Is the bank ING safe for Brits to put their money into?

Although ING has a dutch parent company it trades in the UK as ING Direct UK and is fully registered with the Financial Services Authority (FSA), like all other UK banks.

Customers of banks registered with the FSA are covered under the Financial Services Compensation Scheme (FSCS). Provided you invest no more than £50,000 per person with a provider, including ING, then if the bank failed you would get your money back.

The only thing to be careful off is when a bank trades under more than one name but is covered under the same licence. For example Halifax, Bank of Scotland, Intelligent Finance and Birmingham Midshires. If a provider has one licence the money is covered once so you would be protected up to £50,000 for all money invested in all four banks mentioned rather than £50,000 with each.

"The way you spread out your savings is crucial in terms of protection and compensation, but it is also an extremely complex system that is difficult to navigate.

The UK's level of savings compensation was raised by £15,000 to £50,000 last year by the Financial Services Compensation Scheme (FSCS).

However you only receive this £50,000 coverage once under each bank or building society's 'compensation licence'. Each bank usually has its own licence.

Therefore it is best to spread your savings over as many savings institutions as possible. Yet a series of mergers, takeovers, joint ventures and subsidiaries has created an impenetrable web for savers to negotiate.

The website, thisismoney.co.uk reveals who owns who to make sure you don't unwittingly bank savings twice with the same institution.

In plain terms, if you have less than £50,000 savings, then yes, it's safe but always check the banks fine print and find out if the current account has any Compensation Scheme.

yes as long as you have below the 50k Euro minimum all youre money is insured. If you create a savings account now using this link you get 25 dollars. 25 Dollars is added if you open an account with more than 250$.

https://banking.ingdirect.com/savings/set_promo_co...

no dont thts one of the main banks that r in dept