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

YorkshireBoy

masonic wrote:

You would lose less in three days at 4.75% than you would if the money was earning nothing for 1 day, so it's not something that would discourage me particularly.

You'd think, though, that since the only way out of ING (from the Web Saver account) is back through the 4.75% account, they'd at least allow you to move it within the organisation - or is that asking too much (rhetorical question )?

gelato_cat

ING's USP was always their super-high interest rate, though - and now they just don't care about being competitive, esp since they brought their mortgage products in. People were attracted by their innovation and hope the halcyon days are going to come back, but I doubt that's going to happen. Halifax's "good" products are still good, still competitive but are being overtaken by products offered by other institutions.

You can't compare ING with Halifax - it's like comparing apples with pears - Halifax offers a wider variety of products and hasn't neglected its savings offerings as much as ING has. Also, they've been around for longer so people have been suffering rate drops on some products, which were previously good (Liquid Gold for instance) for over a decade. Wait till ING have been around for a bit - people will dump them and not feel any guilt whatsoever.

Suze

Deleted_User wrote:

It is interesting to note how there seems to be a greater sense of betrayal when ING 'do the dirty', than with other institutions. The Halifax does not appear to have received anything like the same level of vilification that ING did last time, for not passing on any of the latest increase to its Websaver (no card) customers. :rolleyes:

masonic

Deleted_User wrote:

It is interesting to note how there seems to be a greater sense of betrayal when ING 'do the dirty', than with other institutions. The Halifax does not appear to have received anything like the same level of vilification that ING did last time, for not passing on any of the latest increase to its Websaver (no card) customers. :rolleyes:

I think the sense of 'betrayal' has to be weighed against the amount ING prided themselves on offering a consistently high rate to everyone. That said, they are running a business.

gelato_cat

Costs the bank less to maintain a website than it does to maintain a call centre though...

Suze

Deleted_User wrote:

A good point, often overlooked. The Web Saver is indeed an internet-only account, it seems, and some people are just not comfortable with internet banking.

masonic

YorkshireBoy wrote:

You'd think, though, that since the only way out of ING (from the Web Saver account) is back through the 4.75% account, they'd at least allow you to move it within the organisation - or is that asking too much (rhetorical question )?

Oh, but imagine the admin work.

gelato_cat

That's why I like my Halifax websaver - really easy to get hold of funds through my current account. Not that I've ever had to, but I like knowing it's there.

Shame the websaver's not very competitive at the moment though. I've slowly taken more and more of my custom away from Halifax and they might just lose my current account and credit cards now!

Suze

YorkshireBoy wrote:

You'd think, though, that since the only way out of ING (from the Web Saver account) is back through the 4.75% account, they'd at least allow you to move it within the organisation - or is that asking too much (rhetorical question )?

YorkshireBoy

Suzey wrote:

Wait till ING have been around for a bit - people will dump them and not feel any guilt whatsoever.

You're absolutely correct. Within 24 hours of the Halifax's decision to pass on only 0.05% to my ISA Saver Direct, I'd initiated the transfer to YBS - a cold, callous decision on my part.

Yet, here we are, 12-18 months after they first started messing, still grumbling at ING saying "if they only went back to one account..."

They were nigh-on perfect when they launched - a great rate, simple interface, DD pull-in, 3 day transfers - it's just so sad! See what I mean about a "soft spot".

ManAtHome

I take the point about Halifax having a wider range, but their websaver is stuck at 5%, and not much increase on the majority of their savings products since the last BoE increase (although their mortgage rates don't seem to suffer from the same inertia...).

masonic

Suzey wrote:

That's why I like my Halifax websaver - really easy to get hold of funds through my current account. Not that I've ever had to, but I like knowing it's there.

You know with the YBS internet saver you can make withdrawals from a cashpoint.

Hang on a minute... Have I been brainwashed?!

gelato_cat

YorkshireBoy wrote:

You're absolutely correct. Within 24 hours of the Halifax's decision to pass on only 0.05% to my ISA Saver Direct, I'd initiated the transfer to YBS - a cold, callous decision on my part.

And, after you mentioned it to me the other week, I am going to do the same!

YorkshireBoy wrote:

Yet, here we are, 12-18 months after they first started messing, still grumbling at ING saying "if they only went back to one account..."

They were nigh-on perfect when they launched - a great rate, simple interface, DD pull-in, 3 day transfers - it's just so sad! See what I mean about a "soft spot".

I don't think they could tell the difference between people who wanted savings and those who wanted mortgages. Or maybe they think that because their savings rate is low, people will think their mortgage rate is low too?

Suze