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£100 reqd to keep KE (now ING) account open
Squibbler
Posts: 298 Forumite
Hi
When i opened my KE account I'm sure it said that to keep account open it required £100 to be in there. Lots of people seem to have withdrawn all but £1, in case they want to re-use the (now ING) account in the future. They are hoping ING may honour the KE rates.
Won't dropping below the £100 limit mean that they are automatically switched to a lesser rate type account anyway (under KE rules), even if ING Direct do honour the KE rates?
When i opened my KE account I'm sure it said that to keep account open it required £100 to be in there. Lots of people seem to have withdrawn all but £1, in case they want to re-use the (now ING) account in the future. They are hoping ING may honour the KE rates.
Won't dropping below the £100 limit mean that they are automatically switched to a lesser rate type account anyway (under KE rules), even if ING Direct do honour the KE rates?
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Comments
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The £100 was the minimum balance in order to receive interest, not to keep the account open - see section 7.5.2 of the Terms & Conditions.When i opened my KE account I'm sure it said that to keep account open it required £100 to be in there. Lots of people seem to have withdrawn all but £1, in case they want to re-use the (now ING) account in the future. They are hoping ING may honour the KE rates.
Won't dropping below the £100 limit mean that they are automatically switched to a lesser rate type account anyway (under KE rules), even if ING Direct do honour the KE rates?0 -
Ah Ok thanks - looks like I need to take another £99 out then...
Hmmm wonder when it'll be safe to do so....0 -
Baldur is right - if you have less than £100 you dont get any interest but the accn is still openKeep the Faith:cool:0
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I kept 4.74 in my account.
Nice even figure
;) 0
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