ING Savings Account

[actress1nce]

I opened an ING savings account about a month ago as their interest rate was the best on the market. Just thought I would let the board know that I have just received a letter from them today saying that as the BOE has changed the interest rate ING will be raising their interest rate on savings to 4.7%. WOW, don't get many letters like that from banks!!!!! I'm impressed. ::)

[Noxid]

I have a first saver from Britannia and about a month after they put up rates they send a letter through saying rates have changed and include a table. Only problem is I know about six weeks before hand. For example the first saver will be at 4.3% from 1/6/04 which is still rubbish. ;D

[actress1nce]

Arrgghh - well I hope I don't geta letter in a month or so then saying that they're putting it down again!!! LOL!!! Actually I suspect they won't for a while as it's their first year and they are having quiet a good run. I also have an Egg savings account which is still pretty good by most banks standards for savings, but the interest rate has even crept down on that account over the past couple of years. I can honestly say, though, (crossed fingers) I have never had a bank write to me telling me they are putting the rate of interest UP on my savings - always DOWN!!!! I will wait and see :P

[robnye]

ING is 1 year old......

if you go to their main web page http://www.ingdirect.co.uk/

on the right hand side is a section to celebrate there first birthday


only limited tickets hurry now

[actress1nce]

Yeah, I have put in for my tickets - sounds fantastic. Hope I am lucky enough to get some :)

[Milarky]

The old [Nationwide] trick about breaking bad news was to say that interest rates had 'changed' when they had really gone down, whereas you boast that your have 'increased' your rates when that happens rather than merely saying they have changed again

[amboy]

Being one of the lucky winners for their first trip, all I can say is WOW.

What a day they laid on, the staff were great and made a point of talking to everyone, the food was yum.

Best of all they dont have any small print or gimmicks

didnt see Sanjeev though 8)

Seems that Ing have been knocked off the top by A&L:

http://www.moneysavingexpert.com/cgi-bin/yabb/YaBB.cgi?board=Savings;action=display;num=10847413 20

they are launching a similar account at 4.85% with no introductory rates.

Hmmm should I move my money across to A&L , any thoughts ? or should I just stick with Ing ? However the max you can invest on this account is £25000 and interest is paid annually instead of monthly.

[Milarky]

This is the classic ''Moneysaver's Dilemma'', isn't it? Whether to move accounts for 0.15% pa !:o

Seriously, I think you should stick with ING and tread warily with a new account like the A&L's, because ING is a 'no catches' brand, whilst almost every new account launched is hedged with suspicion, and there are a few catches with this one. http://www.moneysavingexpert.com/cgi-bin/yabb/YaBB.cgi?board=Savings;action=display;num=10847413 20#6

I would, though, recommened opening an A&L current account online - if only for the free 25GBP [grr! I can't make the 'pound' symbol above the '3' on my keyboard work now - any tips anybody?]. But they also give you a year's interest-free overdraft. You need to pay in at least 500 pounds each month (so that's where the ING account can come in handy!) or be stung for a 5 pound fee. You could probably transfer the OD limit (less fifty quid for withdrawals, say) from the A&L current account to the online account - you certainly can put it in your ING account, for instance! [So that's 25 pounds for joining. plus nearly 4% of the overdraft.] !;D

[DiggingOut]

25GBP [grr! I can't make the 'pound' symbol above the '3' on my keyboard work now - any tips anybody?].

What happens when you press shift-3? Do you get #?

[Milarky]

What happens when you press shift-3? !Do you get #?

I get: # (shift-3) !>:(

[There must be a way to reconfigure a keyboard on Windows XP Home, but I haven't found it yet]

PS the euro symbol is to right of '4', below the '$' - what key would one press to display that? (You realise, that being able to successfully answer this question is one of Gordon Brown's tests :))

[Paul_Herring]

I get: # (shift-3) >:(

[There must be a way to reconfigure a keyboard on Windows XP Home, but I haven't found it yet]


START > Settings > Control Panel > Regional and Language Options.
Languages Tab.
Text Services and Input Languages - [Details...]
[Add...]
Input Language: English(UK)
Keyboard layout/IME: United Kingdom.

You probably have US listed as a Keyboard - this is the one that gives # instead of £ for Shift-3 - try removing it; it may require you to reboot.

PS the euro symbol is to right of '4', below the '$' - what key would one press to display that? (You realise, that being able to successfully answer this question is one of Gordon Brown's tests :))

[Alt-Gr]-4, or Ctrl-Alt-4 The Alt-Gr is usually to the right of the space bar. This key combination won't work on the US keyboard, but does on the UK one.

Regardless of which keyboard you have set up, Alt-0163 (on the number pad, not on the keys above the letters) will give you a £, and Alt-0128 will give you a €.

HTH :)

[Judi]

START > Settings > Control Panel > Regional and Language Options.
Languages Tab.
Text Services and Input Languages - [Details...]
[Add...]
Input Language: English(UK)
Keyboard layout/IME: United Kingdom.

You probably have US listed as a Keyboard - this is the one that gives # instead of £ for Shift-3 - try removing it; it may require you to reboot.


[Alt-Gr]-4, or Ctrl-Alt-4 The Alt-Gr is usually to the right of the space bar. This key combination won't work on the US keyboard, but does on the UK one.

Regardless of which keyboard you have set up, Alt-0163 (on the number pad, not on the keys above the letters) will give you a £, and Alt-0128 will give you a €.

HTH :)

Blimey theres more to a humble keyboard then!!

[DiggingOut]

START > Settings > Control Panel > Regional and Language Options.
Languages Tab.
Text Services and Input Languages - [Details...]
[Add...]
Input Language: English(UK)
Keyboard layout/IME: United Kingdom.

You probably have US listed as a Keyboard - this is the one that gives # instead of £ for Shift-3 - try removing it; it may require you to reboot.


[Alt-Gr]-4, or Ctrl-Alt-4 The Alt-Gr is usually to the right of the space bar. This key combination won't work on the US keyboard, but does on the UK one.

Regardless of which keyboard you have set up, Alt-0163 (on the number pad, not on the keys above the letters) will give you a £, and Alt-0128 will give you a €.

HTH :)

Paul, you're a newbie, so take it from an old "regular moneysaver"! Efficiency of effort is vital.

Notice my technique. A simple question, minimal effort, pointing anyone who has a clue in the right direction. 8) Then, I rolled on to other forums, happily scattering brief postings hither and yon. :D

You, on the other hand, provided the vital "newbie" function of providing extensive information. Wonderful, and I'm proud of you! ;D Couldn't have done it better myself!

