anyone use ING Direct?

[third_shift|studios]

anyone have any thoughts on this bank? It's offering a variable rate account of 4.15%. no min. balance and no withdrawl fees. Can be tied to my PNC checking for direct deposits. My fear is it could be 4.15 now and .005 next month. let me hear your thoughts. I'm doing some googling while you're moogling.

[Tobynine9]

I've been using ING Direct for over a year now. My interest rate has gone up from 3.45% to 4.15%. The rate is tied to market rates. So yeah, if the market interest rate drops to where it was in the late 90's, your rate is gonna go down. But if the Fed keeps raising rates, the US trade deficit stays large, and the dollar keeps going down in value, interest rates will continue to go up.

ING is a legit bank. They just do all their business online. I originally started using it because I get an FDIC insured account with an APY higher than Wells Fargo was gonna give me for a Money Market account or even a mid-term CD.

Don't use it as your sole investment but it's a great place to keep your 3-month cash reserve.

[my5thNewUsernameHere]

I've been using them for a couple of months now, no complaints here.