This is the first time I have heard of ED. I take it from your posting that they offer no referral bonus and there are some hidden fees. Is this true? If so, I am sticking with ING too.

But ING doesnot realize is that most of us have just $1 in our account...So how good is a 2 million customer base if most of us have just small amounts their account while the majority is sitting in ED earning better interest...

My Money will stay parked in ED until ED goes bankrupt of ING comes back with 3.1 %

amitkurich said:But ING doesnot realize is that most of us have just $1 in our account...

You don't think ING realizes how much money it's cusotmers keep in their accounts??

MarketVViz said:ING had the audacity to repeatedly run a new ad this month on Bloomberg radio stating that they have "THE HIGHEST RATE" in the country. Every time I heard the ad I got mad because I just moved my money from Ing to ED. Lo and behold, just last week they changed the ad, it no longer claims they have the highest rate (I wonder if they got a lot of complaints over false advertising?)

I like the ING site a lot, but the bottom line is the bottom line. I don't really get the people that aren't lazy enough to look for deals on fatwallet, but are too lazy to sign up for a better equivalent investment on their cash? If Ing or anyone else beats ED on insured money market rates I will jump over to them.

A little bit of laziness and a whole lot of distrust. If ED had a well established online presence, I would put a lot more fire behind me.

I use ING as a backup to my local checking account. So far they've been good....2 days transfer time. I don't know if I can get this with ED. The slight higher interest rate, netting $8 wouldn't begin to cover the cost of delays.

$1 left there because ING probably can close your account, after a period of time, if you don't have any money there.
$1 just to be safe I guess...

EDIT:
I checked out the terms and conditions,
"Closing an Account: You can close your account at any time, for any reason. We can close your account at any time, for any reason and without advance notice."

I guess leaving $0 in there gives them more reason to close your account than if you had $1 there

tooshy said:MarketVViz said:ING had the audacity to repeatedly run a new ad this month on Bloomberg radio stating that they have "THE HIGHEST RATE" in the country. Every time I heard the ad I got mad because I just moved my money from Ing to ED. Lo and behold, just last week they changed the ad, it no longer claims they have the highest rate (I wonder if they got a lot of complaints over false advertising?)

I like the ING site a lot, but the bottom line is the bottom line. I don't really get the people that aren't lazy enough to look for deals on fatwallet, but are too lazy to sign up for a better equivalent investment on their cash? If Ing or anyone else beats ED on insured money market rates I will jump over to them.

A little bit of laziness and a whole lot of distrust. If ED had a well established online presence, I would put a lot more fire behind me.

I use ING as a backup to my local checking account. So far they've been good....2 days transfer time. I don't know if I can get this with ED. The slight higher interest rate, netting $8 wouldn't begin to cover the cost of delays.

Ditto. Same reason I keep my balance at ING.

glockophile said:I feel a little bit better with my decision to move to ED. Their customer service is horrendous, but at least their rate shows they want my business, if nothing else.

Isn't that a little like saying, "I hate the taste of McD**ald's but it's cheap and it fills me up."

sinik said:FWIW, my transfers with ED have been much faster than with ING. The last two transfers out of ED into my checking account have all posted the day after and then cleared the next.

Same here. Posted on ED a day of my request.

I think so. ED is probably aware that ING has more recognition than them, so if they want to keep seeing an influx of money, they have to have a better rate than ING to overcome the fact that they're not well established.

isevenl said:Didnt know I would also receive a math lesson today, thanks to all those people who are revealing that 3.0 is indeed higher than 2.60! Im gonna go spread the word!gtfo