ING Direct websaver 6.6%

dougz_2

Milarky wrote: »

The rate has probably gone done by 0.5% today.

I am happy to report my hopes are confirmed and it hasn't gone down :T
It is still showing a solid 6.41% gross (6.6% AER) on my account, even though the non-bonus websaver rate went down 0.5% yesterday. So its like a fixed term return but with instant access, a real bargain. I shall be moving more into it ASAP.

Milarky

dougz wrote: »

I am happy to report my hopes are confirmed and it hasn't gone down :T
It is still showing a solid 6.41% gross (6.6% AER) on my account, even though the non-bonus websaver rate went down 0.5% yesterday. So its like a fixed term return but with instant access, a real bargain. I shall be moving more into it ASAP.

Spoke too soon! Login and see that the terms have changed as follows

Enjoy 6.09% AER* (variable) on any additional savings you pay into your Web Saver between 2 September 2008 and 2 March 2009 (inclusive).

This means that any savings you put into your Web Saver over the amount you held on 2 September 2008, will earn the variable bonus rate until 2 March 2009. Meanwhile, your existing savings will continue to enjoy a rate of 4.50% AER (variable)

Information correct as at 15/10/08.

So it looks as though Websaver rates were reduced at the same time as the others were - just as advised here!

*That works out as 5.93% 'gross' - or 0.49417% per month before tax

dougz_2

Where exactly do you see that Milarky? Maybe it is a different personal offer they are giving you. When I log into my account I still see

ING Direct Web Saver Account-xxxxxxxxxx

Bonus interest rate of 6.41 % on balances over £ 0.00 until 02-Mar-2009
Current variable interest rate of 4.41 % on balances up to and including £ 0.00

Which equates to the 6.6% AER I was promised, and will officially complain if they don't honour.

Milarky

dougz wrote: »

Where exactly do you see that Milarky? Maybe it is a different personal offer they are giving you. When I log into my account I still see
Which equates to the 6.6% AER I was promised, and will officially complain if they don't honour.

It appeared as a banner image saying 'up to 6.09AER' on the login page ('Accounts Summary') just about the list of accounts, yesterday. If you clicked on it it brought up the details - I saved the image to my desktop and took the information from that.

It does not appear this morning, I agree - no banner - and when you select websaver it is still saying '6.41' is payable. BUT your information above has changed where it says '4.41%' is the current variable rate on the Websaver - that was '4.89%' (see this post) previously - and the bonus was/is 1.52% but would need to have been increased (to '2%') for the '6.41' (which was '6.4' previously) to apply. I would assume they have messed up the on-screen information here but that the interest rate actually has been reduced on the same date as the others.

(Time will sort this one out)

DubDriver

I phoned ING today to ask how they can be allowed to reduce interest rate to 6.09 AER as per letter received today after previously promising 6.6 (by email) until 2nd March. No mention in that email that they could still reduce interest if the Bank of England base rate changes yet this was the explination I was given during the call and confirmed that I am no longer getting 6.6.

old_oak

DubDriver wrote: »

I phoned ING today to ask how they can be allowed to reduce interest rate to 6.09 AER as per letter received today after previously promising 6.6 (by email) until 2nd March. No mention in that email that they could still reduce interest if the Bank of England base rate changes yet this was the explination I was given during the call and confirmed that I am no longer getting 6.6.

I also phoned this afternoon got transfered to 3 departments before being told "the bank reduced rates by .5% so they had to follow"told them since when have they shadowed the bank rate.Got no response to that but they explained 4.8% of this rate was vairable and the 1.7% was fixed.I think this is a pretty poor show by ING will be withdrawing my money.