Ing Bank--Wooden Shoes Clattering down the Halls of American Net Banking
ING Direct's acquisition of NetBank.com Oct 12 '07 Pros None that are not also provided by competitors, e.g., Citibank, Bank of America, EverBank, etc. Cons Total disdain for their customers. Does not allow use of paper checks. Full Review ING Direct recently acquired many of the assets of NetBank.com, the latter having gone under due to their “subprime lending” practices. An ING Direct customer service (haha!) rep with whom I spoke today confirmed that, in the takeover process, ING cancelled all NetBank customers’ lines of credit WITH NO ADVANCE NOTICE.
(Yes, she explicitly confirmed the “no notice” part of the preceding sentence, saying that “notice was not required by law”... or, I inferred, simple “customer relations”.)
As a consequence, I’m sure that I’m not alone in having had several payments “bounced”, as well as incurring NSF fees at $30 a pop, plus charges from the merchants who didn’t receive payment. To me, whether notice is required or not, this constitutes outright fraud o…