Ing

[nedculshaw]

Does ne1 bank with ING, and does anyone have any warning, on why not to do so, cheers

[Gwhiz]

Does ne1 bank with ING, and does anyone have any warning, on why not to do so, cheers

Perfectly safe but please stop the crappy text speak. Any one!!!!

[D1zzy]

Only that they used to operate a 1 size fits all policy. Now they hook you in, drop the rate and offer better rates to new customers, and special rates to some (randomly selected?) existing customers. In terms of using your account - I had no probs.

[Ifts]

Only that they used to operate a 1 size fits all policy. Now they hook you in, drop the rate and offer better rates to new customers, and special rates to some (randomly selected?) existing customers. In terms of using your account - I had no probs.

I agree with the above. I bank with ING only because I used to be a customer with Kaupthing Edge (saving account and fixed rate bond) before ING took them over. I agreed to their 6 month special bonus interest offer they had for ex KE customers so once that has expired I will probably shop around for a better rate although I will keep it open with a small amount to receive my funds from my fixed rate bond.

As for the service, its fine and I find their on-line banking is easy to use. They accept in coming faster payments but withdrawals sent via bacs transfer usually take 2 to 3 days for money to reach my linked account.

The new isaver (http://if.com/savings/isaver.aspx) from Intelligent Finance is offering 2.85%.

[D1zzy]

The new isaver (http://if.com/savings/isaver.aspx) from Intelligent Finance is offering 2.85%.
and Coventry poppy saver now 3%

[Ifts]

and Coventry poppy saver now 3%

Better rate but its a limited access postal savings account

[david72]

(I realise this is a stale thread, but I think this is worth mentioning..)

Another aspect of ING that you need to bear in mind is that you will have to pay [1] to close your accounts, when you inevitably realise that their interest rates are poor, after any initial promotional period ends.

ING will not accept written correspondence, and you cannot close your accounts via their internet banking service (all the more puzzling since they are perfectly happy to let you open accounts that way).

The only way you can close your ING accounts is to phone them on a non-free 0845 number. This is why my ING accounts all have zero balance (at least they will let you withdraw your entire balance online), and I haven't yet got around to formally closing them. They seem happy enough to keep wasting their money sending me their customer newsletter, mind you!


[1] unless you have a BT landline contract which allows free calls to 0845 at certain times, or one of the very rare mobile tariffs which also allows inclusive 0845 calls.


This "pay to leave" scam (also operated by Santander/A+L, and probably many others) is very deceitful practice by the banks. It should be a legal requirement that as you can open an account online at no cost, you should also be able to close that account online at no cost. I would be very pleased if Martin felt that this was an issue worth campaigning on.

[noh]

(I realise this is a stale thread, but I think this is worth mentioning..)

Another aspect of ING that you need to bear in mind is that you will have to pay [1] to close your accounts, when you inevitably realise that their interest rates are poor, after any initial promotional period ends.

ING will not accept written correspondence, and you cannot close your accounts via their internet banking service (all the more puzzling since they are perfectly happy to let you open accounts that way).

The only way you can close your ING accounts is to phone them on a non-free 0845 number. This is why my ING accounts all have zero balance (at least they will let you withdraw your entire balance online), and I haven't yet got around to formally closing them. They seem happy enough to keep wasting their money sending me their customer newsletter, mind you!


[1] unless you have a BT landline contract which allows free calls to 0845 at certain times, or one of the very rare mobile tariffs which also allows inclusive 0845 calls.


This "pay to leave" scam (also operated by Santander/A+L, and probably many others) is very deceitful practice by the banks. It should be a legal requirement that as you can open an account online at no cost, you should also be able to close that account online at no cost. I would be very pleased if Martin felt that this was an issue worth campaigning on.

Most accounts require you to phone or write to close them either of which incurs a cost.
It is not true that you have to use an 0845 number to call ING
They publish a geographical number 0118 938 8151

http://www.ingdirect.co.uk/savings/variable_rate/contactus.asp

check existing customer button.

You can also use the 0800 numbers for new customers.

[natman]

(I realise this is a stale thread, but I think this is worth mentioning..)

Another aspect of ING that you need to bear in mind is that you will have to pay [1] to close your accounts, when you inevitably realise that their interest rates are poor, after any initial promotional period ends.

ING will not accept written correspondence, and you cannot close your accounts via their internet banking service (all the more puzzling since they are perfectly happy to let you open accounts that way).

The only way you can close your ING accounts is to phone them on a non-free 0845 number. This is why my ING accounts all have zero balance (at least they will let you withdraw your entire balance online), and I haven't yet got around to formally closing them. They seem happy enough to keep wasting their money sending me their customer newsletter, mind you!


[1] unless you have a BT landline contract which allows free calls to 0845 at certain times, or one of the very rare mobile tariffs which also allows inclusive 0845 calls.


This "pay to leave" scam (also operated by Santander/A+L, and probably many others) is very deceitful practice by the banks. It should be a legal requirement that as you can open an account online at no cost, you should also be able to close that account online at no cost. I would be very pleased if Martin felt that this was an issue worth campaigning on.


