Substitute for INGDIRECT, with direct connect

On Sat 04 Jun 2005 09:09:40p, Q_Lover wrote in news:Xns966BD73CBB174thuds@

Bank One/Chase, NationalCity Bank, or Vanguard.

I currently keep the bulk of our cash at Vanguard in a money market fund (non-FDIC) in multiple accounts.

At Vanguard and other investment companies, you can schedule periodic automatic transfers to or from any of your bank accounts (if this is any advantage to you). You can also do ad-hoc transfers.

E*Trade has a bank subsidiary. They allow you to set up direct transfers to/from any number of other bank accounts and have direct connect.

NetBank is also good but I have no personal experience.

I think the highest rate is from Emigrant:

Emigrant direct does have the highest rate, but as far as I can tell, it does not support direct connect, only web connect. I certainly hope I am wrong, but I don't think I am.

"Z Man" wrote in news:krFoe.40862$ snipped-for-privacy@fe09.lga:

You do have to weigh the pros and cons. Since I have Roboform, I can generally just click on a roboform login and have my browser go direct to that account.

On Sun 05 Jun 2005 11:07:44a, Z Man wrote in news:krFoe.40862$NZ1.32532 @fe09.lga:

Thanks for pointing out that it does not support the direct connect option.

Many of us do ask specifically for direct connect.

I sure wish I'd heard of Emigrant a few days ago. I just opened an account at ING Direct (3.0%), and now I'm going to move it to Emigrant as soon as they "free up" my initial deposit. Looks like ING holds onto your initial deposit for close to 20 days before letting you touch it. Since I planned to keep it there as my emergency fund, I wasn't concerned. But now I want to close that d#mned account and move it to Emigrant. I'm willing to forgo direct connect for 3.25% interest, especially considering this account will have little activity.

BTW, I just found another credit card (VISA) that offers free direct connect. It's the Amazon.Com VISA. Initially it was BankOne, but suddenly the web site says it's a First USA card. So I ran through the online setup expecting it to bounce me out, but it set up the account and did a download. Frankly I hate First USA and never would have opened the account. But Amazon.Com offered me $30 off an order for opening an account. I intended to close it after getting my $30, but now that I find it's got direct connect, I may just keep it around. :-)

Regards,

Margaret

I've had a Bank One AOL credit card for years, and until recently, I don't think they supported direct connect, but now they do.

"Z Man" wrote in news:2JJoe.2662$ snipped-for-privacy@fe11.lga:

FirstUSA was taken over by BankOne, who in turn was taken over by JPM/Chase. I have both an original FirstUSA card and an amzon card, and it is difficult to keep payments to the cards staright since they download with an identical payee.

Han said

Thanks to all for the followups!

It looks like getting a good rate of return and Direct-Connect is mutually exclusive. ;-)

I jumped from GMAC Demand Notes (3.44%) to Ing (~3.00) to get Quicken compatibility. I later realized ING was not Direct-Connect. Ugh.

Regarding RoboForm. I found the website for this program and it looks interesting. I am presently using PASSWORDSAFE. Roboform looks more functional. You seem to imply simply clicking on the Roboform password entry automagically launches your browser and logs you on? Is this correct? This might make Webconnect a bit less painful.

It does seem as though the highest taxable rates are from companies that only support web-connect (EmigrantDirect at 3.25% and INGDirect at 3% are the two I know of).

Depending on your tax bracket, you might want to look at Vanguard's Tax-Exempt Money Market fund. It was recently paying 2.63% free of federal tax, which is the equivalent of about 3.5% taxable if you are in the 25% bracket. Vanguard offers direct-connect downloads.

"Q_Lover" wrote in news:Xns966CC5BB4EE2Bthuds@

Correct

FWIW, if it is just for emergency fund, you might consider keeping you money at ING, but moving it to a CD. Emigrant does not offer CDs. ING currently has 3.7% for one-year CD. Early withdrawal will cost you half the interest, but if more than a year passes before you need it, you might come out ahead.

Gregg

I haven't tried Roboform, but I've been using Password Agent for years. It stores ID/passwords and fills in forms.

Margaret

Mike L said

I sent an email to Emigrant innocently asking if they provided Direct Connect. After two emails back and forth, they informed me Direct Connect was available! Then I called and now they say Web Connect is the only method. LOL, what a comedy. ;-D