The Top Easy Access Savings Discussion Area

Baldur · 22 October 2009 at 3:46AM

I've had various accounts with them since 2005 and never had any problems.

ING have a tendency to offer headline grabbing rates which then dwindle away - when this happens, I simply move my funds elsewhere.

Deposits are covered by the Dutch depositor compensation scheme, rather than the UK FSCS.

D1zzy · 22 October 2009 at 6:56AM

Don't have an account anymore I got fed up of them dropping their rates as soon as I'd set up an account - but at least you have a year on the current offering. The good thing about them was that although transfers out went BACS, I never found a limit on what could be moved to your linked account in a single transaction - £30,000 was the largest amount I transferred.

reg_mcledge · 26 October 2009 at 9:15AM

Hi all,

I am just coming to the end of my 1 year fixed rate regular savings account with Barclays this month and would like some advice on where to switch my savings to next! It is currently fixed at 5% but will revert to 0.2% on 1st November so am obviously looking to avoid that! I currently save £150 per month and have about £1900 to date.

I also have an ISA and have used my allocation for that so am looking for another savings account.

I have looked and researched a few regular savers accounts but they tend to have a max limit of what you can pay in each month which leaves me with the problem of being unable to move the balance of my savings account to any new regular savings account. I dont particualrly need regular access to the money either.

As such I was just wondering whether anyone had any ideas!?!

Sorry for the long post!

Thanks!

A1_Saver · 26 October 2009 at 6:30PM

Vegeta wrote: »

Are ING Direct reliable and trustworthy?

I have only had good experience of them and if you join at the moment using the codes below we both get £25 for free

Promotion code MGM018
Promotion ID E5D2f4

0800 183 1088 or via the ing website ING.co.uk

Happy opening :money:

Vegeta · 26 October 2009 at 10:22PM

Baldur wrote: »

Deposits are covered by the Dutch depositor compensation scheme, rather than the UK FSCS.

What is the compensation limit for a joint account with the Dutch depositor compensation scheme?

I know with the UK FSCS it is £100,000.

barak · 28 October 2009 at 9:35PM

Vegeta wrote: »

What is the compensation limit for a joint account with the Dutch depositor compensation scheme?

I know with the UK FSCS it is £100,000.

ING's Terms & Conditions refer to the Dutch Central Bank’s Deposit Guarantee Scheme at
http://www.dnb.nl/en/home/index.jsp
which includes the following -

Who may claim compensation under the DGS?
Private people and small enterprises (specifically: enterprises allowed to publish a summary balance sheet) are eligible for compensation under the DGS. A small group of private people are excluded from compensation under the DGS: directors of the bank in difficulties, persons holding a 5% or larger stake in that bank and close relations of such persons. Certain categories of enterprises are also excluded, such as financial undertakings and government bodies.

What amount is guaranteed by the DGS?
The Deposit Guarantee Scheme guarantees an amount of EUR 100,000 per person per bank (regardless of the number of accounts held). Two persons holding a joint account ('en/of-rekening') each qualify for full compensation. This means that a joint deposit of EUR 200.000 on an "en/of"-rekening is fully covered, if both depositors fulfill the other requirements.

Andrew_Mc · 3 November 2009 at 4:13PM

:money:Hi, I think I've found new highest instant access account, paying 3.6%.
It's the Pathway account with Ulster Bank.

That's some rate!!! It drops after 6 months, but no penalty and you get a card to withdraw as well. I think this is a very good deal. Thoughts?

poppy10_2 · 3 November 2009 at 5:32PM

Andrew_Mc wrote: »

:money:Hi, I think I've found new highest instant access account, paying 3.6%.
It's the Pathway account with Ulster Bank.

That's some rate!!! It drops after 6 months, but no penalty and you get a card to withdraw as well. I think this is a very good deal. Thoughts?

It's only 2.6%, there is a 1% bonus for the first six months only. Over the year it works out at 3.15%. Interest is paid annually.

You have to keep the balance above £10,000 the whole time, otherwise the rate falls to a nominal amount.

It's an OK deal, but not exactly a clean account, not worth the hassle IMHO.

Andrew_Mc · 4 November 2009 at 1:22PM

Thanks Poppy10. I do think it's a very good deal for people with over £10k, especially the first 6 months. I can't find anything approaching 3.6% and there are no penalties or notice for withdrawing. I think it's pretty clean. I also checked out Ulster Bank and they are covered under the financial compensation scheme too.

I think I'll invest some of my hard earned!!

bazster · 4 November 2009 at 4:09PM

If you fancy the Citibank instant access account at 3.3%, and you want it to be a joint account - tough! You can't open a joint account through the website, and if you 'phone the number given on the website, a recording tells you to...go to the website! You are given no other options (speak to a hooman bean? No chance!), you can't even email them.

Could snail-mail them, but if the idiots can't even get this stuff right I wouldn't trust them with my money anyway.

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