But look how many stars I have. Wouldn't YOU like a few more?

I predict that anyday, now, you ALSO will have another star. When it happens, try my technique! Short, sweet, maybe useless (like this post!), and let the newbies do all the work. ::) Nothing longer than four or five sentences. ;)

Before you know it, we'll both have four, or even five, stars! :D

Nothing... longer... than...
:-[ :-[ :-[ :-[ :-[ :-[ :-[
;D

[mhawkshaw]

I get: # (shift-3) >:(

[There must be a way to reconfigure a keyboard on Windows XP Home, but I haven't found it yet]

PS the euro symbol is to right of '4', below the '$' - what key would one press to display that? (You realise, that being able to successfully answer this question is one of Gordon Brown's tests :))

I should pass his test then.... ;D

To get the € symbol, hold down the 'Alt Gr' key and press 4.

NB: It's the Alt Gr key, to the right of the spacebar, not the Alt key. Might not find it on a laptop, in which case press Ctrl + Alt + 4

[Paul_Herring]

But look how many stars I have. Wouldn't YOU like a few more?


Not if it means posting just for the sake of posting. I'd prefer to (usually) post something that helps someone or has a point, rather than just space filling posts ;)

I'll leave that to the 'old "regular moneysaver"'s ;D



Smallprint: Some of the points made in this post were meant entirely as humerous jibes and are not to be taken seriously. The poster reserves the right to make nonsensical or pointless posts at any time in the future :)

[DiggingOut]

space















filling




















posts

???
Whatever could he be talking about? ::) ::)

(great disclaimer in the small print) ;D ;D

[Lady_K]

I gave instruction for ing to take an amount out of my current account on monday this week I was under the understanding that it would still show up in my current account until today which is when it would then show up in my ing account being the 3rd day... That has happened but it is showing as uncleared funds in ing now... Why is this? does this mean I am not getting interest on it until its cleared? I thought it should have been cleared today

[Tree]

Thanks Paul, have no probs with this k/board but, had similar problems with a really good Pack Bell one that, I can now chuck on my other, only used for "Word Processing", machine. Easy for all to understand too. Ta very much, Tree :D

[bridiej]

Hi Lady_K

My understanding is that if it appears as "uncleared funds" then you won't be earning interest yet, but may be worth querying with them. :)

[Milarky]

Hi Lady_K

My understanding is that if it appears as "uncleared funds" then you won't be earning interest yet, but may be worth querying with them. :)

Don't think that's right, bridiej. Almost 100% certain that 'unlceared' merely means you cannot immediately withdraw the funds - but will earn interest from the date of deposit.

[everyone else - Paul H especially - thanks kindly for keyboard hints - £€£€£€!!!!- don't fall out now!] !;D

[Lady_K]

Yes I rang them today and they told me that when the funds go into my account they do so as uncleared funds for 3 working days. During this time interest is paid on it but I cannot withdraw it till the funds are completely cleared :) but I'll check statements when they come to double check.

I thought we were able to check the interest recieved daily in ing accounts online... I read it in another ing thread but I cant find it anywhere in my account unless they have changed the way they do it online. I can find the calculator its not that, but its supposed to be the daily interest that your account earns each day depending whats in it

[Milarky]

Never come across that on their site. (Do you mean 'historcal rates' info perhaps?) What you can do is log on the 1st of any month and see the interest added - calculated up to the day before.

[Paul_Herring]

I thought we were able to check the interest recieved daily in ing accounts online... I read it in another ing thread but I cant find it anywhere in my account unless they have changed the way they do it online. I can find the calculator its not that, but its supposed to be the daily interest that your account earns each day depending whats in it
Hmm - if that's what was posted in another thread, then it's wrong. It's caclulated daily, and accrued monthly, but they don't have any way of checking 'how much you've earned this month so far.' See 1. How do you calculate the interest on my account? (http://www.ingdirect.co.uk/html/aboutsavings/faqs.html#interestcalc)

[MiserlyMartin]

Rates:

They have had plenty of time to say if they are going to repsond to the B of E's recent rate rise..so far nothing. Sticking at 4.7%. I would expect to see at least 4.9% preferably 4.95% if the full rise is to be passed on.

Watch this company my fellow moneysavers....they may not be holding on to their leading margins

I thought they only reviewed thier rates every quarter? If this is the case we wont see another rate rise from them till August.

If BoE increase the base rate between now and August I have a hunch we may only see a maximum of 5% from Ing unless some other bank comes in and offers a better alternative which I dont see happening in the immediate future.

A&L isn't a big threat at the moment.

I called ING on Friday - was told that they are probably NOT going to be putting their rates up.

Capital One do a monthly rate at APR 4.90% so might be worth a look

I think it is time to start looking at moving away from ING

[Judi]

I called ING on Friday - was told that they are probably NOT going to be putting their rates up.

Capital One do a monthly rate at APR 4.90% so might be worth a look

I think it is time to start looking at moving away from ING

Typical, ive just set up an account with them >:(

[Milarky]

A useful place to keep tabs on ING is their 'Press Room'

www.ingdirect.co.uk/html/footer/pressreleases.html

You will notice that they move in response to the previous three BOE rate rises pretty quickly, so it does indeed appear as though they won't increase rates again in July :(

[JasonElse]

For those who were thinking about moving from ING (4.7%) to A&L (4.85%) - its not worth it if you do the sums.

ING Direct pay interest MONTHLY,, so you get the miracle of compound interest.

A&L pay yearly so you wont get this.

Work it out over a year and the compound interest is worth more than 0.15%

ING is the winner again!

[MSE Martin]

Not allowed to say anything yet - it's embargo'd but wait for my money tip this week for news on this

martin

[lisyloo]

Work it out over a year and the compound interest is worth more than 0.15%


I have jsut checked INGs website and 4.7% is AER - Annual Equivalent Rate i.e. after the monthly compounding stuff.

Be careful with what you are comparing.

[bonecold1]

ING pay something like 4.6% interest every month which compounds up to 4.7% over the course of the year. This is why a lower amount of interest is sometimes shown in the best buy tables for monthly interest paying accounts.

[lisyloo]

It is indeed 4.6% gross.

The details are here.

http://www.ingdirect.co.uk/html/aboutsavings/interestrates.html

Be careful when comparing rates from different accounts to make sure you are comparing like with like.

