ING in mind...

tixiebella

Just seen on the BBC News that the Dutch have raised their limit of compensation to £100,000 Euros...

Limes

Reported here as well:

http://www.dutchnews.nl/news/archives/2008/10/dutch_savings_guarantee_raised.php



EU has decided to raise limit on guarantee scheme from €20,000 to €50,000 BUT the Dutch going a step further and offering guarantees up to €100,000. Seems a better guarantee than most and roughly equates to £80,000 if it's applicable to UK subsidiaries of Dutch banks.

Caudle

I still have about £13k in ING and have been dithering a bit on whether to move it to an institution fully covered by FSCS.

Not sure whether this makes a decision easier or not!

chris1

Limes wrote: »

Seems a better guarantee than most and roughly equates to £80,000 if it's applicable to UK subsidiaries of Dutch banks.

...and as long as they don't treat UK customers differently (like IceSave)...

HOD_3

Is the fact that ING is a Dutch bank does this make it more unsafe than someone like say Barclays ?

elektra

HOD wrote: »

Is the fact that ING is a Dutch bank does this make it more unsafe than someone like say Barclays ?

This is from ING website. Similar to ICE - their compensation scheme kicks in first. Not sure about the last statement - UK customers receive same protection as any UK bank

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.



see new info below in csiman post

HOD_3

I know but does that make them more saver or less so than Barcs

I thought about putting some of my dosh in a high interest 9 month account with Barclays.

I've just had a little sting from ICesave (on a ISA) and should get my money back

csiman

elektra wrote: »

This is from ING website. Similar to ICE - their compensation scheme kicks in first. Not sure about the last statement - UK customers receive same protection as any UK bank

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.

That seems to have been up dated in the last half an hour. Worryingly it now just states:-

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.
• We are covered by the Dutch Investor Compensation Scheme. Click here for more information.
• Under the scheme our customers receive €100,000 (£77,700 approximately) of protection per person.

The FSCS statement has been taken out!

HH62

I've a fair amount invested in ING, which I transferred a couple of weeks ago. I used to save with them when they had a decent interest rate but withdrew my money when they started silly low rates. I kept my account open and they offered me a decent rate to come back.
I need to get 5k transferred to my current account by Friday - and I've been unable to login to my ING account since yesterday morning.
Anyone else unable to access via the web? I'm assuming (hoping) it's just that the site can't cope with the demand, but who knows?
I'll try to give them a call soon because I need that money to pay a builders' bill.

elektra

Thanks csiman - well spotted. I cut and pasted the link from yesterday.

I will be moving my funds out today - need them in a place where I can access and not have to wait to claim funds back.

HH62 - I'm logged on ok.

HH62

elektra wrote: »

Thanks csiman - well spotted. I cut and pasted the link from yesterday.

I will be moving my funds out today - need them in a place where I can access and not have to wait to claim funds back.

HH62 - I'm logged on ok.

Thanks elektra - I've tried it through Egg Money Manager and on the ING website and my password is fine, it just keeps saying the service isnt available.
I'll give them a call. So much for internet banking :rotfl: