ING Direct
 

I am interested in opening an ING Direct account to earn interest on my bankroll. I have a couple of questions though.

1. can you link one ING Direct account to both your B+M bank and neteller? I would like to be able to move money to and from neteller and also be able to withdraw funds from my ING account to my B+M account. I assume there is no problem with this.

2. Does ING allow sub accounts. I would like to have both my bankroll and my regulat savings in an ING account, but would like to be able to keep the two seperate. Do I need to open two seperate accounts?

3. Can you use instacash to deposit from your ING account?

4. Do most ING users only keep a couple of buyins online and the rest in your ING account to earn interest? If so how often do you withdraw your winnings into ING? Daily, Weekly, or Monthly?

Thanks for you help.

Re: ING Direct
 

[ QUOTE ]
I am interested in opening an ING Direct account to earn interest on my bankroll. I have a couple of questions though.

1. can you link one ING Direct account to both your B+M bank and neteller? I would like to be able to move money to and from neteller and also be able to withdraw funds from my ING account to my B+M account. I assume there is no problem with this.

2. Does ING allow sub accounts. I would like to have both my bankroll and my regulat savings in an ING account, but would like to be able to keep the two seperate. Do I need to open two seperate accounts?

3. Can you use instacash to deposit from your ING account?

4. Do most ING users only keep a couple of buyins online and the rest in your ING account to earn interest? If so how often do you withdraw your winnings into ING? Daily, Weekly, or Monthly?

Thanks for you help.

[/ QUOTE ]

1. Yes you can do this, I have the same setup. You actually are required to link your ING account to a B&M bank checking account. Linking to Neteller is easy, you can find the routing number needed to link up on your account page.

2. No idea if that option is available.

3. I haven't tried it but I don't see any idea why you couldn't.

4. It fluctuates when I have money. I've been withdrawing my ING money to pay for for regular bills so I usually don't even have a balance [img]/images/graemlins/frown.gif[/img] They do limit the number of withdrawls from your ING account per month though I'm not sure of the exact amount.

Re: ING Direct
 

Just FYI, ING's rate is 3.75%, while EmigrantDirect's is 4%. However, if you sleuth around the net, you can find a $50 bonus from ING (hint: TaxCut Direct), and even the normal bonus is $25. I'd recommend opening an ING account with the minimum required to qualify for the bonus, and putting the rest in Emigrant. Although .25% hardly makes a big difference [img]/images/graemlins/laugh.gif[/img]

Re: ING Direct
 

As to number 2, I THINK you can setup different sub-accounts. For example you can have a "Savings" section and a "Bankroll" section. I have never done it though. I use ING direct and love it. Emigrant's rate is always higher. However, when looking into an on-line savings I read the Emigrant was more difficult to setup, I never did though so I don't know if that is still true.

Re: ING Direct
 

I have several sub accounts.

Re: ING Direct
 

Deathbear, I just opened an ING Direct account and yes, they required me to link this account to a B&M bank, but when I tried to link my Neteller account their website and their phone support tell me that any additional account has to be linked using a void $0 check from that additional account. Neteller doesn't do checks do they? Did something change recently at ING Direct. I don't see a way of connecting a Neteller account to ING Direct.

Re: ING Direct
 

While we're on the topic, I've heard you can link your ING account to IGM-PAY -- what are you supposed to use for the routing number? Do you just use your account number and make up some check number?

Re: ING Direct
 

from a quick google search it looks like

Routing Number: 031176110

you might wanna verify it by contacting customer support. I'm sure they could tell you.

Re: ING Direct
 

I wonder if ING or a similar solution is available for European players.

Re: ING Direct
 

[ QUOTE ]
Deathbear, I just opened an ING Direct account and yes, they required me to link this account to a B&M bank, but when I tried to link my Neteller account their website and their phone support tell me that any additional account has to be linked using a void $0 check from that additional account. Neteller doesn't do checks do they? Did something change recently at ING Direct. I don't see a way of connecting a Neteller account to ING Direct.

