- NEW!
by Scrappy on February 18th, 2009
I have used ING for almost 3 years and I think if they haven't went under yet, you can say they are safe. The money is FDIC insured so you will get your money back. I am happy with it except the interest rate used to be fairly high and it was well worth using them instead of the normal banks. Now the interest rate is so low that it's not really worth it anymore but I would keep things the way they are.
by celer09 on February 18th, 2009
i have direct deposit with ing too. you shouldnt change it. ing is insured by the FDIC just like your neighborhood bank or some big bank. that means if the bank goes under, youre money is safe no matter what. i think the limit used to be $100,000, but they recently increased it to like, $250,000 or something. as long as you have less than that in the account, you have absolutely nothing to worry about if the bank goes out of business. thats the beauty of the FDIC.
by Kingpinn on June 8th, 2009
ING is part of a larger finanical group and very stable. I have 3 accounts with them & are very happy.
by Ditto on February 18th, 2009
The FDIC gaurantees amounts up to $100,000 (i think it was raised to $200,000 recently). Your money is safe as long as it is with a bank that is covered. There would be no difference with a community bank except that it would have a brick and mortar address. I have direct deposit (which I love) but not with ING.
Who can take the CPA exam?
by Answerbag Staff on February 27th, 2011
| 1 person likes this
Can I send a wire transfer to Charter One Bank?
by Answerbag Staff on February 26th, 2011
| 1 person likes this
Can I purchase anonymously with PayPal?
by Answerbag Staff on February 25th, 2011
| 1 person likes this
I live near Detroit and need a bank with good online banking. Reliable transaction and balance alerts are a must.
by tallflower24 on July 25th, 2011
| 1 person likes this
Can I get images of my cleared checks online?
by Mack S_P on August 26th, 2011
| 1 person likes this
You're reading I have direct deposit with ING Direct. Not knowing the future of big banks in today's economy would I receive better banking at a community bank? How many of you have an ING Direct account? Are you happy with it?
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Comments
I know the interest rate is dropping but I'm hoping once we weather this economy the interest in savings will increase. At 2.20% its still higher than the community banks.
by S...IGH on February 18th, 2009
gee they dropped again it now 1.85%
by S...IGH on February 18th, 2009
its true that its dropping, but its dropping everywhere. proportionally, its still significantly higher than the interest rate theyre offering at regular banks.
by celer09 on February 18th, 2009
last year it was 5.05%..it's dropped a LOT
by Scrappy on February 18th, 2009
maybe this will put it in perspective. when i signed up for ing, the interest rate was around 4 or 5%. the interest rate for a savings account at Commerce Bank, my local brick and mortar bank (now TD Bank) was 0.25%. yes ing has dropped a lot, but it dropped everywhere proportionally due to the Federal Reserve. check out how low your nearby bank is...
of course it dropped "a lot". don't you read the papers or watch the news? we're in a recession! people are saving money left and right. no one's spending. when people are spending, the banks encourage saving by offering high interest rates. the opposite happens when people aren't spending. its economics 101.
by celer09 on February 18th, 2009