I remember a time about 5 years when ING had really competitive rates, and were at one time offering the highest interest rates for an online savings account. Not anymore...and as a matter of fact, not in the past couple of years.

When the fed lowers interest rates, ING Direct is one of the first to implement the changes immediately. It really just aggravates me!

I always liked ING for several reasons:

1. ease of navigation on the website
2. fairly rapid external transfers (1-2 days for my CU linked account)
3. Electric Orange checking account available
4. separate savings or subcategories
available

Anyway, a few months ago I moved most of my savings to Provident Direct Bank, another online bank, due to the difference in interest rates. I am fairly pleased with that bank. External transfers are equally as fast and the website is user-friendly. I just need to find out if I can open several savings accounts so that I can divide out my savings to earmark them for different bills. Do anyone know if that is possible with this online bank?

It just seems like ING Direct doesn't want to try to compete with other online banks anymore. I usually now keep only about $50 in that account, but still have the majority of my bills deducted from the checking account--Electric Orange--at ING. I just transfer money from Provident Bank close to the due dates for my bills a couple of times each month. I don't let money sitting in that account either since the interest rates are so poor.