ING concerns

iVillage Member
Registered: 07-26-1999
ING concerns
5
Fri, 11-07-2008 - 10:59am

I've just found out that ING is getting a bailout from the Dutch government. That scares me because I thought they were very secure.

All of my savings are there; I was going to keep adding to it. I'm not going to invest in any sort of funds and I don't want a lot of different bank accounts. I'm wondering if i should move my money around a bit or just keep it all with ING. Canada savings bonds are on sale but I don't really understand that whole process. What do you all think?

Avatar for mahopac
iVillage Member
Registered: 07-24-1997
Fri, 11-07-2008 - 2:37pm

If you have an ING savings account, it's FDIC insured - but probably best not to keep everything in one place, anyway.

Kelly

iVillage Member
Registered: 01-25-2006
Fri, 11-07-2008 - 2:47pm

Does Canada have something similar to the US FDIC insurance? If so and you are under whatever legal limits, then I wouldn't sweat it.

Peg

iVillage Member
Registered: 03-17-2003
Fri, 11-07-2008 - 2:51pm
ING stands for Internationale Nederlanden Groep.
iVillage Member
Registered: 07-26-1999
Fri, 11-07-2008 - 4:07pm

Thanks to all of you. I am under the limit by far. But don't want to lose what I have. I am feeding off the "keep your savings in a sock" mentality of my family. People who grew up poor and had parents that struggled through the depression...

Generally just unsure of how to diversify my savings. Don't want to become scattered.

iVillage Member
Registered: 10-10-2007
Fri, 11-07-2008 - 5:21pm

A lot of the banks received assistance from the government, especially in Europe! I feel like the European banks had a lot of pressure to take money too, so it doesn't even mean they're not sound...


Diversifying is always good, but no need to have a bunch of different savings accounts. If you want to invest in something different for a higher return, that's different...