Online Banking
Online Banking
Internet has become a substantial part of our lives, therefore there is nothing surprising about the fact that almost every reputable financial institution offers internet banking services to its account holders. The more the assortment, the harder it is to make a right choice of an institution to bank with. Online banking study conducted by ComScore some time ago revealed that ING Direct is one of the best internet banking platforms out there. Internet banking facility offered by the ING Direct bank landed in the top five financial institutions operating on the territory of the United States of America.
How the largest online banks stack up
Below rated seven of the largest online banks with a nationwide reach, evaluating four types of accounts—regular and money market savings, CDs, and checking. We chose accounts with the lowest balance requirements that did not require additional business with the bank. Fees and annual percentage yields were weighted most heavily, accounting for half the score. The other categories consisted of amenities, like mobile banking, and the ability to make transactions electronically.
| Rank | Bank | Score | Savings* (%) | Money market* (%) | Fee for low balance ($) | 1-yr. CD* (%) | Minimum ($) | Bill pay cost/mo. ($) |
|---|---|---|---|---|---|---|---|---|
| 1 | ING Direct |
80
|
1.50 | 0.25 | no | 1.50 | none | none |
| 2 | HSBC Direct |
78
|
1.65 | 0.20 | no | 2.30 | 1,000 | none |
| 3 | Citibank |
72
|
0.50 | 0.40 | 12 | 2.25 | 500 | none |
| 4 | CapitalOne |
61
|
1.01 | 1.50 | no | 0.75 | 5,000 | none |
| 5 | Bank of America |
61
|
0.20 | 0.65 | 15 | 1.26 | 1,000 | none |
| 6 | Chase |
58
|
0.01 | 0.01 | 12 | 0.25 | 1,000 | 4.95 |
| 7 | Wells Fargo |
50
|
0.05 | 0.05 | 10 | 0.95 | 2,500 | 6.95 |
*Annual percentage yield.
Source: CR Money Lab. Rates current as of April 30, 2009.
This article appeared in Consumer Reports Money Adviser.
Posted: July 2009 — Consumer Reports Money Adviser issue: July 2009
If you have multiple accounts with ING Direct bank, then you will able to view and manage them in one place without logging in every time you need to switch. There is also a combined summary of all your checking, savings, credit cards and other accounts available though ING Direct bank.
Such a combined summary gives you a precise image of your spending and earning making it a valuable tool in managing finances. A customer of ING Direct Online Banking can view details of transactions, payments, withdrawals, deposits, cleared checks with history kept for 90 days. Bank statements are also available online though the ING Direct Online Banking and can be downloaded to your PC. Images of cleared checks are also kept in the system and can be printed out any time you need checks’ details.
ING Direct bank facilitates lives of its customers offering them an efficient Bill Payment service. You should just put the details of an upcoming payment and it will be proceeded automatically within couple minutes. To make sure that the payment is effected successfully, you can also track your bills online.
Online Brokerage services included into ING DirectOnline Banking package allows you to launch an investment account. You can get research reports and stock quotes in real time to earn money on trading stocks. Funds held on your checking or savings account can be easily transferred to your investment account though the online route.
Most of the facilities provided by the ING Direct Online Banking platform are gratis, however some minor fees are required for specific services. Opening online banking account is easy and completely secure. ING Direct Online Banking guarantees that in case unauthorized access to your funds occurs, the bank is liable for all the losses. Just inform operators within 2 months that you experience a problem.
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Categories: Online Banking Tags: Banking, ING direct, Online