ING Direct Savings Account

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I've held an ING account for almost 10 years now, and I have paid money into my account from just one other account only. After saving for a large deposit, it came time to withdraw my money, only ING will not allow me to do so without sending a cheque to them first.

This is my money, and I want to transfer it to my account where all other payments for the last 10 years have gone from. People rarely use cheques these days, and having to deposit one to withdraw your own money is utterly stupid. The only other way is to close your account and receive a cheque.

After speaking with Customer Services, I did send a cheque - for a penny. I don't want to transfer more money, after all. However, when they still refused to link the account they claimed I had to make payment of at least one pound. Why they didnt tell me this in the first place I don't know.

Stay away from these clowns and save elsewhere.

I had my mother set up with INGDIRECT for 2 years to get interest on her money. She has Alzheimer’s and I have a power of attorney for her. Since I set up the account and had all the passwords this was not a problem until we needed to file for Medicaid and I made the mistake of transferring the last funds back to her Regions Bank account and chose YES when asked if I wanted to close account. DO NOT EVER DO THIS is you want to ever get your data again. ING locks out your account and you can no longer get your transaction history or statements. It has taken me 5 phone calls, 2 secure emails and a fax just to get a letter for my Medicaid package that said the account was closed with a zero balance. It’s taken 2 more phone calls and 2 more faxes to finally get them to send to my mother her statements (not me). They do not recognize a power of attorney. I have NEVER had this much difficulty with a financial institution to provide documents for which I am legally entitled.

BE CAREFUL the current low interest rates are not worth the fact that you have to deal with them by phone and their onerous policies. All their correspondence to me basically said TS.

Although ING offer a competitive rate at times, they have no idea of the principles of treating customers fairly. They have this pathetic rule whereby if you opened up a direct savings account last week/month and they now have a new offer on for the same type of account, you are not allowed to close the existing one and transfer it over to one paying a better rate. After account closure you have to wait 6 months before you can apply for another direct savings account. I am not aware of any other company that shafts customers in this way.

The ING savings account is one of the most cumbersome savings account site I have ever used (in 30 years of banking).

The security is hard to use: extremely hard to remember the details (you can't tailor it atall to things you remember more easily), to use the site (they have a wierd thing where you have to enter the numbers on a keypad) and extremely hard to reset (they drove me up the wall twice in my attempts to prove who I was who I said I was).

It's also difficult to transfer your money out: if you want to setup a new linked account you have to send in a £1 cheque to validate it first (which takes ages).

I have now transferred all my money out to somewhere where the interest is slight lower ... but at least I know I can actually get access to it when I need it.

This account should be re-named the "Difficult Access" account !

Very Bad Bank - poor service, very unhelpfull customer service. Bad complaint handling. Stay away from this

went through the online process, entered all the information including providing payment details to submit initial payment to open account and setup standing order. Neither of these happened, also the items they said they would mail me never arrived.

So I called them and they said for security I had to send them a cheque for security reasons (these reasons were never really clear to me) writing on the back my address and date of birth. So basically everything a fraudster would need to the empty my bank account.

The customer service people were great explaining this to me, but it's crazy they would ask for such a thing. Looks like a good account but the process to open it is difficult and honestly not worth the trouble for fractions of a percentage point interest.

I have recently had a fixed rate deposit mature which ING took over from one of the Icelandic banks part way through.

They have had almost 2 years to smooth any admin, yet despite being an existing ING customer they have dumped my money into a new account with a new customer number. The required information to allow me to access the new account arrived 1 week after maturity and although I can now see the money there is no withdrawl access to the funds without further paperwork and posting them bits. So by their actions they are effectively forcibly holding onto my money for what will end up being around 3 weeks at their lowest rate of interest (0.5%). I do hope they don't expect me to remain a customer now or in the future! Thank goodness I didn't need the funds urgently.

I opened my ING Direct Savings account on Monday, entered an initial deposit and by Friday the same week was able to login online to my account and see the deposited capital and verify the direct debit account was correctly established. I was able to simulate a transfer out to my linked account to verify that this was also complete. I see no reason to phone the help centre as it is all very intuitive online and simple. They offer good interest rates in my opinion my limiting the wastage of resources spent on manning call centres which seem superfluous considering the ease of their website and shouldnt be compared with high street banks when opening accounts as these offer very poor competitive rates due to their high staff ratio dependency.

Quite simply, you would be mad to have your money in any of Australia's major banks "savings accounts". The interest on the ING savings account beats most term deposits, but leaves you with 24 hour delayed access to your funds. The Internet banking is very intuitive in terms of being able to monitor your balance, and the interest you have earned. I also established a Bank West Telnet savings account at the same time, because it has a marginally higher rate of interest, although I would say the downside with this account is that the Internet banking is not quite as intuitive.