ING Savings ok?

[robzie]

anyone here use them. good, bad, etc?

office uses them for 401k and was wondering if anyone would care to share their experiences with them.

Thanks

[pt91]

I use ING for savings. Interest rate is good. I do an auto-transfer once a week.
I think there is a delay of a couple of days before you can remove/transfer funds but I can't say for sure.

[Sevenrd]

I also use them for savings. Happy with them.

[budman3]

I've been using the ING savings for almost 2 years now... can't beat it. Very happy with them.

[robzie]

thanks for the feedback, guys.

[TCB]

I've been using the ING savings for almost 2 years now... can't beat it. Very happy with them.

+1

[Gnarboots11]

Yes I use ING savings. You should definately take advantage of these high interest savings accounts. There is also a citibank one, and there is an Emigrant Direct one which offers even higher interest rates than ING. I have heard good things about all of them. The citibank one is also a higher interest rate than the ING.

[AL417]

I used to use ING switched over to Emigrant. Higher % for the same type of service. I think Emigrant is at 5.05% right now.

[sneek]

I use ING
I only have good things to say about them.

[RTexasF]

We use ING and HSBC both. HSBC pays more and both have worked well with no fuss. If ING doesn't up their rate soon I'll drop the balance and put it in HSBC.

[ScottB]

very large insurance firm, very well rated. I sell their annuities to high wealth clients. I could explain why they can pay much more than typical banks, but it would be lengthy and bore you to tears.

Its insured, and a good choice for savings just realize it can take an extra day or so to transfer funds back when needed.

[jfsully]

The Orange account (ING Savings) is very convenient and normally a higher return than local banks. It can also be linked to your local checking account.

ING is a huge international corporation with many divisions including the ING Bank, ING Insurance, ING Mutual Funds etc. (They also are the main sponsor of the Renault F-1 race team.)

Your ING 401(k) is possibly annuity based and, if you read the fine print, has high internal fees so your plan sponsor does not have to pay administrative costs. (higher fees = lower returns) With the new pension laws the plan sponsor may have to look at lower expense plans or be subject to violating "fiduciary responsibility".

Not to open a can of worms with killr but.....regulatory agencies believe variable and Equity Indexed Annuiites are some of the most oversold products (for their high commissions), They have their place but they certainly aren't for everyone. The regulators down here (and around the country) frown on them being sold inappropriately to the elderly and others.

Keep in mind an annuity is insurance and Insurance is a risk mangement tool.

[FMINUS]

ING
Emigrant
HSBC

[clambros]

We use ING and HSBC both. HSBC pays more and both have worked well with no fuss. If ING doesn't up their rate soon I'll drop the balance and put it in HSBC.

Same Here

[ScottB]

Not to open a can of worms with killr but.....regulatory agencies believe variable and Equity Indexed Annuiites are some of the most oversold products (for their high commissions), They have their place but they certainly aren't for everyone. The regulators down here (and around the country) frown on them being sold inappropriately to the elderly and others.


Most regulators cannot even begin to describe, correctly, what a variable annuity is nor its benefit. Sure there are costs associated with it, some are no larger than mutual funds over a specific window of time. Its the riders that are often miscommunicated and misused or never discussed.

An annuity is a valuable enhancement to most individuals assets when used properly to help plan for retirement, protect and grow assets, and tax deffered interest for high wealth clients. I would also suggest a portfolio and life insurance (the only way to truly provide tax free benefits to your beneficiary) in addition for well rounded approach to asset management.