Anyone with ING direct?

Stavros_3

I have noticed my B & B 6 account is now paying 3.sommat percent and thats b4 the next chuffin' rate drop. Ing are paying 5% AER so wondered what their service is like. On a different note I see Cameron has promised help to savers by abolishing tax deductions for basic rate savers, hmmmm, wonder if Gollum will steal his idea, probably not co's he's bankrupted us already. http://www.ingdirect.co.uk/savings/our_savings/about_our_savings/openonline.asp

Simstwins

I have just completed the opening account process and will be sending my cheque off in the next couple of days. The reason for this - Egg have dropped their rates even further and are only paying 2% gross. The 5% gross I will get from ING is higher than the rate I currently receive from egg, and even if they drop their underlying rate, the bonus rate of 2.17% is still more than I would have been earining at egg!

sarsief

I have an ING saving account in Australia, it's pretty basic, you set up an account linked to an existing account and just move your money between them.
You can set up Automatic Saving Plans to do most of the work for you, or you can transfer money on an ad hoc basis.
I used it to save up the money to move over the UK and travel - had a portion of my salary that I wouldn't miss go directly into the account.
Found it a very useful savings tool regardless of the interest rate as you don't have direct access to the money - you have to move it to your linked account to be able to access which made me think twice about whether I needed it or not
I tried to set one up when I first moved over, but didn't have any proof of address information. They refunded my £1 cheque with interest! Have found their service helpful when I've needed it, but haven't needed it often.
Thanks, you've given me the kick to try again, I'm going to set it up when I get home

Milarky

ING's basic savings account pays monthly interest into the account (not out as some others do) This may suit some people - but not all.

The online facility is very good (always seems quick) and payments to ING are enabled for faster payments - allowing you to deposit 'instantly' from many external accounts

maypole

I would check to see if ING are covered by the Uk compensation scheme if you are putting your money in there, I have a feeling that it isn't.

Baldur

maypole wrote: »

I would check to see if ING are covered by the Uk compensation scheme if you are putting your money in there, I have a feeling that it isn't.

ING is covered by the Dutch scheme - http://www.ingdirect.co.uk/general/faqs/?section=savings

ING Direct is:

• Authorised and regulated by De Nederlandsche Bank (the Dutch Central Bank) and subject to limited regulation by the Financial Services Authority. Details on the extent of our regulation by the Financial Services Authority are available from us on request.
• A subscriber to the UK Banking Code. Copies of the code are available on request, or from www.bba.org.uk.
• We are covered by the Dutch Deposit Guarantee Scheme.

bjorn_again

Stavros wrote: »

I have noticed my B & B 6 account is now paying 3.sommat percent and thats b4 the next chuffin' rate drop. Ing are paying 5% AER so wondered what their service is like. On a different note I see Cameron has promised help to savers by abolishing tax deductions for basic rate savers, hmmmm, wonder if Gollum will steal his idea, probably not co's he's bankrupted us already. http://www.ingdirect.co.uk/savings/our_savings/about_our_savings/openonline.asp

I have two KE/ING accounts - one FTD still paying a very nice rate. To date I have no complaints whatsoever about ING service. I am personally confident that the Dutch Government passport scheme is equal to or better than that offered by the FSCS and have no phobia about "johnny foreigner" not paying up, in the extremely unlikely event that ING go to the wall.

naughtybish

I have an cash isa with ING rate has come down , its just getting the time to find
to keep moving these things chasing a better rate. i have given up at the moment.

prudent is now a dirty word i feel.

chesky369

When it started, ING was an exemplary bank which was why it was so popular - a very good interest rate with great service and easy to access on line. In many ways it was a model to other banks.

Then, the rot set in and whilst the service was still fine, the wonderful interest rates went down and down and down, and everybody got very disappointed by them as their expectations had been so high. Now it seems to be rallying again. Hope so anyway, since I've still got money with them - I didn't quite get around to closing my accounts in the bad time and I'm getting a not-too-bad rate now.

Having been let down by Iceland, I'm keeping my fingers crossed about the Netherlands.