ING Direct

Pros: GREAT rates, reliable, hassle-free
Cons: no ATMs, must have personal checking account

I opened my ING Direct savings account over a year ago and have had a great experience with it. The interest rates are the best that I could find, its a member of FDIC, and I've never had an unpleasant experience. I've never had any problems and they've always kept their promise on offering the best rates.

The only cons, which definitely do not impact the pros of ING, is that there is no ATM. You must have a personal checking account where you transfer your money from (transfering is free). There is a small delay (1-2 days) before your money is available when you withdraw from your ING account, however, that is the case with any money transfers.

All in all, I highly recommend ING Direct. If you are interested in opening an account, I have several referrals left. When you open an account (only by using the referral) you will receive a $25 bonus from ING (and I receive $10). Let me know if you are interested, or have any questions regarding my experience with ING. If you'd like a referral, please send your full name and email address to iheartsquirrels(AT)gmail(DOT)com.

Pros: Great interest, great customer service.
Cons: No checking accounts!

I have used INGDirect for 4 years now. Every time I have called to ask for questions, they have always been courteous and gave me the info I needed. Their customer service doesn't read scripted responses and give you the feeling that you are better off hanging up and not wasting your time. This is the only bank that I have never ever had difficulties with. Of course, the interest you get at ING is about as good as you could ever hope for. One last thing--this could be good or bad--they require 3 items to log into your account--a "client ID," a pin #, and a varying personal question. Although I get impatient with this, still it is good for security. NEVER had any problems transferring money in or out of ING.

Update from 11/05: INGDirect continues to be supreme. And now--I have yet to see this feature at any other website--instead of typing in your PIN#, you click on a keypad on the webpage, so if there is a keystroke logger installed on your computer, it still can't pick up your PIN. I honestly can't figure out why this isn't SOP on all financial sites.

Pros: Great rates, no fees
Cons: No big ones, takes 2-3 days for funds to transfer from your account

I searched around the internet for awhile to try and find a bank that had a higher interest rate than the .4% I was currently getting at a traditional bank. When I saw ING Direct's 2.2% rate I thought it was too good to be true. I did some further research and ING Direct is totally legit. There are no fees associated with the account and the minimum initial deposit is only $1. On top of that if someone refers you, you get a free $25 deposited into your account. If you want more information or want me to refer you send me an e-mail at Wach20@hotmail.com. If you want a referral I need your first and last name.

Pros: none, now
Cons: You never know how they will decide to abruptly screw you. Buyer beware!

The day before Thanksgiving, ING emailed me to say that they had abruptly, without any advance notice, decided to stop making ACH EFT transfers out. I had been paying my credit card bills for months by using direct pay. ING decided money could only go out through the linked checking account from now on, but they are happy to accept money in from anywhere. Since it takes 6 days to set up an EFT link from the credit card company to the checking account, that means that I am screwed trying to pay my credit card off on time.

So I turned of my pay check deposit to ING and without giving them any notice, I am closing the account. What customer hostile treatment to do something like that the day before Thanksgiving. It wrecked my entire afternoon making alternative arrangements and talking to the bank and credit card people. All ING had to do was say we will not be doing this any more, this is the last time you can pay your credit card electronically and it would have given me time to make the change.

Pros: Interest rate, free money
Cons: time lag with transfers

I have had no problems at all with my ING account. Set up was easy, and the bonus was deposited right away. You only have to deposit a dollar to get started!

I also have a VirtualBank account, which I think is a little better. They have a much better user interface. They assign you a "personal banker" and give you a phone and fax number. You can also use their message system to communicate with your banker. I have referrals left with both banks if you are interested in signing up, and getting free money. Email me @ sbrown_freemoney@hotmail.com or visit my small web site I set up http://www.angelfire.com/ks3/coolstuff for more info.

Pros: Great interest rate, ease of use, referral bonus
Cons: None!!!

I recently opened up a savings account through ING Direct at 2.00 interest. I was intrigued due to the high interest rate (my local bank's savings pays a paltry .65). My experience has been perfect. The website is easy to use, depositing money is easy, and everything is explained right on the website. I called the 800 number once and got very good customer service. If you want to get a free 25.00 for opening your account, e-mail me at mujd96@yahoo.com for a free referral. Thanks!

Pros: Easy, fast and transparent.
Cons: None so far.

I was comparing ING Direct and VirtualBank and finally decided for ING direct because I'll get more benefits from my period of the investment.

