ING reward 6% rate

masonic

hansi wrote:

You need to be careful there, they don't pay the interest until 02 AUG!

Why? Is interest not calculated daily?

[Deleted User]

Paul_Herring wrote:

Does ING allow you to place pending transactions more than a month in advance? I don't recall.

Yes. I know from personal experience that you can transact at least 3 months in advance, although I do not know what the actual furthest limit is. Anyone?

[Deleted User]

mary wrote:

But in any case, do you know where you are going to transfer your money that far ahead. You won't know what lucrative offers will be available.

But you could always edit your pending request if something better than your original choice arose.

YorkshireBoy

Deleted_User wrote:

...I do not know what the actual furthest limit is. Anyone?

6 months, according to ING's help page.

Prudent

Maths isn't my strong point
If I move £27,000 from Cahoot (at 4.55%) to ING for that time how much will I gain in interest?
I have had a really busy time and still havn't moved the money from my Cahoot account. I only have about £68 in ING just now - simply becuase I didn't find time to close it! On holiday next week so promised myself I would sort ING and Cahoot accounts.

alared

Money left previous account on Tuesday,arrived at ING today.
3 days loss of interest,I presume.
It can stay there `til 2nd Aug,then I`ll be looking for a new deal.
Hopefully by then rates will be on the up.
I still believe the last cut by the providers was done because they too think the next move by the BoE will be up -hence we`ll be (almost)back where we started.
I say almost because a lot of them won`t give any full increase but always cut more than any decrease!

Dagobert

I have only just, after expiry of my cahoot bonus period, transferred all my money into my Coventry First current and savings account.

My understanding is that only a cheque-book account can be linked to the ING savings account, which the Coventry First isn't. So, I wouldn't be able to transfer the money back directly to the Coventry First?

Does anyone have any experience how long BACS transfers from and to Coventry First take? (Some banks hold on to the money an extra day when sending or receiving.)

hansi

masonic wrote:

Why? Is interest not calculated daily?

don't know but that's what they say in their blurb so mine stays there till 2nd August.

Dagobert

Quote from ING's flyer:

Interest is calculated daily on credited and cleared funds above the opening balance between 15 May and 1 August 2006 inclusive. For example: If you have an opening balance of £10,000 on 15 May and you deposit an additional £5,000 between these 2 dates, you'll earn the 6.0% gross reward interest on the additional £5,000 every day it stays in your account. And you'll continue to get your higher rate of 4.5% AER on your £10,000.

Dagobert

Is there a daily limit for transfers out of the account?