ING Savings Account

Margaret_Millne

We have a few accounts with only coppers in them - mainly because the banks really got up our noses about something - so those few coppers are not missed by us, but cost them a fortune in admin ;D

Leia_Stephens

I like the sound of that ;D

Currently I have £1.06 in my old current account with Barclays - I have just checked :-[ - I have also just tried to transfer 6p to my main Smile current a/c, to keep the nice round figure of £1 in there, but the transaction was refused.

I like the idea of costing them in admin to send me monthly statements telling me I have 6p with them , but I would be concerned that the a/c could become dormant or unusable if it only had 6p in for years.

I'm not explaining myself very well but, I like to keep my financial options open: you see I want to keep a financial presence with Barclays just in case Smile don't work out in the long-term.

BTW, MM, how many a/cs do you have with coppers in ???

Leia

Milarky

When I discovered - years ago - that you could get 'change' for amounts paid into savings accounts (etc) I started 'rounding' my account balances to at least the nearest whole pound. In theory it makes 'keeping track' that much easier.

Anyway, just to point out that Thursday ING changed the 'login' requirements from 'Pin Number' [That's 'PIN' to me] plus 8 character password to 'Pin Number' plus a memorable date in 'DDMMYY' format - and you have to recite selected characters from each item instead.

MiserlyMartin

Leia,

I too hate Barclays for the same reasons as you. I have an old current account with them that I kept open. I moved my current account to Nationwide 5 years ago.

I also thought it would be funny to have them send me statements every month to tell me I have £1 in there, but they don't send me statements now unless I make an 'account movement'

Go with Cahoot. They will be the top payers until at least 3 more 0.25 rises which I can't see happening for 6 months or so. ING they are old news. They should have kept up...sadly ING - RIP.

System

I have had nothing but good service with ING, and i love having the interest put on monthly, but i must i wouldnt mind putting my money in an account that will earn a bit of extra interest. I am a non tax payer, i want to be able to move it around when i want and i dont want to drip feed it, i just want to shove a lump sum down. Any ideas guys?

Margaret_Millne

BTW, MM, how many a/cs do you have with coppers in  ???

Leia

Sorry for the delay in replying, just noticed the question.

Mainly a Northern Rock one with less that £1 in it - they refused us a Mortgage 25 years ago after saving with them for years - so we left a little in to get the shares, sold the shares at an appropriate time to make a profit, and then just left a tiny bit in.

Likewise Barclays - our business accounts had been with them for over 25 years. We asked them for a small loan and they quoted us 6% (I think) over what HSBC quoted us for the same loan. So we took all our accounts to HSBC.

We now also have a Goldfish card pennies in credit, just waiting for a special BT deal, and Capital One the same, for the same reasons.

Capital One have never offered us any special deals since the original introductory offer, but has a high Credit Limit so we keep if for "bouncing" between HSBC 3.9% six months and back again.

Leia_Stephens

Thank you, MM.

I currently have 6p in my old Barclays current a/c ;D, £1.06 in ING, and £1 in my Halifax Web Saver.

Smile savings and my ISA are a little healthier, £62 and £3,075 respectively ;D.

Leia

Leia_Stephens

Oops, I made a slight mistake with my Barclays current a/c balance, I have just checked and it is 5p :-[ .

It is a shame that after a while of not using this old B a/c I only get statements when there are money movements into or out of it , I was hoping to cost B in admin for sending me out monthly statements detailing such a small amount ;D.

Leia

Margaret_Millne

Oops, I made a slight mistake with my Barclays current a/c balance, I have just checked and it is 5p  :-[ .

It is a shame that after a while of not using this old B a/c I only get statements when there are money movements into or out of it  :(, I was hoping to cost B in admin for sending me out monthly statements detailing such a small amount ;D.

Leia

Well set up standing orders to bounce a tiny amount backwards and forwards between 2 accounts then.

DiggingOut

I have had nothing but good service with ING, and i love having the interest put on monthly, but i must i wouldnt mind putting my money in an account that will earn a bit of extra interest.  I am a non tax payer, i want to be able to move it around when i want and i dont want to drip feed it, i just want to shove a lump sum down.  Any ideas guys?

Open a cahoot account, but keep your ING account open. Move all but £1 to cahoot. When ING catches up to cahoot in 6-12 months, move it back, but keep cahoot open for when their rates are better again.