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First Republic Bank Fails and Is Acquired by Chase - Impact on DepositorsING DIRECT Is Now Capital One 360
ING DIRECT has officially been converted to Capital One 360. ING Direct's website at ingdirect.com now redirects users to CapitalOne360.com. I tried logging in to my ING DIRECT account at CapitalOne360.com and the process worked the same as before. Also, the rates and products are the same. The only thing I can see that has changed is the colors. Red has replaced orange, and the 360 ball has replaced the orange ball.
I looked at my ING DIRECT 2012 1099, and the bank is listed as Capital One, National Association. For those who had accounts at both ING DIRECT and Capital One, you will continue to have separate FDIC coverage to at least until May 1, 2013. I have more details in this post.
If you haven't followed the transition history, this Capital One 360 FAQs page has the details. The name change was a requirement from Capital One's acquisition of ING DIRECT. According to the FAQ:
As we told you back in June 2011, our parent company - ING Group - agreed to sell ING DIRECT USA as part of a restructuring agreement with the European Commission. ING Group allowed us to use "ING DIRECT" only until February, 2013. So we had to come up with something new.
Now we'll have to wait and see how competitive Capital One 360 will be. Large banks have rarely kept their internet bank rates competitive. Two examples include HSBC and Citibank. Hopefully, Capital One 360 will be different, but their current CD rates that are very low don't give me a lot of optimism.
They have just changed some of the orange title’s colors to blue and everything else is the same.
in december, i got this stupid card that said "tahnks for being a customer for both institutions" or someting along those lines. Did it say anythign useful? no. anything on if my accounts will be merged? no. anything on if there's any benefit to consolidate the two? no. just a waste of paper if you ask me. on top of that, my external account was the cap1 account and now I expected to simplify the process...nope. nothing.
right now i'm waiting for all of my 1099s, 1 from a bank that was purchased by cap1, 1 by cap1direct....next year...it might e 3...sigh.
I removed over 99.9% of my money from ING a few days ago but both accounts are still open.
I had almost talked myself out of switching but then found a local credit union paying 1.26% that I missed for years. Opened it up and am using Ally for my checking.
So I voted with my feet.
I remember months ago moving a lot out of ally to put in INGs checking because at the time INGs checking rate was higher than Allys. Ally saw the move, asked why. I told them and shortly after they increased their rate above INGs over $100k rate.
Please advise as to how I can see my balance and/or if it still exists and if any money is in it.
Thanks
Anonymous | Sep 29, 2012 | Comment #12
I have two accoutns with Cap.One. Both were opened online. It turns out that High Yield Money Market belongs to Capital One and InterestPlus Online Savings is Capital One Bank USA.
2011 Year-End Statement - “ShareBuilder from ING DIRECT” -
ING Direct Investing
83 South King Street, Suite 700
Seattle, WA 98104
800 747 2537
2012 Year-End Statement - “ShareBuilder by Capital One” -
Capital One ShareBuilder Inc.
83 South King Street, Suite 700
Seattle, WA 98104
800 747 2537
2016 Year-End Statement - “Capital One Investing, LLC” -
Capital One Investing, LLC
83 South King Street, Suite 700
Seattle, WA 98104
800 747 2537
Fall 2018, when I closed the account - “Capital One Investing, LLC” -
Capital One Investing, LLC
7940 Dominion Parkway
Plano, Texas 75024
800 747 2537
Hope this helps. If you really mean “deposit accounts” and not investment accounts - that would of course have different contact info.