ING - Injustice?

Jonners_2

Can anybody explain why ING offer Spanish investors 6% and UK only 5% reducing to 4.75% on 1 Aug. ( I think its more in OZ so clearly market forces prevail)
I guess the next related question is it possible to open up a foreign account with ING?

Debt_Free_Chick

Do you mean accounts operated via their Spanish branch?

It'll be because interest rates vary from one country to another - for borrowing, as well as saving

deemy2004

Still 6% in a EURO account..!!! That sounds VERY appealing given that the euro interest rate is just 2% !

Though offcourse you would have to be a spanish resident for tax purposes... :rolleyes:

ManAtHome

Not fluent in spanish, but looks like you get 6% for the first month, then it reverts to 2.25% pa. Direct link doesn't work, but start here and navigate to Spain http://www.ingdirect.ca/en/worldwide.html in case anybody out there has better than holiday spanish....

YorkshireBoy

ManAtHome wrote:

Not fluent in spanish, but looks like you get 6% for the first month, then it reverts to 2.25% pa. Direct link doesn't work, but start here and navigate to Spain http://www.ingdirect.ca/en/worldwide.html in case anybody out there has better than holiday spanish....

This is how I read it as well (with a little help from my holiday spanish & https://www.freetranslation.com !).

2.23% gross paid monthly, and an AER of 2.25%

My 14 year-old niece lives near Malaga, so the next time I e-mail her (to blag a free holiday ), I'll ask her to accurately translate - then we can compare the T&C's of this deal with those of our own English accounts.