ING savings accounts or similar?

[pow3rslave]

i usually just piss through my money if it's in the bank account, 20 bucks here and there adds up to me being poor as.

then when i was doing my tax last week i noticed that i only earnt 2 bucks interest even though i had 3k in there at one point.
anyway, i was gonna set up one of those high interest savings accounts to try to save better and make more interest too.

looking at ING, but there's also uBank which is apparently backed by nab.
ubank has a introductory rate of 5.11%, not sure about ing, i haven't seriously looked into the ins and outs, just wanted to know if any of you have something like this set up?

[Jesterarts]

My gf has an ING account thing and she is happy with that.

I have a Online Saver Account with ANZ, same deal basically.

Haven't heard of uBank before, but if they are backed by NAB then go for it.

I'm the same as you, i had my money sitting in an account which was linked to my card and it kept 'magically' vanishing and al i had to show for it was a headache.

Now with the cash in the Online Saver I have acces if something really hits the fan, then i can get to it but otherwise its safely our of reach.

I also had term interest accounts before, but then I was really locked out of that money for the term period AND i could only add to it when the term was up. SO it was sitting in my normal account getting spent up until then.

Good luck mate!

[danja]

I have an ING account for medium term savings. I think they are great.

They cost zilch to establish and maintain (no minimum balance, no monthly fees etc), and offer a much higher interest rate than the average savings account. I earned a few thousand dollars of interest in mine last financial year, compared to about 30c on my day-to-day account. I siphon a little over half of every paycheck into it and let it build up interest.

They also do nice things like run promotional rates for a few months at 0.5% higher than usual, or just the other day they gave me $50 bonus interest for being a loyal customer. Can't complain about that kind of service!

The fact that the money is fairly isolated, and you don't have immediate point-of-sale or ATM access to it means you are like likely to impulse buy.

I don't have any experience with UBank or any of the others (when I opened my account ING was the only product in the marketplace) but I imagine they are much the same.

[Reaper]

i usually just piss through my money if it's in the bank account, 20 bucks here and there adds up to me being poor as.

then when i was doing my tax last week i noticed that i only earnt 2 bucks interest even though i had 3k in there at one point.
anyway, i was gonna set up one of those high interest savings accounts to try to save better and make more interest too.

looking at ING, but there's also uBank which is apparently backed by nab.
ubank has a introductory rate of 5.11%, not sure about ing, i haven't seriously looked into the ins and outs, just wanted to know if any of you have something like this set up?

I have a ING Business Optimizer account and have found it excellent for parking spare cash. Their rates are within .1 of the best if not the best going around and there are no monthly costs etc. Banking is 100% via the internet linked to any other Australian bank account. Highly recommended.

Reaper