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I'm currently with ING and have been for several years. I'm comfortable with them but notice that other online banks now have better rates. Is there a catch to the better rates? What am I paying for with a lower rate?


Hi Edy!

I also have been a very happy customer of ING, and have, as you, had it for several years. But the difference in rates became too great of late for me not to add other accounts with some equally reputable online banks.

I now have accounts with HSBC, Emigrant and ING. There are no strings attached to the rates, they're just better than ING. I had a sizeable chunk of cash to put away and I didn't want to settle for the 4.35% ING was giving me, so I put it into Emigrant, along with a good amount into HSBC. This frees me up to move funds around if the rates vary enough between the banks to make it worthwhile.

There's no downside, imo, to having more than one online account.

Good luck in whatever you decide!

Tony
...but I still am...

Off2Aruba
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