Sunday, October 02, 2005

You're fired!

I was reading this story on CNN about how great online banks are, when I came across this excerpt.

And if you're looking to have your hand held, online accounts are not for you. ING Direct, for instance, closes an average of 3 percent to 4 percent of accounts a month, when customers require too much personal service.

"We fire our customers is a colorful way of putting it," said ING Direct's Kuhlmann. "While the banking business says the customer is always right, we're online guys and you can only do business with us in a certain way."

He added that it just isn't cost effective to maintain high maintenance customers that need more personalized attention.

Whoa, never heard of that before. I'm not surprised or outraged - I mean, you can't kill the goose that lays the golden egg, but that's still radical, and the number is much higher than I would have imagined!

1 comment:

Financial Baby Steps said...

Yes, that statement surprised me too. I7ve never had a problem with ING and they are so much easier to use than other online banks, I can't imagine anyone being that demanding...