[Judi]

Not allowed to say anything yet - it's embargo'd but wait for my money tip this week for news on this

martin
:o

[bonecold1]

There are two types of rate

1) A.E.R. rate. This is the important one as it tells you how much interest you will receive on your money over the course of the next 12 months. The A.E.R. figure is often lower than a headline interest rate as the headline rate offers an introductory bonus and then the rate plummets after the intoductory period is over.

2) Gross rate. This is the rate at which your interest is paid. So ING have a gross rate of 4.6% (As they pay interest monthly at 4.6%) which compounds to pay an A.E.R. of 4.7% (as the monthly interest already received is added onto your account balance and used to calculate the next month's interest). Accounts like Alliance & Leicester who pay interest annually have their A.E.R. and Gross rates the same.

However an account with the highest A.E.R. is not necessarily the best one. Say a new easy access account comes out with an A.E.R. of 4.5% and an introductory 6 month rate of 5.5%. You'd be best putting your money into the new account for the first 6 months and then withdrawing your money after the 6 months into the Alliance & Leicester.

When does Martin's email come out then! I was about to move my modest savings from ING (4.6%) to Egg (5.25% for 6 months) for a short while. But will now hold off for a while to see what Martin's email says.

(I know, there is no logical reason why all my monies in ING and not Egg -- its just my jampot mentality, the money in Egg is for my new car, the money in ING is for my future!)

Come on Martin, put us out of our misery soon!

[bonecold1]

My advice is wait until tomorrow for details of Cahoot's new 5.5% savings account!

[lisyloo]

Come on Martin, put us out of our misery soon!


I am sure Martin will give us the information as soon as he ia able.
As a journalist if he released information early when it was given to him until strict agreement, then he will loose a lot of credibility and not be able to get nformation like his for us in the future.

I am sure he will pass it on as soon as he can.
You'll just have to be patient.

Most companies don't want stuff leaked, they want it don't first in their official press release.

Anyone who breaks this kind of agreement would find it hard to work in the business I expect so obviously he can't do that.

All gone quite on the ING front?

Yes very. If they want to remain competitive over the next few months they have to raise thier rate to at least 5%.

Ings main philosophy is not to be the No.1 rate setting bank but to offer a rate that remains competitive over a long period mainly targeting casual savers who do not want to keep switching accounts every year.

Cahoot, A&L and Ing are all now in the top 3 for instant access savings accounts.

Does anybody know what rate the Cahoot savings account drops to after the 12month introductory rate ?

As soon as my Cahoot account is activated I will be shifting all my savings from my ING account...which will give me £150 extra interest over 12 months compared to ING.

[lisyloo]

which will give me £150 extra interest over 12 months compared to ING.

I personally think that's unlikely.

I think it's likely that ING will raise rate roughly in line with BOE rates (yes I know they missed 1 out of the last 4).

I don't think cahoot will raise this really good rate for a while.

Just my guess and I think it's still worth getting the Cahoot account.
But don't assume that they will raise it in line with BOE - my guess is they won't.

Not allowed to say anything yet - it's embargo'd but wait for my money tip this week for news on this

martin

How long is this embargo's for Martin? :)

You said 'this week' - well it is almost 'next week' :p

Come on spill the beans :)

[alared]

Can anyone confirm that ING are raising rates on 10th July to 4.85%

[lisyloo]

There is nothing on their website in press releases.
Where did you hear it?

[alared]

On a foolish board

[lisyloo]

Are you confusing it with this message which is about Cahoot?

Cahoot are upping their savings rate from 10th July to 4.85% AER.

Or perhaps this message

ING will be raising their rates to 4.9% on 1st July.

which is from someone called alared

If that is you then you have been asked for a source of TMF.

Hi alared, could you please give the source for this.

You must be getting confused or forgetful !:-/

Haven't seen any attributed posts on TMF either.

A&L are 4.85, could it be their account you're getting confused with?

[alared]

I`ve read the other board again and although it` s on the ING thread the poster is saying Cahoot are puting their rate up to 4.85% from 10th July.
If ING fail to raise this time I think they`ll lose a lot of customers to the new 5.5% savings account from Cahoot.
I should have thought that ING would have responded to the last BOE increase by now.

[lisyloo]

I don't think they are going to raise (they would have done it by now).

The will probably lose some business to Cahoot (the tarts) but not everyone is prepred to jump ship every 5 minutes.
ING are offering a great rate in the long term (no bonuses or introductory rates) so are good for people who want a good rate but don't want to go to the trouble of changing accounts all the time.
Cahoot will be good in the short term but my guess is that in a years time, we'll all be back at ING.
I am keeping my ING account open just in case.

Before you say - opening an account is no hassle - I can tell you that for disabled elderly people who can't remeber where they put their stuff - it's a nightmare.
We help our parents and even simple form filling exercises are a nightmare.
We will have to turn the whole flat upside down to find the ID required.

For people who don't want or like being a tart then I think ING will be a good long term bet.

All in my opinion of course.

[alared]

I agree with you but having had an ING account since day one (which I`ve always been happy with),my hard -earned will be heading towards Cahoot fairly shortly.
The ING account will be left open for a return to in the future.

[lisyloo]

I am doing exactly the same.
No harm in keeping your options open.
It will save some hassle in the future if you need to return.

My guess (again my opinion) is that Cahoot will not be very good at putting up this rate in future (as it's already really good).
ING may narrow the gap over the next few rises.

I called up ING direct. They told me that they are reviewing their rates at the moment. So it seems like something is being done.

Cheers

[Judi]

Thanks for that Negs.

[alared]

They may be reviewing their rates but there`s no way it`s going up to 5.5%.
Having said that if it was`nt for ING starting up in this country,things would be a lot worse on the rate front.
Cahoot is owned by Abbey National who certainly have never been known as generous for savings rates,yet they can waste eleven million pounds re-branding themselves as wait for it Abbey!!!!!!!!!!!!
Even I could have thought of that one.

What annoys me here is that Martin promised information - yet he has failed to deliver - I am assuming this guy is for real??

That will annoy many of you regulars, but I am new - and having seen a website owner make a promise, and then not deliver is not exactly confidence building.

He has also failed to respond to this thread since then.

It would be nice if he were to even post and say 'Sorry guys, ING have asked for the info to be delayed by a week/month/year'

Come on Martin - let us know....

[lisyloo]

What annoys me here is that Martin promised information - yet he has failed to deliver - I am assuming this guy is for real??

That will annoy many of you regulars, but I am new - and having seen a website owner make a promise, and then not deliver is not exactly confidence building.

