I had emailed ING Direct about the interest rates being offered by EmigrantDirect and after a few communications where I was told that they don't increase rates based on one competitor, I received the following message, after I indicated that I would close my account:
"While high interest rates may be the deciding factor for some, it obviously isn't the deciding factor for everyone as proven by our 2+ million Customers.
The easiest way to close your account is by calling us at 1-888-464-0727. If you prefer to make this request in writing, you can fax a letter to 1-888-464- 3220 Attn: Customer Satisfaction or you can mail a letter to:
If he was trying to impress me with the 2+ million figure, I should remind him that there are millions of people in this country who are banking customers who are with other banks earning higher interest. They appear to not care about losing my business.
The extra 0.25% interest goes to Staples (which is sponsoring the finance board) and not to you
Greg62
Senior Member
posted: Feb. 25, 2005 @ 12:41a
I wonder how many of their 2 million accounts, have $1 or less in them. raffy said: I had emailed ING Direct about the interest rates being offered by EmigrantDirect and after a few communications where I was told that they don't increase rates based on one competitor, I received the following message, after I indicated that I would close my account:
"While high interest rates may be the deciding factor for some, it obviously isn't the deciding factor for everyone as proven by our 2+ million Customers.
The easiest way to close your account is by calling us at 1-888-464-0727. If you prefer to make this request in writing, you can fax a letter to 1-888-464- 3220 Attn: Customer Satisfaction or you can mail a letter to:
If he was trying to impress me with the 2+ million figure, I should remind him that there are millions of people in this country who are banking customers who are with other banks earning higher interest. They appear to not care about losing my business.
pinkpig
Senior Member
posted: Feb. 25, 2005 @ 12:44a
ING is rude,at least,not nice! raffy said: I had emailed ING Direct about the interest rates being offered by EmigrantDirect and after a few communications where I was told that they don't increase rates based on one competitor, I received the following message, after I indicated that I would close my account:
"While high interest rates may be the deciding factor for some, it obviously isn't the deciding factor for everyone as proven by our 2+ million Customers.
The easiest way to close your account is by calling us at 1-888-464-0727. If you prefer to make this request in writing, you can fax a letter to 1-888-464- 3220 Attn: Customer Satisfaction or you can mail a letter to:
If he was trying to impress me with the 2+ million figure, I should remind him that there are millions of people in this country who are banking customers who are with other banks earning higher interest. They appear to not care about losing my business.
raffy said: I had emailed ING Direct about the interest rates being offered by EmigrantDirect and after a few communications where I was told that they don't increase rates based on one competitor, I received the following message, after I indicated that I would close my account:
"While high interest rates may be the deciding factor for some, it obviously isn't the deciding factor for everyone as proven by our 2+ million Customers.
The easiest way to close your account is by calling us at 1-888-464-0727. If you prefer to make this request in writing, you can fax a letter to 1-888-464- 3220 Attn: Customer Satisfaction or you can mail a letter to:
If he was trying to impress me with the 2+ million figure, I should remind him that there are millions of people in this country who are banking customers who are with other banks earning higher interest. They appear to not care about losing my business.
Gosh, that was kind of a snotty response for a company that is no longer the highest interest bearing account (or even the second highest). No "We regret to lose your business" or any of the typical parting language.
I feel a little bit better with my decision to move to ED. Their customer service is horrendous, but at least their rate shows they want my business, if nothing else.
I love how ING updates your intrest earned daily, But since I already moved my money to ED, it to late for ING. Even moving to 3.01% wouldn't be enough for me for ING, more like 3.1 now maybe it me being a bit greedy and over mircomanagement. but the difference from 3% to 2.60% is a good 15% difference. Sure we talking about pennies here but it still 15%
They are definitely aware of the Emigrant offer which has been highly advertised on yahoo. The sharp online money will always go to the best deal out there. ING will move to 3% after the next fed move or so. ING does have a very good site and things are a little smoother than emigrant which is a new player...The next level will be 3.25%
SoBeyondTheNorm
Greedy Member
posted: Feb. 25, 2005 @ 7:59a
76hhma said: tooshy said: That's convinced me to stay with ING....I'm too lazy.
Same here. Thanks OP.
Good news, it's about time. Yeah, I could get 3% elesewhere, but ING has been good, no problems at all. From the sound of it Emigrant is more trouble than it's worth. I think ING will steadily climb.
Bycracky
Senior Member
posted: Feb. 25, 2005 @ 8:05a
Its about time ING was higher than Nexity...
joking168
Tired Member
posted: Feb. 25, 2005 @ 8:32a
In regards to the ING response being rude, i remember reading an article saying that ING actually closes people's accounts if they call customer service too many times because they don't want people who are going to consume alot of their resources. that way, they can keep costs down. pretty round-about way of justifying being rude if you ask me.
isevenl
Ancient Member
posted: Feb. 25, 2005 @ 8:59a
Didnt know I would also receive a math lesson today, thanks to all those people who are revealing that 3.0 is indeed higher than 2.60! Im gonna go spread the word!
ED's been advertising their rate in the WSJ. They want to increase deposits for a reason. It's privately held by the Milstein family and they want to start a hedge fund/wealth management with a minimum account deposit of $50 mil. In order to attract this type of super affluent client, they need to have a stronger deposit base. They're essentially buying deposits for 3% hoping to make much more from the future larger accounts.----z
KrayzyAzn
Senior Member
posted: Feb. 25, 2005 @ 9:53a
woot.. i just noticed the increase!
dealdezi
Happy Member
posted: Feb. 25, 2005 @ 9:56a
Nice way to start a day! Hope the feds keep increasing the rate and ING follows suit.
ING had the audacity to repeatedly run a new ad this month on Bloomberg radio stating that they have "THE HIGHEST RATE" in the country. Every time I heard the ad I got mad because I just moved my money from Ing to ED. Lo and behold, just last week they changed the ad, it no longer claims they have the highest rate (I wonder if they got a lot of complaints over false advertising?)
I like the ING site a lot, but the bottom line is the bottom line. I don't really get the people that aren't lazy enough to look for deals on fatwallet, but are too lazy to sign up for a better equivalent investment on their cash? If Ing or anyone else beats ED on insured money market rates I will jump over to them.
Skipping 102 Messages...
SoBeyondTheNorm
Greedy Member
posted: Mar. 22, 2005 @ 1:06p
Segfault said: It's 2.80% now. I already switched to Emigrant Direct, which is 3.25%.
I think ING will continue to feel the pressure from customers along rising interest rates. I left some play money in my account there for now.
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