ING orange account

[Karennina]

I have a  question about the ING Orange account.
We are done with Finas now and have opened the Orange I think 30 day account, now my question is what ever figure you have opened the account with or what ever the amount is in there when the interest is paid is it calculated at whatever the interest rate they are offering at the time i.e is it worked out over a year and divided by 12 months and then paid into your account on he 30th day and it is your choice whether you choose to withdraw it or whatver? thanks for any help it has been so confusing   

[Liz 101]

Karen, the greatest thing about the orange account is that you can withdraw or pay in cash whenever you need to without loosing interest, as the interest is paid daily. However, the rates are varied from time to time.

I don't think there is a 30 day (or whatever) orange account

[Karennina]

Thanks Liz was all so confusing with the language barrier, basically what we can not work out is whether the interest is paid annually or monthly at whatever the rate they are offering at the time for example say we opened the account with 1000tl and the rate was 8% would we get 8% interest on our original figure every month (ish) or annually sorry for all the questions  

[Liz 101]

Karen, the interest is paid daily, so at 8% per annum, you'd accrue IRO 0.02% per day.

With your example of 1000tl invested, at the end of a year it would accrue 80 tl interest less tax @ 15% so would would be net interest of 68 tl

[Karennina]

Right I am getting it now Liz thanks for taking the time to explain, we or rather I thought you got 8% every month on your capital so basically 12 months payments of interest of 8% per year, we knew my figures were too good to be true

[tonysue]

Ha ha Karennina, I think your way is much better.

[lance]

The last few times i have been to ING the upstairs counter has been closed is it open set times ,so much easier ,when i was with finans i have still queued up stairs for over an hour 3 nice girls or not thats the reason i left there.

[tinkerman]

Ive never queued for an hour at Finans, at most 20 mins. dont go first thing in the morning or Friday afternoon.

[corbindallas]

ING upstairs cashier desk has gone, it has been completley removed and is just a vacant space now, as is the rest of the floor all empty desks apart from 2. You have to take a ticket and wait downstairs for transactions, also gone is their customer service, there is a lady upstairs (near where Alper used to sit) who speaks ok English but if she laid back anymore when telling her your concerns/wants/needs she'd be on the ground!This is a bit like what happend to Fortis when the new accounts manager took over, it's a shame as their Orange account is a good and handy account. Also just to add the cash machine outside the old Kipa keeps your ATM cards when the sun heats up the buttons they do not work and therefore cannot input your pin and so the machine keeps your card as if you were trying to input a wrong pin because of this!

[jackstee]

I wonder if this is connected in any way to ING selling up in UK