Which ING Rate is best now?

anselld

I have a ING account transferred from KE and also one taken out as a "new" customer with ING in Jan with 2.17% gross bonus.

The "new customer" one is now on 3.65% gross (3.72% APR) since the latest base change.

What has happened to the "special rate" for KE transfer? Has that also gone down since the base drop?

LesU

anselld wrote: »

I have a ING account transferred from KE and also one taken out as a "new" customer with ING in Jan with 2.17% gross bonus.

The "new customer" one is now on 3.65% gross (3.72% APR) since the latest base change.

What has happened to the "special rate" for KE transfer? Has that also gone down since the base drop?

It has gone down. I'm assuming that the new overall KE customer's special rate has changed to 3.52%. This is made up of the 2.02% special bonus plus 1.5%, which is the new standard rate for ING savings.

oldwiring

Sorry to go a little OT, but I read that Ing is a "passport" account, something to do with its being foreign based. Is it therefore legally as safe in deposit guarantee status as a uK based institution?

atypical

It isn't a "passport account", its deposit guarantee works under the passport scheme.

You would be covered by the Dutch investors’ compensation scheme as oppose to the British FSA one. The Dutch one is actually more comprehensive, covering amounts up to €100,000 (~£90,000) as oppose to £50,000.

But it depends on the Dutch who would very probably put citizens of their own country over those of others should they need to pay out.

oldwiring

Thanks for terminological education.. .

So we rely on another country to pay out with no guarantee that our scheme would top up any shortfall or that HMG would step in. Are my thoughts accurate?

anselld

Near enough. Conversely the Dutch are probably a lot more financially sound than HMG!