ING Direct to reduce from 17/4/09

savetilibleed

ING Direct accounts are to reduce by 0.5% and bonus for new customers is to increase by 0.25% w.e.f. 17/4/09. So for existing customers who have been with then for 1 year + the rate will be 0.5%. For customers less than one year the rate will be whatever the bonus was when the account was opened + 0.5%

See ING Direct

PurpleBox

They have reduced twice now since the last BOE rate cut.

My Ex-Kaupthing Edge account now pays 2.5% - but only until the 6th August when it will drop to 0.5%.

My Tesco account currently pays 3%, including a bonus, until early next year so no prizes for guessing where my money is now.

PurpleBox.

roddydogs

Its to pay for all the £25s well publicised on this bloag

brewerdave

Had to have an easy access acc. originally with K/E in order to open/service high interest term accounts, I believe you had to keep £100+ in it - does that still apply now the accs. have been transferred ? - I'm probably being dense but I can't find out from the ING web site.I don't have much in the std.acc. but at 0.5% I might as well transfer it out if I can.

roddydogs

If you close your a/c for 3 working days, you then qualify as a "New customer" and get a new "years" bonus

brewerdave

Looking further into t & cs it seems I do have to keep this "tied" acc.open (and a DD set up from my current acc.!!) but don't think I have to keep anything in it! So I'll transfer the few £100s out and bung it in a higher paying instant acc. I've already opened. I'll leave a balance of £1 with ING!!! Why do they all make it so complicated ? Rhetorical question !!!

D1zzy

PurpleBox wrote: »

They have reduced twice now since the last BOE rate cut.

My Ex-Kaupthing Edge account now pays 2.5% - but only until the 6th August when it will drop to 0.5%.

My Tesco account currently pays 3%, including a bonus, until early next year so no prizes for guessing where my money is now.

PurpleBox.

Mine's off to Natwest -3.24% (Can I be bothered to move the Tesco's money back to Natwest for 0.24%? ) and then maybe to the West Brom 1 year fixed at 4.3% - though I might wait until after the budget to see if anything better pops up - I get the feeling that fixed rates are starting to creep up.

savetilibleed

PurpleBox wrote: »

They have reduced twice now since the last BOE rate cut.PurpleBox.

Previous cut was due to the 5th Feb BOE cut to 1% according to a letter I had. This one is obviously because of the most recent on 5th March to 0.5%. No doubt I shall get another letter about this one in a couple weeks. I had it confirmed on the phone today what my rate is now including bonus - 2.67% gross.

ffacoffipawb

roddydogs wrote: »

If you close your a/c for 3 working days, you then qualify as a "New customer" and get a new "years" bonus

If that's true, all I can say is what a pathetic way to run a business.

hotkee

I have an ING account and another with Citibank - both rates have gone down so I have done the decent thing and moved bits of money from both yesterday and a cheque has been fired off to the West Bromich BS for the 4.3% - that lump is tied up for 12 months but dont mind. :beer:
Happy I didnt plump for the Abbey 2 year fixed deal of 4.1% last month. :D:D:D

The halifax have fixed rate 3,6, 9 month and 1 year, 2 year etc bonds - plumped some money in there too for 9 months at 3.35% I think it was - 9 months later can move again - Its fun this money swirling business.

Maybe the bank failures have done some good for people - move your money open many accounts - make the banks work harder.

D1zzy

ffacoffipawb wrote: »

If that's true, all I can say is what a pathetic way to run a business.

Definitely true - I've done it a couple of times. However, they have changed their rates so quickly in recent years, you hardly have time to get money in before the rate has dropped - so I'm now giving up with ING