So far everything looks clear and all information is easy to find and well organized. The rates that they offer are great and so far can't see the downside.

Very highly recommended.

If you want to take advantage of the $25/$50 bonus they offer if you open a savings or mortgage account, then, send me an email with you name and last name and I'll send you a referral link that you can use to get the $25/$50 bonus offer.

Victor.

Pros: Great Interest Rate
Cons: Limited Withdrawals

I love my ING Savings accounts because they pay great interest rates. I've made $942 on these since opening my accounts. However, I failed to read the fine print that said these are technically money market accounts and are subject to federal regulations regarding the number of withdrawals per month. So, without contacting me, ING sent a very nasty letter telling me I was making far too many withdrawals per month and told me to stop it or they'd close my accounts.

I called them to get clarification and let them know that they need to work on their communication skills. They claimed the letter was a "friendly warning," but the tone was accusatory and downright mean.

I think the limit is either 3 or 6 withdrawals total per month (across all of your accounts). This includes both true withdrawals (transfers out of your ING accounts to your linked checking account) as well as transfers between your ING accounts.

Their rates are so good that I take money at 0% interest from my credit cards and pop it into ING accounts to earn money on it.

Pros: Ease of transactions.
Cons: none! Tho $25 bonus links were hard to find.

It was so easy! The web site helps you figure out what to do. I did have some problems finding referrals on line to get the $25. It's still going on as of 1 May, 2007 and I'll be happy to email anyone a link if they email me at msdenys@yahoo.com. Send me your First and Last name and an email address. It's safe (I worried about this, but it's ok).

Highly recommend this company for the ease of transaction and the high yield. I made accounts for both my kids (we'll keep a small amount there to show them how interest works- I have other investments like 529s for them too).

Pros: Great interest rate Easy to manage website Referral Credits
Cons: Funds are not available immediately after transfering money. It takes a few days

I was looking for a bank that had a higher interest rate then most banks and a few people reccomended ING to me. After looking into it, I decided to open a savings account. It was very easy. It only took a few minutes. They even give out referral credits. The person that refers someone, gets $10, and the new person opening the account, gets $25. If anyone wants a referral credit, just email me your name and email address and I will send you the link! Email address is Tee0715@aol.com

Pros: quick, easy and interest rate
Cons: none that I can think of

I have the Orange Savings Account and it's great. I had no trouble opening up the account. Setting up the account was quick and easy. I even received a $25.00 bonus just for signing up!
The minimum deposit is only $1.00. When I opened my Orange Savings Account the interest rate was 2.2%, much more than I was getting on my regular savings account. Overall, I am pleased with my new Orange Savings Account. Try it!!

Email me (INGrules@hotmail.com) for your $25.00 bonus referral. Just need your email, first and last name. Hope this helps.

Pros: None
Cons: Can't get your funds when needed. Even a supervisor could not help me.

I sent money into ING Orange account. After two weeks I found I needed some of it back. I have made three calls to ING and they find some way not to give me my money back. It is like a scam. First I did not receive a pin. Second time I did not call from my home telephone number. The third time the pin did not work. Result: They still have my money two weeks later and lost the opportunity on a better investment. Hopefully, you will not be stupid like me. I admit they are slick.

Pros: AWESOME,
Cons: NON

I have been a member of ING since college and it has really disciplined me in saving money. The key is that its not available at your convenience. If you need money it will take 2-3 days. All you need is a checking account and you have to be 18 years old. Here's the kicker, they will start you off with 25 dollars with a referral. So email me (I get $10.00 and you will get $25.00)

RayhanJalil@yahoo.com

Pros: great interest rates, helpful & friendly customer service
Cons: may take a little time for transfers

ING just raised their rates to 3.15%! I've had a great experience with them so far. Transferring money into your account takes place the next business day. Getting money out takes a little longer, usually about a week. I've called customer service twice and they've been nothing but helpful. Overall, a great place!

Pros: High interest rate, convenience of internet banking, $25 account opening bonus, referral bonus
Cons: No ATMs and no checking accounts

Who want to have more interest from their savings account? ING Direct Bank can offer a 3.8% APY. It is a great interest rate for a savings account. They even offer a 4.75% APY until April 15. In addition, you can get a bonus $25 by opening an account through a referral link. Then you can refer other people and earn $10 for each success referral.

If you need a referral link, please send an e-mail with your first and last name to

ugacat@yahoo.com

I will send you the link as soon as possible.

P.S. Please deposit at least $250 in order to get the bonus.