DON'T ditch ING Direct yet!!!!!!!!!!!

lucknnow

If you 've an account with ING, it might be worth checking out their members' only new saving accounts. Web Access Saver pays 5.65% and a fixed rate bond pays 6% for only a six month term.

Opening these accounts are a lot less hassle as there are no forms to sign and return as they already have your details and it can be done in less than a minute on their secure website.

Albeit the 5.65% is not top of the league, the fixed rate bond is definitely a winner in my book as it only ties your money up for six months.

I don't know why ING has not advertised these accounts more widely. There are not even featured on their homepage.

I only came across them accidentally while going through the FAQs on Saving Products.

madbazoo

It's been available for a few weeks but is web only so no phone service. I moved all my money over right away!!

They don't advertise it as it is only available to existing account holders. Didn't even tell us but I found out by calling them to ask if they were going to increase rates before I moved my other account. Guess they don't want us all moving our money.

I like ING because there are no penalties or loss of interest and I move money regularly each month.

petitjean_1946

It's nice to see existing customers "rewarded" for once, rather than the best deals being kept for new clients.

Taloncab_2

Yeah this account is great, especially since I only used the online aspect of ING Direct anyway. Good as ICICI for sure.

And has anyone seen ING Direct's ISA? It's just launched and is not bad at 6%AER - I set one up just because it literally took a minute. Job done!

RubyBish

The only reason ING launched this product was because of all the account closures. So it is a catch 22 situation.
A big thank you is due to the many people who jumped ship early and reaped the rewards of better rates from IceSave and ICICI after ING's absurd press statement. And at the same time made ING rethink their product line up.

Of course it must be my paranoia thinking that ING would carry out gorilla marketing by praising their new product on internet forums.

home_alone

RubyBish wrote:

.

Of course it must be my paranoia thinking that ING would carry out gorilla marketing by praising their new product on internet forums.

Mmmmmmmmm just thinking about that myself, they wouldnt would they.

gary

barrymoney

home_alone wrote:

Mmmmmmmmm just thinking about that myself, they wouldnt would they.

Well, either way, I just created myself a Web Saver account -- only takes a couple of clicks from the main page after login. So, thanks, whoever it was! Pretty odd situation though, not advertising this 'special' rate. Surely almost everyone accesses their ING account via the Web, so its exactly the same as the normal ING account. Strange.

Reestit_Mutton

RubyBish wrote:

The only reason ING launched this product was because of all the account closures. So it is a catch 22 situation.
A big thank you is due to the many people who jumped ship early and reaped the rewards of better rates from IceSave and ICICI after ING's absurd press statement. And at the same time made ING rethink their product line up.

Of course it must be my paranoia thinking that ING would carry out gorilla marketing by praising their new product on internet forums.

I'm a little puzzled by the belief that these accounts were only created as a knee-jerk reaction to a significant loss of business after not putting rates up on the main savings account for so long.

I happen to have an email shot from them dated November 2006 where they mention BOTH of these products, abeit at lower rates (of 5.3% fixed and 5.25% variable) before the November 2006 and January 2007 base rate rises came into play.

The only other base rate rise in 2006 was a quarter point rise in August, so it's hardly likely that droves of customers would have cried foul for the loss of one rate rise being passed on (in fact, missing out the odd rate rise is a ubiquitous practice in the savings industry). Afterall, if you want all rate rises to be passed on in full, you can always go for a tracker as that's what they're designed for.

Anyway, this should put paid to the lie that these accounts have only been available for a matter of weeks. They have been around since before the last two rate rises and certainly before many started to question ING's rate setting poilcy on its main account.

HtH
Reestit Mutton

climbgirl

RubyBish wrote:

Of course it must be my paranoia thinking that ING would carry out gorilla marketing by praising their new product on internet forums.

I wondered that as well, you get a lot of posts singing their praises where the poster only has 1 or 2 posts to their name. It must start happening more and more as this site gets more publicity in the media...

climbgirl

RubyBish wrote:

The only reason ING launched this product was because of all the account closures. So it is a catch 22 situation.
A big thank you is due to the many people who jumped ship early and reaped the rewards of better rates from IceSave and ICICI after ING's absurd press statement. And at the same time made ING rethink their product line up.

Yes, I think those who jumped ship are to be thanked for this, perhaps this is an example where "voting with your feet" has actually worked, who knows.

I know I left for Icesave last year - ING may have actually woken up and joined the real world in terms of rates, but waiting 3 months to do so just isn't good enough.

FaTB

Sorry but ING have lost me for good !!

No second chances, unless they did something really special, and I can't see that happening.

It's ICESAVE for me now.