ING Savings Account 21 May 2004 at 4:46PM in Savings & Investments 152 replies 12.9K views

actress1nce

I opened an ING savings account about a month ago as their interest rate was the best on the market. Just thought I would let the board know that I have just received a letter from them today saying that as the BOE has changed the interest rate ING will be raising their interest rate on savings to 4.7%. WOW, don't get many letters like that from banks!!!!! I'm impressed. ::)

Noxid_2

I have a first saver from Britannia and about a month after they put up rates they send a letter through saying rates have changed and include a table. Only problem is I know about six weeks before hand. For example the first saver will be at 4.3% from 1/6/04 which is still rubbish. ;D

actress1nce

Arrgghh - well I hope I don't geta letter in a month or so then saying that they're putting it down again!!! LOL!!! Actually I suspect they won't for a while as it's their first year and they are having quiet a good run. I also have an Egg savings account which is still pretty good by most banks standards for savings, but the interest rate has even crept down on that account over the past couple of years. I can honestly say, though, (crossed fingers) I have never had a bank write to me telling me they are putting the rate of interest UP on my savings - always DOWN!!!! I will wait and see :P

robnye

ING is 1 year old......

if you go to their main web page http://www.ingdirect.co.uk/

on the right hand side is a section to celebrate there first birthday


only limited tickets hurry now

actress1nce

Yeah, I have put in for my tickets - sounds fantastic. Hope I am lucky enough to get some

Milarky

The old [Nationwide] trick about breaking bad news was to say that interest rates had 'changed' when they had really gone down, whereas you boast that your have 'increased' your rates when that happens rather than merely saying they have changed again

amboy

Being one of the lucky winners for their first trip, all I can say is [glow=red,2,300]WOW[/glow].

What a day they laid on, the staff were great and made a point of talking to everyone, the food was yum.

Best of all they dont have any small print or gimmicks

didnt see Sanjeev though 8)

System

Seems that Ing have been knocked off the top by A&L:

http://www.moneysavingexpert.com/cgi-bin/yabb/YaBB.cgi?board=Savings;action=display;num=1084741320

they are launching a similar account at 4.85% with no introductory rates.

Hmmm should I move my money across to A&L , any thoughts ? or should I just stick with Ing ? However the max you can invest on this account is £25000 and interest is paid annually instead of monthly.

Milarky

This is the classic ''Moneysaver's Dilemma'', isn't it? Whether to move accounts for 0.15% pa  :o

Seriously, I think you should stick with ING and tread warily with a new account like the A&L's, because ING is a 'no catches' brand, whilst almost every new account launched is hedged with suspicion, and there are a few catches with this one. http://www.moneysavingexpert.com/cgi-bin/yabb/YaBB.cgi?board=Savings;action=display;num=1084741320#6

I would, though, recommened opening an A&L current account online - if only for the free 25GBP [grr! I can't make the 'pound' symbol above the '3' on my keyboard work now - any tips anybody?]. But they also give you a year's interest-free overdraft. You need to pay in at least 500 pounds each month (so that's where the ING account can come in handy!) or be stung for a 5 pound fee. You could probably transfer the OD limit (less fifty quid for withdrawals, say) from the A&L current account to the online account - you certainly can put it in your ING account, for instance! [So that's 25 pounds for joining. plus nearly 4% of the overdraft.]  ;D

DiggingOut

25GBP [grr! I can't make the 'pound' symbol above the '3' on my keyboard work now - any tips anybody?].

What happens when you press shift-3? Do you get #?

Milarky

What happens when you press shift-3?  Do you get #?

I get: # (shift-3)  >:(

[There must be a way to reconfigure a keyboard on Windows XP Home, but I haven't found it yet]

PS the euro symbol is to right of '4', below the '$' - what key would one press to display that? (You realise, that being able to successfully answer this question is one of Gordon Brown's tests )