ING - stick or split?

LongTermLurker

ShelleyC wrote: »

Not quite sure where it'll go but a big safe appeals :rotfl:

How much does a good quality safe cost, and what percentage of your savings would that be?

Add that to the 7.15% already "lost" because you've received no interest (feel free to deduct the income tax you would have paid) and then add on the 5.x% inflation that will be eating into your cash, and take the grand total as a percentage off of your savings - that's what they will be worth in a year.

I guess once you know that, it's a case of risk vs reward.

ed123_2

...its interesting to look at the Dutch compensation site (can't do links). under eec rules they have to pay out in three months. The forms have ALREADY gone out and they are asking people to contact them if not received by 22nd October

ed123_2

....just seen another "little" clause re the Dutch compensation scheme (which ING conveniently does'nt mention) the 100k euro scheme is for a year ( from 7/10/08) which if you have a three year KP account is rather worrying.( as the previous limit was 20k euros.

Money_Grabber13579

Ivana_B_Rich wrote: »

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

I think the main problem with Iceland is that they had a guarantee, but no money to cover it because they're such a small country. Also, not being part of the EU, they get no help from there either.

With ING however, Holland is a much bigger country, part of the EU and hence should have money in the pot, the same as the UK. Then if things go pear shaped with them, they're in a much better position to borrow as well, as there's no exchange rate risk with being in the euro.

Not that I advocate joining the Euro, of course!:rotfl:

Jonbvn

Just to clarify. The KE fixed term account for 3 years is 7.76% gross, 7.15% AER. This means that the break rate (assuming ING honour this) is still 6.76%, somewhat better than the instant access account rate of 6.36% gross. (6.55% AER).

vigman

chardir wrote: »

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

hmmmmm, I've always wondered about finding a loan at less than a savings rate, then borrowing loads, investing it and enjoying the interest:rolleyes:

Vigman

Caudle

I had money with Kaupthing (Icelandic), ING (Dutch) and FirstSave (Nigerian).

ALL savings in these have been removed although I've kept the accounts open with a pound in each.

Why? Kaupthing/ING are now wholly covered by the Dutch compensation scheme. As regards FirstSave there is no particular logic as it is still covered by FSCS; but it just doesn't appeal to have cash in a Nigerian-owned outfit any more, somehow!

anovic

I've always found ING good and the customer care line was efficient. I still feel confident saving with them. I think rates are going to be a bit less attractive with most accounts in the future so I'm not planning on moving.

Baldur

I'll probably stay with ING, at least in the short-term, to assess the situation when we have some more tangible information regarding their stated intention to honour fixed term rates.

Dan29

ed123 wrote: »

....just seen another "little" clause re the Dutch compensation scheme (which ING conveniently does'nt mention) the 100k euro scheme is for a year ( from 7/10/08) which if you have a three year KP account is rather worrying.( as the previous limit was 20k euros.

If it did revert to €20,000, the remainder of the first £50,000 would be covered by the FSCS.