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JenMarie
One day at a time
Member since 11/07 7397 total posts
Name:
Jennifer
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ING Account Question
Last I checked, the rate was 3.00%. If I were to open an account when that is the rate, is that a locked in rate, or does it go up when the rates are raised? Also, how long does it take to transfer funds to and from the account to another bank account? TIA!
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Posted 7/14/08 10:25 PM  |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
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Re: ING Account Question
The rate is not locked in - goes up & down. It takes a week for funds to be available when you make a deposit to ING and I think it takes 3 days to transfer out.
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| Posted 7/14/08 10:27 PM |
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MichLiz213
Life is Good!
Member since 7/07 7979 total posts
Name:
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Re: ING Account Question
You are not locked into the rate. If the rate goes up, you benefit, but I started my ING account when it was like 5.2% and now it's down to 3.00%. So it could go either way. It takes me about 2 business days for money to transfer between accounts. HTH!!!!
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| Posted 7/14/08 10:27 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: ING Account Question
I just opened one 3%
I happen to love that it would take me a while to get the money back- it means I really can't use it- and that in itself is helping me save
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| Posted 7/14/08 10:37 PM |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
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Re: ING Account Question
Posted by Beth1210
I just opened one 3%
I happen to love that it would take me a while to get the money back- it means I really can't use it- and that in itself is helping me save
That's why I like it too. I closed my chase savings account so I wouldn't have immediate access. It transfers quickly enough that it's not a big deal.
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| Posted 7/14/08 10:53 PM |
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JenMarie
One day at a time
Member since 11/07 7397 total posts
Name:
Jennifer
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Re: ING Account Question
Thanks everyone!
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| Posted 7/14/08 10:59 PM |
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Katie111806
Team Pink!
Member since 12/06 5349 total posts
Name:
Katie
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Re: ING Account Question
Posted by Christine
Posted by Beth1210
I just opened one 3%
I happen to love that it would take me a while to get the money back- it means I really can't use it- and that in itself is helping me save
That's why I like it too. I closed my chase savings account so I wouldn't have immediate access. It transfers quickly enough that it's not a big deal.
This is why I like it too! I pretend like I can't even take it out. I'm not thrilled with the nosedive the interest rate has taken, but hopefully it will eventually go back up.
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| Posted 7/14/08 11:01 PM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: ING Account Question
I agree about not having quick access not being a negative, also all savings interest rates have been going down, its still relatively high as compared to other options
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| Posted 7/14/08 11:56 PM |
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Sandra
LIF Adult
Member since 5/05 1185 total posts
Name:
Sandra
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Re: ING Account Question
Is this a daily compound of interest on the dollar?
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| Posted 7/15/08 7:16 AM |
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