[/ QUOTE ]

This is what has prevented me from doing this as well. From the ING website:

How do I add a link or delete a link?
To add a link, send us a personal check that is pre-printed with your name and address, made out for a deposit amount of at least $1.00. Write your Customer Number and the word "Link" on the memo line of the check. Keep in mind that the account you would like to link must be a checking account, not a brokerage or money market account. Voided or "starter" checks (checks without your personal information printed in the upper left corner) or check with the words "payable through" cannot be used.

Emigrant appears to be very similar with the following:

Can I have more than one checking account linked to my American Dream Savings Account?
At the present time, an individual may have 2 checking accounts linked to EmigrantDirect, including the checking account you used for your initial funding deposit. To add a second checking account you must mail in a check made out to EmigrantDirect for at least one dollar with your EmigrantDirect account number and the words “additional external account” on the Memo line. The name on the accounts must be the same. We can only accept your personal check as a second linked checking account.


Can anyone shed some light here or have we who are late to the ball game shut out?

Re: ING Direct
 

How often is your investment compounded? On emigrant's site it says 'compounded daily- credited monthly'

Does that mean your investment * (1.4^12 - 1) is what you would make in a year?

Re: ING Direct
 

[ QUOTE ]
How often is your investment compounded? On emigrant's site it says 'compounded daily- credited monthly'

Does that mean your investment * (1.4^12 - 1) is what you would make in a year?

[/ QUOTE ]

The numbers quoted are APY's. So don't even worry about this, you are earning 4.0% after compounding is calculated.

Re: ING Direct
 

Actually you can get it off their website.

I think it's on the account view page but there is a link to the Direct Deposit Form which gives you all the numbers you need to link it up to IGM...

Re: ING Direct
 

[ QUOTE ]
[ QUOTE ]
How often is your investment compounded? On emigrant's site it says 'compounded daily- credited monthly'

Does that mean your investment * (1.4^12 - 1) is what you would make in a year?

[/ QUOTE ]

The numbers quoted are APY's. So don't even worry about this, you are earning 4.0% after compounding is calculated.

[/ QUOTE ]

Could you give an example? I don't really understand this crap and I want to know if it's even worth the effort (if I even had money [img]/images/graemlins/smile.gif[/img])

Is there a formula so I can plug in like $x and see how much I would make in a year off the interest?

Re: ING Direct
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
How often is your investment compounded? On emigrant's site it says 'compounded daily- credited monthly'

Does that mean your investment * (1.4^12 - 1) is what you would make in a year?

[/ QUOTE ]

The numbers quoted are APY's. So don't even worry about this, you are earning 4.0% after compounding is calculated.

[/ QUOTE ]

Could you give an example? I don't really understand this crap and I want to know if it's even worth the effort (if I even had money [img]/images/graemlins/smile.gif[/img])

Is there a formula so I can plug in like $x and see how much I would make in a year off the interest?

[/ QUOTE ]

$x * .04 will show you what you would make in a year off the interest. Yes, it is that easy.

Re: ING Direct
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
How often is your investment compounded? On emigrant's site it says 'compounded daily- credited monthly'

Does that mean your investment * (1.4^12 - 1) is what you would make in a year?

[/ QUOTE ]

The numbers quoted are APY's. So don't even worry about this, you are earning 4.0% after compounding is calculated.

[/ QUOTE ]

Could you give an example? I don't really understand this crap and I want to know if it's even worth the effort (if I even had money [img]/images/graemlins/smile.gif[/img])

Is there a formula so I can plug in like $x and see how much I would make in a year off the interest?

[/ QUOTE ]

$x * 1.04 should do the trick for you.

[/ QUOTE ]

So, it's not actually compounded daily?

Re: ING Direct
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
How often is your investment compounded? On emigrant's site it says 'compounded daily- credited monthly'

Does that mean your investment * (1.4^12 - 1) is what you would make in a year?

[/ QUOTE ]

The numbers quoted are APY's. So don't even worry about this, you are earning 4.0% after compounding is calculated.

[/ QUOTE ]

Could you give an example? I don't really understand this crap and I want to know if it's even worth the effort (if I even had money [img]/images/graemlins/smile.gif[/img])

Is there a formula so I can plug in like $x and see how much I would make in a year off the interest?

