Removing weight from your car (by cleaning out the trunk, getting a smaller car or losing weight) saves gas. So Lose Weight, Save Gas
Archive for October, 2007
Quick Money Saving Tip: Lose Weight, Save Gas
Wednesday, October 31st, 2007No ATM Card? Email from ING regarding Netbank ATM Card
Tuesday, October 30th, 2007I had a Netbank account when Netbank went under and was aquired by ING Direct. I got an email today asking me to sign up for an ING savings account (I already have one that I opened a couple years ago to get the $25 bonus) and in the email was this statement:
At the bottom of this email is a notice containing some very important information about changes that will be taking place to the accounts we obtained. Please take a moment to read this notice, as it affects how you use your account.
So, at the very bottom of the email, was this:
IMPORTANT CHANGES TO NETBANK MONEY MARKET, NET VALUE INTEREST CHECKING, and SUPER VALUE INTEREST CHECKING ACCOUNTS
Effective 11/23/2007 (”Effective Date”) we will no longer process ATM transfers (including withdrawals) and point of sale transactions (including online and cash-back transactions) that you initiate using an ATM or debit card that accesses a NetBank Money Market, Net Value Interest Checking, or Super Value Interest Checking Account that was acquired by ING DIRECT on September 28, 2007. This means that on or after the Effective Date your NetBank ATM and/or NetBank VISA® Check card(s) won’t work.
If you have any questions, please give us a call at 1-866-327-4599. For your convenience, we’re available from 8 AM – 8 PM, 7 days a week.
This is the kind of notice that should come AFTER a notice saying a new ING Direct ATM card was on it’s way. So far, I have nothing from them about any new ATM card. I am quite busy this week, but if I don’t have either a new card or a notice that one is on its way by Monday, I’m going to give them a call.
edit: followup here.
Comment Spam
Saturday, October 27th, 2007This must be a real blog now, I’m getting comment spam. Some comments are now held for moderation, so if a comment doesn’t show up immediately, it should relatively soon.
Netbank fallout for one business
Thursday, October 4th, 2007Quite the sensationalist headline, since the answer was already “no” by the time the article was written. Quick summary: they had a million in deposits, of which $100k is FDIC insured. But Netbank wasn’t a total loss, so the FDIC has already handed over 50% of the amount over 100k. But the headline “firm stands to lose somewhat less than half their cash” doesn’t sound that impressive. And 900K sounds better than 450k. Also I’m sure the editor rejected the first title “idiot stands to pay $450k stupid tax”.
Applied Cognetics, a software development and online marketing firm based in Brooklyn, N.Y., has about $1 million in deposits in NetBank, an online bank with $2.5 billion in assets that regulators closed Friday because of an unsustainable level of mortgage defaults.
Although the FDIC insures bank deposits of up to $100,000, Applied Cognetics president Chris Colthrust and his four business partners aren’t sure what will happen to the remainder of their account.
“Every penny I saved for the last 10 years was in this,” said Colthrust, 39. “Basically all of our operating funds and accounts were in that bank. Everything we’ve worked for the last 2 years [could be] up in smoke.”
I guess I’m big on personal responsibility. And I’d be more sympathetic if I hadn’t heard bad things about Netbank’s stability recently. I don’t exactly live on Wall St, so if I’ve heard it was in trouble that fact shouldn’t surprise anyone. Maybe you should keep an eye on things if it’s that important to you.
There are large banks that cater to businesses that have extra private insurance on their deposits to cover the amount above the FDIC insurance. If you need to keep a cool mil in the bank for some reason, perhaps you should investigate such things.