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ING Direct Orange Saving Account - Can I transfer funds back and forth to my regular bank savings account?

  • I was looking to invest a large sum of money with ING Direct online bank. If I do that and I happen to need money, can I transfer funds out of my ING account into my regular banks savings account. How hard is it, and how long does it take to receive funds. Any help would be greatly appreciated. Thank You

  • Answer:

    You've gotten some good answers already. The ING Direct phone number is 1-800-ING-DIRECT; they should be able to answer any other questions you may have about how it works. Here's a link describing their savings accounts: http://home.ingdirect.com/products/products.asp?s=OrangeSavingsAccount It's easy to transfer money between banks. It does take a few days for deposits and transfers to process. You can compare banks and accounts at http://www.bankrate.com/

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I have an Orange savings account. It's great. You can transfer money easily back and forth from your checking account. It takes 2 to 3 days to clear when I transfer funds from Ing to my Washington Mutual account. It's never taken more than 3 days in the 30 or so times I have transferred money. When you transfer money to your Orange savings account, they freeze that deposit for about 5 days... Meaning you can't transfer that deposit amount for 5 days. I believe you earn interest during that time. I highly recommend this account.

MikeeyMan

Yes you can. My personal experience with them for several years is that you look at 3-5 business days for the transfer. I have not had what I would call "large sums," so if you mean things like $5K or more, you should call their number and ask them if there is a delay once you start getting up there.

heyteach

ING Direct is a great bank. Some of the highest interest rates you can find. Typically takes 3-4 days to transfer at least with my experience. And they have no minimum. Good luck!

David M

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