Barclays is set to buy ING Direct UK's savings and mortgage businesses.

This means if you have an ING Direct UK savings account, or a mortgage with ING Direct UK, you could soon find yourself as a customer of Barclays bank instead.

Approximately 1.5 million customers will see their accounts change hands as part of the takeover and ING Direct will be writing to all those affected in the coming weeks to explain exactly what it means for them, and how and when the transfer will take place.

However, for the time being your accounts will still be held by ING Direct UK, and you'll still be able to access and manage them as you usually do.

Similarly, while it's possible that the terms and conditions and interest rates applied to your accounts will be updated down the line, there will be no imminent change.

Barclays have promised their newly acquired customers will enjoy equivalent, if not better terms when they come on board.

The takeover can only go ahead if it gets regulatory approval - assuming it's granted, completion is scheduled for Spring next year.

We'll let you know more about the transfer process as soon as the details have been confirmed.

What else is happening?

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