Are You Leaving It In ING

amistupid

What does ING stand for?

I nterest
N ot
G ood

Paul.J.M

ING have promised to honour all FTD accounts at KE interest rates. What i want to know is, has any body tried to put money in there KE/ING FTD account, in other words will they except new money in to a new FTD paying existing KE rates, 7.15%. ????

Anybody know please tell me?

dach

I bought a 1 year deal, £1000 @ 7.15%, this morning. went through ok

Paul.J.M

Thanks for that dach, I am slightly surprised they are still keeping their attractive FTD rates, thats good news, i wonder how long they will keep it on offer? i am waiting on 2 cheques to arrive if they are still offering the 7.15% i am putting more in.

veronica46_2

Fraud-at-Kaupthing wrote: »

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.

I agree with you- although i don't think your moniker is going to make people listen!

wheelz

I don't know what to do, at first I wanted to leave it in ING Direct but I've heard that they are expecting their first loss ever (see below). I've read somewhere else that shares (in america it was I think) have fallen by 30%. My alternative would be transferring it all back to a Nationwide e-savings account. Have to look up how Nationwide have been faring lately first.

http://in.reuters.com/article/businessNews/idINIndia-36035420081018

ING considers options to shore up capital

Sat Oct 18, 2008 7:54pm IST

var storyKeywords = ""; var RTR_ArticleTitle = "ING considers options to shore up capital"; var RTR_ArticleBlurb = " By Catherine Hornby AMSTERDAM (Reuters) - Dutch financial group ING is considering several options to shore up its capital position, including taking government money, to keep up with rivals which have raised the bar on solvency levels. ..."; var showComments = false; var allowSLCall = false; function singlePageView() !! document.location.href = ReplaceQueryStringParam(document.location.href, "sp", "true"); } function replaceString(oldS, newS, fullS) !! // Replaces oldS with newS in the string fullS for (var i = 0; i < fullS.length; i++) !! if (fullS.substring(i, i + oldS.length) == oldS) !! fullS = fullS.substring(0, i) + newS + fullS.substring(i + oldS.length, fullS.length); } } return fullS; } [URL="javascript:commonPopup('/do/emailArticle?articleId=INIndia-36035420081018',%20540,%20600,%201,%20'emailPopup')"]Email[/URL] | Print | Share
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By Catherine Hornby
AMSTERDAM (Reuters) - Dutch financial group ING is considering several options to shore up its capital position, including taking government money, to keep up with rivals which have raised the bar on solvency levels.
"If you look at our capital position it is completely on-target but if you look at the playing field, it's changing," an ING spokesman told Reuters on Saturday.
"A lot of companies are now raising the bar."
ING, the Netherlands' biggest listed bank, said on Friday it expected its first quarterly loss ever, hit by financial market turmoil and falling asset prices. That sent its shares to a 13-year low.
The spokesman said on Saturday the bank was considering several options to raise capital, including tapping a 20 billion euro ($27 billion) Dutch government programme to inject capital into healthy financial institutions.
"We are looking at it and we have various options. One of the options is the plan provided by the government and another option would be a non-governmental solution," he said.
"We are not in a hurry, we are not in a rush to do it. We feel that we are still in a good position and we will do this in a disciplined way," he added.
He declined to comment on a possible timeframe for a decision. [URL="javascript:goToPage(2);"]Continued...[/URL]

Pssst

I agree with Fraud at Kaupthings views, i have pulled my wad out of ING and brought it back within the UK.I dont trust any foreign bank. If Icesave can rip people off,so can ING. Funnily enough i got a letter from ING this morning reassuring me of how good and safe they were. The icesave website said the same thing on the day before they stole my money. I'll bet ING are seeing a loss of deposits from UK investors who are pulling money out

uk_steve

How do you take money out when its fixed savings online? I am now thinking to bring it back to the Uk i have 27k in total with this lot, 25k 1 yr fixed and 2k in the normal account (is it a tel call to do so?)

natman

Hi folks -
I too have been pondering what to do with my foreign savings accounts.
I have a Kauthping/ING Savings account with a 1 year fix term bond
£2000 in savings £2000 in fix term account

I have an ICICI Savings account and fix term bonds
£2000 in savings £7000 in fix term bonds.

Let me start with ING. Some startling news cama about on friday - http://www.iht.com/articles/ap/2008/10/17/business/EU-Netherlands-ING.php
Basically highlighting some worries with ING.
I personally had an ISA and savings account with ING and they were really bad with maintaining interest rates in the long term so i am not a big fan

Ok now ICICI. I have personally been happy with this account for 18months but.....................................................

This is for both foreign accounts - i really beleive bringing money back onto home soil will be positive in 2 ways.
1. feel safer with the protection i.e uk money in uk bank.
2. my savings along with all others in the uk may help financial situation in uk. i.e if a large percentage of savers who have money saved in another country bring it back this could help the liquidity of the economy etc.

Any how, i have opened up a Bradford and Bingley account and yorkshire buiding society to drag my funds from abroad into the UK.

I dont know if this is right or not but it just feels better somehow!!!!!

foreverbrassic

In the event ING were to collapse and the Dutch govt had difficulties sorting the compo out surely the UK Govt would step in and sort it .... after all it was them that put peoples savings in ING in the first place!