ING savings' experience?

  rickf 13:44 13 Jan 2009
Locked

ING Savings A/C

HI,
Anyone here with experience of saving with this bank? Pay 5% under the present economic climate is excellent. Thinking about it. Any experience you have would be much appreciated. Thanks. I am only asking for your experience and not advise or the FE will close this thread.

  oresome 13:57 13 Jan 2009

I used to bank with them when they had "one simple rate available to everyone."

That changed sometime ago and there are now bonus rates for new customers and special deals for targeted groups etc.

At that point we parted company, but their marketing department doesn't give up. They sent chocolates the other week through the post!

  sunnystaines 14:00 13 Jan 2009

they are a dutch bank a few years back had good rates then they dropped to below other banks. Aways had good service from them when they had good rates.

not used for a couple of years.

  rickf 14:13 13 Jan 2009

Hi Thanks. Anyone with more recent experience. I got this info from Motley Fool Inside Money

  Clapton is God 14:40 13 Jan 2009

I've used them for many years.

Be aware, as oresome says, that the 5% on offer includes a 'bonus' which disappears after a year.

Their online banking is excellent and easy to use and allows you to transfer money to and from a designated UK current account.

Be aware, also, that if they do go belly up, you will have to claim compensation through the, as yet untried and untested, Dutch financial compensation scheme.

  pcmags 15:55 13 Jan 2009

Very easy to move money around with them & service is very good.

  rickf 17:07 13 Jan 2009

Many thanks to all who have contributed in my search for confidence in this bank. I'll have to make a decision soon as I'm sure this rate will not stay around for long.
All the British banks and Buiding Societies seem to be offering next to nothing for savers at the mo, therefore thinking of ING. However, Tesco is a possibility with 3.6% with the added advantage/security of being British.My own bank is offering 2% (????)

  Al94 17:19 13 Jan 2009

Have a read here click here Personally I would stick to a UK based outfit at around 3.6%

  GANDALF <|:-)> 17:22 13 Jan 2009

My grandfather always said that any bank which pays more than 2% more than the rest was desperately short of cash which is why they offer such good rates *cough* Icelandic banks *cough*.

G

  rickf 18:15 13 Jan 2009

Thanks AI94. That makes interesting reading and has helped to increase my anxieties about foreign banks. Decision one made. Uk banks it is.

  Al94 18:22 13 Jan 2009

Very wise imho.

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