refer anyone who wants an extra $25 if they put $250 in an account, so if you are interested feel free to send me an email. (Email is in my profile) ---
**Author:** ![SmackFu](https://avatars.discourse-cdn.com/v4/letter/s/53a042/32.png) [@SmackFu](https://boards.straightdope.com/u/SmackFu)\ **Post date:** [January 1, 2007, 2:48am UTC](https://boards.straightdope.com/t/is-ing-direct-safe-and-reliable-for-online-savings-accounts/386208/23 "2007-01-01T02:48:29Z")
I moved most of my money from Ing to HSBC because of the better rates, and because there are lots of HSBC ATM’s outside the US. Given that, HSBC was a huge pain-in-the-ass to set up an account. Had to mail them a bill to prove my identity, and had to authorize my checking account twice, once for the initial funding and once for future ones. I took about two weeks, all told. And then I had to do it all again just to set up a CD. ---
**Author:** ![Richard\_Pearse](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/richard_pearse/32/13144_2.png) [@Richard\_Pearse](https://boards.straightdope.com/u/Richard_Pearse)\ **Post date:** [January 1, 2007, 8:00am UTC](https://boards.straightdope.com/t/is-ing-direct-safe-and-reliable-for-online-savings-accounts/386208/24 "2007-01-01T08:00:28Z")
I have an ING account in Australia (two actually, I’m puting money away in one for my daughter.) The current interest rate is 6.00%. There are no fees, no minimum account balances, and no maximum withdrawals. A withdrawal takes one night provided it is submitted before late afternoon (4:00pm I think) on a business day. Another bank tried to entice me away from ING with an offer of a lower interest rate and a minimum account balance of $5000. I just laughed at them. ---
**Author:** ![KSO](https://avatars.discourse-cdn.com/v4/letter/k/f07891/32.png) [@KSO](https://boards.straightdope.com/u/KSO)\ **Post date:** [January 1, 2007, 2:56pm UTC](https://boards.straightdope.com/t/is-ing-direct-safe-and-reliable-for-online-savings-accounts/386208/25 "2007-01-01T14:56:50Z")
[QUOTE=Savannah] Where are you? I check the Canadian site and it’s 3.5%. [/QUOTE] I’m in the U.S.–sorry, I didn’t realize you were in Canada… ---
**Author:** ![Canadiangirl](https://avatars.discourse-cdn.com/v4/letter/c/dc4da7/32.png) [@Canadiangirl](https://boards.straightdope.com/u/Canadiangirl)\ **Post date:** [January 1, 2007, 6:29pm UTC](https://boards.straightdope.com/t/is-ing-direct-safe-and-reliable-for-online-savings-accounts/386208/26 "2007-01-01T18:29:58Z")
😉 I have had an ING account for years, never a problem. Great interest, no service charges, link the account with a domestic chequing, keep minimal funds in it and transfer when I need to. I have my payroll deposited in there as well, so I transfer exactly how much I need. I have various GIC’s in there as well. Interest is not as good as it was a few years ago but beats the heck out of domestic banks. Make sure a friend refers you before you open an account, you both make $13.00! Better than nothing! Feel free to let me know should you want me to be the referral! 😉 ---
**Author:** ![Zsofia](https://avatars.discourse-cdn.com/v4/letter/z/7bcc69/32.png) [@Zsofia](https://boards.straightdope.com/u/Zsofia)\ **Post date:** [January 2, 2007, 3:10pm UTC](https://boards.straightdope.com/t/is-ing-direct-safe-and-reliable-for-online-savings-accounts/386208/27 "2007-01-02T15:10:59Z")
I’ve been very happy with them, considering how I use the account. It automatically picks up an amount every month that allows me to pay my car taxes and insurance when the time comes, and that’s about all I use it for. I plan to also use it for “quick access savings” otherwise when I have a little more to spare, like car and house disaster fund. ---
