Are You Leaving It In ING

The_Fiddler_2

All you former KErs out there are you leaving your money in ING or are you removing it?

gogsboy

Probably just leave it, see what the rate is.

Don't see it being a big issue, anyone else?

teralin

Has anyone heard whether ING are going to maintain ex KE fixed rate accounts. I have money in 3 year fixed accounts at 7.15% and I would love to continue to get that rate over the coming few years.

dan2097

teralin wrote: »

Has anyone heard whether ING are going to maintain ex KE fixed rate accounts. I have money in 3 year fixed accounts at 7.15% and I would love to continue to get that rate over the coming few years.

INGdirect wrote:

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.

http://www.ingdirect.co.uk/kaupthingedge.asp

I'm personally keeping my money with them; if they don't drop the rates on their fixed term accounts I might even put more into them as they seem a pretty secure bank and the Netherlands has far less chance of running into economic problems if the worst comes to the worst. "Kaupthing Edge's" rate is currently second only to ICICI.

Fraud-at-Kaupthing

No. I am taking everything out. The reasons being:

1 At the end of the day ING is a foreign owned bank and no matter what assurances are given, if the chips are down they will look after the core business in the Netherlands and cut off the peripheral businesses.

2 As they are foriegn owned it is always going to be more difficult to reslove any issues should anything go wrong. Icesave and Kaupthing edge seemed fine when it was all going well.

3 I don't think ING have handled the takeover of KE very well from a customer service perspective which points to that being their business culture.

4 I am looking for security at the moment and believe that a British (taxpayer) owned bank is more secure.

But overall the main reason is the way ING have managed the problem, and I would rather not give my business to a company that is run in that way.

MimiJane

I'm leaving the bulk with ING for now. They may not be 100% "safe", but where is?

However, I will be opening other accounts in the UK with enough money in them to keep me going, should anything go wrong with ING.

ING have not handled the CHAPS/BACS transfer well and I am (with thousands of others) waiting for money to reach my nominated account. However, we have to remember that this is an unprecedented case and there are no "rules" as to how much information they feed us with. It's obviously chaos with the Kaupthing takeover and the ING staff have, I believe, been working tremendously hard to clear the back-log.

Hopefully all/most monies will be returned by Friday and it won't be too long before it's business as normal.

deep_pockets

i am leaving money where it is for the moment.

however it would be usefull for ING to clarify the issue of what the interest rate will be, for my ex kaupthing a/cs

CHR15

6 Days ago I did a CHAPS transfer to empty my KE account, still waiting. It left KE immediately but is currently sittting Who knows where!!

The Icelandid bank have set a precedent with their theft of billions of foreign investment. If our government didn't step in to help us, we would have all lost everything in Icesave.

Icesave is a Lucky escape and a HUGE warning that our money is not safe in foreign banks.

DocProc

I am leaving my money with ING in the ING Direct Internet account.

It's 'new money' as mentioned below and I was e-mailed by ING about this on 22.9.08 thus:-

[FONT=Verdana, Arial, Helvetica, sans-serif]There has never been a better time to save with ING Direct. We offer great rates and the reassurance that your money is safe and secure. As an ING Direct saver, any additional savings deposited into your ING Direct Savings Account(s) between 19 September and 10 October 2008, will enjoy a higher rate of interest. It's an exclusive rate to make you feel really good about saving with us. [/FONT]

[FONT=Verdana, Arial, Helvetica, sans-serif]How does it work?
Enjoy 6.6% equivalent AER (variable) for up to 6 months on any additional savings you pay into your savings account between 19 September and 10 October 2008. This means that any savings you put into your account over the amount you held on 19 September 2008, will earn the bonus rate until 19 March 2009. Meanwhile, your existing savings will continue to enjoy a rate of 4.75% AER (variable).[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]How is the bonus interest calculated?
Interest is calculated daily on credited and cleared funds above your opening balance on 19 September 2008 and will be paid on 20 March 2009. Bonus interest will not be earned on your ING Direct Savings Account monthly interest or on internal transfers between ING Direct accounts or additional accounts opened during the period.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]What happens if you need to withdraw your money?
You are still able to withdraw money at any time during the bonus period.
The bonus will be calculated up until the date of withdrawal.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]Your savings are safe and secure
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]ING Group is a global financial services company providing banking, investments, life assurance, and retirement services. We are one of the 20 largest financial institutions in the world with one of the highest credit ratings in the financial services industry, as such, your savings are safe and secure with us.[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT]

Jonbvn

Fraud-at-Kaupthing

With such a user name, it is somewhat difficult to take your points seriously.

cos69

Leaving my fixed rate savings with ING now they have said they will honour the rates.