Add my comments too. In addition to competative interest rates, I suggested the ability to have accounts owned by a personal trust. Are there any other fans of "revokable living trusts" out there that would like their ING Direct account in their trust?

Anyone had a response from customerchampion@INGDirect.com?

it's not a lot if you consider your time is worth money.

you have spent time opening all those accounts, which detracts away from any potential value. and i don't care how much you have, it just ain't worth it.

unless you have millions, in which case i'd say get a life - go sit on a caribeean beach somewhere.

or, let's take a quick poll - how many of you here have millions to put into a savings account???

kaptainkitchen said:it's not a lot if you consider your time is worth money.

you have spent time opening all those accounts, which detracts away from any potential value. and i don't care how much you have, it just ain't worth it.

unless you have millions, in which case i'd say get a life - go sit on a caribeean beach somewhere.

or, let's take a quick poll - how many of you here have millions to put into a savings account???

if you have as much to save as your annual salary, then a 0.4 % increase would be worthwhile if you spend less than 8 hour achieving it. I opened wfb account with less than 30 minutes of investment.

manish22 said:kaptainkitchen said:it's not a lot if you consider your time is worth money.

you have spent time opening all those accounts, which detracts away from any potential value. and i don't care how much you have, it just ain't worth it.

unless you have millions, in which case i'd say get a life - go sit on a caribeean beach somewhere.

or, let's take a quick poll - how many of you here have millions to put into a savings account???

if you have as much to save as your annual salary, then a 0.4 % increase would be worthwhile if you spend less than 8 hour achieving it. I opened wfb account with less than 30 minutes of investment.

and the amount of time it takes to manage those accounts? like i said, you guys just don't get it. chasing rates on a savings account ain't gonna make you rich. taking your annual salary comparison, if you make 50k, you make a whopping $200 extra A YEAR. researching, opening, verifying they're legit, managing your transfers in/out, logging in to all those sites - it adds up to much more than 8 hours. say it takes 20 - you just made $10 an hour and sold all your personal info at the same time. Spend more time with your family.

kaptainkitchen said:let me rephrase your statement. handing over your personal information, which a financial institution will share, sell and/or lose is stupider than spending time to make 0.25% more on the 1 grand you got in your savings account.

oh, and by the way, ING doesn't do anything that i mentioned above with your personal info. all other banks do - read their privacy policies.

so it ain't all about the referrin

You almost had me agreeing with you over the privacy info part, but then again, most of your info is already out there from other avenues. Some banks do sell you out, but many don't, unlike the "all" you say. You just need to know their privacy policies. I only put ~$33k in presidential because of their tiered rates, and the rest stays more liquid in ING and other assets. I'll just forget about it for a year, then withdraw enough to stay below $35k, hardly any maintenance required for about $250 more interest than ING. You are forgetting the whole point of fatwallet if you don't want to make any extra buck where ever you can. To most people here, the small effort is worth the difference. No one said they do this to get rich. And what's with all your "loser" name calling? Only real losers spend time looking up threads to call other people losers.

Also, here is a quote from presidential's (0.75% higher than ING) privacy policy:

3. Use, Collection, and Retention of Customer Information
We collect, retain, and use information about you in order to conduct our business with you, satisfy legal reporting requirements, and administer our internal operations. We may routinely collect or retain information that includes your: (1) name, address, telephone number, social security number, annual income, current and past employers; (2) answers to questions on deposit and loan applications; and (3) deposit and loan balances, overdraft history and payment history with us. We collect information from consumer reporting agencies regarding credit and checking account histories.

We do not provide information to outside parties unless it is in direct support of your account activities. We do not sell our information to companies that offer other products and services. When we collect information about you, we do so only for a specific business purpose.

When you end your customer relationship with us, or when we end our customer relationship with you, we will treat the information we have about you as if you were still our customer.

kaptainkitchen said:why would you support a bank that isn't for everyone? I'd have to bet that the wanna-be savers that frequent this board don't have $5k to throw towards yet another account.

From Presidential

"Monthly Service Charge, if minimum balance is not maintained, Premier Savings $7.50"

Ouch. That's $90 a year, folks. Way to get the most out of those passive savings.

http://www.presidentialbank.com/feesched.htm

On the other hand the $35,000 I pulled away from ING that took all of 30 minutes to do will net me another $262 this year so I guess that’s equivalent to making $524 per hour.

This is a completely passive investment where liquidity is required so why would I not do so ?

Why would I support ING when with a few mouse clicks I can get a better return and still have time to spend with my family and tell my kids how to Maximize their savings.

People that only have $5 to throw in an account would be better served elsewhere and we are fortunate that there are banks that can provide that service.

seems like it worked..... they have increased it 0.15%

searched and searched before posting...! dont want the repost police come knocking...

cudnt believe no one posted it before... i wonder when they changed it...

Boiler said:Love said:So what do you suggest... Where should we put it?

Presidential 3.75% is better rate than ED and ING ...
hejustlaughs said:Presidential requires minimum $5000 balance. I don't think you should ever have that much money in a savings account earning only 3.75%. Make the most of your money, put it elsewhere where it'll work for you. I use INGDirect as a holding area for my salary and move money into my checking account at the end of every month or so to pay bills and whatnot.

I think he is talking about investment vehicle like mutual funds.
I guess it all depends on individual tolerance, I have stocks and mutual funds but I like to have a lot more than 5K in liquid cash for emergency.

I'm sorry for not responding in awhile. I've been busy. Anyways my personal preference is to put spending money and extra money in a PayPal account and turn on money market. Currently it's earning 3.22%. The only reason I do this is because:

1.) The PayPal debit card offers 1.5% CashBack(accepted wherever mastercard is). Combine this ontop of FW CashBack and you've got a even sweeter deal. I love it when you actually MAKE money on free AR deals(Minimal amounts though).
2.) Money goes in and out of my PayPal very often as I spend a lot of income. The 1.5% CashBack builds up pretty nicely.

I think PayPal is a better holding area for money that you'll use to pay for things. If you just want to leave an emergency fund somewhere then Presidential savings or anywhere else that offers a great rate is not a bad deal.

As for liquidity, I put my large amounts of cash for emergency in a variety of no-load index funds, then again, it's all about risk tolerance as Boiler said.