ING Direct ISA - this look ok?

Rayvon

Hi guys

Just looking on the ING Direct website and the ISA looks good. Info here:

http://www.ingdirect.co.uk/savings/faqs/cash_isa.html

Is this a reputable company, and does this look worthwhile going for?

Jake'sGran

I used to like ING but it now has a reputation for not paying good savings rates. I opened an ISA with them for this year and it was an excellent rate but only for 6 months. They do give you the figure for what you really get at the end of 12 months. I decided I could do better and recently transferred it.
You can check on the best ISA rates at the beginning of MSE or some other comparison table on line.

mk-donald

Remember when ING offered one simple/leading rate and their lifebelt was everywhere ? It was their way to build custom in the UK from a 0% base.

I trusted them and then they progressively got rid of that simplicity offering some investors fixed and bonus deals, and the leading rate became a lagging rate - indeed a peverse rate I seem to remember when they made CUTS while market rates were INCREASING. Meanwhile I had baled out but many people don't have the time/knowledge to realise what was going on.

You'll have seen MSE news berating lazy savers that their ING savings a/c's were no longer getting the leading rate they joined to get. As such you should show some considerable scepticism over any long-term relationship with them - which ISA savers get lulled into even more than ordinary savers.

Crabman

Have a read of: The Best Mini-Cash ISA: A tax free savings account

Within the article is a link to Moneysupermarket which is an online comparison service of ISAs. However the article provides the best buys and as it's updated weekly, it's the best guide to follow when looking for an ISA - currently the best buy is the NS&I Direct ISA :beer: