£110 earned before interest even kicks in! (ING Direct)

Member Name: lilmissmup

Product:	ING Direct
Date:	24/05/09 (51 review reads)
Rating:

Advantages: Referral opportunities, Easy access to savings

Disadvantages: Have to have internet to use.

Last year I was lucky enough to clear my debts and start on the journey to save for my first home so I was looking for a new savings account.

You have probably been living under a rock if you haven't heard of ING Direct before today, they frequently advertise on the television and before I joined the bank I was getting promotional leaflets through my door asking me to join them.

I actually joined the bank through a referral I found on the site Moneysavingexpert, just for joining up I would receive £25 from ING and a great interest rate of 6.25%, the person that kindly referred me also gave me £10 out of the £25 he had got from ING so how could I not join?

All I had to do was sign up with the website and send them an opening deposit of a minimum of £1 and they opened up the account for me in around 2 weeks.

I was sent out 3 letters upon joining, one to confirm I had set up a DD to transfer savings into my current account and one with my customer number and then another a few days later with my pin but I didn't have to sign anything and send it back which made things easier for me.

To access your savings you need to use the internet so if you don't have regular access this is not the best account for you.

To login you provide them with your customer number and surname and the next screen provides you with a keypad which you have to click on to enter your pin and password, this is a safer method than using the keyboard as prevents software that picks up what keys you are pressing but it did take me a while to remember all the numbers!

Recently I had another letter from ING offering me £75 for referring 3 friends which I successfully did so I have earned £110 from the site even before interest, they are well known for being good at referrals.

I had the money from referring my friends within 2 weeks as well which I was really impressed with.

The only negative I have is that unfortunately due to the credit crunch my interest rate has now dropped to 2.75% but this is still a good rate compared to a lot of other banks out there right now.

If your going to join have a look around on the money sites and see if anyone wants to refer you and help them and you!

Summary: A good savings account