Do you bank online or in a traditional bank and why?
By mari61960
@mari61960 (4893)
United States
January 13, 2007 8:15pm CST
I have always used a traditional bank until last year. I started a savings acount with ING Direct. I love it the interest rate is now at 4.5%. That's alot higher than any bank I have found.
Does anyone have any experience with Emigrant Direct?
I have money sent to ING from my regular checking account every month. I am amazed at how quickly the interest adds up.
Check out ING, if you would like I can send you a referal and we both make money. Just send me an email if your interested. Mari61960@aol.com.
www.ingdirect.com
6 people like this
51 responses
@lauriefnp (5109)
• United States
15 Jan 07
I have an online account with ING Direct, but Emigrant Direct actually has a better interest rate, so I have been putting more money into that account lately. I have both of my checking accounts linked up to both ING and Emigrant, so I can transfer money any time I want to. I'm going to keep the account at ING, but for now Emigrant is paying so well that it would be foolish not to use them. Either one pays much better than a traditional bank, that's for sure.
2 people like this
@mari61960 (4893)
• United States
18 Jan 07
I'll have to recheck into Emigrant Direct. I haven't looked at their site for over a year. Thanks
@mari61960 (4893)
• United States
14 Jan 07
Yes I hesitated for over a year before opening an account. But now it has been over a year since I have and I am very happy with them. I use it for my vacation savings.
1 person likes this
@dutchess67 (917)
• United States
14 Jan 07
I use a traditional credit union through my work. Its a smaller outfit, so I don't generally go to the bank unless I need to deposit a hard copy of a check. I do almost all of my banking online or at an atm machine.
2 people like this
@inked4life (4224)
• United States
14 Jan 07
We have our accounts in a traditional bankbut do most of our banking (bill payment etc) online..just like the convenience.
2 people like this
@villageanne (8553)
• United States
14 Jan 07
I use a traditional bank but I do alot of transactions online using my traditional bank. I love being able to pay bills at 3 AM if the mood strikes me. We have direct deposit so we hardly ever drive to the bank anymore. The internet is so convient.
2 people like this
@mtdewgurl74 (18151)
• United States
19 Jan 07
Do you hav to deposit large amounts of money? Is there a minium or maxium amount to deposit? I usually do my banking the old fashion way I go to the bank except when I deposit my earnings from mylot through paypal to my account.
1 person likes this
@mari61960 (4893)
• United States
28 Jan 07
No there is no minimum deposit or mimimum balance needed for an account with ING Direct. The only mnimum deposit is if you want to earn money from a referral. To do that you send the person an invitation and they must deposit 250.00 or more and you earn 10.00. But other than that you can deposit 1.00 if you want. It's a great place to put your mylot money and earn interest on it. Hope this helps..lol
@sandie61 (2359)
• United States
14 Jan 07
we mostly use a local bank but I do love ing direct. their interest is higher than any bank around. I only have a small amount in it but my goal for this year is to add more savings to my ing account. most local banks you need a certain amount in your savings or they will charge you a monthly fee. some you even need a set amount before you can open an account. but not ing. they have no fees ever.
1 person likes this
@Khokhonut (702)
• United States
14 Jan 07
I do banking online through my regular bank.
I use it to pay most of my bills, transfer funds etc.
I think it is SO handy, and alot quicker than mailing in your bills.
I haven't heard of either of the banks that you mention.
1 person likes this
@mari61960 (4893)
• United States
14 Jan 07
Ing Direct is an online savings bank, they are fdic insured and have been around for years now. They are beginning to offer new services also. The interest rate compaire to a regular bank is phenomenal for a no minimum savings account. Check it out.
www.ingdirect.com
I don't know much about Emigrant Direct.
@BunGirl (2638)
• United States
14 Jan 07
For most of my banking I use a traditional bank, but do a lot of my transactions online. I like my bank in particular because they offer a lot of perks with their free checking account.
I do also have a bank with First Internet Bank of Indiana though, for my ChaCha debit card, but I never deposit anything in there other than ChaCha earnings.
2 people like this
@brimia (6581)
• United States
15 Jan 07
I like both. Many online banks (because of less overhead) have great interest rates and bonuses for opening new accounts. I've opened several online accounts with several banks over the years and never had a problem except for Netbank...make sure to always read the fine print.
1 person likes this
@mari61960 (4893)
• United States
15 Jan 07
Yes, always read the fine print, and when you're done...Read it Again !! ;)
@samwilliams06 (946)
• United States
14 Jan 07
I dont have any experience with that bank but I dont really bank too much online. I check my balance and pay for trips out of town through my bank account. Most of the time I just prefer to do everything by hand unless its gonna be an all day process...
2 people like this
@shywolf (4514)
• United States
14 Jan 07
I have always used a traditional bank, as well. I don't know that I trust online banking, but your suggestion of ING Direct sounds good. I have been hearing about them for long enough now that I feel that they must have been around for awhile and may be a stable and reputable company. I do use Paypal which is almost like an internet bank, except that I don't get interest.. so there really is no reason why I should not look into using an actual internet bank. Thank you for the information! ^_^
@mari61960 (4893)
• United States
14 Jan 07
You're quite welcome. I too was skeptical for a while. But ING is a safe and has an excellent reputation. I have never had a problem with them for over a year. I wish I had more money just to earn the interest...lol
@cookielynn (26)
• United States
18 Jan 07
I use a brick and mortar bank but I do handle most of my banking needs online. I actually bank with a credit union because of the fewer and lower fees. Here's an article on how to save money on banking.
http://www.associatedcontent.com/article/22679/4_ways_to_bank_frugally.html
@mari61960 (4893)
• United States
18 Jan 07
Thanks for the link. I also am a member of a credit union.
@Asylum (47893)
• Manchester, England
28 Jan 07
I have used online banking for years and find it very convenient.
I used to spend a lot of time paying money over the counter and writing out and posting cheques to pay bills. Now I simply go to the bank's website and transfer funds to clear my bills. It would be a great burden for me to resort to traditional banking now.
1 person likes this
@shireishou (896)
• Indonesia
14 Jan 07
Hmmmm I cant use bank interest It's sin in m religion
But I put my money in syariah bank. we dont get interest there. just sharing income ^^
1 person likes this
@mari61960 (4893)
• United States
14 Jan 07
Well I have a wonderful idea for you to check out in my pofile..see my website "Stop Being a Victim".
@mari61960 (4893)
• United States
14 Jan 07
I'm not sure about it. Check out the link and if you want a invitation I will send you one.
