ING DIRECT up to 4.40 % from 4.35%

[fitzov]

Isn't Paypal up to 3.5 now? How does this compare with Paypal?

 

[ECartman]

Originally posted by: fitzov
Isn't Paypal up to 3.5 now? How does this compare with Paypal?

If memory serves me PayPal isn't FDIC insured I don't think.

 

[crypticlogin]

Originally posted by: ECartman

Originally posted by: fitzov
Isn't Paypal up to 3.5 now? How does this compare with Paypal?

If memory serves me PayPal isn't FDIC insured I don't think.

It isn't but then again, I don't think I've ever lost money in their monkey market fund. Still, I wouldn't use Paypal as a savings account... because it isn't.

 

[dirtrat]

Can someone send me an ing referal?

 

[Sparke]

Originally posted by: dirtrat
Can someone send me an ing referal?

sent

 

[Taggart]

Originally posted by: dirtrat
Can someone send me an ing referal?

Check your inbox.

 

[chipy]

Originally posted by: TGS
HSBC is the devil...

why? i am in the process of signing up with them... just need to verify bank deposits. i have ING Direct and i guess i'll keep the account open for a little while longer just in case something goes wrong with HSBC.

chipy

 

[lytylim]

thanks spanishguy

 

[shortspanishguy]

check ur pms

 

[Rauthoen]

In case people didnt know this already

Emigrant is up to 4.00% yesterday!

Link

 

[goofy4ever]

how does ED compare with ING, in terms of service, etc?

ED's account agreement says that it reserves the right to "deny" withdrawal for up to 60 days!?

EDIT: nvm. you can get a detailed info here

 

[htspecialist]

The emigrantDirect 4% deal dumps all over this Ing deal.

 

[esquared]

ING went up to 3.4% from 3.3%. Kind of a big-whoop-de-doo after Emigrant jumped from what, 3.5 to 4.0% yesterday? If this is ING's response to that jump, it might be time for me to jump also. To Emigrant.

 

[mb]

Meh, I'm opening an ED account tomorrow. I will probably keep a little in ING, at least for a while.

 

[Sparke]

I moved to ED a little while ago. Here's a comparison:

Savings rate: ED has the better rate by far.

Interface: ING clearly has the better interface.

Bonuses: ING gives you $25 at signup and can give you more money if you refer other people. EG gave me a freebie hat (with EmigrantDirect.com printed on it) about 3 months after my signup.

Fees: Neither bank charges fees

Advantage? You. Start off with ING, get the $25 and put the bulk of your money in EmigrantDirect for the better savings rate while continuing to give out ING referrals. It's a win-win situation for you.

 

[matrix5646]

Sparke has it right on. I always refer friends to ING who don't have a large savings account as the sign on bonus outweighs the % difference with emigrant. but if you have a rather large savings emigrant is far superior over the long run.

 

[gordita]

how much savings $$$ do you guys really have that some of you are jumping ship from one bank to another for 0.25 - 0.5% difference.
I'm just curious.
I have about $15k in savings and I'm trying to understand if I should do the ING --> ED move.
how do u determine how much liquid cash should you have and once that figure is attained, do you invest rest of your cash or pay more towards your mortgage or just go out/take vacations?

 

[jasonja]

I can send our referrals for ING too if anyone needs one just PM me.

 

[bob4432]

i have ~$XXK in local savings accts that i am moving into ing accts, ~$XXXX currently in ing (wanted to test it out since it is new to me) and more $$$ it non reachable retirement accts through work.

as far as what i do with extra $$ i pay more on my mortgage and any loan that i have that has interest on it(which is very few, maybe 2, if that). one of my vehicles is a 0% loan, so i really don't care about it, but the vehicle i have that i pay a bit of interest on gets an extra 50% every mos usually. as far as going out and take vacations, not usually.

anybody need a referral let me know

 

[McPhreak]

Originally posted by: gordita
how much savings $$$ do you guys really have that some of you are jumping ship from one bank to another for 0.25 - 0.5% difference.
I'm just curious.
I have about $15k in savings and I'm trying to understand if I should do the ING --> ED move.
how do u determine how much liquid cash should you have and once that figure is attained, do you invest rest of your cash or pay more towards your mortgage or just go out/take vacations?

