Ing decrease Rates On Web Saver

EalingSaver

Primrose wrote: »

I too have moved most of my money from ING to Icesave, and when they announced their Websaver offer, I switched most of the remaining balance to that for the 6 months duration. When that offer matures in June ....

Ummm. Have I missed something here? Is the current rate on their websaver a dreaded bonus rate? I certainly hadn't spotted that at the time I opened mine and transferred from the normal account.

ManAtHome

They offered a 6 months fixed as well as the websaver.

EalingSaver

ManAtHome wrote: »

They offered a 6 months fixed as well as the websaver.

OK, this is what codetown was probably referring to in his posting. I don't remember them informing me of that one - funny that, seems to be a bit of a theme with ING.

From a standard high street bank/BS you expect this kind of stuff. Amazing how quickly they went from promises of straightforward no frills, no catches, competitive savings to normal UK financial instituition behaviour. I'm perversely hoping that at the next rate increase they stand still and the interest gap opens up enough to make it worthwhile for me to switch remaining monies to one of my other accounts. Not in the true money saving spirit but retribution has a ££ value as well I guess.l

ManAtHome

Think I may have received an email about it... around 6 weeks after I'd moved most of my cash to IceSave. Half a percent difference (my criteria for moving) breaks even at around 3 months at worst.

Over the years I've built up a "database" (no, not an electronic one!) of bad guys - sadly a long and growing list. Quite prepared to go back given a decent rate with guarantee, but not if they're only slightly ahead of the competition.

IGK

I too received such an email, and it took me a minute or two to realise that it was actually a decrease.
I am now hopping mad...
Needless to say I will be removing my money, but the thing that annoys me the most is all the effort I went to to go through all the silly hoops to get this websaver account up and running, and transferring funds via the ING Direct account, only, 2 months later, to be told in a deceitful way, that the rate was decreasing. This in an environment of increasing rates.
I am wondering what my next step will be. A letter if I can be bothered, but probably just p****g in the wind....:mad:

nilrem_2

Strange thing is that I have received no email from ING about a decrease!

GCH888

nilrem wrote: »

Strange thing is that I have received no email from ING about a decrease!

Well technically nobody did! I don't think the word "decrease" was used anywhere in that ING Direct email. It's really a genius piece of PR and I'm sure it'll be mentioned in a number of dissertations written by students who are studying for their marketing degree.

IGK

While I'm in rant mode... to have given them the benefit of the doubt, and then to be slapped in the face is the final straw. I shall not only remove my money, but clsoe my accounts as well - I normally leave a minimal amount in, but in this case I don't ever want to have anything to do with ING again.

nilrem_2

GCH888 wrote: »

Well technically nobody did! I don't think the word "decrease" was used anywhere in that ING Direct email. It's really a genius piece of PR and I'm sure it'll be mentioned in a number of dissertations written by students who are studying for their marketing degree.

I didn't receive any email from them TBH Lat one I received was to tell me my statement is ready! :eek:

Optimist

I received a letter in the post this week. I have now transferred my money away from them and written back to tell them how disgusted I am with them and telling them to close my account completely