He has also failed to respond to this thread since then.


Ian - I belive that the news is the new Cahoot account paying 5.5%.
The information has been available for a few days so I am amazed you missed it.

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1088046565,10988,

Can I suggest signing up for Martins tips?

I don't think Martin has the time to answer every thread or every individual personally.
You need to look around the rest of the site (this news is all over the place).

Can I also suggest you do a little more research before making statements like that above.

I think you will find people here pretty friendly if you ask for help but not if you make statements that aren't true simply because you havne't looked for the information.
These boards are very busy and I'm sure Martin can't read them all.

Not allowed to say anything yet - it's embargo'd but wait for my money tip this week for news on this

martin

Apologies if I upset you or anyone else.

He message was above - it was clearly about ING as that what was his subject was. Not Cahoot.

I do subscribe to his moneytips now, and the last edition had no mention of ING in it.

Either Martin forgot, was on a wind-up, or ING withdrew the information - if it was the first one then fair enough - but all I ask for is the information promised :)

[isasmurf]

If ING are looking into their interest rates now, I think they've probably been forced into it by Cahoot.

My own view is that they were waiting another month or two before deciding what to do. Why? Well IMO it combines in with the complaints of not passing on the full 0.25% rise in the past. If you look at their advertising you'll see that their interest rate is put in the middle of a lifebuoy, you'll also see that they cannot fit more than 2 digits in there without it looking squashed.
If they wait for another rise they could pass on the full rise together with this months, i.e. 0.5%.

Or perhaps I'm just grasping at straws... ::)

[lisyloo]

He message was above - it was clearly about ING as that what was his subject was. Not Cahoot.


That is not my interpretation after having read the thread again.
I believe it is the news from cahoot which was published on 24th June - 1 day after his message.

It is of relevance to people on the thread because lots of people will be interested in moving from ING to Cahoot. So it was relevant to post on an ING thread.

[DiggingOut]

Either Martin forgot, was on a wind-up, or ING withdrew the information


Or you misunderstood what he was saying.

He message was above - it was clearly about ING as that what was his subject was. Not Cahoot.

That is simply because he clicked "reply" on a thread that was started about ING. But it had moved on to comparing different providers / rates -- several others had been mentioned as to which was best. He then said he had news on that coming out.

No, I'm not a Martin Lewis groupie, I just don't like people criticising anyone without good reason. Maybe one or two people around here already know that. But anyway, I'll have to find a better reason than this one to criticise him. ::)

In general, I prefer to look for a positive explanation of someone's actions/words rather than a negative one, until the negative is forced on me.

Strewth - how can you think this ;)

Martin posted on the same day as Cahoot was in the press - so it couldn't have been emabargo'd

He posted in a thread called ING - and had a subject marked ING.

Come on Martin prove me wrong ;D

(bet he can't) :P

[lisyloo]

If there is something juicy to come out, then Martin will not be able to release it until he is allowed to.

He will not put his career on the line, simply because you keep going on about it >:(

[trafalgar]

Strewth - how can you think this ;)

Martin posted on the same day as Cahoot was in the press - so it couldn't have been emabargo'd

He posted in a thread called ING - and had a subject marked ING.

Come on Martin prove me wrong !;D

(bet he can't) !:P

I'm not agreeing with the way some of your words are posted but I have just read through the thread and it does appear that info was coming from Martin about ING (IMO)

It was posted on the 23rd it is now 29th...the last money tips went out 25th........................and the next is due in a couple of days ::)
Would it be reasonable to assume that the info was not available to be released by the last money tips ..............and will appear in the next ;D ;D

[isasmurf]

Strewth - how can you think this ;)

Martin posted on the same day as Cahoot was in the press - so it couldn't have been emabargo'd

He posted in a thread called ING - and had a subject marked ING.

Come on Martin prove me wrong !;D

(bet he can't) !:P
I seem to remember that Martin's post was definitely in response to the Cahoot account. Reading through the thread again I can only summise that whoever posted the info on the Cahoot account has since deleted it, which is why it don't make sense anymore. As to the timing of the post if you actually look at the post it was posted 42 minutes into the 23rd June so Martin couldn't have known that the papers were to print it in the papers later in the morning.
As for embargos, they usually aren't worth the paper there printed on as the media gets around it by saying "xxx are expected to report... later today"

So Ian stop trying to damage Martins reputation.

[lisyloo]

Would it be reasonable to assume that the info was not available to be released by the last money tips ..............and will appear in the next

It is entirely possible.

However, what I don't like is Ians attitude of making accusations such as "he has failed to deliver".

I don't think that most of us understand how embargos work in the media and it looks like the thread may have been altered putting Martins comments in a different context.

I also don't see much point in going on and on about it.
Ian seems to want to challenge Martin.
I am sure this is pointless because if Martin has informtaion that he hasn't yet produced it will be because he can't, so trying to goad him in this way will may absolutely no difference.

Come on Martin prove me wrong

(bet he can't)

I am pretty sure that the information is the Cahoot account.
This is possibly because I read the thread becfore it was altered.

I have just checked ING press releases and there is nothing.

[DiggingOut]

Strewth - how can you think this ;)

Martin posted on the same day as Cahoot was in the press - so it couldn't have been emabargo'd



I read Martin's post very early that morning before Cahoot was in the press, and someone had mentioned Cahoot, to which he responded. That person probably removed their post after the news came out, since the post was then obsolete.

I think Martin has a certain amount of credibility on these boards. Every time I've seen him say something is coming out, something worthwhile comes out.

He broke the news on Circle Rebate and people were slow to believe him because even Capital One customer service people were denying him. One by one people are becoming believers as they get notified.

His track record is pretty good.

[lisyloo]

Changing the subject slightly.

Can anyone tell me how I can add another linked account to ING?

My understanding is that you can have 3 linked accounts and I would like to add the Cahoot account.
I can't see any way to do this on the website.

Any ideas anyone or is it a case of ringing them?

The alternative is to go through my current account and loose about 6 days which isn't the end of the world.

[alared]

You may have to ring them and ask for a DD to be set up.
ING: !01189 388 151

Do you know if Cahoot will take a deposit via a debit card.

[lisyloo]

You may have to ring them and ask for a DD to be set up.
ING: 01189 388 151

Do you know if Cahoot will take a deposit via a debit card.

Oh well. I will do it the slow way via my existing linked account.
I don't know about debit cards. The initial page with loads of information on is giving me a runtime error so I can't get any information.
You can do a BACS transfer though (on-line or via phone) as they give you your account details when you log in.

