ING Direct
#1
Anything,Anytime,Anywhere
Thread Starter
Joined: Jan 2004
Location: The Magic Roundabout
Posts: 8,141
ING Direct
I am interested in finding out whether anyone has any experience with ING Direct for savings accounts? In the past I have not dealt with a financial institution that is entirely online.
#2
BE Enthusiast
Joined: Aug 2008
Location: Canberra
Posts: 568
Re: ING Direct
I have an ING Direct account for savings, and also had their everyday account. Found them great and no different to a bank with physical branches. (I never go to a branch for my ANZ accounts anyway). ING have excellent Internet banking and service is there on the phone if you need.
#3
Anything,Anytime,Anywhere
Thread Starter
Joined: Jan 2004
Location: The Magic Roundabout
Posts: 8,141
Re: ING Direct
I have an ING Direct account for savings, and also had their everyday account. Found them great and no different to a bank with physical branches. (I never go to a branch for my ANZ accounts anyway). ING have excellent Internet banking and service is there on the phone if you need.
I take it there is no difference with transferring funds, bpay etc to normal major institutions?
#4
Account Closed
Joined: Sep 2006
Posts: 4,374
Re: ING Direct
I deal with a savings account entirely online and have had absolutely no problems (and no problems with Bpay etc)
#5
BE Forum Addict
Joined: Jan 2003
Location: Brisbane
Posts: 1,576
Re: ING Direct
I had an account with them a few years ago they were fine. Only problem is now they are not offering a competitive interest rate.
Best at the mo are ME Bank (12 month intro rate of 5.1%) or Ubank ongoing rate of 4.99%.
They all have some restrictions you just have to live with it as the funds are guaranteed by gov anyway.
Best at the mo are ME Bank (12 month intro rate of 5.1%) or Ubank ongoing rate of 4.99%.
They all have some restrictions you just have to live with it as the funds are guaranteed by gov anyway.
#7
Re: ING Direct
We have both an ING Direct savings account and an Orange Everyday account, plus we took out a home loan with them to do some renovations. Great to deal with.
#8
Forum Regular
Joined: Aug 2012
Location: Sydney
Posts: 59
Re: ING Direct
I have an ING account as with some of my friends and haven't had any issues. I'd be wary about what the base rate will become after the intro period of 4 months. Currently the rate reverts back to 3.25% or 4% if you meet their loyalty bonus requirements
#9
Re: ING Direct
we have had an account with them for a while. Savings account you have to have a linked account (can be with any bank, but you must nominate) and money being moved OUT of ING can only go to this account. Guess it prevents fraud.
But if you have an Orange account that is a normal account.
All seems to work well and we found them easy to deal with from overseas.
But if you have an Orange account that is a normal account.
All seems to work well and we found them easy to deal with from overseas.
#10
Just Joined
Joined: Oct 2012
Location: Perth, Australia
Posts: 19
Re: ING Direct
I've got a rather a few accounts & term deposits with them.
It took me a while to trust them with their online-only presence. Imagine how that got tested when one account disappeared briefly due to a technical hitch. It re-appeared but that was still a bit nerve-wracking.
However I now have more of my money with them than the Commonwealth Bank.
Why? By chance I know some of their senior people. Failures, they are. Bounced out of senior positions in the major banks for incompetency. Their ability to earn a good return on the bank's funds was considered poor. In the past, they completely bypassed the chance to invest in the [toxic] retail mortgage marketplace in the USA. Sort of NINJA-LESS people. Hmm, actually, my kind of money manager.
I'm pretty happy with my accounts & term deposits in ING. Interest rates are reasonable. Safety is damn good. I guess that I'll add more of my money to them as time goes by.
It took me a while to trust them with their online-only presence. Imagine how that got tested when one account disappeared briefly due to a technical hitch. It re-appeared but that was still a bit nerve-wracking.
However I now have more of my money with them than the Commonwealth Bank.
Why? By chance I know some of their senior people. Failures, they are. Bounced out of senior positions in the major banks for incompetency. Their ability to earn a good return on the bank's funds was considered poor. In the past, they completely bypassed the chance to invest in the [toxic] retail mortgage marketplace in the USA. Sort of NINJA-LESS people. Hmm, actually, my kind of money manager.
I'm pretty happy with my accounts & term deposits in ING. Interest rates are reasonable. Safety is damn good. I guess that I'll add more of my money to them as time goes by.
#11
Re: ING Direct
I have a few accounts with them and term deposits and I renew with them because they always give me a good deal when they roll over. No reason to move.
Been with ING for about 10 years now.
Been with ING for about 10 years now.
#13
Re: ING Direct
I like the ING website: it isn't populated with fancy infantile animations and juvenile ads - just straightforward, user-friendly links.
Our self managed super fund has usually got several term deposits with ING but they are slowly losing their edge on rates.
Same comments apply to RABO.
Our self managed super fund has usually got several term deposits with ING but they are slowly losing their edge on rates.
Same comments apply to RABO.
#14
Re: ING Direct
FWIW, ING were forced to sell out to Barclays in the UK. We had accounts with ING with £1 in for a few years but didn't use them. However we got letters last week from Barclays to say they are running ING but retaining their name. This only affects the UK of course but ING are always trying to raise money to pay back the Dutch government for past indiscretions so who knows? FWIW I read that Investec offer the best rates to savers in Oz currently.
http://www.bbc.co.uk/news/business-19880659
http://www.investec.com.au/
RBS bit off more than it could chew in taking over another Dutch bank, ABN-AMRO, which had concealed squillions of toxic loans in the US.
Banks and bankers, who trusts them?
http://www.bbc.co.uk/news/business-19880659
http://www.investec.com.au/
RBS bit off more than it could chew in taking over another Dutch bank, ABN-AMRO, which had concealed squillions of toxic loans in the US.
Banks and bankers, who trusts them?