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Bank Simple vs. ING Direct (andysparks.co)
8 points by SparksZilla 1931 days ago | hide | past | web | favorite | 8 comments

You can use a username on ING. Its called "Saver ID." See it listed right next to customer number on the login page?

I guess I 'kind of' knew that, but always figured it was going to take more work to set one up. That's me just being plain lazy and not ING's fault. Thanks for pointing this out.

What about rates?

ING Direct USA: Savings: 0.30% APY Checking: 0.90% APY

Simple (via Bancorp) Savings: 0.30% APY Checking: 0.01% APY

Also, due to the acquisition of ING Direct USA by Capital One, the ING Direct logo and branding will expire in February, 2013. I bet we'll see new a UI/UX soon.

Awesome points. I've noticed the Capital One logo at the bottom of the ING Direct page, so I hope you're right re: new UI/UX.

As for rates, does your checking account's interest rate ever really help you make a decision? Personally it doesn't, but would be curious to hear what others have to say.

Would I make a bank decision based on interest rates now? Not at all.

However, there was a time pre-2008 where one could get 2-3% with ING direct compared to less than 50bps elsewhere.

Since Bancorp's rate estimates are above, and Simple must be taking some spread - I'm curious if you would share rates at Simple.

Rates are the same as the estimate right now.

Nice comparison- and having been an ING Direct customer since 2004 immediately thought about Simple "Oh, it's a more pretty interfaced ING, with waaaaay less functionality"

Thanks! That's basically what it is, but I think ING should definitely be worried about what Simple is doing. If they steadily add features, ING could be in trouble.

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