MILESCFA

The Next Shoe to Drop in Banking: An Options Strategy

LAYOUT ERROR: I've notified "SA" of this problem but the right advertising column always overlays your column. This does NOT occur with anyone else I follow and I just go to your website to read the article, but today's article is not there.

Are Consumers Satisfied With Online Banking?

I've used online banking since it's emergence. The biggest problem I see is that almost all the US banks by the same "front-end" (ie, software, which use to be S-1's) and a couple of years ago when they did an update, I thought it stunk. Nonetheless, since everyone used the same software, I was forced to stick with Netbank... "luckily". :-)

Netbank went BUST and was taken over by ING direct (if you don't know, ING is a Dutch insurer/banker). ING direct does NOT use the same canned software as everyone else (least not the half dozen I've used or reviews). I'm not sure if it's their in-house or a European software house program, but when you want to write a check on-line, up pops a picture of a check. You just fill it in. Then up pops a picture of an envelope, you just fill it in. Their system is simple and it DOES NOT limit you to just 3 months of data (the most frustrating aspect of my other accts).

The only negative I know is the customer service is not wonderful. For example, online there is a feature to print out a "blank canceled check" when setting up linked accts. I have used it before but couldn't remember where it was. The customer service rep did not know about it and I had to wait for him to find someone who did.

Nonetheless I like the "front-end" of ING Direct and would recommend it (it's intuative, so it's easy, something I haven't seen elsewhere).