Am I allowed another ING Direct Account

StrongWork

Not sure what the dealio is with this.

Opened an ING Direct savings account a couple of years back and enjoyed the high rate of interest for the first year. It has now gone back to the low (regular) interest rate.

Is it possible to close this account and open a new one, transfer the funds around and into the new one to enjoy the higher interest rate again for a year?

gt94sss2

StrongWork wrote: »

Is it possible to close this account and open a new one, transfer the funds around and into the new one to enjoy the higher interest rate again for a year?

Yes, but you would need to wait for 6 months between closing your current ING accounts and opening a new one.

This is because ING Direct won't treat you as a new customer (thus getting the higher/introductory rate) unless its been at least 6 months since you've closed any previous ING accounts.

Regards
Sunil

psychic_teabag

It may just be that it's 6 months since holding a savings direct account (or whatever it's called). I had one of these and another one. I phoned up to close all accounts, and they said I could hang onto the other one, and still qualify for the "new-customer" rate on the savings direct account in 6 months. They told my OH the same. Haven't put that to the test, since their rates haven't been all that great since the 6 months have elapsed.

pop_gun

Barclays is in the process of buying the ING savings and mortgage arm of ING direct. I don't think barclay's will continue with the impressive rates ING had.

StrongWork

Thanks for the info guys.

Yes, tbh the rate isn't all that impressive at all anymore so not sure it's worth the bother over my standard Santander E Saver.