Saved by ING (moved most from icesave to ing)

elektra

I know most moved their money out of ING, but a few months ago I moved a bulk of money from ICESAVE to ING websaver. Still have 4k in Icesave but at least can still access ING and have reduced potential loss/wait for money.

Still need to move most from ING as not best interest rate. Is ING covered by UK protection scheme ? edit : website says yes.

Nala

click on 'do foreign banks get the same protection' on this page http://www.moneysavingexpert.com/savings/safe-savings#foreign

and scroll down a bit

Patr100

elektra wrote: »

I know most moved their money out of ING, but a few months ago I moved a bulk of money from ICESAVE to ING websaver. Still have 4k in Icesave but at least can still access ING and have reduced potential loss/wait for money.

Still need to move most from ING as not best interest rate. Is ING covered by UK protection scheme ? edit : website says yes.

Not fully, ING is covered partly by the Dutch Authorities on a Passport scheme in the same way Icesave were with the Icelandic Finance Scheme - with the UK FSCA top up.

elektra

Thanks Nala and Patr100. This is from ING website.

ING Direct is:

• Regulated by the Financial Services Authority for the conduct of UK business and as a Dutch bank, is authorised by De Nederlandsche Bank.
• A Subscriber to the UK Banking Code. Copies of the code are available on request or from www.bba.org.uk.
• A member of both the Dutch Investors Compensation Scheme and the UK Financial Services compensation scheme www.fscs.org.uk

Our customers receive at least the same level of protection as customers of any other UK bank to which the UK scheme applies.