Ing 6% fixed for 6 months & 5.65% Web saver (merged)

NottsCountyRule

I have just set up the ing websaver but have noticed that the direct debit has dissappeared from my A&L premier direct current account.

Even though I haven't used my ing account for a long time, is it standard practice to just withdraw it from my current account?

Also does this mean I have to ring A&L to re-instate it or can I do it by e-mail?

Thanks

mary

When only the Instant Access existed with Ing, you could arrange a future withdrawal to an external account.

Now it seems you can do a future withdrawal from your Websaver account to the Instant account but you can't arrange a future withdrawal to your external account, as it is now a two pronged operation. You can only do stage 2 when you've completed stage 1.

For instance if I wanted to do a payment from Ing Web to Lloyds current on 28th Feb, I can only arrange a future withdrawal for the 28th from the Websaver to the Instant account and then have to remember to do the final transaction on the 28th, which defeats the whole object of setting up the payment in advance so you don't forget, if you can only do half the job at one time anyway.

masonic

mary wrote:

I can only arrange a future withdrawal for the 28th from the Websaver to the Instant account and then have to remember to do the final transaction on the 28th

Can you no longer arrange future withdrawals from the instant account?

mary

masonic wrote:

Can you no longer arrange future withdrawals from the instant account?

Yes you can, but my point was that as far as I can see you can't arrange in advance to do a future payment from the Websaver to the Instant Account onto an external account all at the same time, you can only do one step at a time.

masonic

mary wrote:

Yes you can, but my point was that as far as I can see you can't arrange in advance to do a future payment from the Websaver to the Instant Account onto an external account all at the same time, you can only do one step at a time.

You can set up a future payment to the instant access account and, at the same time, set up a future payment from the instant access account to your external account, though, can't you? Or does the system not allow you to set up the second transfer unless there are sufficient funds already in place?

YorkshireBoy

NottsCountyRule wrote:

Even though I haven't used my ing account for a long time, is it standard practice to just withdraw it from my current account?

ING have cancelled the DD because you haven't used it for 13 months (as they say they will in the T&C's)

Also does this mean I have to ring A&L to re-instate it or can I do it by e-mail?

A&L won't be able to help you. You need to contact ING to re-activate the DD instruction or set up a new one. If the latter, they may require another A&L cheque to do so.

Bogof_Babe

That's interesting, about the 13 months time lapse. Does this mean that if someone just lets their interest accrue without making any in or out transactions, the DD will still lapse after this period? Seems a bit rash (not to mention a nuisance) if you have thousands of pounds stashed in there.

YorkshireBoy

Bogof_Babe wrote:

That's interesting, about the 13 months time lapse. Does this mean that if someone just lets their interest accrue without making any in or out transactions, the DD will still lapse after this period?

I think you'll find that all DD instructions operate like this (either 13 months or 400 days).

Further info on the BACS website...

DD Dormancy Period

Seems a bit rash (not to mention a nuisance) if you have thousands of pounds stashed in there.

You may be able to get your money out (via BACS), but you won't be able to 'pull' any more funds in to the account.

NottsCountyRule

O.k fair enough. I will contact ing by phone - thanks a lot Yorkshireboy.

A stupid question perhaps, but one I'll ask just to be certain, is the 0800 3766666 a freephone number?

gelato_cat

Not really. I hadn't even noticed mine had expired as I transferred my money in and out via BACS. I reinstated it by ringing them up, took about 10 seconds.

Suze

Bogof_Babe wrote:

That's interesting, about the 13 months time lapse. Does this mean that if someone just lets their interest accrue without making any in or out transactions, the DD will still lapse after this period? Seems a bit rash (not to mention a nuisance) if you have thousands of pounds stashed in there.