INGDirect - Why have they ruined themselves?

tomstickland

Just keep moving the money to the best payers.
I've got a 10% reg saver with A&L
Lloyds TSB 8% monthly saver
Icici Hi Save 5.45%

I've had no problems with HiSave.

Loyalty means nothing. They don't sit in their office going "ohh what a nice customer". They just want market share and know a high headline rate will get it. After that inertia will retain most of the customers whilst the MSE types can move to where the party is at.

meanmachine_2

Bisoy wrote:

I have received an email from ING today that they are increasing their rate to 5%- AHA! at last -BUT NOT GOOD ENOUGH.

No. Read it again. S-l-o-w-l-y, this time.

Bisoy

Apologies I've got carried away. Thanks meanmachine. It reads BOE increase their rate from 4.75% to 5% not ING.

My mistake I don't want to mislead other moneysavers.

roger56

kenshaz wrote:

Another thread on the same topic,whilst I agree the original post needs help .I am finding the same theme a little boring .

I think this thread needs merging with the ING cheating customer thread...same topic

KTF

Anyone else seen this:

"ING Direct has turned its back on its 'no hidden catches' policy by launching two savings accounts that do not allow you to access your money without penalty.

The new ING Direct fixed-rate account pays 5.3%, and the web saver pays 5.25% - neither of which is a great rate for these types of accounts. Both make it a condition that savers will have to tie up their money."

http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=415126&in_page_id=7

cwcw

Sent to info@ingdirect.co.uk -

To whom it may concern,

Thank you so much for your recent announcement that you will not be increasing your savings interest rate following the recent increase to the Bank of England Base Rate - I am so relieved you didn't, or else I may have become ever so "confused". However, you must understand my previous state of bamboozle when, during base rate cuts in the past, your savings rate was also reduced within a matter of days. I understand that you probably had a good reason for this - perhaps you wanted to spare your customers from vertigo and thought it necessary to cut rates with immediate haste? Thank goodness that you keep things "simple" for us poor and confused customers who simply cannot get our brains around the complexity of savings rates increasing in line with base rates, or the pure minefield of confusion that is the "best buy" tables.

As a result of your strategy to avoid customers from being confused, you have allowed me to think altogether more clearly. As a loyal customer of over 3 years, you will be pleased to hear that you will no longer need to worry about confusing me; when I move all of my money out of my ING Direct account in the New Year. My clear thinking, which has been enabled by your simple and easy to understand one-way rate changes, has allowed me to study the market and see that you now lag behind your competitors by quite a margin - IceSave are looking a good bet for my hard earned cash.

Once again, thank you for allowing me to think so clearly. I hope a sufficient number of your customers can also benefit from the confusion-busting tactics you employ through one-way rate changes - that way, the person in charge of such a customer "friendly" strategy can get his/her just reward. I am just about to pass on my new found, unconfused wisdom to my mother, who has tens of thousands in one of your accounts (not for much longer...).

Kind regards,

******* *********
An unconfused customer.

justmarried06

:rotfl:

Love it!!!!

Am off to check out the other savings accounts out there...........bah humbug to ING!

JM

PJD

:rotfl: Nice work cwcw :rotfl:

thor

I really hope that a significant amount of money has been withdrawn from Ings's coffers by now. Usually with the british public being as gullible as they are I would have thought that inertia would have meant that ING's strategy might have worked but I believe that most of the savers with them are probably more clued up and only went with ING in the first place because they were the saving leaders for 18 months or so. Would it not be funny if iNG found that they were losing too much business and are forced into raising their rates before a boe rate rise. The total opposite of what they have been doing since 2005.

System

I have left abou £1.00 in there, although to be fair, most of money was on the way out months ago.