| Which bank should i turn to for savings account |
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andiruleu
Member
Cash: $ 2.15
Posts: 10
Joined: 28 Jan 2007
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| Which bank should i turn to for savings account |
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Hello
I'm new to this forum, well new to this investing thing.. and i hope that i'm in the right forum.. i'm only 18 years old and i want to start early. so i was thinking of a savings account that i should have.. but i was wondering which bank i should go to? i read about emigrantdirect.com or ingdirect.com... i was curious which one should i choose?
Thanks
Andrew
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Sun Jan 28, 2007 2:11 am |
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andiruleu
Member
Cash: $ 2.15
Posts: 10
Joined: 28 Jan 2007
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i have that much amount in my savings currently in my wamu account which is walking distance from my house.. and i have a checking account. and about the job, i have income coming in .. and now i was thinking switching my savings account from wamu to either those sites. but cant decide which one.
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Sun Jan 28, 2007 6:53 pm |
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Avino
Preferred Member
Cash: $ 24.80
Posts: 117
Joined: 27 Mar 2006
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Hi,
Personally I use ingdirect.com as a 2nd savings account. It allows you to automatically set up transfers from your bank account and has a few options for you to use as to the frequency of such transfers. The down side is that there is a 10 day waiting period from when you deposit your money to when you can use it. But if this is a long term savings account, than its not so bad.
Also, if you have bad discipline, the 10 day wait period forces you to get a sense that money you save shouldn't be used up right away. I have it set up to deduct a set amount on the dates I get paid, and then make believe its a bill that I'm paying and forget about that money.
I don't know anything about the other site that you mentioned, ING came recomended from a friend two years ago. The interest rate is 4.5 apy, and you will see a deposit every month from ING for any interest that you have earned.
~A.
Also blogging @ avinos2cents.blogspot.com
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Mon Jan 29, 2007 4:19 pm |
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