ING Direct customers - need help

My husband and I have a savings account with ING and have been transferring money to that account from our Bank of America account for a year now.

I went to transfer some money today and this new thing came up on BOA's site about fees that they charge to transfer money to 'outside' institutions. Check this out:

---

3. Are there any special considerations I need to be aware of when transferring funds to or from accounts I own at other financial institutions?

Yes. Keep in mind that, like other transfers you make in Online Banking, these transfers are immediate and cannot be reversed. There are daily and monthly limits to the transactions, depending on the delivery type you choose. Additionally, you will be charged a fee for outbound transfers - $3.00 for three-business-day processing, $10.00 for next-day processing.

---

I have no love or loyalty to BOA. What I'd like to know is who you have your 'brick-and-mortar' checking accounts with and if they:

1. Charge to transfer money to ING
2. Charge any fees for checks, ATM transactions, or if your balance is below a certain amount.

I'm all about getting the best deal and BOA doesn't seem to be doing it for me at this point.

Any suggestions would be great. Thanks!

---

Posted by jerrys girl

I have Astoria and Commerce linked to Ing. I have easy checking with Astoria so no fees and Commerce so far has not charged a single fee. So no fees for both of these banks.

---

me too...check out another bank and see what you can arrange!

those fees sound like wire transfer fees.

Technically, when you are transferring from BOA to ING its really an ACH debit/credit, which is usually free at banks.

I would switch from BOA to antother bank.

Commerce definitely doesnt charge for the ING transfer!

What about trying to have ING take the money from your account? That way you don't have to transfer banks.

I don't know if they do that but it's worth looking into before you start closing accounts.

---

Posted by MnM52607

What about trying to have ING take the money from your account? That way you don't have to transfer banks.

I don't know if they do that but it's worth looking into before you start closing accounts.

---

this is correct. have ing pull the money from your boa account rather than having boa push the money to ing. this is how i've been doing it with ing.

it's also good to do it this way b/c if you originate from boa, you will get the debit to your boa immediately but not the credit to your ing immediately. so in the interim, you won't have the credit anywhere officially (like when you pay your cc).

if you initiate it from ing, then you will immediately get a pending credit from ing whether or not you see the debit immediately at boa. this way, you will always have a credit for that money in the interim clearing period.

That is a really great point! I never thought that it would be different doing it the other way around... I'll have to try it tonight from ING. That's the way I've always done it, I just happened to look at my BOA account today.

Thanks everyone!!

---

Posted by Meaghan729

those fees sound like wire transfer fees.

Technically, when you are transferring from BOA to ING its really an ACH debit/credit, which is usually free at banks.

I would switch from BOA to antother bank.

Commerce definitely doesnt charge for the ING transfer!

---

I agree with Meaghan. The transfer to ING should be like if you are paying a bill.

Commerce is a great bank if you are still looking to change!

i go from New York Community Bank ( or Queens community bank whatever they call it now) and dont get charged

BUT like everyone else is mentioning i do it from ING - i didnt even know you could do it another way

I misread it - it you are initiating the transfer FROM BOA to ING then you will be charged, because its a wire transfer.

Do the transfer FROM ING to BOA. Then BOA wont charge you (well they shouldnt)

---

Posted by greenfreak

My husband and I have a savings account with ING and have been transferring money to that account from our Bank of America account for a year now.

I went to transfer some money today and this new thing came up on BOA's site about fees that they charge to transfer money to 'outside' institutions. Check this out:

---

3. Are there any special considerations I need to be aware of when transferring funds to or from accounts I own at other financial institutions?

Yes. Keep in mind that, like other transfers you make in Online Banking, these transfers are immediate and cannot be reversed. There are daily and monthly limits to the transactions, depending on the delivery type you choose. Additionally, you will be charged a fee for outbound transfers - $3.00 for three-business-day processing, $10.00 for next-day processing.

---

I have no love or loyalty to BOA. What I'd like to know is who you have your 'brick-and-mortar' checking accounts with and if they:

1. Charge to transfer money to ING
2. Charge any fees for checks, ATM transactions, or if your balance is below a certain amount.

I'm all about getting the best deal and BOA doesn't seem to be doing it for me at this point.

Any suggestions would be great. Thanks!

---

My bro has an ING account and Citibank is his brick-and-mortar - they don't charge any transfer fees.

chase

everything is free free free

I'm with Astoria Federal and I'm not aware of any charges...
sorry to hear that

HUGE fan of Commerce Bank myself.

We have joint checking there - and no for checks, etc.

But the REALLY exctiing part (in my mind) is that we're not charged fees for using other ATMs. The refund them at the end of every month, because we keep our account up to a certain amount.

So i NEVER have to worry about Commerce or any other bank charging me fees for accessing my own money.

The way it should be quite frankly.