Latest responses to “Review Of ING Direct Savings and Electric Orange Checking Accounts” Copyright 2012, MoneyBlueBook.com 447710 2010-08-12T14:29:20-07:00 rob I do like their service, and getting money out is quite quick if need-be, usually by the middle of the next day after having requested it, it's in my account. I do have a "bit" of a problem with their very slow "taking" of the money from my bank account. When I send my savings, it leaves my personal bank account the next day, but languishes on hold for seven days. Yes they pay interest, which really isn't my reason for saving it, it's just to put it away somewhere AWAY from my spending account, but seven days???? I generally put lots in, but end up taking $40 or so back to shore up groceries or shortages, but always the amount is growing, so it's a bit difficult when that happens. Since we are paid on Thursdays, if I place the money to ING, it's not usually ready until the following Friday 7-8 days later, thus if I wanted to claw back a small amount, it doesn't happen until Monday. That's about my only complaint, it really makes no sense it takes seven days to deposit, as a payment to credit card takes about 3-4 at most? Anyhoo! 447700 2010-06-02T22:57:34-07:00 Ryan I love ING's checking and savings accounts, but I've never had a mortgage from them. G, how did ING take 60% of the profit of selling your home? That would mean that if you owed ING $50k and sold your home for $150k, ING would have taken a total of $110k (the $50k you still owed and 60% of the $100k profit). I don't understand how that's even possible...how a title company would have done the transaction if it was that skewed. Could you explain? 447690 2010-05-12T20:44:43-07:00 G Do not get an ING Direct mortgage �� it is classed a Predatory Home Loan in Massachusetts, due to their 3% prepayment penalty! ING Direct may be a Predatory Lender in your state too. I held my loan for 3 years and did not miss a payment, upon selling my house ING took 60% of the profits as a fee without any warning, which is illegal under Mass State Law. I'm trying to recover the thousands ING decided to keep for themselves and I'll let you know what progress I make�� 447680 2010-02-19T17:01:21-08:00 en INGDIRECT saving and checking account are OK, but their easy orange mortgage is terrible. First of all, when I applied mortgage, the customer service gave me the wrong information. They said that when I relock my rate, the clock does not restart which means that no matter how many times I relock my rate, the prepayment penalty only applies to the 1st year from the initial refinance. But when I signed the paper work, I saw that I still need to stay with ING for another year to avoid the prepayment penalty. Then I called customer service, basically they said that I could get out of my loan now but I still had to pay $300. I went ahead sign the loan because I thought relocking the rate for $700 is still attractive which they advertise it. Then now I am ready to relock, they told me its two month mortgage or $2500 just to relock the rate. I will never use ING mortgage. 447670 2009-03-10T06:59:52-07:00 Ryan I've never had to wait longer for a transfer than ING's claim for transfer time. If I deposit to my ING savings, it's on hold for 5 business days (beginning the day the transfer is started, which is the business day after I schedule it online). When I withdraw back to my US Bank account, it takes 2 business days (if I transfer online on Tuesday it leaves ING Wednesday and shows up at US Bank on Thursday). If I move money from US Bank to my ING checking, it is on hold for 2 business days (if I schedule it Tuesday online, it's held for Wednesday and Thursday and is available on Friday). I've never had a problem with this anyway. I use direct deposit to my ING checking and that's available immediately. If I need money, I use my ING debit card. Besides, if I put money into my ING savings, I don't withdraw it in two weeks! What's the point of putting money away if you're just going to take it right back out? 447650 2009-03-07T16:56:48-08:00 brista It takes FOREVER to transfer money to and from my outside bank. They SAY it takes 2 business days, but that is a complete lie. It has taken a minimum of 7 business days every time I initiated a transfer deposit to ING. For instance, on Wednesday, I transfered money from my brick bank to my ING checking. It said that the money would transfer on Friday. On Friday, it said that the money is in my ING account but would not be accessible until the following Friday. That is way more than 2 business day! That's nearly 2 weeks! Other than that, I like ING. But I think the waiting time is ridiculous. And customer service just repeated the same line the website gives -- ACH takes 2 days, if it takes longer it's 'because of your other bank.' Uh, no. It does not take my other bank nearly 2 weeks to process any of my other outside transfers. 447660 2009-01-22T09:41:31-08:00 Ryan Actually moving money to and from ING takes the same amount of time if you have Electric Orange. It only takes longer if you move money from an outside bank into ING's savings. Besides, if I'm moving money into my savings account, I'm not going to take it out within a week! What's the point of that? :) 447640 2009-01-19T22:32:13-08:00 JimmyDaGeek ING (and probably other banks) makes a distinction between withdrawing money from a linked account versus having money electronically transferred into your account (not including payroll, which are available overnight). The former usually takes no more than 3 business days, while the latter usually takes over a week, so plan accordingly.