[lisyloo]

Taken from the cahoot site

You can pay in by transferring money from another of your cahoot accounts or, from a non-cahoot account you can either use a cahoot pre-arranged direct debit or contact your other bank quoting your savings account sort code and account number. We are unable to accept cash or cheque payments to a savings account.

So if you didn't et up a DD, then BACS (by phone or interest) is the way to go.

[trafalgar]

I'm not agreeing with the way some of your words are posted but I have just read through the thread and it does appear that info was coming from Martin about ING (IMO)

It was posted on the 23rd it is now 29th...the last money tips went out 25th........................and the next is due in a couple of days ::)
Would it be reasonable to assume that the info was not available to be released by the last money tips ..............and will appear in the next ;D ;D

Please note first half of first sentance in the quote :-/..................Just for information I posted the above because although some of you have read this thread before things were deleted I had not and therefore can see why people would assume Martins statement was !about ING.....................nothing more. There seems little point in arguing about it as Martin is the only one who can clear up to everyones satisfaction what he was talking about ;D ;D ;D

So patience on both sides (accuser and defender ;D ;D)will produce the answer without disagreement on the boards ::) ;)

[lisyloo]

I agree that the thread has become rather confused by the deletion of the preceeding message.

However my experience is that it is better to politely question someone rather than to accuse them.

There are often explanations (like in this case where the message is out of context) and therefore it does no-one any favours to start making accusations until facts are established.

I think we've done this to death now.

[trafalgar]

agreed

[MSE Martin]

OK. Someone was pointing out there was confusion here. Let me clear it up.

The question i was asked was about is ING the best around or can it be beat (or something like that). MY reply referred to the imminent launch of the Cahoot account, it was the day before it became public and was then in my tip last week. That's it I'm afraid - nothing else to report - though Cahoot 5.5% - be fair WOW!

[klondyke]

Getting back on topic for a moment .....

I have often put surplus cahoot dosh into ING, by getting ING to DD. You don't lose any interest ;D ;D

Money isn't moved out of Cahoot for about 3 days after request. Same day it goes out of Cahoot it appears at ING earning interest, but not cleared (ie you can't withdraw it for 3 days).

Re this thing about whether Martin came up with the goods - of course he did. If you're embargoed on something, any, even tiny, hint should not go in the obviously relevant thread, but where the most interested people will find it - he was going to tell us something about 'this' in the next money tips - I read that in context with the previous post as to whether ING will continue to be the WINNER. Answer in next money tip - Cahoot has overtaken ING.

Now be quiet all of you or I'll bang your heads together. ;D ;D

[trafalgar]

"Now be quiet all of you or I'll bang your heads together. "

:o :P ;D

[DiggingOut]

Now be quiet all of you or I'll bang your heads together. ;D ;D

I ALWAYS type very quietly. ;D :P

[Leia_Stephens]

I wish I could, but I have an old-fashioned "clacky" keyboard :(

[MSE Martin]

I read back on this a bit and have seen more confusion - so just for your interest let me clear it up.

An embargo: When you get a press release if it is embargo'd that means they dont want you to print it before a certain point. We journalists generally obey it - because it means we get the stuff early and have time to write a considered piece when something launches. Of course you can break the embargo, but do that and you run the risk of being taken off the embargo'd release llist and not getting the info next time.

Sometimes due to the nature of my work, i get permission to break embargos - in other words I get it first, and know there is no problem because the company says so. Unless it was massively in the public interest i would not break an embargo otherwise, it hurts me, my work and by result the users of this site if i were deprived info.

In this case I wrote the post on the Tue. The story was embargo'd till the Wed, with the account launching on the Thur.

By Wed morning i had amended the Savings account article on the site and noted someone had already posted it (having seen the Express piece) in the Chat Forum. The email was due on Thurs, but we had technical problems so it didnt go till friday.

There you go that's what happened, The embargo wasn't broken and the info was detailed here in full on wed morning the first available moment. The only delay was the tip - but i know regulars tend to have seen most of those before hand anyway

[isasmurf]

The official line from ING according to The Times (http://www.timesonline.co.uk/article/0,,5-1162644,00.html)

According to an ING Direct spokesman, the bank will not make an announcement until we know the outcome of this months Bank of England Monetary Policy Committee (MPC) meeting next Thursday. It is widely forecast, however, that the MPC is unlikely to order a third successive base-rate rise, preferring to wait until August.

Thanks to someone on TMF for pointing this out.

[MoneyBunny]

sounds promissing ;D

[Chillum]

lisyloo: In response to getting a second account linked to your ING Direct account, here's what I did.

I phoned them to tell them that I wanted to link a second account.

I gave them the necessary details.

To finalise this link, like when you first open the account, I sent them a cheque from the new account to be linked.

Once that cheque has cleared, you will then be given the option to move money to and from the newly linked account.

I hope this helps.

Hi,

I've been a reader for a while, but this is my first post.

I'm selling my house, and not moving in to my new one for 6 months.

So I have best part of £50k to stick in a savings account for up to 6 months.

Is ING or CAhoot the best one for me. It obviously needs to be monthly interest with pretty quick access.

Thanks Y'all

[lisyloo]

Cahoot pays annual interest.

Why do you need monthly interest?
Surely you just need to get hold of the original capital.

If you definitely need or want montly interest then ING is best, but a lower rate.

[DiggingOut]

Is ING or CAhoot the best one for me. !It obviously needs to be monthly interest with pretty quick access.



Just to make sure it is clear, if you go with the cahoot annual interest, it doesn't mean you won't get your interest if you take the money out before the end of the year.

If you take your money out and close the account, you will get all the interest when you close the account. If you take the money out and leave the account open, you will have earned interest for all the time the money was in the account -- it just won't be paid until the end of the year.

I apologise - clearly someone had deleted the post - why they were allowed to , is only somethig the site admin can answer - but allowing it after a certain number of minutes, only confuses others.

I was wrong - I will not post on these forums again.

I am sorry. :(

[lisyloo]

Ian - don't leave.
We are all quite friendly here.
It would be a shame to leave just because you got something wrong once.
You have apologised and for me that's good enough.

Maybe try ansking a few questions first next time as usually there is an explanation for something.

I can't see any need to leave - that would be a shame.

[DiggingOut]

Come back, Ian99! You don't have to leave.

