As featured in The Wall Street Journal, Money Magazine, and more!
     

ING Direct Offers 4.75%

This article was written by in Banking. 9 comments.


ING Direct

ING Direct is looking to win back defectors who have left the bank in search of higher interest rates. The “Orange One” is now offering 4.75% APY on new deposits from January 19 until April 15.

In order for the funds to qualify, the money must be from an external source and be deposited into the savings account between the dates listed above. The amount available for the higher interest rate is the net of new deposits and withdrawals, so you can’t withdraw money to another bank and redeposit it to qualify for the higher rate.

New and current account holders qualify for this winter special. After the promotion ends, funds will return to the standard APY at that time. I keep my cash funds between ING Direct and Emigrant Direct, but you can shop for the best rates here.

Updated February 6, 2012 and originally published January 19, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

Email Email Print Print
avatar
Points: ♦127,500
Rank: Platinum
About the author

Luke Landes is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about Luke Landes and follow him on Twitter. View all articles by .

{ 9 comments… read them below or add one }

avatar fivecentnickel.com

So basically the’re rewarding those that have moved their money elsewhere, as opposed to trying to retain current customers.

Reply to this comment

avatar Luke Landes ♦127,500 (Platinum)

Essentially, yes, but it’s sneaky. If accused of favoring new customers ahead of current customers, they could simply say that the offer is for current customers as well, because every deposit (minus any withdrawal) will also qualify for the rate, encouraging consistent depositing, not just holding.

Reply to this comment

avatar JR

This is going to piss off their best customers.

Reply to this comment

avatar Jerry Kindall

Hm. Are they still offering the bonus for opening a new account? If so, anyone got a referral code?

Reply to this comment

avatar Luke Landes ♦127,500 (Platinum)

Mine are used up. My girlfriend has some but she doesn’t remember her account number for checking her account. I’m sure someone will step up and offer — Email addresses aren’t public here so the first comment poster with a valid email to offer their $25 referral will get forwarded by me to Jerry.

Reply to this comment

avatar JR

I can send Jerry a referral. Remember you now need to fund it with a minimum amount – $250?

Reply to this comment

avatar Neo

It appears in response, Emigrant Direct has posted to their web site the details of their new American Dream Credit Card.

http://www.emigrantdirect.com/

Neo

Reply to this comment

avatar Curtis

I’ve just written these people a note to get back to their original roots. Have you seen the orange car commerical? What do you suppose that costs? I will be moving all of my funds out of their CD’s and savings when they come due. I can find better rates (Bankrate.com) on savings and CD’s even after they give you the .1% rollover bonus.

If they would return to the basics they would hold us as customers.

Reply to this comment

avatar Matt

I’ll give out referrals for ING Direct to anyone. I have 10 left and I get $10 for each one I give out. Contact me and I’ll send you the link.

Reply to this comment

Leave a Comment

Connect with Facebook

Note: Use your name or a unique handle, not the name of a website or business. No deep links or business URLs are allowed. Spam, including promotional linking to a company website, will be deleted. By submitting your comment you are agreeing to these terms and conditions.

Notify me of followup comments via e-mail. You can also subscribe without commenting.

Previous post:

Next post: