ING - stick or split?

Wolf_Man

Had money in Icesave, KE and Heritable.

Now that ING has got Heritable and KE (fixed) I will have to move money out of them.
I have seen no guarantee that ING are going to keep the KE interest rates?

justaquickie

I'm currently giving this a lot of thought. I've always found ING customer support to be excellent (Icesave and KE were pretty good too). Sure they hit the scene with great rates and then pruned them to death and hoped we wouldn't notice, and some of their offer tactics are slightly iffy. But, on the whole, I consider them to be sound. It does seem a great pity that Haarde's 'Icelanders first' warcry has scared so many off passport compensation schemes when - for all we know - the Dutch may take a more egalitarian view if faced with a similar scenario. On the other hand, is it so unusual for a government to be more interested in local voters than fairness?

Other than ringfence deposits under the (UK) FSCS scheme, I don't know what ING or other non-UK banks could do to gain my confidence.

hari2000

just moved my 15k out don't trust ING whatsoever with that passport scheme nonsense and what happened with Icesave, will be sticking with English banks from now on.

sirhobo

Wolf_Man wrote: »

Had money in Icesave, KE and Heritable.

Now that ING has got Heritable and KE (fixed) I will have to move money out of them.
I have seen no guarantee that ING are going to keep the KE interest rates?

ING will honour KE fixed rate deals
http://www.ingdirect.co.uk/kaupthingedge.asp

"FIXED TERM PRODUCTS UPDATE
Those customers with deposits in a Fixed Term Savings product can be assured that these rates will be honoured by ING Direct."

TechnoBoy

Money moving out ... to our Mortgage provider and should arrive tomorrow. About 2% less, but it's in a safer place should everything go wrong again, which chances are it probably will.

Actually we moved everything to the Mortgage provider, 2% interest is not worth the stress.

I really like my Icesave money back too.

Ivana_B_Rich

No from me too. I had money in Icesave and KE, my KE money is still missing in action and still no claim details for Icesave.

No more passport schemes
No more money in other countries

chardir

TechnoBoy wrote: »

Money moving out ... to our Mortgage provider and should arrive tomorrow. About 2% less, but it's in a safer place should everything go wrong again, which chances are it probably will.

Actually we moved everything to the Mortgage provider, 2% interest is not worth the stress.

I really like my Icesave money back too.

I hope you're actually paying off the mortgage balance or offsetting, otherwise you're paying the bank to lend you your own money!

TechnoBoy

chardir wrote: »

I hope you're actually paying off the mortgage balance or offsetting, otherwise you're paying the bank to lend you your own money!

Our mortgage balance is a lot more than our savings! The Savings rate is still higher than our mortgage rate - so can't complain. And no point paying any of the mortgage off with it either

chardir

TechnoBoy wrote: »

Our mortgage balance is a lot more than our savings! The Savings rate is still higher than our mortgage rate - so can't complain. And no point paying any of the mortgage off with it either

Fair enough! That's a pretty good mortgage rate if it's more than 2% under an ING savings rate.

polus_

Has anyone else confirmed what interest (if any) you receive if you pull out of a 6month fixed term account?

Ive looked in the terms and conditions and found 0.3% above base rate but someone else on here stated 6% and Im not sure its referring to a fixed term account in the t&c.

The longest my account will be with ING is a couple of months until the fixed term ends or sooner if I get 6% ending the term early.