Had my 401K account with them for a while. As I have always used their website, there wasn't any issues. I mean they probably charge you hidden fees just like any other 401K providers, and the choices of instrument was average but I didn't much to complain about.
However the trouble came when I try to roll my money over to a rollover IRA account. Here is a list:
1. It's impossible to get to a live person on the phone. If you enter your account and password, there is no option to talk to a live person. And if you figure out to talk to a live person w/o entering your account information, the person would redirect you to enter your account info (and re-assure you they will stay on the line with you) then the live person is gone after you enter your account #. I've tried this a few times....
2. It seems like they are blocking my phone now, whenever I try to connect to a live person, it asks me to fill out a survey. Then everything goes silent from there.
3. If I can't move my 401K money out from them, what's the point, is this a ponzi scheme or something?
4. As I keep trying, I somehow got to a person deals w/ customer experience. And he asked me questions like "did you enter your account #, and password?" in a very demeaning way as if I am trying to break into an account or how to use their phone system at all (I have a master degree in engineering for the sake of it ...)
5. After spending 2 hours getting all the details done, the person told me he has to get off work and redirected me to the next person. However, the next person had no clue what happened & I had to re-do everything again.
*In case you have to call them. Enter your account info first & make sure SSN is used, then pressed 0 (note they never mention that option but it's there) to get to customer service.
I have been with ING for 3 years and last year i moved all my banking to them. It's amazing that I don't pay any fees and I love using pay wave as you actually get some money back from ING for using it. Last week I was traveling in Cambodia and an ATM malfunctioned and didn't dispense over $400. I called up the customer service line, the woman was reassuring and very professional and they didn't transfer my call once. I got the money back 2 days after the phone call. Very impressed. Also they only charge $2.50 for international withdrawals, not a percentage like other banks!
ING Direct was a dream. Until Capitol one took over, there internal policies leave no margin for error. They really do suck. They closed one of my accounts because I went over my limit of withdrawals for the month. Which is 6 for a savings account. No warning just closed the account and created a direct debit nightmare for me. Then they closed my checking out, I couldn't use my overdraft line of credit so they kept bouncing back payments. Needless to say I have zero out all my accounts 6 to be exact. Closed out the mutual fund I had open with them. Nowing they had sharebuilder too, I cashed it out and put it in my existing merril lynch account.
The Morons lost $260,000 in investments for there wonderful policies.