Consumerism Commentary - Latest Comments in ING to Sell Online Bank ING Direct By 2013

Re: ING to Sell Online Bank ING Direct By 2013

harm — Thu, 29 Oct 2009 16:57:12 -0000

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.

Re: ING to Sell Online Bank ING Direct By 2013

ctreit — Thu, 29 Oct 2009 06:17:50 -0000

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?

Re: ING to Sell Online Bank ING Direct By 2013

Tom Dziubek — Thu, 29 Oct 2009 00:10:02 -0000

If Greg Grunberg's character ever gets killed off on Heroes, you'll know who to blame.

Re: ING to Sell Online Bank ING Direct By 2013

Eric — Wed, 28 Oct 2009 23:31:30 -0000

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.

Re: ING to Sell Online Bank ING Direct By 2013

Tom Dziubek — Wed, 28 Oct 2009 13:46:32 -0000

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

Re: ING to Sell Online Bank ING Direct By 2013

Evan@MyJourneytoMillions — Wed, 28 Oct 2009 13:11:08 -0000

Sorry Miguel I should have been clearer - I meant what are they going to be in the US Not worldwide.

Re: ING to Sell Online Bank ING Direct By 2013

Harlan Landes — Wed, 28 Oct 2009 12:21:29 -0000

I *always* do that. I've corrected the post.

Re: ING to Sell Online Bank ING Direct By 2013

Miguel — Wed, 28 Oct 2009 11:47:20 -0000

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... :)

Re: ING to Sell Online Bank ING Direct By 2013

Evan@MyJourneytoMillions — Wed, 28 Oct 2009 11:24:21 -0000

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?

Re: ING to Sell Online Bank ING Direct By 2013

BobBobBob — Wed, 28 Oct 2009 11:12:30 -0000

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.

Re: ING to Sell Online Bank ING Direct By 2013

Derek — Wed, 28 Oct 2009 10:26:22 -0000

"ING Group received a taxpayer bailout of €10 million ($14.9 billion) and the..."

Has the dollar fallen that much?

Re: ING to Sell Online Bank ING Direct By 2013

Ross — Wed, 28 Oct 2009 10:07:16 -0000

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.

Re: ING to Sell Online Bank ING Direct By 2013

Joshua — Wed, 28 Oct 2009 09:36:51 -0000

How sad...I really loved that bank.

Re: ING to Sell Online Bank ING Direct By 2013

Guest — Wed, 28 Oct 2009 09:29:37 -0000

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.