Oh, sure, we might ask for a little more sackcloth and ashes, a little more abject repentance, a few more tears. ;)

What you really should do is register with a different name. You can be born again with a new identity, and no one will know who you are! The past is wiped clean. ;D

[trafalgar]

I apologise - clearly someone had deleted the post - why they were allowed to , is only somethig the site admin can answer - but allowing it after a certain number of minutes, only confuses others.

I was wrong - I will not post on these forums again.

I am sorry. :(
Lisyloo is right Ian ,it was a genuine mistake and as you say a post being deleted confused things as well :-/

Don't go , I promise you'll get to like it and theres loads of useful info on this site ;D ;D

Give it a chance.you'll soon be addicted just like the rest of us ;D ;D

[robnye]

ian99

dont go....

the more the merrier.....

your opinion is sorely saught after......

even those of us who are stubborn to change/difference of opinion, sometimes pick up little tidbits...........!

hi all,
pls see this
http://money.independent.co.uk/low_res/story.jsp?story=535153&host=14&dir=356

It says ING is now paying 4.9

Qouted from the link aboveMeanwhile, one of the best monthly interest account comes from Chelsea building society, paying a flat rate 4.65 per cent on its Guarantee 80 account. And check out some of the new, tax-free, mini-cash Isas. Portman building society is offering a compound return of 5.50 per cent a year over 5 years.

But if you want a simple no-frills, instant-access account, the best is still ING, now paying 4.9 per cent.

[robnye]

hi all,
pls see this
http://money.independent.co.uk/low_res/story.jsp?story=535153&host=14&dir=356

It says ING is now paying 4.9

Qouted from the link aboveMeanwhile, one of the best monthly interest account comes from Chelsea building society, paying a flat rate 4.65 per cent on its Guarantee 80 account. And check out some of the new, tax-free, mini-cash Isas. Portman building society is offering a compound return of 5.50 per cent a year over 5 years.

But if you want a simple no-frills, instant-access account, the best is still ING, now paying 4.9 per cent.


the ing website states 4.7% and the following

'We will be raising our savings rate. It will be announced on Friday 9 July following the Bank of England's monthly meeting.'

so either ING are lying or your link has jumped the gun

The ing direct quote above (we will be raising our interest rate) is taken from the ing direct web site, fresh today.

Strange why they haven't declared what they are going to raise it to.

I suspect they are still in delibaration as to whether to raise it to 4.9% or 5%.

5% is more of a round figure that will entice new customers. Either way I've just applied for a new Cahoot (5.5%) account so doesn't matter to me. :)

[david78]

Nor me, I'm getting 7.4%. ;D

My guess is that ING will raise by 0.2% if the bank don't raise rates. But will rais by a bit more if they do.

Sorry if this is old news but just noticed that A&L has increased the rate of there instant access account to 5.1%

According to Moneyextra.co.uk Ing is in joint 6th place. Rates as they stand at the moment is:

1) Cahoot - 5.5%
2) A&L - 5.1%
3) Northern Rock - 4.86%
4) Birm Midshires - 4.85%
5) Yorkshire BS - 4.85%
6) Halifax - 4.7%

(I wait as to what ING will increase thier rate to)

[Norman-B]

7.4% ???

ING's Official response:

ING Direct’s customers may feel quite content with their 4.70 per cent. But they should note that the bank improved its rate by just 0.19 of a point in the wake of May’s base-rate increase and it has not responded to the latest upward move. According to an ING Direct spokesman, the bank will not make an announcement until we know the outcome of this month’s Bank of England Monetary Policy Committee (MPC) meeting next Thursday. It is widely forecast, however, that the MPC is unlikely to order a third successive base-rate rise, preferring to wait until August.

http://www.timesonline.co.uk/printFriendly/0,,1-5-1162644,00.html

[david78]

Yes Norman-B, 7.4% is my AER (net is 5.96%). But then I'm cheating -- I have an offset/mortgage/taxfree thingy.

[david78]

Even if the BoE don't change the rates in July, ING are saying they will raise their rate.

[lisyloo]

My guess is that this is just to reduced admin costs by getting 2 possible rises in one go (although July looks unlikely IMO).

I think my mortgage lender Alliance & Leicester are doing the same thing (with mortgages) as they have usually decided by now.

I think it costs them quite a bit in admin (letters etc) to change an interest rate, so will save them ££££s if they can do 2 in one go.

Noticed it says ING will raise their rate on July 9th on their home page

[isasmurf]

ING's Official response:

ING Direct’s customers may feel quite content with their 4.70 per cent. But they should note that the bank improved its rate by just 0.19 of a point in the wake of May’s base-rate increase and it has not responded to the latest upward move. According to an ING Direct spokesman, the bank will not make an announcement until we know the outcome of this month’s Bank of England Monetary Policy Committee (MPC) meeting next Thursday. It is widely forecast, however, that the MPC is unlikely to order a third successive base-rate rise, preferring to wait until August.

http://www.timesonline.co.uk/printFriendly/0,,1-5-1162644,00.html

I'm getting this deja vu feeling... ;)

[quickquid]

I apologise - clearly someone had deleted the post - why they were allowed to , is only somethig the site admin can answer - but allowing it after a certain number of minutes, only confuses others.

I was wrong - I will not post on these forums again.

I am sorry. :(

Ian I think you must have been looking at Elman's post on June 23 0856 hrs on Cahoot 5.5 topic. He broke the news that Cahoot would be launching a 5.5% deal - he had a press release. Martin just chipped in on the Ing topic where there was a discussion on Ing rates saying he had some exciting news - this was on June 23 12.42 hrs.

[lisyloo]

Noticed it says ING will raise their rate on July 9th on their home page

No this is not correct.
They are making an annoucenment on 9th July.
They could raise rates effective on a different date e.g. 1st July.

There is a little bit more on the pending savings increase on the ing direct web site
fresh today

[Paul_Herring]

There is a little bit more on the pending savings increase on the ing direct web site
fresh today
Yup - and it was 'a little'

We will be raising the rate of interest on our Savings Account.

We will write to all our customers in July to confirm details of the raise and the announcement will be posted in our Press Room on Friday 9th July.
No indication of how much - 0.25% minimum? 0.2%? (Though as previously postulated the amount will probably depend on the BOE's decision on Thursday)
On a another note...
They are making an annoucenment on 9th July.
They could raise rates effective on a different date e.g. 1st July.
Colour me sceptical Lisyloo (or ignorant if they have backdated previously,) but the probablility of a financial institution backdating interest rises on savings (or, for example, rate cuts on mortgages) seems somewhat remote ;)

[Judi]

Ooh goody i might get an extra penny a month interest then. ;D

[Paul_Herring]

Ooh goody i might get an extra penny a month interest then. ;D
Only if they round up :D

[DiggingOut]

Only if they round up !:D

Is that how you get 2+2=5? ;)

[pin]

ING rates are definatly going up, there is an announcement on their website, they will announce the rate rise on 9th July.

