Letter to ING Direct from a NetBank Customer

Dear ING Direct,

You recently took over my personal and corporate banking business when you acquired the assets of failed NetBank.

Thank you! I experienced no interruption in the use of my various accounts and cards. You (or was it the FDIC?) provided an invaluable service.

I Can Keep my Accounts Indefinitely

I called you the same day this happened and you said I could keep my checking accounts indefinitely. This despite the fact that I didn’t qualify for your checking product, Electric Orange (because the credit bureau you use has no record for me). This really put my mind at ease!

Unfortunately, you immediately ceased receiving foreign wire transfers. I do business internationally so that is a problem. You’re part of ING Bank, a huge international financial institution based in Europe, so I didn’t expect that.

You also stopped accepting some checks for deposit and turned off the ability to use OFX. I didn’t mind but others with large deposits were upset.

Cards Going Dark on Nov 23?!

You promised to send out a welcome package via regular mail. While waiting, I researched you online. I discovered your random account closures and other questionable treatment of customers. But you assured me you would not close an account due to imperfect credit, so I kept waiting.

I was expecting logins, ATM cards and debit cards. Instead, you sent me another sales email, but this time with a footnote that all my ATM and debit cards would go dark on November 23rd!

I like that you gave notice, unlike when you closed my money market account. I didn’t realize it was gone until I tried to make a deposit.

You Don’t Want my Checking Business?

Alright, I thought, you just want me to apply for new accounts. No problem. But you denied me for Electric Orange again. On the phone you told me you didn’t want my checking account business at all. I “have to find a local bank for that”, you said. I was so dizzy from your flip-flop that your slight passed unnoticed.

I contacted my “local” banks, including Bank of America, EverBank and Emigrant Direct. They all want my business! So don’t worry ING Direct. My mid-five-figure deposits will be out of your hair right away. I promise never to burden you with them again.

You Paid a Premium to Send me to the Competition

Thanks again for buying NetBank’s $1.5 billion in deposits. I will always remember you as the bank that pays a premium for the privilege of sending good customers and their deposits to the competition.


George Donnelly
Former NetBank depositor

P.S. You really ought to put “BETA” next to the logo on your website until you figure out what you’re doing.

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By George Donnelly

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5 replies on “Letter to ING Direct from a NetBank Customer”

Thanks George! Somehow it feels better to know I am not alone. I have spent a few hours today dealing with the Netbank – to ING DIRECT transfer mess. So far I’ve gotten a smallish pile only in fees due to their failure to honor some pretty basic promises they make. Started having problems already, even back in November, before the actual transfer.

Just wrote the Ombudsman with a list of fees I’d like reimbursed:

The Ombudsman
ING Direct
1 S. Orange St. Wilmington, DE 19801

Basically customer service just decided to blame me for any of my own problems with returned checks! So again, just nice to know that when they try to tell me I am the idiot, seems they are a bit full of it.

You’ll see, at my website, that ING managed to prevent me from having access to MY MONEY for over a month, despite the fact that I followed their written instructions and verbal guidance.

I have also had an endless number of horrendous recent experiences as to the NetBank closure, from this tricky, foreign outfit known as ING, or whatever it is. The guy who runs this thing may live in Holland, or who knows who or where he is. I cannot understand how this man is allowed to do business in the United States.

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