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Email this10:43 pm
Its been 5 months now since my fathers death and ING is still holding a large sum of money in the form of rsp's from my mom who is the sole beneficiary. I don't know what kind of games they are playing but was just wondering if anyone else has had any problems like this? I am not pleased with the emotional distress this is causing my mother. What can be done?
Any help from anyone would be greatly appreciated.
11:38 pm
why don't you start by telling us what steps you've taken to get the money?
9:36 am
The first step was to contact them and send them the necessary information (death certificate, a copy of the estate will and a letter of intent). All the information was sent via registered mail. They said they would call her when they received the information. With the tracking number she knew it had arrived 2 days later. 2 weeks went by and my mother called back to see if they had received the info. They said they didn't. At this point my mother sent away another copy of the same said information. Tracked it through Canada post and waited another week after they had signed for it. She then called again and they said they still did not receive the info. This made her very upset. Every time she called, ING gave her a date that they would contact her and always failed to do so. Finally after another 2 long weeks of playing phone tag with them, they finally received the documents.
Now the problem was the letter of intent. She stated that she wanted to roll them over into her name and start a rrif. This was something they had mentioned earlier, but now could not do so. They took a whole month pondering what to do with the rsp's. at one point they wanted to cash them out and have her pay taxes on the whole deal. She could not even access the rsp that was in her name. Finally they had this Michael Russ guy call her and do what big companies do, try to patch things up.
After many sleepless night and anxiety attacks ING agreed to transfer the rsp's to her bank. She waited for what they said was to happen. Its been over 5 months now and she still has not received the money. The last time she called them to see what the holdup was, they said it had been transferred already. This was another one of their many lies. The bank has received no such funds. Everything is in limbo.
Talk about a great stalling tactic.
9:57 am
i cant help but think this is something that should be done in person. ing has branches in most major canadian centers (head office in toronto). i know if it was my mother i would have taken a day off work and accompanied her to the nearest ing branch, presented the appropriate documents, and demanded satisfaction. testy customers tend to get what they want provided all their documents are in order. maybe you should consider showing up in person? good luck.
10:35 pm
October 5, 2009
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Unfortunately, dealing with ING is major bad news; and I realize that in this instance, this has nothing to do with anything you did wrong. You and your mother are just the victims of ING.
BTW, upon reading this, I fired off an email to ING expressing my contempt, and referring them to your comments on this website.
From inception, when considering an account with ING; after reading their endless sleazy multipage contract where they demand you absolve ING of all liability, should your $$$ go missing while in their care!! Like, it doesn't even matter if one of their employees takes off with all of your $$$, you have absolutely no recourse against ING. If your money disappears . . . tough sheet!!
Not a chance, I would ever place a plug nickel of my $$$ in the care of ING!! They have to be the very lowest bottom feeders of the industry!! :yell: ICICI Bank has to come in a close second!
12:40 am
crap stan, take a chill-pill! 😆 all the banks make you sign similar agreements. ing is no better or worse than the next bank in that regard.
assuming your email made it past ing's spam filters, let us know what happens...
2:33 am
October 5, 2009
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guest said:
crap stan, take a chill-pill! all the banks make you sign similar agreements. ing is no better or worse than the next bank in that regard.assuming your email made it past ing's spam filters, let us know what happens...
I deal with a number of banks and credit unions; and I've never ever had to sign any kind of "hold harmless" clause. The only other one to ever even request such was ICICI; and I wouldn't place a plug nickel for safe keeping with them either.
I can't imagine what kind of banks you've been dealing with, but other than these two foreign institutions, I've never run across anything like this before. And if they figure that placing funds in their institutions is that risky, then I'm not about to sign off on the risk, holding them harmless without recourse when my money disappears.
The only response from ING, was an automated reply.
9:54 am
every time you sign up for an online bank account, you sign a similar agreement. people usually don't read the stuff... they just click on the box that says "i agree to these terms and conditions" and click "next". you only find out about this if you try to sue the bank for something.
9:47 pm
I've just had to deal with three banks and one credit union when my father (A widower) died with no will. Not one of them gave my brother and myself this kind of grief. Everything was settled within a few weeks.
I'm already upset with ING over their "Bait and switch" TFSA so I guess this is just another reason to move my account.
10:18 pm
October 5, 2009
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guest said: every time you sign up for an online bank account, you sign a similar agreement. people usually don't read the stuff... they just click on the box that says "i agree to these terms and conditions" . . .
