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Newbie asking about ING

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  • #19837


    I’m a newbie to the the Wallet Doctor plan.
    We are getting ready to start our program in March…I currently bank with Wells Fargo and am wondering how that compares to ING Direct?? How good is the interest on the savings account at ING? For example, if I had $100.00 in the savings for one year solid, never moved it..would it earn .80% in a year, making that $100.80? Just want to make sure I’m understanding the numbers…..looks like my current interest rate at Wells Fargo savings is .03??? Is that even right?! WOW! How readily available is the money? Can you do immediate online transfers, for example, from my ING Savings into my Wells Fargo checking? Is there any real benefit to having the checking account with ING also? Thanks for any insight anyone can give me! Heather



    I don’t use ING Direct because of the interest, its lousy.
    I use it to get my emergency fund out of my regular bank.
    I also have some quarterly and annual sinking funds there as well.
    The transfer time is 2-3 days Having the checking account allows instant access to your money with a debit card.
    You just transfer the money from the savings to the checking when you need to use it.
    Shay Sent from my Android phone using TouchDown ( [MOD EDIT: URL removed]



    No banks are paying interest until the Prime Rate starts to go back up and that won’t be until 2013.



    Also, if you have a checking and savings at ING, you should get faster transfers.
    Going outside of ING it will take 2-3 days.
    Call them and ask.

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