I fell in love with ING Direct about three or fours years ago. After seeing their commercials and reading up on them, I decided to try out their ISA (Investment Savings Account). I signed up and then called their customer service line with a few questions. The person I spoke with was so great that I asked to speak with his manager so that I could tell him how impressed I was.
Today, while reading some financial blogs, I saw an interview with a blogger and the CEO of ING Direct Canada. The video itself was informative but nothing too impressive (everyone wants to know if their next move is to release a no-fee chequing account…). However, the youtube info contained the CEO’s Twitter account info so I decided to follow him.
Here’s why I love ING Direct:
GREAT LEADERSHIP.
GREAT IDEAS.
Here’s why I have a TON of respect for that CEO: he knows the value of customer service and support. It is what has made ING Direct, in my opinion, one of the best companies in the world.
Here are some of the CEO’s Tweets:
“Celebration for our call center team tonite. The best at what they do. The people that make ING DIRECT spectacular.”
“RT @Layer7Security: Automation is key to employee happiness. Nobody wants to do the same complex, error prone, and repetitive tasks…”
“Fight to get the culture you need to support your brand vision. Be prepared to die to defend that culture”
“Your brand is what your customers say it is. They judge you based upon their interactions with you, your people and your products. ”
“On mutual fund calls with call center agents. Listening to our customers and how we serve them. ”
“Writing handwritten notes to employees who received customer compliments. great job guys! ”
“Visited the marketing team in their new space. Bravo team. Simple, different, innovative place to work. That’s what we are going for.”
“Having discussion with execs on implimenting many flex work future best practices. Need to stay ahead to attract and keep the best. ”
They do have some tough competition in the Canadian market, however. Their Savings Accounts aren’t as impressive as they used to be (though they’re still no-fee so that is better than a lot of what is being offered by the more traditional banks). They do offer the Streetwise Fund, but the last time I checked, their MER was at 1% which is still way too high for a passively managed fund (I’d rather get an MER of 0.30% or less, if possible). I think their next best move is exactly what everyone is asking from them: a no-fee chequing account. I’d sign up for that in a heartbeat and ditch my current bank.
Despite these tiny issues, they continue to be the most customer-friendly bank in Canada. Their website is very straightforward and super easy to use. Their ads are to the point and creative. Their products are a great alternative to what the other banks are offering. Sure, the Streetwise Funds have a higher MER, but they are easier to understand and made for the person who gets dizzy trying to understand info about investing on other bank websites. I would say that if you’re not comfortable managing your own portfolio and just want something easy and simple to invest with, the Streetwise Fund is worth checking out.
Their most recent product is the Children’s Savings Account: www.ingdirect.ca/csa and in combination with that, they launched Planet Orange, a site for kids to learn about how to manage money: http://www.planetorange.ca/
Well done.
There’s so much more to say about this company and I am planning on buying shares very soon.
Oh! And I am so buying this book over the holidays:
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6 Comments
Thank you for your comments about ING DIRECT. You clearly get what we are doing and will continue to do. Thank you for passing the word along to your lucky readers. Keep doing your great work. Canadians need to people like you – people they trust – to help them know who is good and who is bad and who is telling the truth. Peter Aceto President & CEO ING DIRECT Canada.
When I called ING Direct to get help with transferring my mortgage, I was
shocked and unprepared for what happened: when the call was immediately picked up by a live operator, who waited patiently while I got my papers in order. She fixed my website problem, and then… offered to walk me through the process while I did it online. When all was said and done, I had a competitive mortgage, and the actual phone number of the person who would handle the next step of my mortgage transfer. When I called him later on to work out some details, he picked up immediately. During the few days that I spent dealing with ING’s mortgage people, I called them several times and never once heard an automated voice…
If large corporations only knew how much business they lose from me when I decide to give up rather than keep navigating the voice mail hell they set up to deflect customers.
I would instantly drop my current bank/trus company/whatever they are called If I could: 1) write cheques on an ING account and 2) get a bank card from ING and 3) transfer my current car loan to ING and 4) replace my credit card with something connected to ING.
I’m very proud of your work. I’ve been with Scotia Bank for 38 years and after reading your article, I’ll be checking in ING.
Can’t trust ING DIRECT — could be sold any minute
I love that kids website!
I know, I know, I’m in grade 10 and not in grade 6 anymore, but it’s still a cool site! my math teacher was doing her taxes with us (with made up numbers of course) it was… interesting… (actually, it was quite dull.)
Emily, if you ever decide that you want to learn more about finances, let me know. I can recommend some books – they’re meant for adults but if you think you can handle it, I’d say go for it! The more you know now, the better you’ll be preparing yourself for your own future.
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