When you say you sign a similar agreement . . I definitely don't sign such agreements, nor have I ever signed such agreements!! I don't know what other people do, but;
First of all, I never sign up for anything online.
Second, I always thoroughly read and fully understand every contract that I sign. Like . . even when I buy travel insurance, I have them send me a copy of their policy for my scrutiny; and usually examine eight policies before making a decision.
I deal with TD, Maxa, Achieva, Outlook, and Peoples Trust. Not one of them have ever presented me with any kind of contract to sign, let alone an eight page contract, such as demanded my ING and ICICI, virtually signing all of my rights away, no matter what happens.
Your only legitimate Defense against such contracts, would be to plead insanity: res ipsa loquiter!
11:50 pm
hey stan... how's the canadian bank stock investing going... i hear one can make over 1000% profit on canadian bank stocks in 10 years...
the thing speaks for itself indeed...:lol::lol::lol:
3:53 pm
Hi Rick, Stan, Rob, and everyone who has participated in this discussion,
We appreciate you taking the time to share your comments. We've received your email and have taken the time to look into the case.
Rick, while we cannot discuss the details of each case in public forum, rest assured we're actively looking into your mother's case. If you would like any additional information on where the case is at, I'd be happy to have the associate give you a call. Things get a bit trickier when dealing with estates so we thank you and your mother for your patience and consideration during this time.
Stan and Rob, we're sorry to hear that you haven't had the best client experience that we're proud to provide at ING DIRECT Canada. If you'd like to further discuss, please let us know if there is anything that we can help clarify.
ING DIRECT Canada
clientservices@ingdirect.ca
11:06 pm
SuperStarSaver / ING said:
If you'd like to further discuss, please let us know....
ING DIRECT Canada
clientservices@ingdirect.ca
yeah, remind aceto he's going to have a lot less capital to deploy during next years' tfsa blitz 'cause people on boards like this are finally onto his bait and switch tactic...
9:40 am
I am waiting to hear from the "associate" as they say. Not sure if its going to be the same run-around but not counting on too much help. All i know is that i am not putting any money in this kind of heartless organization. Its bad enough to lose your lifelong partner and then get kicked when you're down. The ironic thing is that my mom is dutch and she is ashamed to hear a dutch company doing this to people all in the name of money. Without people to invest in them they would not exist.
I will keep everyone posted on the events that follow.
7:50 pm
Hey Bro...Next thing to do would be to get an organization like "W-5" involved and see what happens.
Well I was thinking about a TFSA but, definitely not with with them.
9:53 pm
W5 was my next option. I will give them one last chance at getting this resolved.
Still no call from the associate. Not a big surprise.
10:03 pm
November 8, 2009
Offline
you can try this Global tv show too. They are always looking for injustice done to the little guy by a massive institution.
http://www.globalnational.com/.....about.html
11:14 pm
Thank you kilarney, i just sent them an e-mail.
ING has now once again changed the person that corresponds with my mom. His name is Alexander Weir. I don't know if this forum has started some kind of damage control over at ING but it seems very strange that they would now assign the case to another so called big shot. Sounds like another way to stall. I just love how they try to intimidate my mother with their big shot status.
The other day my mom left a not so pleasant message with them only to be asked to apologize! Can you believe their nerve. They want my mom to apologize! They are holding money that my father saved his whole life and probably put himself in an early grave for which now rightfully belongs to his wife of over 40 years! Shame on them.
11:56 am
the media might very well be interested in this if it turns out that this is not an isolated incident. estate claims on rrsp funds by a spouse can get tricky at times if there are issues at play such as marital breakdown, claims by ex-wives, etc... i'm not saying that's the case here, and i'm not trying to excuse ing, but in fairness ing can get themselves in trouble if they hand over the money without doing some due diligence first. how long it should reasonably take to do that due diligence is a fair question, although it seems to me that 5 months should be more than enough.
11:14 pm
SuperStarSaver / ING said:
Rick, while we cannot discuss the details of each case in public forum, rest assured we're actively looking into your mother's case. If you would like any additional information on where the case is at, I'd be happy to have the associate give you a call. Things get a bit trickier when dealing with estates so we thank you and your mother for your patience and consideration during this time.
ING DIRECT Canada
clientservices@ingdirect.ca
Still no reply to my email. This ING message seems to be a "save face" public forum message. Our patience is running very thin.
Please write your comments in the forum.