Comments on: GMAC Bank vs. ING Direct

By: Jennifer

Jennifer — Fri, 13 Mar 2009 18:46:40 +0000

GMAC has the worst customer service ever. I have had an ING account for over 3 years now with now problem. When thier rate started to go down I started looking into other banks and GMAC seemed to have the best rates. I transfered my money from ING to my checking into GMAC. GMAC then went ahead and took double the amount I requested out of my checking. I tried to get them to put it back, they refused, and would only do a regular 3-5 day transfer. There was a one day transfer but they wanted to charge me for that too.
When I tried to close my account with them, they gave me false information about my account balance and I now have to wait a week for my money to be out of the hands of these incompetent “bankers”.
I will never use this bank again and I will advise anyone I know to boycott this bank. They have lied to me, stolen my money and have the rudest, least knowledgable customer service reps. They dont take accurate notes when you call and thier website doesnt update your account information if you check it daily.

Maybe they can afford those high rates, since the training provided to the customer service representatives is non-existent.

Worst Bank Ever!

By: Bill B.

Bill B. — Sun, 28 Dec 2008 15:29:21 +0000

I have CD’s and MMA’s at both GMAC and ING. ING has the most “user friendly” website you could ask for. While others have complained about the long phone waiting time for GMAC, I’ve never had to wait more than a minute or two. Their customer reps have always been polite and helpful. I did have trouble with my password with GMAC at first, but it was because I misunderstood the instructions for my temporary password. Once I corrected it, I’ve had no problem. I did have trouble with Giantbank of Florida. Their customer rep was rude and condescending. I cashed in my CD’s with them and sent them a letter explaining why. I got no response.

By: Joe

Joe — Wed, 10 Dec 2008 13:32:49 +0000

Can anyone tell me the security of GMAC Bank. I know they are FDIC secured, but what does this have to do with the GMAC I keep hearing about that can not get “bank holding status” for the TARP program. In other words…do I need to worry about my money in GMAC Bank?

By: Albert Smith

Albert Smith — Sun, 02 Mar 2008 20:51:28 +0000

WHAT ARE YOUR CD RATES FOR 6MO.$500.TO 2500.AS OF 3/4/08

By: Paul B

Paul B — Fri, 08 Feb 2008 16:31:47 +0000

CD’s are another Story. It depends on the CD term, and the amount of the CD.

By: Norm

Norm — Thu, 07 Feb 2008 04:48:35 +0000

I joined GMAC over a year ago talked to reps a couple of times, they were as nice as good be. Now my gripe is low interest rates. Can find several places paying better rates. When I can get rates that are 25 percent better I will be moving on as soon as CD’s mature.

By: Chris

Chris — Tue, 22 Jan 2008 20:40:49 +0000

ING does not have the best rates. I use money market accounts all the time and usually ING is pretty far down the list of FDIC-insured banks. I have three open at a time and if one of them lowers their rates I use the next highest paying money market listed at money-rates.com. 6 withdrawals a month is plenty for most savings accounts.

By: Paul B.

Paul B. — Mon, 21 Jan 2008 19:44:36 +0000

When ever I asked anyone about a High yield savings account they all said ING. Why? Because they have the best rates… haven’t you seen the commercials? Is this the only reason people think ING is better? I am not knocking people that have ING. I am sure they are happy with their accounts but look around. GMAC will probably always have a higher rate than ING. ING is a savings account and GMAC is a MMA. With an MMA they allow checking, while most savings accounts do not. If you can’t save $500, which is the minimum at GMAC to avoid fees, then you have other problems. D(#1) if you are worried about time write a check, that’s why they give you those. I have my account hooked up to my checking. If I make an instant transaction yes it takes 2-3 days because it will be posted the next business day anyway, but I have a scheduled transaction every week. Those scheduled transactions take effect on the day. I have not called GMAC’s customer service but I have used their online form to message them. I had my response in a few hours. Oh and by the way I was turned off by ING because their website looks like it was made by a baby. They are using very old HTML styles and javascript methods. They created those cool ING orange ball rollovers using a Fireworks script.

My review on the technology that GMAC uses:
http://moneyanswertree.com/archives/32/gmacbank/

#4 brody – GMAC is an MMA not a savings account. Meaning you are limited to 6 outbound transactions per month, 3 of which can be a check. Enjoy your freedom to save less money.
#9 WearyTravele – If you are opening up a CD with 5 dollars, you might find better “interest” in your sofa or your car seats. Also have you called GMAC customer service and talked to a non english speaking person? Or are you just pointing out the ING has English speaking customer service agents? Have you heard of GM? AMERICAN Multinational Corporation, and World’s largest auto company.
#22 Bren – Countrywide has good CD rates same with Indymac bank and E*Trade because they are likely to go out of business and need your money. They offer higher rates to get people to switch over. If you are a rate chaser then try it out.

By: Sara

Sara — Thu, 10 Jan 2008 02:43:06 +0000

I have accounts with both ING and GMAC and have been very pleased with both. I was satisfied with ING until I needed money at the last minute and had to wait for the funds to transfer from my ING to my checking account. I opened a GMAC account because their MMAs have an ATM card and checks for emergencies.

By: Zach

Zach — Sat, 05 Jan 2008 00:18:33 +0000

I love my ING Direct account. It doesn’t have the highest APY but you won’t get better customer service anywhere else. Also, their online interface is just easy and aweseom.
I also do still have many referral links left if anyone would like to contact me to receive a link (either for an orange savings account or the electric orange checking/savings account) to sign up for an account. You receive $25 for signing up with a min. of $250 or more. A nice little bonus for nothing! Just shoot me an e-mail @ z3trkrnr@gmail.com and I’ll send the link right back to you!