Reminder: ING 6m Fixed a/c mature today 2 Aug and paying just 5.00% now so move it...

mk-donald

Guyz

ING 6 month fixed a/c's (paying 6.0% APR from memory) mature today 2 Aug 2007 and the money put back automatically into their POORLY PAYING standard Direct Savings a/c at 5.00% as opposed to an extra 1.00-1.25% elsewhere. Mine wasn't there at 2am this morning, but was there when I just looked and my transfer out was shown as being made 'today'.

So if you've got any gumption get yours MOVED to somewhere that is offering a decent rate. Shame on ING for going from their original one leading rate to the current mixture of offers and un-leading rates.

I think the fixed a/c was a general offer and not just for a few - my apologies if it doesn't generally apply but anyone with money in ING should be considering if it's a suitable place for it.

MKD

nilrem_2

There is one upside to ING though, unlike Icesave it is possible to operate ones account there, probably due to the fact that most customers have moved their cash out, ING site is fast compared to Icesave's almost unuseable effort (ATM)

alared

Site down this morning when I tried to log-in.
Maybe a new tactic to stop you moving your money elsewhere!

Milarky

You can empty this account to 'nil' at any time by sending money elsewhere, thankfully (I did this yesterday.) But maybe it's better not to withdraw until Monday to avoid crossing the weekend (2 days @ 5% is still better than a poke in the eye!)

lolly5648

Can I send this direct to Icesave or does it have to go into my bank account and then out again?

Milarky

lolly5648 wrote: »

Can I send this direct to Icesave or does it have to go into my bank account and then out again?

You have to withdraw from ING to a nominated current account via BACS. As I understand Icesave only allows paying in by direct debit ? So your best bet appears to be to set up a a BACS withdrawal from ING to current a/c on Monday (avoiding w/e) then give a direct debit instruction with Icesave on the day of the receipt of funds (Wednesday) in your current account. If Icesave works like ING does, they should be able to collect that payment in two days (that is, by Friday)

You might be able to do slightly better than this and request a collection on Tuesday (one day before ING payment will arrive) so that the deposit occurs on a Thursday, and the whole movement has lost just three days interest.