kaupthing edge->ingdirect : how to select option 1 bonus interest?

Tyx

My question is, does option 1 mean that the money is locked in ING Direct for the next 6 months? Or can we take it out whenever?
Thanks

atypical

You can remove the money whenever. The only thing fixed about the account is the bonus of 2.02% for 6 months.

Tyx

Thanks. So there is no drawback in choosing option 1? Why wouldn't we? And, the interest rate now, is it 2%, or 3.5% (are we considered new customers or not?)

LesU

Tyx wrote: »

Thanks. So there is no drawback in choosing option 1? Why wouldn't we? And, the interest rate now, is it 2%, or 3.5% (are we considered new customers or not?)

I think the clue is in post #3 with the flashing banner. You get 4% for 6 months, then it reverts back to 2%, making 3.05% AER over the 12 months. I guess you are being welcomed as newcomers, not new customers.

CowboyChic

VortexSteve wrote: »

I completely missed it as well, was looking all over the place! I'd call that a nice case of "banner blindness", even when it's right in your face!

However even when I do click it I just get

"Error Message:

We are very sorry we can not complete your request at this time.

Please logout and try again in a few minutes.

For existing customers to complete a transaction please call us at 0845 603 8888.

For new customers please call Customer Services on 0800 376 8877. "

I had this too- but it worked after logging out and in again so i didn't need to call. It took me ages to see the option as well, like others i just ignored the banner!

Seems a wierd way to do it, but hey its done now.

bods

LesU wrote: »

I think the clue is in post #3 with the flashing banner. You get 4% for 6 months, then it reverts back to 2%, making 3.05% AER over the 12 months. I guess you are being welcomed as newcomers, not new customers.

I think it's more we're being thanked for allowing ING to break the Kaupthing Edge rate promise

But then ING is now one a pretty poor rate - if it wasn't for this bonus, I would move my money elsewhere. I'll just wait until August to do that now!

nzseries1

Tyx wrote: »

Why wouldn't we [take option 1]?

For me personally, I am going to take option 2. Because - I have a savings account with Tesco which I believe will have equally high interest rates for the next 6 months, and therefore I'd rather have a base rate guarantee until 2012.

I'd also rather have the £50,000 cover by the FSCS that Tesco provides, and also the faster payments in and out (although it's possible that ING has this, and I just don't know about it).

robpitt

hendrix04 wrote: »

are there several steps or was it just the 1 click to take option1 thanks in advance

To answer your question: the second page (after you click the banner) explicitly asks you to confirm or cancel.

Stewster

nzseries1 wrote: »

For me personally, I am going to take option 2. Because - I have a savings account with Tesco which I believe will have equally high interest rates for the next 6 months, and therefore I'd rather have a base rate guarantee until 2012.

I'd also rather have the £50,000 cover by the FSCS that Tesco provides, and also the faster payments in and out (although it's possible that ING has this, and I just don't know about it).

Same here nzseries1 !

Broadback

A suplimentary question. I assume that if you opt that does not also apply to any fixed rate savings you have transferred from Kaup? Nowhere can I find this stated.