Breaking News: Ing

Paul_Herring

baby_boomer wrote: »

To cwcw
There was no "emergency" story about ING before this weekend from the financial journalist bloodhounds or from the markets, so I can't see why it's warrants being described as an emergency.

Because the other banks the media have been picking on have been made bankrupt, and they have nothing better to write about?

meanmachine_2

I don't mean to panic anyone, but...

The ING Direct website isn't permitting deposits or withdrawals.

Sound familiar...?

"Thank you for contacting ING Direct.

All of our systems are currently being updated and unfortunately you will be unable to access your account until 4am on Saturday the 17th of May 2008.

We apologise for any inconvenience this may cause you."

baby_boomer

Purely a precautionary measure, I'm sure. At least it means everone's in the same boat.

cwcw

If the website is now having "technical problems" then I fear things could be getting worse. If thousands of customers are panicking this could collapse the bank in any case. It's easy to say "don't panic", like people were telling me with Icesave on Monday 6th October, but at the end of the day if your hard earned money is at stake and everyone else appears to be doing the same it's difficult not to.

I only have about 7p in ING. However if I had more, because the protection is provided by the Dutch and not UK government, that would be reason enough for me to shift all my savings out of there ASAP and into an institution (not necessarily British) fully covered by the UK FSCS. Yes, your money in ING is protected, but the time it will take to get it back and stress involved will surely be greater than if dealing entirely with a UK compensation scheme.

Coolfonz

it doesnt say its having technical problems, in speech marks or not

Joe65_2

meanmachine wrote: »

I don't mean to panic anyone, but...

The ING Direct website isn't permitting deposits or withdrawals.

Sound familiar...?

"Thank you for contacting ING Direct.

All of our systems are currently being updated and unfortunately you will be unable to access your account until 4am on Saturday the 17th of May 2008.

We apologise for any inconvenience this may cause you."

Surely that's perfectly normal for any bank on a Sunday night , as that's when most of their machines will have run out of cash

Coolfonz

it also doesn't say Saturday 17th May 2008...odd stuff

1echidna

cwcw wrote: »

If the website is now having "technical problems" then I fear things could be getting worse. If thousands of customers are panicking this could collapse the bank in any case. It's easy to say "don't panic", like people were telling me with Icesave on Monday 6th October, but at the end of the day if your hard earned money is at stake and everyone else appears to be doing the same it's difficult not to.

I only have about 7p in ING. However if I had more, because the protection is provided by the Dutch and not UK government, that would be reason enough for me to shift all my savings out of there ASAP and into an institution (not necessarily British) fully covered by the UK FSCS. Yes, your money in ING is protected, but the time it will take to get it back and stress involved will surely be greater than if dealing entirely with a UK compensation scheme.

Is there any reason why the UK authorities should be faster than the Dutch authorities? In any event it might be prudent where one has large amounts to spread them between jurisdictions where these are strong ones.

Money_Grabber13579

It's normal for a bank to update their website and restrict access. Nationwide do it almost every night. It's usually after midnight though.

Coolfonz

what it actually says, rather than what the erroneous posters have written, is "systems are currently being updated and unfortunately you will be unable to access your account between 9pm on Sunday 19th October until 4am on Monday 20th October."