**Author:** ![SmackFu](https://avatars.discourse-cdn.com/v4/letter/s/53a042/32.png) [@SmackFu](https://boards.straightdope.com/u/SmackFu)\ **Post date:** [January 2, 2007, 3:55pm UTC](https://boards.straightdope.com/t/is-ing-direct-safe-and-reliable-for-online-savings-accounts/386208/28 "2007-01-02T15:55:29Z")
Another nice thing about Ing is that it’s exceedingly easy to open new accounts for specific savings goals. ---
**Author:** ![friedo](https://avatars.discourse-cdn.com/v4/letter/f/8edcca/32.png) [@friedo](https://boards.straightdope.com/u/friedo)\ **Post date:** [January 2, 2007, 5:40pm UTC](https://boards.straightdope.com/t/is-ing-direct-safe-and-reliable-for-online-savings-accounts/386208/29 "2007-01-02T17:40:27Z")
I have Citibank’s e-savings account which offers 5%, no minimum. It’s pretty spiffy. However, you also need to have a Citibank checking account to apply. Fortunately, Citibank does not charge any fees for checking. I am a fan of the giant evil international banking behemoth. ---
**Author:** ![Freudian\_Slip\_1](https://avatars.discourse-cdn.com/v4/letter/f/f475e1/32.png) [@Freudian\_Slip\_1](https://boards.straightdope.com/u/Freudian_Slip_1)\ **Post date:** [January 2, 2007, 6:33pm UTC](https://boards.straightdope.com/t/is-ing-direct-safe-and-reliable-for-online-savings-accounts/386208/30 "2007-01-02T18:33:47Z")
We have an Orange savings account; our mortgage and HELOC is also through ING. We’ve been very pleased with them. When we closed on our house, the lawyers said they had never had a transaction where nothing was screwed up. ING has been very easy to work with. ---
**Author:** ![Troy\_McClure\_SF](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/troy_mcclure_sf/32/4150_2.png) [@Troy\_McClure\_SF](https://boards.straightdope.com/u/Troy_McClure_SF)\ **Post date:** [January 2, 2007, 6:57pm UTC](https://boards.straightdope.com/t/is-ing-direct-safe-and-reliable-for-online-savings-accounts/386208/31 "2007-01-02T18:57:04Z")
Anyone know anything about the Electric Orange Checking Account? I’ve loved my ING savings account, and I must say that checking with them is quite enticing. > [@ING](#): > > The expansion, which Kuhlmann termed “audacious,” comes as the bank plans to offer high-yield online checking accounts amid intensifying competition. ING DIRECT will make the checking accounts, dubbed “Electric Orange,” available nationally Feb. 1. It plans a limited introduction next month, making checking available to 400,000 of its most active customers – ones who make frequent deposits and withdrawals in their online savings accounts. Kuhlmann said he hopes that in Electric Orange’s first year, half a million customers will sign up. [https://home.ingdirect.com/about/about.asp?s=News#11262006](https://home.ingdirect.com/about/about.asp?s=News#11262006) ---
**Author:** ![vivalostwages](https://avatars.discourse-cdn.com/v4/letter/v/d07c76/32.png) [@vivalostwages](https://boards.straightdope.com/u/vivalostwages)\ **Post date:** [January 6, 2007, 12:34am UTC](https://boards.straightdope.com/t/is-ing-direct-safe-and-reliable-for-online-savings-accounts/386208/32 "2007-01-06T00:34:49Z")
Anyone familiar with GE Money? I just received their account offer, 5.05% interest. ---
**Author:** ![Cisco](https://avatars.discourse-cdn.com/v4/letter/c/ccd318/32.png) [@Cisco](https://boards.straightdope.com/u/Cisco)\ **Post date:** [January 6, 2007, 1:19am UTC](https://boards.straightdope.com/t/is-ing-direct-safe-and-reliable-for-online-savings-accounts/386208/33 "2007-01-06T01:19:17Z")
My wife and I have had an Orange Savings account for not quite a year and a half and we love it. We’ve made lots of money with the interest and we’ve only made 2 withdrawals (once to buy a house and once to go on vacation.) It’s the only savings account I’ve ever had that paid more than a pack of gum’s worth of interest, and they give you $25 to start. [Previous page](https://boards.straightdope.com/t/is-ing-direct-safe-and-reliable-for-online-savings-accounts/386208.md?page=1)