ING - Drops to 4.5% AER from 1st Jan 2006

Juni_3

I just don't fancy putting my money in a bank that isn't signed up to all our codes.

Their customer service is supposedly getting better but I've heard all sorts of horror stories about withdrawals going missing. Only takes one of those and all that extra interest is wiped out.

pchelpman

One of many similar reviews of this account. Not sure I'd risk my money with it.

http://www.dailytimes.com.pk/default.asp?page=story_11-9-2005_pg5_21

(see mention of Martin twards the end).

hansi

Might move my ING savings back to my A&L Online Saver paying 4.75%!

from_suffolk

The A&L on line saver Issue 2 is paying 5.15%* until 30/06/06.
*Variable

hansi

Yeah, I know, but I've got the Issue 1 and that pays 4.75%

Prudent

I have £2000 in ING account. I am one of the lucky people that got in on the Cahoot account which is still paying 5.3%.Most of my savings (other than ISA) in Cahoot account. Should I move this money to Cahoot now? I have kept both accounts to keep my options open.

thor

I too have the 5.3% cahoot account and can't believe how much more generous they are compared with all the other accounts being discussed here. They were entitled to withdraw their introductory bonus after the 12 months were up but have chosen to extend it indefinitely. If only the others followed their example.
If there is an ulterior motive for this, it has eluded me as I can't see how they are benefitting from this move.
ING started off well but the rot set in long before these 2 cuts. Remember how they began to put up their rates by less than the boe rate rises a couple of years ago. Sure there were many others at it as well but ING were one of the worst and most prolific offenders. It was at this period when my money began to flow from ING to Cahoot. ING's so called straight forwardness was not enough to keep me as I no longer trusted them and now only have £1 left with them. They will really have to bump their rates up quite a bit for me to stash my money with them again.
So I say go ahead and move your cash to Cahoot, I certainly have earned more interest by doing this and have no regrets.
Also Newcastle has an online account that has no strings attached(NewcastleNET), offering 4.9% which is a good alternative if you are looking.

deemy2004

It must be something to do with cahoots new owners - Spanish bank , interest rates are higher in spain i.e. borrow from UK and lend in Spain. Though in reality most are borrowing in yen.

home_alone

I am with ing and have had good service and it is an very easy to use the recent drop in rate to 4.5 has made me look around I have 300K with them and have felt secure the only other savings worth a look at for my needs - no tricks and instant without catches (I think) is Newcastlenet at 4.9 (4.85 mthly) anyone tried them yet?

gary

deemy2004

Do you have kids ?

The coventry do an account that pays 5% - instant access and 7.25% for a linked child benefit account