ING - Views on Financial Strength

theGrinch

I am attracted by the guaranteed 3.20% instant access account for a year, however, I have niggling doubts on their strength.

I intend to keep under £77k (i believe this is the dutch comp limit), but I dont really wish to face an anxious time waiting should it all go horribly wrong.

In 2008 they recieved a large capital injection by the Dutch govt. In January 2009, ING announced plans to cut 7,000 jobs and its CEO stepped down. In April they annouced a "back to basics" plan so I would be grateful for feedback as to their stability.

Baldur

http://www.thisismoney.co.uk/savings-and-banking/article.html?in_article_id=454383&in_page_id=7

theGrinch

thanks. its seems ok

purch

There's a poster called dboswell who's was doing a similar thing with a small BS.

Maybe you should PM him, he might be able to help you find the answer.

bjorn_again

In 2008, European leaders agreed that no major Euro Bank would be allowed to fail http://news.bbc.co.uk/1/hi/7666274.stm
Last year the Dutch Government "invested" 10 bn Euro in ING. Prior to that Alistair Darling "rescued" KE savers by placing all their money in ING. If you believe that this mammoth institution will be allowed to fail, perhaps you should consider alternatives to a Bank Account.