ING Direct

You would be protected by the Financial Services Compensation Scheme

which covers all the banks in the UK. Their web site will tell you exactly what they cover. However, the chances of INGDirect going bust is remote - they are part of which is a rather large group.. Regards Sunil

Virtually no chance of going bust - one of the strongest banking groups in the world. I think they have a AA credit rating.

To be precise, for deposits, 100% of the first GBP 2,000 and 90% of the next GBP 33,000. Nil thereafer.

If you're salting away a *lot* of money, best to spread it across a number of institutions and investments.

Wasn't that what they said of BCCI, Enron, Worldcom, etc.?

Jon

AFAIAA there's also compensation available from the Dutch Authorities, in addition to the British scheme. Or at least there was when we opened our account.

Rgds

__ Richard Buttrey Grappenhall, Cheshire, UK __________________________

Did they? And even if they did, does that mean its not true of ING when those organisations have no relationship with ING?

Chris

"Chris Blunt" wrote

It's got nothing to do with whether or not ING has any relationship with the companies listed.

The point is that just being BIG, doesn't guarantee stability. Just look at Equitable Life!!

analogy noun [C or U] a comparison between things which have similar features, often used to help explain a principle or idea

(c) Cambridge University Press 2004

Jon

You could say this of any bank. Do you have any reason to be suspicious of ING particularly? Is it because you haven't heard of it?

Rob Graham

I think people are becoming increasingly concerned that a big down-turn is around the corner and that, as in Japan and Argentina, banks can suddenly go bust. I currently have my savings in two main banks but am about to begin sharing it out amongst other ones.

A downturn in what? Banking?

Rob