| ING offering 6% gross pa.... [message #390253] |
Sa, 20 Mai 2006 10:44 |
|
.......but there is a sting. 6% gross pa is only available on additional
savings between 15 May and 1 August 06. Existing savings attract only 4.5%
AER. You cannot swing the system by withdrawing all your money and
redepositing it - "reward" interest is only payable on balances above the
opening balance as at 15 May. Additional interest will be added on 2
August, normal interest will be paid monthly, as normal.
|
|
|
| Re: ING offering 6% gross pa.... [message #390254 ] |
Sa, 20 Mai 2006 10:55 |
|
Wedell wrote:
> ......but there is a sting. 6% gross pa is only available on additional
> savings between 15 May and 1 August 06. Existing savings attract only 4.5%
> AER. You cannot swing the system by withdrawing all your money and
> redepositing it - "reward" interest is only payable on balances above the
> opening balance as at 15 May. Additional interest will be added on 2
> August, normal interest will be paid monthly, as normal.
>
>
>
the other sting is that it's only available to existing customers.
|
|
|
| Re: ING offering 6% gross pa.... [message #390262 ] |
Sa, 20 Mai 2006 14:50 |
|
"Wedell" <gu47otu [at] hotmail.com> wrote in message
news:5GAbg.3070$_04.1724 [at] newsfe1-gui.ntli.net...
> ......but there is a sting. 6% gross pa is only available on additional
> savings between 15 May and 1 August 06. Existing savings attract only
> 4.5% AER. You cannot swing the system by withdrawing all your money and
> redepositing it - "reward" interest is only payable on balances above the
> opening balance as at 15 May. Additional interest will be added on 2
> August, normal interest will be paid monthly, as normal.
>
I was tempted... but thought that the delay in transfers and the loss of
interest (possibly transferring back in August as well) would outway any
gain in interest!
|
|
|
| Re: ING offering 6% gross pa.... [message #390265 ] |
Sa, 20 Mai 2006 19:47 |
|
On Sat, 20 May 2006 08:44:49 GMT, "Wedell" <gu47otu [at] hotmail.com>
wrote:
>......but there is a sting. 6% gross pa is only available on additional
>savings between 15 May and 1 August 06. Existing savings attract only 4.5%
>AER. You cannot swing the system by withdrawing all your money and
>redepositing it - "reward" interest is only payable on balances above the
>opening balance as at 15 May. Additional interest will be added on 2
>August, normal interest will be paid monthly, as normal.
Ref? I hold an ING account, but can't find anything about this on
their website...
--
to respond via email, visit:
http://tinyurl.com/e48z9
|
|
|
| Re: ING offering 6% gross pa.... [message #390266 ] |
Sa, 20 Mai 2006 20:20 |
|
Tom Robinson wrote:
> On Sat, 20 May 2006 08:44:49 GMT, "Wedell" <gu47otu [at] hotmail.com>
> wrote:
>
>> ......but there is a sting. 6% gross pa is only available on additional
>> savings between 15 May and 1 August 06. Existing savings attract only 4.5%
>> AER. You cannot swing the system by withdrawing all your money and
>> redepositing it - "reward" interest is only payable on balances above the
>> opening balance as at 15 May. Additional interest will be added on 2
>> August, normal interest will be paid monthly, as normal.
>
> Ref? I hold an ING account, but can't find anything about this on
> their website...
>
It comes as part of a mailing. Landed on my mat this morning.
|
|
|
| Re: ING offering 6% gross pa.... [message #390274 ] |
So, 21 Mai 2006 12:12 |
|
Wedell wrote:
> ......but there is a sting. 6% gross pa is only available on additional
> savings between 15 May and 1 August 06. Existing savings attract only
> 4.5%
> AER. You cannot swing the system by withdrawing all your money and
> redepositing it - "reward" interest is only payable on balances above the
> opening balance as at 15 May. Additional interest will be added on 2
> August, normal interest will be paid monthly, as normal.
So much for their "no catches" advertising slogan. Their web site still says
"One consistently great rate for everyone".
--
Jeremy Sanders
http://www.jeremysanders.net/
|
|
|
| Re: ING offering 6% gross pa.... [message #390280 ] |
So, 21 Mai 2006 14:19 |
|
Tom Robinson wrote:
> Ref? I hold an ING account, but can't find anything about this on
> their website...
There is a link to it when you log on to your account.
|
|
|
| Re: ING offering 6% gross pa.... [message #390283 ] |
So, 21 Mai 2006 14:47 |
|
Jeremy Sanders wrote:
> Wedell wrote:
>
>> ......but there is a sting. 6% gross pa is only available on additional
>> savings between 15 May and 1 August 06. Existing savings attract only
>> 4.5%
>> AER. You cannot swing the system by withdrawing all your money and
>> redepositing it - "reward" interest is only payable on balances above the
>> opening balance as at 15 May. Additional interest will be added on 2
>> August, normal interest will be paid monthly, as normal.
>
> So much for their "no catches" advertising slogan. Their web site still
> says "One consistently great rate for everyone".
Why shouldn't it? They *still* only have *one* consistently great rate
for everyone, since the not-for-everyone rate is not consistently great,
it is plainly described as temporary and restricted.
It's obviously a one-off reward of about a third of a percent offered to
anyone moving new funds into their account, with the condition that you
must leave the funds there at least for the 2.5 months to 1st Aug (with
pro-rata reward reduction if not), and of course they'll be hoping you
then leave the funds there. Advertising this as a temporary interest
rate boost is just window-dressing, and yes, it does verge on misleading.
It's a trick designed to entice people who've split their savings between
different banks to move their funds to ING. It's an odd marketing strategy
since on the one hand it hopes that people lack the inertia to leave their
other funds where they are, yet on the other they must be hoping that those
people they've managed to persuade will then *not* lack the inertia to move
their funds back out after 1st August. One good reason people may have for
wanting to keep their savings split is the "all your eggs in one basket"
rule, especially if their total savings exceed the limit in the deposit
protection scheme.
|
|
|
| Re: ING offering 6% gross pa.... [message #390465 ] |
Mi, 24 Mai 2006 22:53 |
|
"Jeremy Sanders" <jeremy+ukfinance [at] jeremysanders.net> wrote in message
news:e4peeq$2n1$1 [at] gemini.csx.cam.ac.uk...
> Wedell wrote:
>
> > ......but there is a sting. 6% gross pa is only available on additional
> > savings between 15 May and 1 August 06. Existing savings attract only
> > 4.5%
> > AER. You cannot swing the system by withdrawing all your money and
> > redepositing it - "reward" interest is only payable on balances above
the
> > opening balance as at 15 May. Additional interest will be added on 2
> > August, normal interest will be paid monthly, as normal.
>
> So much for their "no catches" advertising slogan. Their web site still
says
> "One consistently great rate for everyone".
>
Just waiting for the Nationwide to start their "Brand new money only"
adverts...
|
|
|