If you can afford it, paying off extra principle on your mortgage is usually a good move. If the interest on your mortgage is more than the interest you receive from savings, then you would save more by putting the money into your mortgage. The down side to this is that your money is no longer liquid though.

I think the amount of cash on hand is dependent on your personal situation. You should have at least 1-2% of your home value available/year dedicated solely for home repair/emergency.

 

[lsman]

Originally posted by: Sparke
I moved to ED a little while ago. Here's a comparison:

Savings rate: ED has the better rate by far.

Interface: ING clearly has the better interface.

Bonuses: ING gives you $25 at signup and can give you more money if you refer other people. EG gave me a freebie hat (with EmigrantDirect.com printed on it) about 3 months after my signup.

Fees: Neither bank charges fees

Advantage? You. Start off with ING, get the $25 and put the bulk of your money in EmigrantDirect for the better savings rate while continuing to give out ING referrals. It's a win-win situation for you.

Also. speed (or time different when transfering fund between your other source to both)

ING by far.
(e.g I transfer money on Sept 19 and now 23, still not "available" at EG)
ING took about 2 days to have the funds "available"

 

[ClockerXP]

as far as what i do with extra $$ i pay more on my mortgage and any loan that i have that has interest on it(which is very few, maybe 2, if that). one of my vehicles is a 0% loan, so i really don't care about it, but the vehicle i have that i pay a bit of interest on gets an extra 50% every mos usually.

It really is better to keep the 'extra' money you would pay on your mortgage in a dedicated interest bearing account until you're ready to either pay off the mortgage or refinance into a new one. Otherwise, you're giving your mortage company a free loan and THEY will be the one earning the interest off your money.

Of course, it would take a level of discipline to do that (not touch the money after you have put it away for your mortgage payoff) so that option might not be for everyone...

 

[lsman]

Originally posted by: ClockerXP

as far as what i do with extra $$ i pay more on my mortgage and any loan that i have that has interest on it(which is very few, maybe 2, if that). one of my vehicles is a 0% loan, so i really don't care about it, but the vehicle i have that i pay a bit of interest on gets an extra 50% every mos usually.

It really is better to keep the 'extra' money you would pay on your mortgage in a dedicated interest bearing account until you're ready to either pay off the mortgage or refinance into a new one. Otherwise, you're giving your mortage company a free loan and THEY will be the one earning the interest off your money.

Of course, it would take a level of discipline to do that (not touch the money after you have put it away for your mortgage payoff) so that option might not be for everyone...

won't it depends if
for example loan rate is 4%... if you can make your money get more than 4% (remember your money earn is after tax)

 

[ClockerXP]

Good point. However, I'd rather have the flexibility of keeping that money in my pocket for the very small amount it would cost me (i.e. the difference between the <4% mortgage I have and ING). In my case, I invest in Demand Notes which have a >4% return so I make $.

 

[ECartman]

you're right generally ClockerXP.

I wouldnt pay down mortgage early except in certain circumstances.

In Cali, especially if your gonna move in 5-10 years, NEVER pay your mortgage down. Invest the dough elsewhere, enjoy it, whatever. A mortgage is leveraging your capital and in the last 10 years in Cali (and elsewhere) you would have got immense capital gains on your house with very little cash outlay -- ie you put $10K down, you get $50K in capital gains in a two years -- you make a 500% return on your money. Right right... It won't last forever, but it aint done yet.

Bottom line, it is too simplistic to simply pay down your mortgage early. All sorts of factors play into it. It is too easy to earn 6-7% right now, why pay down a 4.85% mortgage (not to mention the tax deduction that reduces the effective mortgage interest rate to like 4.1% --in my case--or less). You are losing both liquidity and money, and most importantly, leverage.