ING Direct 5% Rate for NEW Customers Only

gonzouk

trojjer wrote: »

As opposed to being entirely at the mercy of the UK government, or any other government at the moment?

Big difference, UK savers have first dibs at the UK government pot if a UK bank went down. With ING, UK savers are second in line behind all the dutch depositers.

However, it is a strong bank in a country with a fairly strong economy it has to be said.

nicko33

gonzouk wrote: »

With ING, UK savers are second in line behind all the dutch depositers.

Anyone got a source confirming that?

I can see it being politically expedient for the NL govt to favour NL residents,
but we're all in the EU together (unlike Iceland who are only in the EEA) aren't we.

A govt may be able to prioritise certain people, but I thought that under the EU directive that forces countries to have a compensation scheme in the first place, everyone would still have to be dealt with within the stated time frames.

Directive 94/19/EC
Article 10
..pay verified claims...within 3 months...


edit:
and what makes you think we would be second anyway?
what about the Belgian, French, German etc depositors in ING?

moonshine

shindigger wrote: »

I closed 2 accounts with ING yesterday. I will be re-applying as a new customer next week.

I'd be interested to know if this worked.

lpgm

gonzouk wrote: »

Big difference, UK savers have first dibs at the UK government pot if a UK bank went down. With ING, UK savers are second in line behind all the dutch depositers.

This is wrong.

LesU

One thing that isn't too clear in the Dutch compensation scheme, is how much are you going to be covered for?
The EU directive that pushed the protection maximum from €20,000 to €50,000 and then onto €100,000 is only dated up to 9th October of this year. From then on, who knows?

Pssst

Customer inertia will win the day. Those with any sense will close their ING accounts now.

isofa

ING constantly do this, they are probably the worse offenders for offering accounts with a decent rate, hooking people in, they quickly and quietly dropping the rate.