BS: ING Direct banking? Had experience?

Subject: BS: ING Direct banking? Had experience?
From: Little Hawk
Date: 06 Feb 08 - 05:58 PM

I'm starting this thread to ask if anyone's tried out ING Direct banking? The reason I ask is, they are offering me a far better rate of interest on my savings than what I can get at any local bank...plus a $25 bonus deposit to open an account with them.

So what's the deal? Are they reliable, and why are they able to offer such a better rate of interest?

Subject: RE: BS: ING Direct banking? Had experience?
From: Mrrzy
Date: 06 Feb 08 - 06:17 PM

I've only seen their ads - but watch out if they're French, Little Hawk!

Subject: RE: BS: ING Direct banking? Had experience?
From: Little Hawk
Date: 06 Feb 08 - 06:21 PM

Oh? And why would that be a problem, Mrzzy?

Subject: RE: BS: ING Direct banking? Had experience?
From: John Routledge
Date: 06 Feb 08 - 08:16 PM

Excellent here in UK. Great support if necessary.

Subject: RE: BS: ING Direct banking? Had experience?
From: Gorgeous Gary
Date: 06 Feb 08 - 09:06 PM

I have several CD's with ING, one of 'em I've had the $$ invested for about five years by now (rolled the CD over a couple of times). I like them. Very easy to set up accounts and keep track of things.

They're based in Delaware (Wilmington, City of Banks), but do everything on-line. They can therefore afford to pay out more since they don't have the overhead of a few hundred brick-and-mortar branches.

-- Gary

Subject: RE: BS: ING Direct banking? Had experience?
From: Stilly River Sage
Date: 06 Feb 08 - 09:54 PM

The French banking fiasco a couple of weeks ago, Leedle Hack. Is your short term memory going?

Subject: RE: BS: ING Direct banking? Had experience?
From: Beer
Date: 06 Feb 08 - 10:17 PM

If that is what Mrrzy means Srs than great. But an explaination should be made by Mrrzy and not you SRS. With all due respect to you.
Beer (adrien)

Subject: RE: BS: ING Direct banking? Had experience?
From: number 6
Date: 06 Feb 08 - 10:23 PM

The ING Group (Internationale Nederlanden Groep) is sourced out of Amsterdam. Though I have no business with them, a co-worker of mine has migrated all of his financial dealings over to them about 4 years ago. He has had no issues with them whatsoever.

biLL

Subject: RE: BS: ING Direct banking? Had experience?
From: Amos
Date: 06 Feb 08 - 10:32 PM

We sis all our banking through them for a couple of years and had no problems.

We shifted to EMigrant because they offered lilghtly better terms.


A

Subject: RE: BS: ING Direct banking? Had experience?
From: Stilly River Sage
Date: 06 Feb 08 - 10:50 PM

Beer (adrien)

Get A Life--please! This is an open discussion and responses may come from where ever.

SRS

Subject: RE: BS: ING Direct banking? Had experience?
From: Little Hawk
Date: 06 Feb 08 - 10:59 PM

From what I've checked out so far, they look very good. Thanks for the input, folks.

Subject: RE: BS: ING Direct banking? Had experience?
From: Q (Frank Staplin)
Date: 06 Feb 08 - 11:05 PM

Try with HSBC. They offer good rates here, and this Hong Kong bank has China's full support.

ING is a large multinational as well; can't see problems short of collapse of the western banking system.

Mrzzy, deposits at Societe General (the French bank) are in no difficulty despite the $7 B loss. The second largest bank in France. Some American banks and investment houses lost more in the mortgage write-off.

Subject: RE: BS: ING Direct banking? Had experience?
From: katlaughing
Date: 07 Feb 08 - 04:19 AM

HSBC has trouble on the credit side, though...with so many different kinds of credit cards administered by them, under different names. If they had a huge loss there, that could have an effect on accounts with them, I think?

Subject: RE: BS: ING Direct banking? Had experience?
From: Mrrzy
Date: 07 Feb 08 - 09:22 AM

Yes, I know, that was a joke.

Subject: RE: BS: ING Direct banking? Had experience?
From: Stilly River Sage
Date: 07 Feb 08 - 10:11 AM

The Internet banking world has been around for a while. The question you need to check on is if it is federally insured, and if federal (U.S.) insurance is helpful to all customers, including Canadian Mudcatters.

Do you have a link to the place you're considering?

SRS

Subject: RE: BS: ING Direct banking? Had experience?
From: Snoozer
Date: 07 Feb 08 - 10:14 AM

I've had a savings account with ING for several years.
Money is automatically deposited from my checking account once a month. And when I needed some extra funds a while back, the money from ING was transferred to my checking account (at a different bank) in a matter of minutes.

Subject: RE: BS: ING Direct banking? Had experience?
From: Little Hawk
Date: 07 Feb 08 - 10:32 AM

Oh, you meant that guy who lost $7.2 billion dollars from the French bank? Yeah, I did hear about that. They're making T-shirts with his name on them. He's become a sort of celebrity. ;-)

The important thing to remember in this world is, if you're gonna screw up...do it BIGTIME!!!!!!!! That way people will take you seriously, you'll become a household name, and you'll be remembered for a long time afterward. I think that may be the principle that George Bush has been working on.

Subject: RE: BS: ING Direct banking? Had experience?
From: GUEST,Marion
Date: 07 Feb 08 - 11:00 AM

Hi Little Hawk. I've used the Canadian ING for an online savings account, and have never had any problems with it, but the interest rates for savings accounts are a little higher (4.1 instead of 3.75) at President's Choice Financial (if you have more than 1000 in the account).

Marion

Subject: RE: BS: ING Direct banking? Had experience?
From: TRUBRIT
Date: 07 Feb 08 - 11:20 AM

I had a client buying a house wanting to use them for a mortgage. I was rather anti because I work in an environment where you usually know the local friendly lender. But the couple insisted -- it was hard on my nerves because ING wouldn't talk to any intermediaries (like pesky real estate agents) but they were wonderful in the end and their rates were really good......

Subject: RE: BS: ING Direct banking? Had experience?
From: bobad
Date: 07 Feb 08 - 12:21 PM

I second President's Choice, have been with them several years now and switching to them was the best move I made. Was with Royal Bank previously and every month would have increasing service charges on my statement, with PC no service charges on debit withdrawals, cheques or bill payments plus you get redeemable points for every transaction of which I have accumulated nearly $400 worth to date. Check them out.

Subject: RE: BS: ING Direct banking? Had experience?
From: Folkiedave
Date: 07 Feb 08 - 02:57 PM

I have an account with ING and they are great - not the best interest rates in the UK now but good.

Just keep an eye on the interest rates - they do seem to hook people in and then lower them - but that is what banks do.

Other than that, really great service.

Dave

Subject: RE: BS: ING Direct banking? Had experience?
From: Little Hawk
Date: 07 Feb 08 - 08:14 PM

Hmmm. Well, I'll look into President's Choice too. Thanks.

As Bill Shatner used to say, "By gosh, the price is right!"

Subject: RE: BS: ING Direct banking? Had experience?
From: Q (Frank Staplin)
Date: 07 Feb 08 - 11:18 PM

SRS, Canada has its own deposit insurance program, the CIDC, a federal crown corporation. Nothing to do with the U. S. system.

It covers deposits with trusts and credit unions as well as banks. There is a limit, but the average investor is covered.

President's Choice is a joint venture, Loblaw's and CIBC (Canadian Imperial Bank of Commerce.
Loblaw's has supermarkets across Canada, President's Choice is used for some of their food brands as well.
The company has several venture programs.