SnapThat
Senior Member
Cash: $ 26.48
Posts: 235
Joined: 07 Nov 2004
Location: Illinois
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I want to start up a savings account, but I have a quick question first:
Capital One has a savings program that has a interest of about 2.2%, whereas the highest other savings I can find is about 0.395%. Is Capital One really a "bank" and should I start with them, or am I missing something?
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Sun Nov 07, 2004 2:40 pm |
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xboxundone
Senior Member
Cash: $ 67.83
Posts: 796
Joined: 19 Sep 2004
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A great place for a savings account is ING Direct. I have been using them for some while now and they give 2.2% return. If you want to receive a special $25 sign up bonus PM me with your name and email and i will send you an invite. You wont get the 25 without an invite. feel free to checkout ing @ www.ingdirect.com
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Sun Nov 07, 2004 7:57 pm |
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Andrew
Admin
Cash: $ 460.25
Posts: 1695
Joined: 02 Nov 2003
Location: Texas
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 I've got a loan from Capitol One. No problem.
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Mon Nov 08, 2004 2:46 am |
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SnapThat
Senior Member
Cash: $ 26.48
Posts: 235
Joined: 07 Nov 2004
Location: Illinois
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I looked aroung ING Direct, and discovered I need a checking account to go with it. What banks do you guys recommend?
Just to make sure I have things clear - I have money in a checking account. ING Direct moves the money from my checking account to their bank, without charge, and thus, I have a savings account, correct?
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Mon Nov 08, 2004 3:39 am |
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xboxundone
Senior Member
Cash: $ 67.83
Posts: 796
Joined: 19 Sep 2004
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quote:
Originally posted by SnapThat
I looked aroung ING Direct, and discovered I need a checking account to go with it. What banks do you guys recommend?
Just to make sure I have things clear - I have money in a checking account. ING Direct moves the money from my checking account to their bank, without charge, and thus, I have a savings account, correct?
Correct you will tell ING how much you want to move from your checking account to your ING savings account. You can have it transfer as one time transfers or recurring (if you have regular income). Yes there are NO charges to move you money in or out.
Do you have a checking account already? If not get a local bank checking account as it makes it easier to deposit money etc...
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Mon Nov 08, 2004 1:02 pm |
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BlankenshipFP
Money Talk Advisor
Cash: $ 79.56
Posts: 390
Joined: 05 Oct 2004
Location: Illinois
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Capital One (and ING Direct, for that matter) is a bank, as evidenced by their "FDIC-Insured" label.
They are able to pay this higher rate because their overhead is lower than brick & mortar banks, and they can aggressively cross-sell to you once you're hooked.
Nothing wrong with it - it's just their way of doing business. For an extra 1.8% on a savings account with no restrictions, I can ignore a lot of ads.
Just my $.02.
Jim Blankenship, CFP®, EA
Blankenship Financial Planning, Ltd.
www.BlankenshipFinancial.com
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Tue Nov 16, 2004 7:00 pm |
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xboxundone
Senior Member
Cash: $ 67.83
Posts: 796
Joined: 19 Sep 2004
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quote:
Originally posted by BlankenshipFP
Nothing wrong with it - it's just their way of doing business. For an extra 1.8% on a savings account with no restrictions, I can ignore a lot of ads.
Just my $.02.
Same here throw ads in my face just make sure to give me my % 
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Wed Nov 17, 2004 12:53 am |
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