ING Direct Question

xyz123

Hye

I am looking to open a new instant access savings account to invest ard 15k.

I have following two criterias, i would like interest to be paid monthly and bank should send me regular statements (monthly or quarterly) rather than once a year.

Having done my search i thought ING Direct is offering a good rate at the moment with no withdrawl penalties and also satisfies my above two criterias.

I would like to ask if anyone have got any experices with ING direct and would like to recommend or advise to avoid them? Or if there are any other banks offering same facilities ?

Many Thanks for your time
J

chickmug

Sorry if I am hijacking your post but was about to ask very similar but one more point with me is someone who does joint accounts.

endure

ING came roaring into the UK market promising the moon on a stick as far as interest rates were concerned. Once they'd got enough punters they lost interest and dropped the ball.

Paul_Herring

I would like to ask if anyone have got any experices with ING direct and would like to recommend or advise to avoid them?

Personal experience? Avoid. They're mediocre as far as interest rates are concerned.

Or if there are any other banks offering same facilities ?

If you're sure you won't need it in the next 12 months, you could look at 1 year savings bonds paying around 7%. IceSave, Kaupthing Edge and (one I'd avoid due to customer service, but others have had few problems) ICICI.

lolly5648

I was very happy with ING until they dropped their rates. If you get a good rate as a new customer then go with them because their website is the easiest I have ever used and they have responded quickly to any requests.

Do watch their rates though.

alared

They have a 6.5% rate for new customers which includes a 1.66% bonus for the first year.
Then you`d need to move on.

SouthCoast

I have an online account with Ing and am very happy.

I have actually been in their branches and spoken to their employees.

Paul_Herring

ING have branches? Are you confusing them with another bank?

http://www.ingdirect.co.uk/general/about/

Unlike other banks, we don't have expensive branches to run so we can keep our rates competitive but our costs low.

That said, since they're lying about competitive rates, they may be lying about no branches

rdp1980

Paul_Herring wrote: »

That said, since they're lying about competitive rates, they may be lying about no branches

That made me laugh!! :rotfl:

ING are good in that they send paper statements out every quarter and end of year tax deduction certificate without fail.

That said their original ethos of "one great rate for everybody" and "no gimmicks" has now gone down the route of occasionally offering new types of accounts, introductory bonus rates for new customers, and less than impressive rates for everyone else.

Their web site is easy to use, simple and clear, but as others have said watch out for that "introductory rate" dropping.