[Leia_Stephens]

So, we will find out tomorrow then ;D

I imagine the lowest it could go up to, judging from past experience of their interest rate changes, is 4.9% AER,
but hopefully it will go up to 5.0% or beyond!

Leia

BTW, do many of you savers with ING set up a Regular Saver with them, or just fund your account "as and when", or both ???

[Margaret_Millne]

Nothing as yet in their "Press Room"

[Bleg]

Still waiting.

New rate will be releasd at lunch time today.......

[bonecold1]

After all that buildup........

They've increased it by 0.15%!!!!

http://www.ingdirect.co.uk/html/footer/pressreleases_080704.html

[Judi]

After all that buildup........

They've increased it by 0.15%!!!!


I cant see them holding on to their customers with that rate.

[bluemeanie]

Very disappointing ING. Time to move elsewhere I think.

not very competitive. time to move money out

don't shift your cash until Monday AM otherwise you'll loose 2 days interest over the weekend - the withdrawal will be based on business days only..... ;)

[Bleg]

I am most disappointed. We had better start looking elsewhere. :o :o :o :o :o :o

Time to transfer my savings to Cahoot I think !!!!

0.15% increase ?!?! you have to do better than that ING ! You just lost another customer.

[alared]

I`ve just read their press release a miserly .15% rise but to make matters even worse it does`nt take effect `til 1st August.Talk about rubbing salt in the wound!!!!
Bye Bye ING goodbye

[lisyloo]

I am suprised that you are all so suprised.

It was inevitable that they were going to want to increase their profit margin at some stage.

In a years time SO WILL CAHOOT.

Don't be suprised when they do.

[alared]

Lisyloo I`m a "tart",the same as you.
Unfortunately the boys and girls at Cahoot don`t seem to have their act together in my case as despite getting an email on 27th June saying my application had been accepted I have, to date, not received "hard copy"to sign or anything else.
I phoned them two days ago and was promised "duplicates" and I also emailed them this afternoon.
I expect it`s the old story "overwhelmed" with applications.
As regards ING,i`m very disappointed,so first thing on Monday all my money except for £1 will be moved to my Websaver account (4.7%) awaiting Cahoot getting their finger out.
If the amount of people leave ING that are saying they are going to on this and other boards,ING will be out of business in a week(lol)
All providers rely on customer inertia,no doubt the 5.5% from Cahoot will stay that way for a long time after the BOE has gone a lot higher.

[IvanOpinion]

0.15% seems a bit of short change this time but the cynic in me is saying that they will make a big thing about moving the full 0.25% (or whatever) the next time - even then it it is no longer as competitive as it once was

Ivan

[alared]

Another point is the seven week delay from when the BOE moved `til ING finally doing so.
If only there was a seven week delay when the rates were coming down,most cut their rates by more than the .25% and now they are not putting them up by the full .25%.
Yet another example of rip-off Britain.

[pioneer31]

I think ING are going to slowly let the BOE rates catch up with them, so as to recoup some money (or increase profits). I'm not overly concerned about this, provided that the BOE rates continue to rise.

I feel sure that Cahoot will become uncompetitive after a year and reel in their losses (surely 5.5% is a loss leader for them?)

I'll stick with ING for now as I can't be bothered jumping back and forth and the cash difference I will receive from them isn't worth the maul of applying.

[lisyloo]

I have gone to Cahoot but I have kept the ING account open so there will be no hassle at all in going back.

I intend to do the same. If and when ING become competitive again I will be switching back to them.

On the plus side thier service has been very good and have had no problems with them at all.

[Milarky]

Well, I had assumed they would put rates up by 0.2% - as they have the previous three times. When I first read in about the increase in the paper, it seemed to say their new rate was only '4.75%' (0.05% more)! But this was the 'Gross' rate - not the AER - so I'm a little relieved this increase is more in-line with expectations.

If they now increase at 0.1% less than any subsequent quater point increases by the BOE, they will be at parity if the BOE rate reaches 5.25%.

We will have to wait an see - but I would also point out that Egg will track the BOE until December 2007. This implies, for the long term, that if ING is to remain competitive it will always maintain some differential over the BOE. A sensible differential is 0.1%, possibly?

I will stick some money with ING for the convenience of monthly interest. I'm not convinced they are a busted flush - as they based their marketing on being anything but!

[Leia_Stephens]

I am disappointed by ING's 0.15% rise too :(

I have cancelled my monthly DD with them, but I think
I shall keep about £20 with them and monthly interest will keep this ticking over.

Still, perhaps the next increase will be another 0.15% to take the rate to 5% and then perhaps there will be larger increases later, here's hoping ;D

I think I will use my Smile no-notice a/c for short-term savings, if I remember correctly, each of its recent interest rate rises has been the full 0.25% :), and its got an ethical policy.

I am willing to sacrifise a little interest for convenience of instantaneous money transfers and to be with an ethical bank ;D

Leia

There is now a video message from ING's CEO on thier website. He answers some of the questions like why ING delayed thier rate rise when the BOE increased interest rates in June. But my main question is why is the rate only effective from 1st Aug ? 1st July would have been nicer !

He also admits there are accounts that pay a higher rate of interest but says ING will always pay a good rate and will remain in the top 10.

I agree ING is a great account for people who dont want to keep switching and transfering thier money between different savings accounts.

However because of this website I have become a rate tart !! and Cahoot's 5.5% just seemed too good a deal. However it wouldn't suprise me if I reverted back to ING in 6-12 months time. My account with them is still open and will leave £1 in there just in case.

[Leia_Stephens]

I see your point, mrx :)

It is probably sensible to leave the ING account open, and perhaps ticking over with a little interest ;) whilst "rate tarting" elsewhere ;D

Perhaps the Cahoot 5.5% is the way to go :)

Leia

[alared]

Leia

Don`t leave it too long,Cahoot is supposed to be a "limited offer",maybe only open for two months.

[Leia_Stephens]

Thanks for the advice, alared, I had better get my skates on :)

[Leia_Stephens]

Perhaps this is me being too sensible, but I would suggest to those with ING a/cs that we each keep at least £1 in one, because their interest rate could become competitive again, and we don't want to burn our bridges ;)

Similarly, I dislike Barclays with a passion - in the past they charged me exorbitant interest on a loan, they made me overdrawn from a mistake of theirs >:( and they have sloppy customer service - but I still have £1 keeping my old current account open and I still hold my Barclaycard.

