I switched to ING last year after Wamu got bought by Chase. My local WaMu branch had a great staff, but things changed when they went to Chase. I hope Chase doesn't buy ING. The WaMu to Chase transition is a good example of one company focused on customer service being bought out by another company focused on fees.
Joshua
· 1 month ago
How sad...I really loved that bank.
Ross
· 1 month ago
Ohhhh crap... they were literally the best customer service department I have ever dealt with in any industry. And the website is up there too. The lack of overdraft fees is what seals the deal for me. The day that goes away, I'm off to a better rate as well.
Derek
· 1 month ago
"ING Group received a taxpayer bailout of €10 million ($14.9 billion) and the..."
Has the dollar fallen that much?
Flexo
· 1 month ago
I *always* do that. I've corrected the post.
BobBobBob
· 1 month ago
I really love their automated billing...I hope someone good buys them. I'll leave if I need to, but I hope I won't have to.
Evan
· 1 month ago
Flexo,
I bet the interest rates would rise, only because the purchaser would fear the mass exodous of cash (a la WaMu). That being said, I don't understand the sale of this arm of their business - what is ING going to keep just their brokerage arm?
What will ING be made of without their direct banking? It seems like it be the equivilent of Merck selling their pharma arm?
Miguel
· 1 month ago
Evan, ING is a "little" bit more than the ING direct in the US. In fact it is the eighth-largest company in the world... so I guess they will be made of a lot of things if they do sell their operations in the US. And Flexo, I know the dollar has been losing its compared to euro, but €10 million its still a little bit less than $14.9 billion... :)
Evan
· 1 month ago
Sorry Miguel I should have been clearer - I meant what are they going to be in the US Not worldwide.
Tom Dziubek
· 1 month ago
Geez, first Aaron Patzer with Mint and now possibly Jim Kelly from ING Direct. Pretty soon, no one's going to want to be interviewed by us anymore. We're becoming the Madden Curse of personal finance podcasts. LOL
Eric
· 1 month ago
LOL @ Tom. Stop interviewing these people! Curse!
And please keep us updated Flexo. I love ING but if new management isn't up to par, I have no qualms moving.
Tom Dziubek
· 1 month ago
If Greg Grunberg's character ever gets killed off on Heroes, you'll know who to blame.
ctreit
· 1 month ago
Some of my savings are at ING Direct. But I am not worried about the changes that may come in 2013, at least not yet. I will cross that bridge when I get there. There are a bunch of internet banks out there. Maybe I will have deserted ING on my own by the time this deal goes through.
Aside from the consequences for my personal savings, I think this request from the Dutch government is great. We should do the same. We have too many banks that are too big too fail. We made some of our banks even bigger. Now we have fewer banks that are too big to fail, but they are way too big to fail now. How much sense does that make?
harm
· 1 month ago
I don't know how much of an "unmitigated success" ING has been, if they required a bailout... maybe Netbank would still be around if someone had given THEM 14 Bil.
All Comments
Has the dollar fallen that much?
I bet the interest rates would rise, only because the purchaser would fear the mass exodous of cash (a la WaMu). That being said, I don't understand the sale of this arm of their business - what is ING going to keep just their brokerage arm?
What will ING be made of without their direct banking? It seems like it be the equivilent of Merck selling their pharma arm?
And Flexo, I know the dollar has been losing its compared to euro, but €10 million its still a little bit less than $14.9 billion... :)
And please keep us updated Flexo. I love ING but if new management isn't up to par, I have no qualms moving.
Aside from the consequences for my personal savings, I think this request from the Dutch government is great. We should do the same. We have too many banks that are too big too fail. We made some of our banks even bigger. Now we have fewer banks that are too big to fail, but they are way too big to fail now. How much sense does that make?