Direct Deposit to ING Direct

cube_rat · 03-03-2006, 11:05 AM

I've been toying with the idea of having my paychecks direct deposited into my ING account instead of Washington Mutual. I would transfer chunks of money from ING to WAMU only to pay bills. I want to maximize my float as much as I can. I don't think there's a restriction on the amount of transfers to and from ING. Anyone here do something similar to what I'm proposing?

maddythebeagle · 03-03-2006, 11:34 AM

Savings and money market accounts have restrictions of 6 withdrawals per month.

I direct deposit into my regular checking and pay bills and send payments to my investment accounts and then move money to HSBC or ING.

cube_rat · 03-03-2006, 11:36 AM

Oh darn, I didn't think there would be restrictions. Thanks Maddy

Calgary_Girl · 03-03-2006, 12:34 PM

Quote:

Originally Posted by The Beagle Formerly Known as Maddy

Savings and money market accounts have restrictions of 6 withdrawals per month.

I have an ING account in Canada and there are no restrictions on the number of withdrawals. I don't know anything about the their U.S. accounts so Maddy could be right.

maddythebeagle · 03-03-2006, 12:56 PM

Details About the Orange Savings Account ("OSA"):

Limits on Withdrawals/Transfers from Your OSA: Pursuant to Federal law, you're only allowed to take money out of your OSA 6 times per monthly statement cycle ("Cycle"). If you repeatedly make more than 6 withdrawals during a Cycle, we may close your account.

- this is regulation D and apparently, dont have in canada

My credit union sends me a friendly reminder when I get to 5 withdrawals on my savings account. Some banks will even charge you a fee if you go over 6.

MJ · 03-03-2006, 04:12 PM

Through PFCU, I created 6 CD's pulling my funds from Emigrant Direct using ACH. I didn't realize that Emigrant would treat them as individual ACH withdrawals. By the end of the month, I had made a total of 11 withdrawals.
The following month I got a boilerplate letter from Emigrant threatening to take me out me if I did it again.

MJ

maggieddd · 03-06-2006, 08:25 PM

OK, so how do you make a direct deposit to your ING account? Anyone know?

cute fuzzy bunny · 03-06-2006, 10:10 PM

Click on the savings account you want direct deposit to, you'll see a link for 'direct deposit form'. That has the info your payroll processor needs to DD to your ing account.

03-03-2006, 11:05 AM	#1
cube_rat Thinks s/he gets paid by the post Join Date: Jul 2005 Posts: 1,466	Direct Deposit to ING Direct I've been toying with the idea of having my paychecks direct deposited into my ING account instead of Washington Mutual. I would transfer chunks of money from ING to WAMU only to pay bills. I want to maximize my float as much as I can. I don't think there's a restriction on the amount of transfers to and from ING. Anyone here do something similar to what I'm proposing? __________________ fuzzy? cute?

03-03-2006, 11:34 AM	#2
maddythebeagle Thinks s/he gets paid by the post Join Date: Jun 2005 Posts: 2,439	Re: Direct Deposit to ING Direct Savings and money market accounts have restrictions of 6 withdrawals per month. I direct deposit into my regular checking and pay bills and send payments to my investment accounts and then move money to HSBC or ING. __________________ - Hurry! to the cliffs of insanity!

03-03-2006, 11:36 AM	#3
cube_rat Thinks s/he gets paid by the post Join Date: Jul 2005 Posts: 1,466	Re: Direct Deposit to ING Direct Oh darn, I didn't think there would be restrictions. Thanks Maddy __________________ fuzzy? cute?

03-03-2006, 12:56 PM	#5
maddythebeagle Thinks s/he gets paid by the post Join Date: Jun 2005 Posts: 2,439	Re: Direct Deposit to ING Direct Details About the Orange Savings Account ("OSA"): Limits on Withdrawals/Transfers from Your OSA: Pursuant to Federal law, you're only allowed to take money out of your OSA 6 times per monthly statement cycle ("Cycle"). If you repeatedly make more than 6 withdrawals during a Cycle, we may close your account. - this is regulation D and apparently, dont have in canada My credit union sends me a friendly reminder when I get to 5 withdrawals on my savings account. Some banks will even charge you a fee if you go over 6. __________________ - Hurry! to the cliffs of insanity!

03-03-2006, 04:12 PM	#6
MJ Thinks s/he gets paid by the post Join Date: Mar 2004 Posts: 1,995	Re: Direct Deposit to ING Direct Through PFCU, I created 6 CD's pulling my funds from Emigrant Direct using ACH. I didn't realize that Emigrant would treat them as individual ACH withdrawals. By the end of the month, I had made a total of 11 withdrawals. The following month I got a boilerplate letter from Emigrant threatening to take me out me if I did it again. MJ __________________ I look to the present moment because that's where I live my life.

03-06-2006, 08:25 PM	#7
maggieddd Recycles dryer sheets Join Date: Nov 2005 Posts: 73	Re: Direct Deposit to ING Direct OK, so how do you make a direct deposit to your ING account? Anyone know?

03-06-2006, 10:10 PM	#8
cute fuzzy bunny Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Dec 2003 Location: Losing my whump Posts: 22,527	Re: Direct Deposit to ING Direct Click on the savings account you want direct deposit to, you'll see a link for 'direct deposit form'. That has the info your payroll processor needs to DD to your ing account. __________________ Many an optimist has become rich by buying out a pessimist

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