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What does this mean ? Hopefully not much .. but I never had a good opinion on Capital One, and now that it absorbed Sharebuilder & ING
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Dear invisible:

So what does that mean for you? It means we'll have the same commitment to helping you save time and money as we always have - only now as part of Capital One. You will access your account the same way you always have.

Last February, ING DIRECT and ShareBuilder Corporation became a part of the Capital One family, but there's still some official stuff we have to tidy up, like consolidating our legal structure. What's that mean in real life? It just means that on November 1, 2012 subject to regulators giving us the final go ahead ING Bank, fsb (that's ING DIRECT's official name) and Capital One, N.A. will legally become one bank - and unless you hear from us, assume they gave us two thumbs up.

It also means that the coverage on the FDIC Insured Cash Balance in your ShareBuilder account will stay as-is until 6 months following that date (or, May 1, 2013). Then, your FDIC coverage will be based on your total combined deposits at Capital One, N.A., ING DIRECT, and in your ShareBuilder account up to the FDIC max of $250,000 per depositor or $500,000 for joint depositors. Keep in mind, the coverage extension won't apply to any deposits made after November 1, 2012.

Money that's invested in securities in your ShareBuilder account is insured by SIPC - not FDIC - so it doesn't count toward the FDIC limit.

We look forward to sharing more information with you over the coming months.
The ShareBuilder Team

Member Summary

Sharebuilder didn't seem to change. CapOne has a credit card for everybody, not the best of the best. ING Direct has failed to open an Electric Orange for me many times, something about they have a secret unique customer number which they have created, you must provide, they may promise to send it by snail-mail and never do, so failing to honor advertised specials. Hopefully THAT will stop. ING in its Eurotrash operations is known for money laundering and tax evasion if your account is large enough.

Pretty old news, but it's good they sent an email let customers know what's up

http://www.fatwallet.com/forums/finance/1105490/

It's probably better to just wait until someone has a real complaint than to speculate.

If they're going to add any fees, your going to get substantial advanced notice.

I know many people don't like Capital One, but they haven't changed anything yet.

Here's more details on ING Direct savings accounts:

ING Direct

Capital One has owned ING Direct since February. So far, they haven't really changed anything. They did add the ability to cash checks online/from a mobile app.

publicuser said:   Capital One has owned ING Direct since February. So far, they haven't really changed anything. They did add the ability to cash checks online/from a mobile app.

Which ING kept promising and promising, and then it was there after Capital One took over. It's much better than the PNC app.

Absolutely love depositing the checks online. However, it does seem ripe for fraud.

For saving accounts, the merger means that if someone has both ing direct and capital one account with more than $250k in total, they are going to lose the fdic coverage. A tricky part is that it is relevant for capital one accounts but not for capital one bank usa accounts. I for one turned out to have both.

EradicateSpam said:   publicuser said:   Capital One has owned ING Direct since February. So far, they haven't really changed anything. They did add the ability to cash checks online/from a mobile app.

Which ING kept promising and promising, and then it was there after Capital One took over. It's much better than the PNC app.


It's a really nice app and the reason I keep my ING account. I hope they start reimbursing ATM fees too.

No guarantees that Cap One will keep things the same as they combine ING into their own products. Cap One doesn:t have use of the ING trademark forever. ING as a company still has operations outside the U.S. I feel, over time, Cap One will totally combine operations.

Capital One has operations in Houston, TX and I doubt that they will continue to operate ING Direct's Minnesota offices for the long term. When Capital One bought out a local bank recently, it also took away all of the former checking account products of the local bank. Also shut down the bill paying service of the local bank too.

SaulHudson said:   Absolutely love depositing the checks online. However, it does seem ripe for fraud.It's not like they're the only ones to be doing it. Is there any word on whether Capital One will be adding this to their app? Is there any quick way to transfer money between ING and Capital One accounts? I was actually at a Capital One branch today, I was going to open the high yield checking account (I could not do it on their website because their brain-dead website does not consider me eligible because I am more than 10 miles from a branch, even though it is in my county and advertised in my local newspaper. Anyway, after being kept waiting for 20 minutes I got up and left. So I am rethinking what to do. I want to find a bank with decent (1%+) savings or checking, free Quicken access, and mobile deposit, and ATM rebates. Capital One doesn't have the mobile deposit but I'm hoping they will soon.

WTF! nothing is changing... except our name and colors. ING is being Qwikster-ed

Our name is changing to Capital One 360 and our colors are changing to red and blue – but our commitment to you is staying the same.
Yep, it's true: As of February, we'll have a new name and fresh look on the outside – but on the inside, it's the same ING DIRECT you've come to know and love.

Don't like it, will be closing my account this month (used ING for 7 years). Switching over to Ally.

Got an email with an update. Seems like after the transition the debit cards will have NO Forex fees. I believe they had been 1 or 2 % previously.

Transition appears to be finalized. Don't see any major changes as yet. Colors and account descriptors updated as per previous communications from Cap One.

Has anyone switched out of ING/Capital One? If so where is the best place now to pt $?

Jazzmaster said:   Has anyone switched out of ING/Capital One? If so where is the best place now to pt $?

Having seen the shenanigans Cap One has pulled on its customers in the past, I switched to Alliant CU. I am quite happy with the result.

No real surprise here - Capital One just closed my Sharebuilder account. They've given me free market trades to sell my existing portfolio, but I cannot buy anything. I suppose they figured my $18,000 account was too puny for them.

They closed my ING account in January, but assured me my Sharebuilder account was just fine.

There is a $50 bonus offer for opening a 360 Checking account. This is a breeze for current customers.




After opening, bonus qualification requires:

- Activate your 360 Checking MasterCard® Debit Card.
- Open your 360 Checking Account and make a total of 3 Card purchases or Person2Person Payments (or any combo of the two) within 45 days of account opening. Your $50 bonus will automatically be deposited into your account on day 50.



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