New ING rates

IGK

I'm glad I took all my money out of ING, because if I'd kept it in I would then have to worry about all these confusing rate movements.
The Websaver rate goes down from 5.65 to 5.5, then the ING Direct rate goes up from 4.75 to 5.0.
That's all far too complicated for the likes of me. I would much rather they had a nice, easy, consistent approach then I wouldn't have to worry about checking the best-buy tables all the time...

MrChips

What is going on ING?? I want a CONSISTENT rate, not one which is going to rise occasionally. Put it back to 4.75% this instant!

PJD

I've got my money in ING ISA account - 6% - which isnt the best, - but I didnt think it was too bad either...?

The reason i opened it was i needed it quick before the 5th of April, - so i could whack another 3k in.

Should I move my money?

codetown

People are not so stupid as ING might think!

Read this interesting article:
Angry ING savers pull £3bn
http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=420410&in_page_id=7&ct=5

chesky369

I can't understand ING's attitude - savers have withdrawn over 10% of the bank's holdings.

GCH888

codetown wrote: »

People are not so stupid as ING might think!

According to Martin Rutland, head of corporate communications at ING Direct, his statement does seem to imply he think ING savers are stupid.

Quoting from the article MR says: 'The vast majority of customers are still with ING but those customers with higher balances who are rate conscious are people who are constantly looking for best rates in the market.'

Doesn't this imply that MR thinks only those people with lots of money are clever enough to move their money out, whereas for all other savers with small balances are too thick to notice they're being fleeced?

Perhaps I'm reading too much into it

frank_potter

Apparantly ING's profits are falling.....................................

http://www.cnbc.com/id/18646352

I doubt whether treating customers badly will help them very much.

McSaver

PJD wrote: »

I've got my money in ING ISA account - 6% - which isnt the best, - but I didnt think it was too bad either...?

The reason i opened it was i needed it quick before the 5th of April, - so i could whack another 3k in.

Should I move my money?

Transfer your ISA out of ING when the promotion rate finishes and ask for a transfer form rather than withdraw it.

[Deleted User]

McSaver wrote: »

Transfer your ISA out of ING when the promotion rate finishes and ask for a transfer form rather than withdraw it.

Can you transfer ISAs mid tax year? I thought you could only open one ISA per tax year.

I have an ISA with ING and the bonus rate ends in October.

Optimist

Deleted_User wrote: »

Can you transfer ISAs mid tax year? I thought you could only open one ISA per tax year.

I have an ISA with ING and the bonus rate ends in October.

You can transfer an ISA whenever you wish providing the provider you wish to go to accepts transfers in and you must get the ISA provider you wish to go to do the transfer request. So basically you open the account and fund it with your current ISA. If that makes sense!