Are You Leaving It In ING

Steve_xx

skyt wrote: »

I was fortunate enough to have my savings with KE 'rescued' by ING -I had the proceeds of selling my house there, so I was very relieved!- I was going to spread the money round but the process of opening accounts is so tortuous that I'm inclined to leave it where it is.
It seems can take weeks to process all the ID checking and by the time I've opened 10 accounts to cover me with the FSA guarantee it will be too late anyway...

No, no, you really should not keep all of your eggs in the one basket. It is most prudent for you to open additional accounts with other institutions, thereby reducing any risk to the absolute minimum. I would suggest that you put not more than about 45k in each of them, thereby allowing for interest to accrue, taking the balance upto the 50k guaranteed point.

webdigga

skyt wrote: »

I was fortunate enough to have my savings with KE 'rescued' by ING -I had the proceeds of selling my house there, so I was very relieved!- I was going to spread the money round but the process of opening accounts is so tortuous that I'm inclined to leave it where it is.
It seems can take weeks to process all the ID checking and by the time I've opened 10 accounts to cover me with the FSA guarantee it will be too late anyway...

I'd be inclined to take the advice in the previous post

Bromley86

Or dump it all in National Savings. It's not worth messing about with your money if you may need it to complete:
http://www.nsandi.com/

skyt

webdigga wrote: »

I'd be inclined to take the advice in the previous post

Quite agree with the advice of course, but actually doing it takes so long if each bank insists on seeing 'original documents' in turn.....

MiserlyMartin

Is the Dutch government nationalising ING?

• No, ING is in a position of strength. This investment is a sign of confidence from the government and a reinforcement of ING’s financial position amid market turmoil.

What a load of rubbish! If the dutch government were that confident about ING then there would be no need to anything to be happening!

I'm moving my money out of the bank for something that is protected by the UK FSCS, ICICI. I'm rather annoyed that our government siezed my savings abusing terrorism laws and transferred it to a bank wihout UK FSCS protection, one which I had no choice over.

dartmoor_liz

As ING are having a handout from their own government, it doesn't make them look too safe does it?

asd030

"ING DIRECT
Saving feels good"


Oh the irony...

---

It's enough to make yer badly

amistupid

Just read this and have decided to leave my transfered KE savings with ING

http://www.telegraph.co.uk/finance/breakingviewscom/3230247/Financial-crisis-INGs-10bn-bailout.html

Bromley86

As ING are having a handout from their own government, it doesn't make them look too safe does it?

As people keep pointing out, there's no substantive difference between that and all the UK banks bailed out a week or so ago. Withdrawing your money from them?

MKUX3

i have no option but to leave my money with heritable now ING as it is fixed and does not mature until may 09. ihave 15 k hubby 35K