Out of all the recent mergers, the one that’s been panned the most by consumers was the absorbtion of ING Direct into Capital One. ING customers love the bank–something very rare in the banking industry! ING’s model was to keep their processes simple, avoid mice-type and unnecessary fees, and as a result they receive relatively few complaints.
But Capital One’s purchase was approved, and ING Direct will soon be no more. So what should existing customers do? Should they head for the exit?
Clark’s answer is: Hang tight for the time being. Wait and see how Capital One handles the business. If they end up messing up the business model, that would be a good time to take your business to a credit union.
Credit unions continue to receive the highest rankings of any business, in the entire history of the customer satisfaction index. Its ratings are unlike any other business. So why stay with a mega-banks. who typically have such atrocious customer service ratings?