ING Savings Account

Lady_K

Yes I rang them today and they told me that when the funds go into my account they do so as uncleared funds for 3 working days. During this time interest is paid on it but I cannot withdraw it till the funds are completely cleared but I'll check statements when they come to double check.

I thought we were able to check the interest recieved daily in ing accounts online... I read it in another ing thread but I cant find it anywhere in my account unless they have changed the way they do it online. I can find the calculator its not that, but its supposed to be the daily interest that your account earns each day depending whats in it

Milarky

Never come across that on their site. (Do you mean 'historcal rates' info perhaps?) What you can do is log on the 1st of any month and see the interest added - calculated up to the day before.

Paul_Herring

I thought we were able to check the interest recieved daily in ing accounts online... I read it in another ing thread but I cant find it anywhere in my account unless they have changed the way they do it online. I can find the calculator its not that, but its supposed to be the daily interest that your account earns each day depending whats in it

Hmm - if that's what was posted in another thread, then it's wrong. It's caclulated daily, and accrued monthly, but they don't have any way of checking 'how much you've earned this month so far.' See 1. How do you calculate the interest on my account?

MiserlyMartin

Rates:

They have had plenty of time to say if they are going to repsond to the B of E's recent rate rise..so far nothing. Sticking at 4.7%. I would expect to see at least 4.9% preferably 4.95% if the full rise is to be passed on.

Watch this company my fellow moneysavers....they may not be holding on to their leading margins

System

I thought they only reviewed thier rates every quarter? If this is the case we wont see another rate rise from them till August.

If BoE increase the base rate between now and August I have a hunch we may only see a maximum of 5% from Ing unless some other bank comes in and offers a better alternative which I dont see happening in the immediate future.

A&L isn't a big threat at the moment.

System

I called ING on Friday - was told that they are probably NOT going to be putting their rates up.

Capital One do a monthly rate at APR 4.90% so might be worth a look

I think it is time to start looking at moving away from ING

System

I called ING on Friday - was told that they are probably NOT going to be putting their rates up.

Capital One do a monthly rate at APR 4.90% so might be worth a look

I think it is time to start looking at moving away from ING

Typical, ive just set up an account with them >:(

Milarky

A useful place to keep tabs on ING is their 'Press Room'

https://www.ingdirect.co.uk/html/footer/pressreleases.html

You will notice that they move in response to the previous three BOE rate rises pretty quickly, so it does indeed appear as though they won't increase rates again in July

JasonElse

For those who were thinking about moving from ING (4.7%) to A&L (4.85%) - its not worth it if you do the sums.

ING Direct pay interest MONTHLY,, so you get the miracle of compound interest.

A&L pay yearly so you wont get this.

Work it out over a year and the compound interest is worth more than 0.15%

ING is the winner again!

MSE_Martin

Not allowed to say anything yet - it's embargo'd but wait for my money tip this week for news on this

martin