Leia

[Leia_Stephens]

I have just remembered another reason why I left them: their p**-p**r current and savings a/c interest rates >:(

L.

[Leia_Stephens]

It wasn't difficult to decide to move my savings from them to ING ;)

L.

There's no need to keep as much as £1 in. I have kept just 1p in my ING a/c to keep it open. (I probably won't get any interest though). ;D

[Leia_Stephens]

True :), but I do like seeing monthly interest accruing in my ING account :-[ (this is my only a/c which pays monthly interest).

Perhaps I should have just 1p in my old Barclays account :D :D

Leia

[Margaret_Millne]

We have a few accounts with only coppers in them - mainly because the banks really got up our noses about something - so those few coppers are not missed by us, but cost them a fortune in admin ;D

[Leia_Stephens]

I like the sound of that ;D

Currently I have £1.06 in my old current account with Barclays :( - I have just checked :-[ - I have also just tried to transfer 6p to my main Smile current a/c, to keep the nice round figure of £1 in there, but the transaction was refused.

I like the idea of costing them in admin to send me monthly statements telling me I have 6p with them :D, but I would be concerned that the a/c could become dormant or unusable if it only had 6p in for years.

I'm not explaining myself very well but, I like to keep my financial options open: you see I want to keep a financial presence with Barclays just in case Smile don't work out in the long-term.

BTW, MM, how many a/cs do you have with coppers in ???

Leia

[Milarky]

When I discovered - years ago - that you could get 'change' for amounts paid into savings accounts (etc) I started 'rounding' my account balances to at least the nearest whole pound. In theory it makes 'keeping track' that much easier.

Anyway, just to point out that Thursday ING changed the 'login' requirements from 'Pin Number' [That's 'PIN' to me] plus 8 character password to 'Pin Number' plus a memorable date in 'DDMMYY' format - and you have to recite selected characters from each item instead.

[MiserlyMartin]

Leia,

I too hate Barclays for the same reasons as you. I have an old current account with them that I kept open. I moved my current account to Nationwide 5 years ago.

I also thought it would be funny to have them send me statements every month to tell me I have £1 in there, but they don't send me statements now unless I make an 'account movement'

Go with Cahoot. They will be the top payers until at least 3 more 0.25 rises which I can't see happening for 6 months or so. ING they are old news. They should have kept up...sadly ING - RIP.

[Judi]

I have had nothing but good service with ING, and i love having the interest put on monthly, but i must i wouldnt mind putting my money in an account that will earn a bit of extra interest. I am a non tax payer, i want to be able to move it around when i want and i dont want to drip feed it, i just want to shove a lump sum down. Any ideas guys?

[Margaret_Millne]

BTW, MM, how many a/cs do you have with coppers in !???

Leia

Sorry for the delay in replying, just noticed the question.

Mainly a Northern Rock one with less that £1 in it - they refused us a Mortgage 25 years ago after saving with them for years - so we left a little in to get the shares, sold the shares at an appropriate time to make a profit, and then just left a tiny bit in.

Likewise Barclays - our business accounts had been with them for over 25 years. We asked them for a small loan and they quoted us 6% (I think) over what HSBC quoted us for the same loan. So we took all our accounts to HSBC.

We now also have a Goldfish card pennies in credit, just waiting for a special BT deal, and Capital One the same, for the same reasons.

Capital One have never offered us any special deals since the original introductory offer, but has a high Credit Limit so we keep if for "bouncing" between HSBC 3.9% six months and back again.

[Leia_Stephens]

Thank you, MM.

I currently have 6p in my old Barclays current a/c ;D, £1.06 in ING, and £1 in my Halifax Web Saver.

Smile savings and my ISA are a little healthier, £62 and £3,075 respectively ;D.

Leia

[Leia_Stephens]

Oops, I made a slight mistake with my Barclays current a/c balance, I have just checked and it is 5p :-[ :D.

It is a shame that after a while of not using this old B a/c I only get statements when there are money movements into or out of it :(, I was hoping to cost B in admin for sending me out monthly statements detailing such a small amount ;D.

Leia

[Margaret_Millne]

Oops, I made a slight mistake with my Barclays current a/c balance, I have just checked and it is 5p !:-[ :D.

It is a shame that after a while of not using this old B a/c I only get statements when there are money movements into or out of it !:(, I was hoping to cost B in admin for sending me out monthly statements detailing such a small amount ;D.

Leia




Well set up standing orders to bounce a tiny amount backwards and forwards between 2 accounts then.

[DiggingOut]

I have had nothing but good service with ING, and i love having the interest put on monthly, but i must i wouldnt mind putting my money in an account that will earn a bit of extra interest. !I am a non tax payer, i want to be able to move it around when i want and i dont want to drip feed it, i just want to shove a lump sum down. !Any ideas guys?

Open a cahoot account, but keep your ING account open. Move all but £1 to cahoot. When ING catches up to cahoot in 6-12 months, move it back, but keep cahoot open for when their rates are better again.

[hansi]

Mrs Hansi and I have something in the region of 10K in cash Isa's wth IF paying 4.85% and with yearly interest. As Mrs Hansi is a non taxpayer there is little point in keeping her money there. She also has an account with ING also paying 4.85% but on a monthly basis. Would it make sense to move both ISA's to the ING account, one advantage that I can see that you can move money in and out unlike an ISA, but would I make more interest by having it monthly. I can never work these thing out ::) ::)

[MJSW]

If you want monthly interest, why not just ask IF to pay it monthly instead of annually? IF let you choose whether you want it monthly or annually, and you can change your decision up to twice in any 12 month period. However, changing from annual to monthly interest wouldn't really make you any better off, as the monthly rate at both ING and IF is actually only 4.75% (which is equivilent to 4.85% when compounded gross).

If you want a better return, you could consider switching the ISA to somewhere with a better rate (Abbey National postal or Lloyds-TSB for example), or even a Cahoot savings account paying 5.5% (not an ISA) in your wife's name as she is a non-taxpayer. Bear in mind though that whilst your wife may be a non-taxpayer now, if she later became a taxpayer she would not be able to replace the £10k into an ISA once she has withdrawn it. As the annual mini cash ISA limit is to be cut to only £1,000 in a couple of years, it could take 10 years to get £10k back in there!