[/ QUOTE ]

$x * 1.04 should do the trick for you.

[/ QUOTE ]

So, it's not actually compounded daily?

[/ QUOTE ]

Yes, it is compounded daily such that after one year you'll have earned 4%. APY stands for annual percentage yield.

Nice job catching me editing. [img]/images/graemlins/smile.gif[/img]

Re: ING Direct
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
How often is your investment compounded? On emigrant's site it says 'compounded daily- credited monthly'

Does that mean your investment * (1.4^12 - 1) is what you would make in a year?

[/ QUOTE ]

The numbers quoted are APY's. So don't even worry about this, you are earning 4.0% after compounding is calculated.

[/ QUOTE ]

Could you give an example? I don't really understand this crap and I want to know if it's even worth the effort (if I even had money [img]/images/graemlins/smile.gif[/img])

Is there a formula so I can plug in like $x and see how much I would make in a year off the interest?

[/ QUOTE ]

$x * 1.04 should do the trick for you.

[/ QUOTE ]

So, it's not actually compounded daily?

[/ QUOTE ]

Yes, it is compounded daily such that after one year you'll have earned 4%. APY stands for annual percentage yield.

Nice job catching me editing. [img]/images/graemlins/smile.gif[/img]

[/ QUOTE ]

Thanks. Just ruined my dreams of putting in 100k and living off the interest... [img]/images/graemlins/frown.gif[/img]

4% compounded monthly would be sooooo nice

Re: ING Direct
 

FYI: "Compounded Monthly" does not mean that you get that % each month. You only get 1/12 the quoted rate each month.

They give you a month's interest at a time, and then the next month you get interest on your initial amount plus the interest that's accumulated from previous months.

This contrasts with something like a 1 year CD, in which they give you the interest in one lump sum and you don't earn interest off that interest until the next year.

Re: ING Direct
 

[ QUOTE ]
[ QUOTE ]
Deathbear, I just opened an ING Direct account and yes, they required me to link this account to a B&M bank, but when I tried to link my Neteller account their website and their phone support tell me that any additional account has to be linked using a void $0 check from that additional account. Neteller doesn't do checks do they? Did something change recently at ING Direct. I don't see a way of connecting a Neteller account to ING Direct.

[/ QUOTE ]

This is what has prevented me from doing this as well.

[/ QUOTE ]

You have to link the accounts from NETELLER's side...then when you want to transfer money in or out, you initiate the transaction from Netelleras well.

Acme

Re: ING Direct
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
Deathbear, I just opened an ING Direct account and yes, they required me to link this account to a B&M bank, but when I tried to link my Neteller account their website and their phone support tell me that any additional account has to be linked using a void $0 check from that additional account. Neteller doesn't do checks do they? Did something change recently at ING Direct. I don't see a way of connecting a Neteller account to ING Direct.

[/ QUOTE ]

This is what has prevented me from doing this as well.

[/ QUOTE ]

You have to link the accounts from NETELLER's side...then when you want to transfer money in or out, you initiate the transaction from Netelleras well.

Acme

[/ QUOTE ]

I spoke with Neteller and they said that they can link only one external account to my Neteller account at a time. They said I cannot connect my B&M account AND internet savings account, (like INGDirect) to my Neteller account at the same time. Does anyone have a Neteller account with more than one bank account linked to it? When I use their transaction web pages to withdraw or deposit money into Neteller, the bank account field is a drop down list box that lists only my B&M bank account. The fact that it's a drop down list box makes me believe they designed it for multiple external accounts. Maybe other Neteller uses have this "privelege".

If Neteller and ING Direct savings account can't provide easy movement of money from a interest bearing account (at money-market rates) to the popular poker sites as well as my bill-paying checking accounts, then what are the alternatives? Any ideas?

Carpe_Chipem
"sieze the chips"

Re: ING Direct
 

I decided to look into this just recently as I hate not earning interest on that portion of the roll that doesn't need to be on a site nor within a few days of a site. I contacted Neteller support to ask if I could (1) link a second bank account, and (2) link a savings (rather than checking account). Neteller responded that (1) only one linked account was permitted, and (2) savings accounts are no good because their third-party processor cannot complete the transactions.

