Ex-ICEsavers - where now?

cwcw

I opened the B&B internet saver 3 and have started putting money in already. It's ready for the savings part of my Icesave money (currently paying 6.51% but not sure for how long).

The ISA part of the money I intend to "transfer in" to NatWest, where I should get quite an impressive 7+% tax free. The only downside is you have to take the form into the branch so I can't really open yet until I get the Icesave money back and details of how ISAs will work. It could be quite embarassing going in branch clutching my "bail out" certificate!

Ironically, both of these new accounts are paying significantly higher than the Icesave equivalents were (so much for "greedy rate chaser" - if I had have been, I'd have escaped the whole debacle months ago).

cwcw

meanmachine wrote: »

For that reason, again, personally, I'd avoid ING, Santander (Abbey) and I'd also steer clear of HBOS/BM given its collapsing share price. (I know Lloyds have stepped in, but they too are under pressure).

I'd agree with avoiding ING but not Santander. All of their many UK subsidiaries are, as far as I know, 100% FSCS - no passport rubbish. So the fact their owner is Spanish doesn't really matter.

home_alone

I have been looking for the past month for a home for my icesave cash it needs to be instant access, joint account (there are not many around) and no bonus. ing comes to the fore as I have an account there (not much in it) but it would be simple to put some in there and use it as a staging bank until I find something better or without the passport tag. I am not looking for the best rates just something decent above 5%.

gary

Icesaver

I've already opened a Bradford and Bingley Internetsaver 3 for some of the cash. as far as the ISA is concerned I had considered Nat West, but had to open an e-savings account as they do not accept you unless you already have an account. I applied three weeks ago and it still isn't open (B&B only took days to open) There's also a thread running on delays in transfers into the Nat West offer so I may just transfer my ISA to B&B though rate is only 5.65% variable,


I already have an ING Direct savings, only have a small amount there and not too concerned yet, won't be topping that up as rates are not great anymore.

As for Santander banks I believe they don't use passport scheme so I've no concerns there, unlike Post office Savings which is run by Bank of Ireland and does use the passport scheme, so maybe Post Office should be added to meanmachine's avoid list.

natman

My opinion at the minute is to try and get my money from foreign places into the UK.
I have a Kaupthing/ING Savings account and fix term deposit account
I have a ICICI Savings and fix term deposit account.

I have opened the Bradford and Bingley internet saver 3( which has now been taken off the market)
I have also opened up a fix rate Tesco Personal finance internet saver. This has a rate of 6.50% Gross / AER . This includes a 1.5% bonus for 12 months when you open an account.

I too agree with a lot of posts, I thnk bringing money back into this country may also help stabalise things, instead of us keep shifting the money everytime we think another ICESAVE will happen.

Probaby a good time to fix a rate if you can with the rate cuts on the horizon.

Geoffo_M

bjorn_again wrote: »

ING - they have the backing of the whole European Community not just the Dutch Government. No major Euro Bank will be allowed to go to the wall. I already have my KE/ING account open and the money will go right in there.

When you say "I already have my KE/ING account open", do you mean you now have your KE accounts opened by accessing the ING website. As far as I know, my KE accounts are still only available by logging into the old KE website. Am I missing something?

Swipe

cloud_dog wrote: »

Just remember BM is part of BoS.

So that means HBOS?

Griffboy

B & B internet 3 saver

chesky369

My thinking now is to get the best possible rate plus instant access in a UK bank. I'm not going over the £50k mark, so I won't have to worry about getting my money back if there's a failure - I don't think my heart will stand another 24 hours like last time.

bjorn_again

Geoffo_M wrote: »

When you say "I already have my KE/ING account open", do you mean you now have your KE accounts opened by accessing the ING website. As far as I know, my KE accounts are still only available by logging into the old KE website. Am I missing something?

Sorry about not making it clear. Yes I am like you and access my account through the KE website. From what ING have told me, this is how it is going to remain for the time-being, not too sure if it will change in the future. The point I wanted to make was that the account was already open and in existence and that I did'nt have to go looking for another.
As far as safety goes, imho, if we see major Banks like Santander and ING go to the wall we can forget about banking as a concept never mind safety. A global problem requires a global solution and it will come.