Sunday, November 14, 2010

I work all night, I work all day, to pay the bills I have to pa-ay.


I'm curious. Where do you bank? A national chain? A small-town friendly faced bank? A credit union?

We use ING for the majority of our banking. I love the ease of opening new savings accounts, and the free interest baring-checking account it quite nice as well. We tend to keep a low balance in our checking as we tackle mounds of debt from college, and yet we still manage to earn some free money every month.A friend worked for ING right after college, so I opened one of their Orange Checking accounts as a favor to her to help her meet her goal for work. I love it.

We also use Wells Fargo as our linked account (to use ING, you have to have a linked account from another back for transferring money and such.) I also have a credit union account that I never use, and may have a balance of around 34 cents, though I have no idea.

So what do you use and why? How do you separate your accounts? Do you have joint with a spouse/sig other? Do you have an e-fund? several different savings accounts? Share the deets.

7 comments:

  1. We use Wells Fargo, but your post made me curious about ING. I may have to look into that. We have a few different savings account, a joint checking account, and then each of us has a personal checking account with our "fun money" allowance.

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  2. It always takes me a while to come up with all of the places I have bank accounts. Keeping up with them all is important because the new banking law meant a lot of banks started charging monthly fees - the credit union started charging $5 a month so I dumped the fee based account with them. Now I check all statements so I don't find banks siphoning off my money. I use Wells & TCF. I've got a CD and another savings account at a credit union and the bulk of my cash savings at HSBC. I picked HSBC over ING because it had better interest rates (just a few years ago, it was 6%) and it offered an ATM card which gives me immediate access to the cash in that account if I need it, unlike most online savings accounts.

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  3. E, I couldn't stand that. It's now bugging me that I have that unused credit union account open, actually. We're still monthly fee free though.

    Kristi, I love ING. Our checking is linked to our savings, so a simple online or phone transfer and we can access the savings account money if we need it, with very little effort. But the extra step makes us think twice about using our savings accounts for things. I highly recommend it. It's easy to open special accounts for saving something too, like a vacation, or a camera or something.

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  4. I've been with a credit union since I was 18, DH and I opened our joint account there as well. We're going to switch to a local, chain bank.

    I've thought about opening an account with ING but I haven't really checked it out because we don't have any sort of large balance to put away, so I don't know if we would gain anything.

    We are working hard to pay down our debt and start an efund. We currently do not have an efund. We have been very fortunate to have not been affected by any layoffs, but I'm not proud of the fact that we don't have anything for an emergency.

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  5. I use my credit union for checking, but have other online accounts (ING is all my "short-term" accounts--car insurance and stuff; other banks for my long-term savings like the efund).

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  6. Checking, Savings, CDs, mortgage originations and personal loans have all been with the same regional bank. My dad's a VP though, so the choice is kind of automatic.

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  7. I love ING. I have so many subaccounts it's ridiculous. We use an evil national chain for our checking, but just out of convenience and because it's free.

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