ING Savings Account

Leia_Stephens

I am disappointed by ING's 0.15% rise too

I have cancelled my monthly DD with them, but I think
I shall keep about £20 with them and monthly interest will keep this ticking over.

Still, perhaps the next increase will be another 0.15% to take the rate to 5% and then perhaps there will be larger increases later, here's hoping ;D

I think I will use my Smile no-notice a/c for short-term savings, if I remember correctly, each of its recent interest rate rises has been the full 0.25% , and its got an ethical policy.

I am willing to sacrifise a little interest for convenience of instantaneous money transfers and to be with an ethical bank ;D

Leia

System

There is now a video message from ING's CEO on thier website. He answers some of the questions like why ING delayed thier rate rise when the BOE increased interest rates in June. But my main question is why is the rate only effective from 1st Aug ? 1st July would have been nicer !

He also admits there are accounts that pay a higher rate of interest but says ING will always pay a good rate and will remain in the top 10.

I agree ING is a great account for people who dont want to keep switching and transfering thier money between different savings accounts.

However because of this website I have become a rate tart !! and Cahoot's 5.5% just seemed too good a deal. However it wouldn't suprise me if I reverted back to ING in 6-12 months time. My account with them is still open and will leave £1 in there just in case.

Leia_Stephens

I see your point, mrx

It is probably sensible to leave the ING account open, and perhaps ticking over with a little interest whilst "rate tarting" elsewhere ;D

Perhaps the Cahoot 5.5% is the way to go

Leia

alared

Leia

Don`t leave it too long,Cahoot is supposed to be a "limited offer",maybe only open for two months.

Leia_Stephens

Thanks for the advice, alared, I had better get my skates on

Leia_Stephens

Perhaps this is me being too sensible, but I would suggest to those with ING a/cs that we each keep at least £1 in one, because their interest rate could become competitive again, and we don't want to burn our bridges

Similarly, I dislike Barclays with a passion - in the past they charged me exorbitant interest on a loan, they made me overdrawn from a mistake of theirs >:( and they have sloppy customer service - but I still have £1 keeping my old current account open and I still hold my Barclaycard.

Leia

Leia_Stephens

I have just remembered another reason why I left them: their p**-p**r current and savings a/c interest rates >:(

L.

Leia_Stephens

It wasn't difficult to decide to move my savings from them to ING

L.

System

There's no need to keep as much as £1 in. I have kept just 1p in my ING a/c to keep it open. (I probably won't get any interest though). ;D

Leia_Stephens

True , but I do like seeing monthly interest accruing in my ING account :-[ (this is my only a/c which pays monthly interest).

Perhaps I should have just 1p in my old Barclays account

Leia