Wednesday, September 28, 2011

Glitch: ING Direct

Apparently my experience with ING the other day was a "glitch in the system... Here's the email exchange:
Good morning,
I noticed that transfers between my checking account and savings accounts aren't instant anymore and that I need to wait for the next day to have the money moved from my electric orange checking account to my orange savings account. This used to happen instantly and I'd initiate my transfer and the money would be moved... It was a nice feature because once I clicked the "ok" button, I got to see the reward of my savings account grow and I got a good understanding of what was left in my checking account for spending and bill pay purposes...
And now that's not the case. I understand that you are under new ownership and have been bought by Capital One, but I have to ask, Why the change?
One of my favorite features of your on-line banking program was that everything was instant. It made it easy for me to balance my budget every month since I never had to wait for amounts to finish pending to pay bills or to feel good about putting money into savings.
I've been banking here for over 5 years now I have a checking account, 9 savings accounts, and a Roth IRA and a share builder account. Needless to say I consider ING Direct my primary account for savings and bill pay and for investments and I'm not happy with this change. I would really hate to take my business elsewhere since it would be a hassle on my end since I have so many accounts with you, but if you continue to change the things I love about banking with you, then I will have to.
ING's Response:
Hi Saver,
Need to move money? No problem. Transferring money to and from your Orange Savings Account and Electric Orange is quick and free-of-charge (and who doesn't like that?). Just follow one of these steps:
-Sign in to and click the 'Transfers & Deposits' tab. You can do this 24 hours a day, 7 days a week.
-Call our Interactive Phone Service at 1-888-464-7868, which is also available 24 hours a day, 7 days a week.
There's no limit on the amount of transfers (or "deposits") to the Orange Savings Account; however, the Government makes us limit your transfers (or "withdrawals") from the Orange Savings Account to 6 or less per month. These rules don't apply to checking accounts, so transfers to and from Electric Orange are unlimited. Transfers to your linked external checking account are usually completed within 2 business days.

My Response (after I filled out a survey indicating how unhelpful I found their reply):
Thank you for your response Erik... but it failed to answer my question. I already know how to transfer my money from account to account.
I was inquiring as to why you changed your policy.
Before when I transferred my money from my Orange Checking to my Orange Savings, it happened instantaneously and I received my confirmation email within minutes. The screen showed the transfer and the money was moved and wasn't "pending."
Now when I transfer money, I have to wait till the next day to have it moved from my ING Checking to my ING Savings...
I would like to know why this change has taken place.
ING's Response:
When making an internal transfer through ING DIRECT, the funds are available instantly. We only place funds on hold when a Customer transfer funds from their external linked checking accounts. If you have any further questions, just let us know.
Me again:
Good morning Michelle,
Unfortunately that wasn't the case when I initiated a transfer the other day. I had to wait one business day for all 5 transactions from my Orange checking account to 5 different savings accounts at ING.
Was that a fluke or apart of some website update that was going on?

ING's Response:

There may have been an error as internal transfers post immediately.

Anyone else have issues????  


  1. Howdy! I have noticed that your Rss feed of this site is functioning correctly, did you somehow complete all the options by yourself or you just turned to the initial settings of this widget?

    1. I just plugged in the widget and didn't do anything else to it. I'm glad to know that it works!