Yeah really agree.
I have written on forums a few times with my annoyance with ING and vowed never to return! Due to the above comments from everyone.

I agree with the 0845 Number trick too. however on 'Say no to 0870' There are some other numbers
http://www.saynoto0870.com/numbersearch.php

But yeah I really dont like ING, They entice you in then spit you out.
Go for the headline rates but remember to keep an eye on your account.

[home_alone]

Funny I have just closed my ing account and the £2.08 now back with my bank today, all you have to do is call them 0800 3768877 and close it, takes 3 days to get your money. I once had over £300K with them before the scary icesave days. One saying spells it out with ing "New customers only"

gary

[barak]

One saying spells it out with ing "New customers only"
gary
True, but you can become a "New customer" a few days after you close any existing accounts.

[bjorn_again]

True, but you can become a "New customer" a few days after you close any existing accounts.

It is a very simple process. I also find ING excellent on customer service and efficiency.
Looking around, most other Banks do exactly the same with a bonus rate which lasts a year, to entice people in. I came in from KE and was very pleased to do so at the time.

[home_alone]

My instant access account ends end of jan 10 and I was thinking of ing but I see that the 3.2% is withdrawn as of 14/11/09.
(from moneyfacts)
SAVINGS ACCOUNT (new customers) paying 3.16% will be withdrawn w.e.f. 14.11.09, standard rate paying 0.50% will still be available.

I think I can get better than 0.50%

gary

[noh]

My instant access account ends end of jan 10 and I was thinking of ing but I see that the 3.2% is withdrawn as of 14/11/09.
(from moneyfacts)
SAVINGS ACCOUNT (new customers) paying 3.16% will be withdrawn w.e.f. 14.11.09, standard rate paying 0.50% will still be available.

I think I can get better than 0.50%

gary

Open it today with £1 and it will be available for the deposit of more funds when you receive them.
If there are better rates available at end of Jan 2010 then just don't use the ING account.

[alared]

ING Direct are NOT covered by the FSA in the event of a collapse.

[D1zzy]

Open it today with £1 and it will be available for the deposit of more funds when you receive them.
If there are better rates available at end of Jan 2010 then just don't use the ING account.
Thanks for that -just opened mine. - Currently have an EGG 3.25% for dumping "spare cash" - but good to have this as a fixed rate if EGG drop their rate.

[noh]

Yes Iv'e got the egg one too at 3.25%. Even if they keep the rate the same it will finish after 12 months which is next August for me.
So opening the ING one gives me another couple of months after that at a similar rate. If there are better rates around then I will take advantage of those.

[bjorn_again]

ING Direct are NOT covered by the FSA in the event of a collapse.

Correct they are covered by the Dutch Government to 100,000 Euro. And anyone who says they don't trust the Dutch Government, surely belongs to the "w*gs begin at Calais" brigade.

[alared]

Correct they are covered by the Dutch Government to 100,000 Euro. And anyone who says they don't trust the Dutch Government, surely belongs to the "w*gs begin at Calais" brigade.

It`s not a question of trusting the Dutch government, more the hassle and time plus lost of interest if ING went pearshaped.

Maybe you`d like to explain how a private individual would go about retrieving their hard earned in the event of a collapse.

After the Icesave fiasco,I would have thought that lessons had been learned.

[noh]

It`s not a question of trusting the Dutch government, more the hassle and time plus lost of interest if ING went pearshaped.

Maybe you`d like to explain how a private individual would go about retrieving their hard earned in the event of a collapse.

After the Icesave fiasco,I would have thought that lessons had been learned.


To find out information on the Dutch Deposit Guarantee Scheme read the details, in english, on their website here :-

http://www.dnb.nl/openboek/extern/id/en/all/41-117052.html

[bjorn_again]

It`s not a question of trusting the Dutch government, more the hassle and time plus lost of interest if ING went pearshaped.

Maybe you`d like to explain how a private individual would go about retrieving their hard earned in the event of a collapse.

After the Icesave fiasco,I would have thought that lessons had been learned.

A couple of issues here.
1. With no historical precedent of claimimg against the Dutch Government, it is fatuous to suggest that their compensation scheme would be more hassle, take longer to complete and result in greater loss of interest, than the FSCS.
2. Noh has already posted a link to the web site showing how the scheme works.
3. To compare Iceland to an EU member state and a member of the Eurozone does not stand scrutiny.
4. The only serious lesson to be learned from the "Icesave fiasco" is don't invest in Iceland again.
5. ING is not going to go t*ts-up. EU leaders have already stated that no major Euro institution will be allowed to fail, plus the fact that it is like Santander, too big to be allowed to go to the wall.

[alared]

All I said was that ING is NOT covered by the FSA and a lot of people reading this thread would be worried and maybe didn`t know that.

Following the link from Noh about the guarantee,it doesn`t say HOW to claim.
They must be going to tell people that if it happens!

[noh]

It works in the same way as our FSCS they will contact the account holder.