Are You Leaving It In ING

shown73

I've sort of defended ING all along, and as a european High St bank, I still don't think they are any more likely to go down than any of ours. So, even with the dodgy internet shutdown last night I still wasn't worried. What really did it for me, though, was logging on today to find that my web saver account, recently topped up with Icesave withdrawals, had suddenly dropped from over 6% to 4.89%, and this is trumpeted as the bonus rate until next March. I suppose it must have had the word, "variable," in the t&c's somewhere, but I thought that when they said that 6.4, or whatever it was, would be payable until March, that they meant it. Why does ING keep shooting itself in the foot? I want to like them, really, but they keep costing me money.

MKUX3

i cannot understand it.

people who have fixed term bonds with KE are saying they have broken the fixedterm, yet i have FTD with Heritable now ING and when i have written and phoned i am being told i cannot do anything until maturity.

where am i going wrong?

harry_w

amistupid wrote: »

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

It's a good piece, highlighting the subtle difference from the Brown/Darling plan (the Tories didn't have one), and the Dutch scheme.

I think the Dutch intervention looks a little bit more adroit than the British one, perhaps they've waited, watched and learnt from those who've gone before.

I'd like to think the government supervision of ING would be similarly adroit and return them to their original product line of no gimmick accounts instead of split rates that disadvantage established customers but reward new customers and refugees from other institutions.

Baldur

MKUX3 wrote: »

people who have fixed term bonds with KE are saying they have broken the fixedterm, yet i have FTD with Heritable now ING and when i have written and phoned i am being told i cannot do anything until maturity.

The terms & conditions of Kaupthing fixed deals permitted breaking the term with loss of interest.

Did the Heritable terms & conditions have the same provision?

Paul.J.M

people who have fixed term bonds with KE are saying they have broken the fixedterm, yet i have FTD with Heritable now ING and when i have written and phoned i am being told i cannot do anything until maturity.

where am i going wrong?[/quote]


You have 2 choices.

a. Keep it there until it matures, you will get heritables FTD rate guarenteed.

b. Phone them and break your FTD, you will lose 1% of the initial FTD rate, and they will transfer your money back to your linked account.

Paul.J.M

[b. Phone them and break your FTD, you will lose 1% of the initial FTD rate, and they will transfer your money back to your linked account.[/quote]


Sorry, i was thinking of KE 1% loss, not to sure if Heritable is the same, it probably is?

ExBanker_2

Personally i have moved all my money back into uk banks, not because i don't feel it was safe with Ing.. but because as uk citizens we should support our economy. Why let another country benefit from our earnings?

Added to the fact that uk banks have a cast iron, government backed £50k deposit gaurantee- i'd rather deal with the uk authorites than the dutch if the worst did happen.

MKUX3

i did try and phone heritable but they said i cannot close account (FTD)

has anyone else with Heritable FTD tried to close their accounts?

help appreciated here

dag_2

Although I had less than £50,000 with KE, I still think it was too much with one organisation, so I'll be spreading it about a bit more evenly once the payment difficulties have passed. However, I'll still leave some of it with ING anyway, as long as the interest rates are competitive.

In fact - the talk of potential interest rate drops has spurred me on to take a KE 6-month fixed term deposit, which I bought after ING took it over. I mean, hey, can't get the money out for the time being anyway, so, what's the point in not buying a fixed term deposit?

Steve_xx

ExBanker wrote: »

Added to the fact that uk banks have a cast iron, government backed £50k deposit gaurantee- i'd rather deal with the uk authorites than the dutch if the worst did happen.

That's not quite how it is. The UK 50k guarantee is operable on any bank licenced to take deposits in the UK, ie it is not exclusive to those banks that we like to call UK banks.