Answer number (2) seems odd - I presume others have linked ING or ED accounts to Neteller?

Anyway, it looks like I'll have to move money Neteller -> Checking -> Savings and back again if needed.

Re: ING Direct
 

Word of warning, the deposit lag is 5 business days. On my initial deposit, it was 10 business days, which caused problems at Party... blech.

Re: ING Direct
 

kind of related to this...
I live in the UK, and currently keep most of my roll in neteller (account in $).
I'm thinking it would now be much easier for me to bypass neteller, and just set up an ING account linked to my bank. When I want to withdraw money, I just move it to party (via neteller) and then cash out from party to my bank (they seem to offer a better rate for this than cashing out via neteller).
I then move it to ING when it comes in to my bank.
When I want to deposit money back, I can do this via my bank card, and move the same amount from ING to my bank.

Couple of questions:
*) is party gonna be pissed about me depositing money from neteller (in $) then cashing it out via a different method (in £)? I do play on party quite a bit, but not 100% and the other sites I play on will only let me cash out to neteller.

*) obviously I'm gonna lose a bit on the exchange rate when moving money in and out, however I can't see any way to avoid this and at least it will be earning interest with ING which should more than make up for that.
If I keep a decent amount on sites/neteller (say 200-300bb for the limit I'm playing) and have the rest in the ING account, I should only need to redeposit infrequently if at all.

any thoughts on this?
anyone in a similar kind of position?

Re: ING Direct
 

[ QUOTE ]
I am interested in opening an ING Direct account to earn interest on my bankroll. I have a couple of questions though.

1. can you link one ING Direct account to both your B+M bank and neteller? I would like to be able to move money to and from neteller and also be able to withdraw funds from my ING account to my B+M account. I assume there is no problem with this.

2. Does ING allow sub accounts. I would like to have both my bankroll and my regulat savings in an ING account, but would like to be able to keep the two seperate. Do I need to open two seperate accounts?

3. Can you use instacash to deposit from your ING account?

4. Do most ING users only keep a couple of buyins online and the rest in your ING account to earn interest? If so how often do you withdraw your winnings into ING? Daily, Weekly, or Monthly?

Thanks for you help.

[/ QUOTE ]

Did you ever think of trying PayPal?

Paypal's yield is currently at 4.20

Here is the big bonus. Get a PayPal Debit card and get 1.5 percent back on purchases!

The downside is the it takes 5 business days for the money to arrive into the account but if you keep an extra dime or two in their this should be a problem.

Re: ING Direct
 

[ QUOTE ]
Neteller responded that (1) only one linked account was permitted, and (2) savings accounts are no good because their third-party processor cannot complete the transactions.

[/ QUOTE ]

Answer 2 is total BS. The issue is that most people cannot find the direct deposit information for a savings account. If you have this information, you can make a savings account (ala ING) your linked account. To get this, log into your ING account, click on the desired account and click something like "Show Direct Deposit Information for this Account."

With the number(s) from that link, you can set up ING as your linked account for Neteller.

Acme

Re: ING Direct
 

[ QUOTE ]
I spoke with Neteller and they said that they can link only one external account to my Neteller account at a time. They said I cannot connect my B&M account AND internet savings account, (like INGDirect) to my Neteller account at the same time.

[/ QUOTE ]

All correct.


[ QUOTE ]
Does anyone have a Neteller account with more than one bank account linked to it?

[/ QUOTE ]

Not to my knowledge



[ QUOTE ]
If Neteller and ING Direct savings account can't provide easy movement of money from a interest bearing account (at money-market rates) to the popular poker sites as well as my bill-paying checking accounts, then what are the alternatives? Any ideas?

[/ QUOTE ]

Neteller --> ING --> Checking Account
Checking Account --> ING --> Neteller

With this system, the bulk of your roll should be on ING at any given time. You will have enough at Neteller to take care of "normal" movement -- i.e. to take advantage of any bonuses. Aside from taking advantage of bonuses, your whole roll will either be at a site or in ING. Then when you want to take some money out of your roll, you just pull it from ING to your checking account.

