ING or PC?

[kreek]

I have a small amount of money around $4,000 and I want to invest it in an account I can add small amounts of money to. I won't be pulling from it or so I hope I won't be. I'm still thinking whether I go with PC or ING, I'm not too sure. If there is any other way I can do this please do share...Thanks in advance to all your reply's

[jeeva86]

Comparing PC and ING, ING has the higher interest rate, so open a savings account and link it to a chequeing(sp?) account.

[Hellfire]

Comparing PC and ING, ING has the higher interest rate, so open a savings account and link it to a chequeing(sp?) account.

ING = 3.5%
PCF = 4.0%

How is ING higher?

[felinusz]

ING has 4.25% untill the end of August.

It is 'artificial' though, because it is only applied to new deposits, not to existing balances.

That said, if you open your account now, all your deposits will get 4.25%.



After August, they will likely raise their rates; but by how much is open to speculation. :o

[advantage21]

I have a small amount of money around $4,000 and I want to invest it in an account I can add small amounts of money to. I won't be pulling from it or so I hope I won't be. I'm still thinking whether I go with PC or ING, I'm not too sure. If there is any other way I can do this please do share...Thanks in advance to all your reply's

Why don't you open both accounts and then link them up so you can transfer your money back and forth depending on which bank has the highest interest rates. And you get the $13 bonus at ING too.

[J_u_n_i_o_r_3]

Why don't you open both accounts and then link them up so you can transfer your money back and forth depending on which bank has the highest interest rates. And you get the $13 bonus at ING too.

+1

If you need ing referal pm

[me2]

I would suggest PC.
My reason.....u get CIBC/PC atm machines at ur disposal.
Also, u get a better rate.
I dont knw if ING is online based bank only. ING has solid reputation from RFDers.

[Bytown]

I would suggest PC.
My reason.....u get CIBC/PC atm machines at ur disposal.
Also, u get a better rate.
I dont knw if ING is online based bank only. ING has solid reputation from RFDers.

pc:Is your everyday bank.
Ing:Is a long or short term savings bank.For this alone you don't need or want atm's.

I have heard ing will be offering a 5.25% savings account very soon.

[me2]

pc:Is your everyday bank.

very well said.
pc:I have heard ing will be offering a 5.25% savings account very soon.
That rate would be the best that there is. wow.
A 5.25% account would infact make most GICs redundant.

[darren22]

I have heard ing will be offering a 5.25% savings account very soon.

Where did you hear this?

[Hellfire]

I have heard ing will be offering a 5.25% savings account very soon.

Not going to happen. ING would be losing 0.75% on every $1 they paid that rate on.

[fallleave]

I have both Pc and Ing account, just kepping transfer the money to higher interest one.

[ZeroAquaduct]

I used to have both PC and ING accounts, but I find PC to be more convenient because of the CIBC ABMs. I now use PC for all of my banking (chequing, savings, credit, and RRSPs). :cheesygri

[felinusz]

While it is almost certain that ING will raise their non-promotional rates at the end of August, I don't think anyone can reasonably speculate about a rate as high as 5.25%.



I don't think you should expect to see a rate higher than 4.5%, at the very most.

I don't think you should plan for anything other than the 3.5% base rate that they currently offer.


Wait and see :)

[Thalo]

PCF, ING? Why not Outlook Financial? 4.35% and it's not a promo rate.

[420]

im new at this, but how do you link your accounts if you want to move your money from one to another? Details would be great because im thinking about opening a savings account myself.

Thanks

[shybutsly]

To link, you mail a cheque to ING with your account details. After they get the cheque, you call them to activiate the link. After that it will appear in your options for moving your money.

I use both ING and PC. For pure savings I like ING better just because it is tougher to get at your money. For some people this is a disadvantage, for others it keeps us from spending our savings.