STYLETHREAD -- LET'S TALK SHOP!

KaffeeKlatsch · Marc Jacobs

ING

crystal · Kate Spade

sweet, thanks for posting!!

Farrah · Marc Jacobs

Thanks for posting. I am actually thinking of switching to an HSBC online account. Their interest rate is 3.75%!!!

crystal · Kate Spade

Farrah wrote:

Thanks for posting. I am actually thinking of switching to an HSBC online account. Their interest rate is 3.75%!!!

Hey Farrah, be sure to do research... I know that there are other online "banks" that offer higher APY's than ING, but they are often more "sketchy." I know I've read many people having trouble getting their money from Emigrant (which offers a higher APY than ING), but I've never even heard of HSBC. Maybe head over to creditboards.com and check out their money management forum to see if anyone has reviewed it. You could ask about it too, but it's a pretty slow board so the response time may lag a bit. Good luck!

NCshopper · Hermes

This may be a stupid question, but what is ING?

crystal · Kate Spade

NCshopper wrote:

This may be a stupid question, but what is ING?

It's an online savings account. You link it to your B&M checking account and can transfer money between the two. The reason it is so great is because it has a much higher interest rate than regular bank savings accounts. Also you get $25 just for signing up if one of us emails you an invite, so let us know if you want in on the fun! There is no minimum to start the account with, it could be $1!!

NCshopper · Hermes

Sounds pretty cool! Will you e-mail me an invite Crystal? I think my e-mail address is on my profile. If not, PM me and I'll give you my e-mail address.

crystal · Kate Spade

NCshopper wrote:

Sounds pretty cool! Will you e-mail me an invite Crystal? I think my e-mail address is on my profile. If not, PM me and I'll give you my e-mail address.

You've got mail!

NCshopper · Hermes

Wooohooo! Thanks Crystal!

Farrah · Marc Jacobs

crystal wrote:

Farrah wrote: Thanks for posting. I am actually thinking of switching to an HSBC online account. Their interest rate is 3.75%!!! Hey Farrah, be sure to do research... I know that there are other online "banks" that offer higher APY's than ING, but they are often more "sketchy." I know I've read many people having trouble getting their money from Emigrant (which offers a higher APY than ING), but I've never even heard of HSBC. Maybe head over to creditboards.com and check out their money management forum to see if anyone has reviewed it. You could ask about it too, but it's a pretty slow board so the response time may lag a bit. Good luck!

Thanks for the info Crystal. I was considering switching to Emigrant because they are at 4% right now, but now I know that I won't.

Just a little background on HSBC: they are the biggest bank in Europe and they are starting to enter the US at a pretty high rate. When I was out in NYC a few weeks ago they were EVERYWHERE.

member · Hermes

crystal wrote:

NCshopper wrote: This may be a stupid question, but what is ING? It's an online savings account. You link it to your B&M checking account and can transfer money between the two. The reason it is so great is because it has a much higher interest rate than regular bank savings accounts. Also you get $25 just for signing up if one of us emails you an invite, so let us know if you want in on the fun! There is no minimum to start the account with, it could be $1!!

crystal - this may be another stupid question, but can I have an ING savings account in addition to my current savings account? The only reason I want to keep my current crappy savings is because it's linked directly to my checking account and provides me w/overdraft protection in case I ever need it - or could ING do that for me too?

gingembre1 · Kate Spade

Tee hee, I know...You have to love ING.

Edited: My company works with HSBC, and I know this is on the corporate level, but we just had an AWFUL experience with them. Basically, we had to get one of the biggest law firms in Dubai to mediate and put pressure on HSBC to return documents that should have been returned 2 months ago, but they wouldn't answer e-mails, phone calls, requests from our bank, etc. That's my experience with HSBC, and it makes me wary of giving them my money.

-- Edited by gingembre1 at 14:25, 2005-09-27

crystal · Kate Spade

shopchicago33 wrote:

crystal - this may be another stupid question, but can I have an ING savings account in addition to my current savings account? The only reason I want to keep my current crappy savings is because it's linked directly to my checking account and provides me w/overdraft protection in case I ever need it - or could ING do that for me too?

You can have as many savings accounts as you like, whether B&M or online or both. However, since you have to authorize transfers from or to your ING account, you cannot do automatic overdraft protection from it. Does your bank extend a line of credit for overdraft purposes? That's what I have so if I overdraft I get charged interest (like a credit card), but I almost never have to use it. Also that way I don't have to leave my money in a low interest account. If you need an invite or more info, let me know!

lsubatgirl · Gucci

Yay!! I love ING. I'm such a dork but I get excited everytime I see those emails in my inbox.

member · Hermes

crystal wrote:

shopchicago33 wrote: crystal - this may be another stupid question, but can I have an ING savings account in addition to my current savings account? The only reason I want to keep my current crappy savings is because it's linked directly to my checking account and provides me w/overdraft protection in case I ever need it - or could ING do that for me too? You can have as many savings accounts as you like, whether B&M or online or both. However, since you have to authorize transfers from or to your ING account, you cannot do automatic overdraft protection from it. Does your bank extend a line of credit for overdraft purposes? That's what I have so if I overdraft I get charged interest (like a credit card), but I almost never have to use it. Also that way I don't have to leave my money in a low interest account. If you need an invite or more info, let me know!

No,I think if I'm overdrawn, they just take the money out of my savings to cover and then charge me like a $6 fee. Could I just leave the money I have in my savings now and then open a new ING account? Ok, I just realized that's the dumbest ? ever - why couldn't I - LOL. Can you send me an email w/an invite crystal? My email is in my profile, or pm me. Thanks!

crystal · Kate Spade

shopchicago33 wrote:

Can you send me an email w/an invite crystal? My email is in my profile, or pm me. Thanks!

You've got mail! BTW, you are so funny...

member · Hermes

crystal wrote:

shopchicago33 wrote: Can you send me an email w/an invite crystal? My email is in my profile, or pm me. Thanks! You've got mail! BTW, you are so funny...

LOL thanks Crystal..more like I'm lil bit of an airhead today

lynnie · Chanel

i have an ING and i love it- but i also have my paypal for ebay- that makes 3.50%. I usually have some money in that one too.

Deuce · Dooney & Bourke

I have been meaning to set this up. I actually work in a bank and for me the accesability of the funds while I am there is baaadddd.
Could you drop me the email too when you get a chance. Thanks

lynnie · Chanel

Deuce wrote:

I have been meaning to set this up. I actually work in a bank and for me the accesability of the funds while I am there is baaadddd.
Could you drop me the email too when you get a chance. Thanks

Can I send you a referral email if you don't have one yet? I haven't done any yet