Acme

Re: ING Direct
 

[ QUOTE ]


Neteller --> ING --> Checking Account
Checking Account --> ING --> Neteller

With this system, the bulk of your roll should be on ING at any given time. You will have enough at Neteller to take care of "normal" movement -- i.e. to take advantage of any bonuses. Aside from taking advantage of bonuses, your whole roll will either be at a site or in ING. Then when you want to take some money out of your roll, you just pull it from ING to your checking account.

Acme

[/ QUOTE ]

This is what I would like to do, but already have a checking account linked to my Neteller. I would assume that it is no problem to have Neteller change the account that is linked. Is that true or is it a hastle?

Re: ING Direct
 

[ QUOTE ]
[ QUOTE ]


Neteller --> ING --> Checking Account
Checking Account --> ING --> Neteller

With this system, the bulk of your roll should be on ING at any given time. You will have enough at Neteller to take care of "normal" movement -- i.e. to take advantage of any bonuses. Aside from taking advantage of bonuses, your whole roll will either be at a site or in ING. Then when you want to take some money out of your roll, you just pull it from ING to your checking account.

Acme

[/ QUOTE ]

This is what I would like to do, but already have a checking account linked to my Neteller. I would assume that it is no problem to have Neteller change the account that is linked. Is that true or is it a hastle?

[/ QUOTE ]

I never linked a checking account prior to linking my ING account, so I cannot say for certain. But I don't think it is a big deal. The only negative is that once you remove a linked account, that account can never be linked to Neteller again (at least I think I have read that before).

Acme

Re: ING Direct
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]


Neteller --> ING --> Checking Account
Checking Account --> ING --> Neteller

With this system, the bulk of your roll should be on ING at any given time. You will have enough at Neteller to take care of "normal" movement -- i.e. to take advantage of any bonuses. Aside from taking advantage of bonuses, your whole roll will either be at a site or in ING. Then when you want to take some money out of your roll, you just pull it from ING to your checking account.

Acme

[/ QUOTE ]

This is what I would like to do, but already have a checking account linked to my Neteller. I would assume that it is no problem to have Neteller change the account that is linked. Is that true or is it a hastle?

[/ QUOTE ]

I never linked a checking account prior to linking my ING account, so I cannot say for certain. But I don't think it is a big deal. The only negative is that once you remove a linked account, that account can never be linked to Neteller again (at least I think I have read that before).

Acme

[/ QUOTE ]

What you said matches what they told me on the phone when I did this a few months ago. You have to remove your current account from Neteller via a phone call to customer service. They erase it immediately, and then you can link a new one.

Re: ING Direct
 

[ QUOTE ]
[ QUOTE ]


Neteller --> ING --> Checking Account
Checking Account --> ING --> Neteller

With this system, the bulk of your roll should be on ING at any given time. You will have enough at Neteller to take care of "normal" movement -- i.e. to take advantage of any bonuses. Aside from taking advantage of bonuses, your whole roll will either be at a site or in ING. Then when you want to take some money out of your roll, you just pull it from ING to your checking account.

Acme

[/ QUOTE ]

This is what I would like to do, but already have a checking account linked to my Neteller. I would assume that it is no problem to have Neteller change the account that is linked. Is that true or is it a hastle?

[/ QUOTE ]

I was told in my email that switching accounts needed no more than a call to CS (but you can't do it automatically from the website).

Re: ING Direct
 

[ QUOTE ]

What you said matches what they told me on the phone when I did this a few months ago. You have to remove your current account from Neteller via a phone call to customer service. They erase it immediately, and then you can link a new one.

[/ QUOTE ]

Thanks (you too Catt) - I'll give it a try.

Re: ING Direct
 

bump.

Has anyone here ever been able to link accounts so that you have 1) transferred money from Neteller to ING and/or 2)transferred money from ING to Neteller?

???

If so, how? The above process described makes sense except for the fact that one can only deposit very little into Neteller at one time without it taking 5 days to clear.(in my case I would be making 5-figure deposits)