is this interest compounded daily or what? i'm not sure about this.

 

no interest is not compounded daily from my knowledge with ing

 

the only benefit from ING is that their interest value is similar to Wells or BoA's CD accounts right?

 

yeah, but its a savings account so you can withdrawal from it whenever you want

 

werd.

 

Accrued daily, compounded monthly.

 

Do they even have any branches? No right?

 

everything is done via internet

 

the only complaint is that the transfers aren't as quick as i want them to be... you have to wait a couple of days for it to take place.

 

I suspect that this is an issue with the target bank rather than ING. ING is pulling money away from the banks by giving better rates. Obviously the banks don't like this and probably make it as inconvenient as they are legally allowed.

 

i have an fnb direct acct and i'm all for it

 

fnb better than ing? EQ, i seee you...respond to my PM please.

 

Actually, it has more to do with how liquid the money in ING accounts are than the xfer. Banks WANT you to xfer money into them, as they can then use it. ING account can offer a higher rate by having less liquidity (e.g., takes 3 days to xfer rather than 1).

 

i cancelled my ING account last yr for this.

http://www.amtrustdirect.com/pages/default.aspx

5.36% > 4.5%

 

www.FNBOdirect.com - 6.00% APY


IMO...unless you have $10K or more, you're not going to gain much by rate chasing. My pocket change goes to ING.