Anyone knows about ING accts????

Avatar for mymartes
iVillage Member
Registered: 03-26-2003
Anyone knows about ING accts????
2
Thu, 03-27-2003 - 11:13pm
As most of u know, my h and I are in $60,000 debt due to his 2 yr affair. I'm a SAHM with toddler twins (boy and girl). $40,000 of the debt are cc, which I transferred to a 3.9% interest cc for the life of balance.

I would like to start an emergency fund with some of the $ we are getting back from taxes. However, I don't want H to have easy access to it. If fact no access. We are in the process of rebuilding marriage. However, I don't trust him, much less with our finances.

Can anyone tell me more about opening an ING acct. Is interest rate good? How can I withdraw from it when need to? etc..

Thanks

MYM

Avatar for zaboz
iVillage Member
Registered: 03-26-2003
Fri, 03-28-2003 - 8:21am
ING is basically an online bank (there aren't any physical branches or at least not many). The interest rate for a savings account is 2.3%. It's not a lot of money but

it's better than most local banks (I think our local bank pays .9%!).

You can set it up to be linked to your local account. That way, you can set up transfers back and forth. The only downfall as I see it is it takes a few days to transfer the money. But in a way, it's a positive because you really have to want that money to bother with it (you won't spend it frivilously because it's sort of out of reach).

If you open your account via referral, you will receive $25. It takes a little while to

see that money come in to your account, but there's no minimum so it's basically free money.

If you'd like a referral and don't mind posting your email address, I'll send one through.

Their site is ingdirect.com if you'd like to read more about it.

Zaboz

Avatar for zaboz
iVillage Member
Registered: 03-26-2003
Fri, 03-28-2003 - 8:24am
I forgot to add, that as far as your husband having access, you can set it up in

your name only. You will have a password that will ensure that no one else can get into

the account. Even when my husband and I opened ours jointly, we each had a separate password. But I could have opened it on my own and still linked to our joint checking account.