Do you have to have an account in the UK to open a savings account with ING Direct?

Question

I am looking for a savings account to put a few thousand dollars into. I was looking into ING Direct because it has higher interest rates, but don't know how this works if my checking account that will be connected to it is in the U.S. How will taxes work if the account isn't in the U.S.? Any help or suggestions?

Answer 1

ING is a foreign based company, but it like many other major money center banks have US operations, US Chartered Bank subsidiaries and are paying for FDIC insurance on those subsidiary banks.

From the INGdirect web site:

"Safe and Secure - FDIC Insured
Your deposits at ING DIRECT are FDIC insured up to $100,000 per depositor. Keep in mind that individual and joint accounts are insured separately, so if you have both types of accounts with us, your total deposits can be insured up to $200,000; that's up to $100,000 in all of your individual accounts, and up to an additional $100,000 in all of your joint accounts. ING DIRECT's FDIC certificate number is 35489. You can learn more about the FDIC at their website, www.fdic.gov. We are registered with the FDIC under the name ING Bank, fsb."



I have a ING Direct & and HSBC Direct linked to my locally based US bank.

They will file the standard tax forms with the IRS just like any other US Bank on the interest you earn.

Answer 2

ING is one of the largest Dutch Bank & Insurance company in the world. Most european financial institutions are less effect withe the current financial turmoil. So it is safe to open a saving account with it.

Answer 3

So open with ING Direct in the US. They are available in several different countries.

Answer 4

No.