3 replies to this topic

[ABOUTBENS]

Any ideas how the readers with ING accounts could join together to pressure ING to raise their rates? Maybe an advanced email saying on such and such date we are going to transfer all of our money out of ING if the rates don't go up, and then do it if the rates haven't gone up by then. I don't know, but there can be power in numbers.

[junkhuolin]

I remember somebody posted a ING link for feedback, but I cannot find it now.

Any ideas how the readers with ING accounts could join together to pressure ING to raise their rates?  Maybe an advanced email saying on such and such date we are going to transfer all of our money out of ING if the rates don't go up, and then do it if the rates haven't gone up by then.  I don't know, but there can be power in numbers.        

[markber]

Any ideas how the readers with ING accounts could join together to pressure ING to raise their rates?  Maybe an advanced email saying on such and such date we are going to transfer all of our money out of ING if the rates don't go up, and then do it if the rates haven't gone up by then.  I don't know, but there can be power in numbers.        

Great idea! It can be fun and will become a part of US banking history if this story gets into media. You may consider following these steps:


(1) Create polls on major financial boards (see the bottom of iBankDesign homepage) about the rate of savings account customers should ask ING Direct about.
(2) Ask board members to reply to the poll posts if they agree to join the mass withdrawal customer action.
(3) Create the second set of polls to ask when the mass withdrawal should occur. Probably some people will need time to open high-yield savings accounts in other banks to move money from ING Direct to. Post links to these polls in the posts/polls where you announce the customer action.

In 1 - 3 weeks,
(4) If enough (?) members joined your movement, you inform ING Direct CEO and national media (e.g. CNN) about the mass withdrawal and the date of customer action.
(5) Inform board members about the final date of mass withdrawal.
(6) If ING Direct does not increase rates by the deadline, announce the start of mass withdrawal. Ask board members to post withdrawn amount in a reply to the original post about the action.
(7) Inform national media about results of the customer action.

I can help you with putting info about the customer action on iBankDesign homepage and, may be, placing AdWords banners about the mass withdrawal on Google. But you would have to do most of the work to inform finance online communities, ING Direct, CNN, etc, about your movement and keep it alive. After all, it is your idea!

Cheers,

Mark

[scottjm]

My Corus account just joined the 4% club with 4.01%, ING will have to move soon or I am in on telling them I will close