Ing Direct Savings Accounts

Geoffr_2

Headline was to ditch Ing Direct Savings Account paying 4.75% AER. This is understandable but they now offer a Web Saver Account paying 5.65% AER. Is this worth account considering?

home_alone

Geoffr wrote:

Headline was to ditch Ing Direct Savings Account paying 4.75% AER. This is understandable but they now offer a Web Saver Account paying 5.65% AER. Is this worth account considering?

I would say no If you had the last lot of ing fixed accounts ending a couple of weeks ago you would have noticed that at the half term mark it was not competitive and at the end was pretty rubbish, this could be the same. I have an instant access account which pays more than the ing account at 5.70% can you guess which one

gary

molly_mandy_2

[QUOTE=_Web_Saver_Account_paying_5.65%_AER._Is_this_worth_account_considering?_[/QUOTE]

I would say 'Yes'. It takes a few minutes to open the 5.65% account online.
When it is in operation you can transfer the money across with no loss of interest at all. ING still have a very easy to use internet system.

If you open a 5.70% account somewhere else you will have the hassle of opening something new for the tiny .05% and anyway you will lose interest in the transfer time of removing it from ING and sending it elsewhere.

Just my opinion

chesky369

If you've already got the account it's not worth moving the money now, you should have done it weeks ago, so you might as well take up the new offer. If you were thinking of opening an account with them, then go to ICEsave instead.

visarts

They seem to be offering this to existing account holders withot advertising it much. I opened mine a week a go and it works pretty seamlessly. You simply switch money between the regular account and webaccount and it appears to transfer instantly (eg to move funds out you have to switch money from websaver into the regular account and then into the nomunated account). The one big advantage about ING is there is no penalty for withdrawal. 5.65 isnt a bad rate if you cant be bothered to switch.

vansboy

Molly Mandy is right, it's what we've done.

Saves a LOT of hassle & the interest you'd loose, moving your millions of £$£$ saved, would negate any additional tiny higher interest.

However, if you're starting afressh, it'd make sense to look at the others.

Ing must have felt a considerable drain on their investors funds, to introduce this on line offer - we didn't know of it, till they sent a short e mail.

VB