ING Cheating customers again (merged)

Primrose

Just received notification that despite the recent .25% increase in the Bank of England interest rate, ING have decided not to pass a single jot of this on to their savers. What a con claiming to be a consistently reliable savings institution. Hope all their savers will vote with their feet and move their money elsewhere.

Froglet

Hi Primrose.That is disgraceful.I stayed with them because i was able to have 2 separate accounts in one ,and they were quick to send and accept money through their system.But no more.I have already moved one lot to Northern Rock,and now i will open a separate one for the other amount.For reasons i won't go in to i need to keep them separate.I am sure a lot of people will move their money now.

bel2310

I will be voting with my feet, waited to hear if ING passed on the increase but thats it shall be looking elsewhere. Does anyone know yet if A & L are going to increase the 5.38% saver.

Bisoy

I think ING no longer want to compete with the new top players in the market. It's a shame after the recognition they have received in the past.

codetown

What are you waiting? I already moved all months ago!
ING has lost its competitiveness at least 6 months ago and this new decision does nothing but confirming it!

dealornodeal_3

that is a shame because ING was the main one in my mind where I was going to put some money into, I was only waiting for todays decision. In fact I would imagine they will have to put their rates up sooner or later to keep the Customers that are left?

So its back to the drawing board for me!

sham63

I've moved all my ING cash to an A&L Direct Saver. I am dissapointed because the ING website is so flexible and easy to use. I also had 3 accounts set up under the main account number which is a really useful feature. It is a shame but i couldn't ignore the higher rates being offered by rivals. I would move the money back if they became more competative.

ReportInvestor

Bank intends to pay its savers slightly less than the bank base rate so that it can make a profit :eek:

It's probably a sign of how healthy the competition is in the UK savings market that it's taken ING so long. And hardly surprising now that they are also attempting to make a splash in the UK mortgage market.

So long ING, thanks for the good times and the difference you made to the other laggards.

Hello Landsbanki .

At MSE we surely just "go with the flow" and must know that's the only way to stay at the top of the pile?

Silverfish_2

Didn't they mention a couple of new savings accounts they were launching? I threw out a letter from them I received this morning already. Something about a 5.25% and 5.3% . . . sorry, new to this. . . has anybody else heard anything about these? Are they any good? I only signed up to them a couple of weeks ago as they were mentioned in a Sunday Times table for most consistent. Should I move my money across to one of these new accounts?

chesky369

I've just logged on to look at the 5.25% websaver. It's for existing customers only but I didn't know about it - they never wrote to me. It seems you can transfer £1 - £25,000 to it. Why do they keep so quiet about this - I've been with them for nearly four years now and you think they would have dropped me a line about this opportunity.

Optimist

chesky369 wrote:

I've just logged on to look at the 5.25% websaver. It's for existing customers only but I didn't know about it - they never wrote to me. It seems you can transfer £1 - £25,000 to it. Why do they keep so quiet about this - I've been with them for nearly four years now and you think they would have dropped me a line about this opportunity.

I didnt know about that either it makes their comment on the savings page of their web site "One consistently high rate for everyone" somewhat disingenuous !