WhereMoneyDoesn'tTalk - Where Money Doesn't Talk Think ING...

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1 Where Money Doesn't Talk; Think ING Direct wants your cash? Don't be so sure. This bank cherry-picks customers--and fat cats aren't among them. Matthew Swibel 24 May 2004, Forbes, 176, Volume 173 Issue 11 Think ING Direct wants your cash? Don't be so sure. This bank cherry-picks customers--and fat cats aren't among them Most bankers will do anything for customers with six-figure accounts. Not Arkadi Kuhlmann. The chief executive of ING Direct enjoys spurning some account-seekers who want to deposit more than $100,000. The reason? People with that much money to stash in a savings account demand a lot of coddling. And coddling costs money. "That's just not our model," says Kuhlmann, 57. ING Direct has become the nation's largest Internet-based bank by thumbing its nose at its earthbound, overhead-laden rivals. Let Commerce Bank and Washington Mutual open snazzy branches with penny counters and kiddie corners. At ING Direct customers don't get so much as a toaster. Instead the no-frills bank thrives, much as Southwest Airlines does, by providing low-
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