Have just had an e mail to let me know that my web saver account with ING is going to have have interest rate of 5.5% AER - down from 5.65%...

Am not best impressed!

Can I ask if anyone can recommend between ICESAVE and ICICI? I know ICESAVE had some set up problems a while back, and so have avoided them.

Does anyone have any other recommendations - I saw Birmingham Midshires mentioned on the best savings rates thread - are they hassle free? Thanks

Have accounts with Icesave, ICICI and Alliance and Leicester - all seem OK except the A&L account tried to take their payment twice in error and nearly sent us overdrawn.

Will be emptying our ING Websave account. Disgusted they're doing this just as interest rates are picking up. ING are a joke now, they send stupid emails saying that their customers don't need to worry about their rates when they're with ING etc when they now really do with their main 4.75% being below RPI!

I'm going to get out of ING too, they are so untrustworthy with their rates. Today I got the email about the new interest rate on the websaver. No mention of a drop, only a line about how they consistently offer the best rates; they come across to me as dishonest.
Hmm, where to go instead?

Icesave are cool. As they take money from your nominated account via Direct Debit you get to avoid the three working day wait with BACS where your money is in limbo and not earning interest. You can specify the day the money will be taken from your bank account when you make the transfer, so you can plan accordingly.

Yes i've got the e-mail to , ING is one of the biggest banks in Europe and there big in the US as well , maybe the've been hit by sub prime over there and need the money ,wonder what there going to do if interest rates go up as expected next month , i reckon there put up there main account from 4.75% to 5% and leave the web saver at the new rate of 5.5%.
I have Icesave but keep them under 30k as there a smallish bank , Birmingham Midshires have that one to , pays 5.7% from applying to finally getting your money in it does take 2-3 weeks but had no problems since , the 5.7% INCLUDES a first year bonus , and IIRC you are only allowed 6 withdrawals a year .
Last month bought both issues of NSI index linked saving certs , despite the 3 and 5 year terms , you only need hold them for a COMPLETE 12 MONTHS to get all the growth , tracks RPI plus some interest both paying nearly 6% TAX FREE .

Thanks for the tips, especially Grey Shark - will be off to do some research on NSI index linked saving certs if its only for a year. I'm not one of the posters that has a house's worth of cash hanging around to invest, so the keeping it under £30k won't be a problem!!

Thanks again for the advice

If HM Treasury goes bankrupt then we're deep in the sh1t anyway