ING Direct .. Can we trust Dutch Deposit Protection scheme

f_@_w_y

Dear All,

I am an ex-icesaver. After getting my money back, can we really trust non-UK DUTCH DEPOSIT PROTECTION SCHEME??

What do you think? If ING direct goes off... Will FSCS support us like they did in case of ICESAVE...

I will appreciate your views on this....

home_alone

In the event that ING Direct goes bust, 100% of the first €100,000 (around £78,000) will be guaranteed. However it's important to understand this is NOT protected by the UK scheme but by the Dutch Investor Protection Scheme, meaning it would have to be claimed from the Netherlands authorities. My guess is that Mr Darling will not help out it is totally a Dutch problem, so can you trust the Dutch more than Iceland, the only time that question will be answered is if ING do go bust.

gary

gozomark

can we really trust the UK one ?

agsnu

Most people think that ING is probably "too big to fail".

greyster

didnt like the passport scheme since icesave so I bailed out. I'm with egg now.

Broadback

I will only save with UK backed institutions, since almost getting my fingers burned with Icesave and Kaup. Furthermore I have split my savings between several institutions, on the basis that if they were all in one, I may well get my money back, eventually, but meanwhile I would have problems. I accept that we may get to the state where the FCS could no longer pay out, but would rather be in the mire with everyone else than on my own!

merseyscouse

i also had my fingers burnt by Icesave but FSC bailed us because there was 'some' liabilty. i stand to be corrected but does the dutch scheme have any guarantee from the fsc......... Holland is not a big country, could it also go bust as did Iceland, in which case they would be unable to give compensation......I think we should all learn from the Iceland fiasco!!!!

del1001

The old saying "once bitten twice shy" springs to mind, I'm a former Ice-saver and consider myself very fortunate to have got all my money back thanks to UK goverment intervention, I'm not entirely convinced that they would do the same again if ING failed.

Personally I've no intention of banking outside the UK ever again, maybe I'm being over cautious, maybe not...

Andrew64

ING should be too big to fail, and the Dutch compensation scheme should have enough money if case ING went down. But I'm keeping my money in institutions backed by the FSCS - I feel happier that way. The FSCS would be much easier to deal with than the Dutch scheme would be!

roddydogs

Can u trust them not to offer a better deal to "New Customers" once youve signed up

---

ie 5% NEW CUSTOMERS ONLY !!!

mike88

The same concerns apply to those of us with money in Ireland.