Comments on: ING Direct Increases Savings Rate To 4.5% APY, But There Are Still Better Options Available http://genxfinance.com/2006/11/29/ing-direct-increases-savings-rate-to-45-apy-but-there-are-still-better-options-available/ Helping a unique generation achieve financial independence. Sat, 20 Mar 2010 15:15:15 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: United Steelworkers http://genxfinance.com/2006/11/29/ing-direct-increases-savings-rate-to-45-apy-but-there-are-still-better-options-available/#comment-471 United Steelworkers Wed, 03 Jan 2007 14:08:09 +0000 http://genxfinance.com/2006/11/29/ing-direct-increases-savings-rate-to-45-apy-but-there-are-still-better-options-available/#comment-471 Over the past few years, the ING Groupe has come under considerable scrutiny for a series of questionable business and investment practices. Check out the facts at www.can-you-trust-ing.com Over the past few years, the ING Groupe has come under considerable scrutiny for a series of questionable business and investment practices. Check out the facts at http://www.can-you-trust-ing.com

]]> By: Jeremy http://genxfinance.com/2006/11/29/ing-direct-increases-savings-rate-to-45-apy-but-there-are-still-better-options-available/#comment-274 Jeremy Mon, 11 Dec 2006 19:37:32 +0000 http://genxfinance.com/2006/11/29/ing-direct-increases-savings-rate-to-45-apy-but-there-are-still-better-options-available/#comment-274 Mike, you're right and many of the brokerage firms do have those as options as well and are certainly a great option. Thanks for adding that info! Mike, you’re right and many of the brokerage firms do have those as options as well and are certainly a great option. Thanks for adding that info!

]]> By: Mike http://genxfinance.com/2006/11/29/ing-direct-increases-savings-rate-to-45-apy-but-there-are-still-better-options-available/#comment-273 Mike Mon, 11 Dec 2006 19:00:00 +0000 http://genxfinance.com/2006/11/29/ing-direct-increases-savings-rate-to-45-apy-but-there-are-still-better-options-available/#comment-273 How about the online brokerage firms who are now offering the high percentage online savings accounts. I have a brokerage account with Etrade, and they offer a 5.05% complete savings account, with minimal fees (non if you truly use it as savings). I have a stock trading account, Roth IRA, and savings account with that nice yield all in one place - without the hassle of the money market fund! Thanks and great blog! Come visit my site sometime... How about the online brokerage firms who are now offering the high percentage online savings accounts. I have a brokerage account with Etrade, and they offer a 5.05% complete savings account, with minimal fees (non if you truly use it as savings). I have a stock trading account, Roth IRA, and savings account with that nice yield all in one place – without the hassle of the money market fund! Thanks and great blog! Come visit my site sometime…

]]> By: Jeremy http://genxfinance.com/2006/11/29/ing-direct-increases-savings-rate-to-45-apy-but-there-are-still-better-options-available/#comment-158 Jeremy Wed, 29 Nov 2006 16:54:41 +0000 http://genxfinance.com/2006/11/29/ing-direct-increases-savings-rate-to-45-apy-but-there-are-still-better-options-available/#comment-158 No, it is certainly not a global solution especially if you are simply creating a savings account for an emergency fund or vacation fund or something. I'm generally speaking to people who simply have a cash portion of their overall investments with no specific goal attributed to the money other than to be a cash holding. And you're right, if someone is just starting out saving it can take a while to reach the minimum, so for those types it may not be the best option to start with. Once you reach the minimum purchase though you can add additional money to it in as low as $25 increments and you can set up your automatic savings just as with any account from there. No, it is certainly not a global solution especially if you are simply creating a savings account for an emergency fund or vacation fund or something. I’m generally speaking to people who simply have a cash portion of their overall investments with no specific goal attributed to the money other than to be a cash holding.

And you’re right, if someone is just starting out saving it can take a while to reach the minimum, so for those types it may not be the best option to start with. Once you reach the minimum purchase though you can add additional money to it in as low as $25 increments and you can set up your automatic savings just as with any account from there.

]]> By: eFIPO.com http://genxfinance.com/2006/11/29/ing-direct-increases-savings-rate-to-45-apy-but-there-are-still-better-options-available/#comment-157 eFIPO.com Wed, 29 Nov 2006 16:54:28 +0000 http://genxfinance.com/2006/11/29/ing-direct-increases-savings-rate-to-45-apy-but-there-are-still-better-options-available/#comment-157 See even though INGDirect has a lower rate compared to Emigrant, the quality of customer service is much different. INGDirect has some of the best in the market which has always made me a loyal customer of theirs. Another thing is INGDirect offers there cheaper mortgage options, equity lines, and my favorite their Mutual Funds. You need an Orange account to open the mutual fund. I think ING is much better overall than Emigrant. I've had both accounts but closed the Emigrant Direct because of HORRIBLE customer service and their website is crap. See even though INGDirect has a lower rate compared to Emigrant, the quality of customer service is much different. INGDirect has some of the best in the market which has always made me a loyal customer of theirs. Another thing is INGDirect offers there cheaper mortgage options, equity lines, and my favorite their Mutual Funds. You need an Orange account to open the mutual fund. I think ING is much better overall than Emigrant. I’ve had both accounts but closed the Emigrant Direct because of HORRIBLE customer service and their website is crap.

]]> By: HC http://genxfinance.com/2006/11/29/ing-direct-increases-savings-rate-to-45-apy-but-there-are-still-better-options-available/#comment-156 HC Wed, 29 Nov 2006 16:37:23 +0000 http://genxfinance.com/2006/11/29/ing-direct-increases-savings-rate-to-45-apy-but-there-are-still-better-options-available/#comment-156 You consider a $1,000 minimum "not a major concern for most people"? The MEDIAN annual household income is around $46K. If we assume that monthly gross income is then $3833, and someone commits to saving 5 percent of that, it will take them five months to pull together that minimum. Obviously, for the tens of millions of households below that threshold, it will take even longer. I'd much rather they started with a no-or-low-minimum account because it means they'll be more likely TO start in the first place. I agree that people with current brokerage accounts may well find this of interest, but I don't think it's as global a solution as you imply here. You consider a $1,000 minimum “not a major concern for most people”?

The MEDIAN annual household income is around $46K. If we assume that monthly gross income is then $3833, and someone commits to saving 5 percent of that, it will take them five months to pull together that minimum. Obviously, for the tens of millions of households below that threshold, it will take even longer. I’d much rather they started with a no-or-low-minimum account because it means they’ll be more likely TO start in the first place.

I agree that people with current brokerage accounts may well find this of interest, but I don’t think it’s as global a solution as you imply here.

]]> By: Binary Dollar http://genxfinance.com/2006/11/29/ing-direct-increases-savings-rate-to-45-apy-but-there-are-still-better-options-available/#comment-155 Binary Dollar Wed, 29 Nov 2006 16:32:11 +0000 http://genxfinance.com/2006/11/29/ing-direct-increases-savings-rate-to-45-apy-but-there-are-still-better-options-available/#comment-155 Some additional info: GMAC Bank tallies at 5.3%. It also has debit card and checkwriting built into their money market. It's my main bank right now. No brick and mortar bank for me. :) Some additional info: GMAC Bank tallies at 5.3%. It also has debit card and checkwriting built into their money market. It’s my main bank right now. No brick and mortar bank for me. :)

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