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Difficulty Getting Investment Funds Released at ING

I have had a 403B account with ING for the past 8 years. I completed the paperwork on March 1st and faxed it to the company for release of my funds. On the 9th, I called and found that the paperwork had been left on the fax and never processed. I was then told that, after review, I needed another form. I completed it and faxed it back within hours. Well, it's the 18th and still no money.

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I have, in the meantime, liquidated and received funds from my AG Edwards account. If I ever receive my ING funds, I will never open another account with them. Does anyone know who I can contact for assistance? The "supervisors" I've talked to were less than helpful.

By Cecilia from Shreveport, LA

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March 19, 20100 found this helpful

Get a lawyer, fast, good luck.

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March 20, 20100 found this helpful

Unfortunately, this kind of stuff happens all the time, in fact I saw a show on TV recently about how Insurance companies will leave your paperwork sit on their desk for weeks (as a stalling tactic) instead of outright denying your claim. In the meantime you could be dying from lack of approved care. From what I've heard, this is all too common!

Also, I heard Art Bell (the radio host) talk about a similar thing that happened when he tried to get his new Philippine wife into the USA for a visit & he ran across the very same thing. "You need another form" then "You sent in the wrong form". Then, "Now it's too late, your request is denied". His saving grade, was that he made photocopies & sent everything via registered mail. I believe that registered-mail (that someone has to sign for) though old-fashioned is the only way to go! Good thing he was a celebrity, or he would have gotten the run-around for another 2 years (at least!) I wish I could help you more!

Get a lawyer with that lives in that city & give them Power of Attorney to sign for you, & have them march down to the headquarters & hopefully get your money before it is all gone. Hopefully the Lawyer won't cost you more that it's worth!

---> Otherwise, send all your paperwork via Overnight Registered Mail to one person directly & have that person sign for it. This way you will have proof of what you sent. Trust no one!

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March 20, 20100 found this helpful

For future reference (for you, or anyone else reading this), we've been with WT Direct for three years, and their service is fantastic.

I do agree with the posts above...you may end up needing a lawyer. You have the right to get your own money. We had a similar problem with Chase, and had to keep going to their offices and complaining until someone finally closed our money market account and gave us our money.

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March 21, 20100 found this helpful

I have an account with ING Direct and haven't had any trouble with them but this is a savings account. But - beware of Washington Mutual who tried to foreclose on my mother's property. Also now I am trying to get a loan modification from Chase and they are dragging their feet bigtime. This is just for your information so you can beware.

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March 22, 20100 found this helpful

Thank you for this info. about ING. I have always liked them, but this is disturbing. They are Dutch owned.

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