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ING Direct (ingdirect.com) is an amazing online-only bank that has virtually no fees. They've got amazing customer service. And they have the best bank web user

ING Direct (ingdirect.com) is an amazing online-only bank that has virtually no fees. They've got amazing customer service. And they have the best bank web user interface I've ever dealt with. BankSimple will need to differentiate themselves from ING Direct somehow. edit: Why the downvotes? I use ING Direct as my main bank. I love it. BankSimple will need to differentiate themselves from ING Direct to win me over. edit #2: I have nothing against BankSimple. I hope they succeed. The market could use another friendly, efficient, tech-savvy bank. Perhaps they will drive innovation in the banking industry.

deleted 16y ago
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- johnpickens 16y ago
  They most certainly do have ATM access - more so than any other institution I've banked with. It's completely free at every CVS and Walgreens.
- billpaetzke 16y ago
  ING is part of AllPoint's network. You can get instant withdrawals. There are 32,000 surcharge-free ATMs located in all 50 states, including major retailers like Target, Rite Aid, 7-11, and many others. For deposits, I use direct deposit via my employer which works great. I get my money the same day everyone else does. For depositing checks, I use my credit union (2nd bank). Since I only get a few checks/year, this is not an issue for me. I use ING direct for checking, savings, bill pay, and personal money transfers. It is, in fact, a competitor.
  - dzlobin 16y ago
    Whoa, well look at that. I've not checked on them since their very early days
  - drusenko 16y ago
    I use e*trade's "Max-rate checking" product and it's amazing: - Until recently they had a great interest rate on your checking account (2.5% APY). - I also get direct deposits, and mail in checks (is more convenient than going to the bank for me, and I don't need the money right away). - They offer ATM fee refunds at ALL ATMs. That's just awesome. Not only do they not charge you a fee, they'll instantly refund the fee the ATM charges you (comes in very handy in Vegas ;) It's no-fee with great customer support. I've been very happy with them.
horseass 16y ago
This was a great article, thanks for sharing it. I'm a huge fan of twitter myself, so I can only imagine how awesome this bank will be. I wish him luck in his future endeavors.
WesleyJohnson 16y ago
When I first signed up, their savings accounts were yielding 3% interest, which seemed great considering no minimum balance and no withdrawal fees. With the dip in the economy, they're just barely hovering over 1% now. Even still, if you compare that with the two other banks I've dealt with (5/3 and Chase), they don't really have anything that comes close unless you have massive balances or you want to tie up your money. I'd love to hear if there are other easily accessible savings accounts out there that can tie into your checking account, with no minimum balances or withdrawal fees, that offer comparable interest rates. My finances aren't stable enough right now to look into anything like CDs, Bonds, etc - it needs to be an interest bearing savings or checking account.
- billpaetzke 16y ago
  HSBC Direct is an online-only bank that offers slightly better rates than ING Direct. In fact, their rates are possibly the best (and ING the 2nd best). The downside to HSBC, is that their web interface and operations of business are antiquated. While I have an online checking and savings account with them, I really only use the savings account. I just can't bring myself to deal with them because the user experience of ING Direct is so much better. For example, if you want to transfer money from checking to savings (or vice-versa), with ING it's instantaneous; but with HSBC you have to wait a business day! Ridiculous, I say. HSBC is great if you're traveling/living in east Asia. I traveled through nine countries in Southeast Asia last year and never paid an ATM fee. Their ATMs are all over, and they're also partnered with many other Asian banks. If you live in the USA (like me) I'd say keep your 6-to-12-month cash reserve in HSBC. And do your day-to-day banking and short-term savings with ING Direct.
alanh 16y ago
ING Direct has screwed me out of money, hence my downvote.
- FreeRadical 16y ago
  Can you please elaborate?

deleted 16y ago

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johnpickens 16y ago
They most certainly do have ATM access - more so than any other institution I've banked with. It's completely free at every CVS and Walgreens.
billpaetzke 16y ago
ING is part of AllPoint's network. You can get instant withdrawals. There are 32,000 surcharge-free ATMs located in all 50 states, including major retailers like Target, Rite Aid, 7-11, and many others. For deposits, I use direct deposit via my employer which works great. I get my money the same day everyone else does. For depositing checks, I use my credit union (2nd bank). Since I only get a few checks/year, this is not an issue for me. I use ING direct for checking, savings, bill pay, and personal money transfers. It is, in fact, a competitor.
- dzlobin 16y ago
  Whoa, well look at that. I've not checked on them since their very early days
- drusenko 16y ago
  I use e*trade's "Max-rate checking" product and it's amazing: - Until recently they had a great interest rate on your checking account (2.5% APY). - I also get direct deposits, and mail in checks (is more convenient than going to the bank for me, and I don't need the money right away). - They offer ATM fee refunds at ALL ATMs. That's just awesome. Not only do they not charge you a fee, they'll instantly refund the fee the ATM charges you (comes in very handy in Vegas ;) It's no-fee with great customer support. I've been very happy with them.

horseass 16y ago

This was a great article, thanks for sharing it. I'm a huge fan of twitter myself, so I can only imagine how awesome this bank will be. I wish him luck in his future endeavors.

WesleyJohnson 16y ago

When I first signed up, their savings accounts were yielding 3% interest, which seemed great considering no minimum balance and no withdrawal fees. With the dip in the economy, they're just barely hovering over 1% now. Even still, if you compare that with the two other banks I've dealt with (5/3 and Chase), they don't really have anything that comes close unless you have massive balances or you want to tie up your money. I'd love to hear if there are other easily accessible savings accounts out there that can tie into your checking account, with no minimum balances or withdrawal fees, that offer comparable interest rates. My finances aren't stable enough right now to look into anything like CDs, Bonds, etc - it needs to be an interest bearing savings or checking account.

billpaetzke 16y ago
HSBC Direct is an online-only bank that offers slightly better rates than ING Direct. In fact, their rates are possibly the best (and ING the 2nd best). The downside to HSBC, is that their web interface and operations of business are antiquated. While I have an online checking and savings account with them, I really only use the savings account. I just can't bring myself to deal with them because the user experience of ING Direct is so much better. For example, if you want to transfer money from checking to savings (or vice-versa), with ING it's instantaneous; but with HSBC you have to wait a business day! Ridiculous, I say. HSBC is great if you're traveling/living in east Asia. I traveled through nine countries in Southeast Asia last year and never paid an ATM fee. Their ATMs are all over, and they're also partnered with many other Asian banks. If you live in the USA (like me) I'd say keep your 6-to-12-month cash reserve in HSBC. And do your day-to-day banking and short-term savings with ING Direct.

alanh 16y ago

ING Direct has screwed me out of money, hence my downvote.

FreeRadical 16y ago
Can you please elaborate?