Nice... but still not enough

ING has got to do better than that to bring customers back. 3.01% APY would be a good start

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:

P.O. Box 60
St. Cloud, MN 56302-0060

Thanks for your interest in ING Direct"

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%

Its about time ING was higher than Nexity...

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!

wooohooo, 2.6%

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

Nice way to start a day! Hope the feds keep increasing the rate and ING follows suit.