ING DIRECT is now part of Capital One

[Anonymous]

I just got this mail today. I thought to share with this community but this is old news now..

Anybody have idea if there is any good/bad impact ?

[maiden_girl]

Bad move...bad impact...I will be banking elsewhere now that this has happened!! I hate Capital one...I had a savings account with them that I closed in favorite of my ING direct and now they have bought them out...I expect to see the interest rates drop to an all time lowww!

[Anonymous]

Or maybe the rates just won't go up... ING direct rates have sat at .80 since cap1 bought them. I have my checking with cap1 but savings with ING.. i've moved all my savings with ING to a money market account with ally bank. .95 percent and they give you an ATM card. Much better deal.

[maiden_girl]

Yea I don't like the whole 2 day waiting period to get to my money but then I'm less likely to rely on it if it's out of reach of sorts....I just don't want to see the rates drop. Cap One had advertised their savings account with the 1.25% APR then it dropped to nothing in like 3 months..

[bobebob]

I'm more than a little apprehensive about the buyout. 

I've heard too many bad things about Cap1 to be optimistic about it.

Then again, I don't see the point in bailing out of Ing prematurely.

I'll wait to see if there are any detrimental changes and what the differences are when the interest rates start to come back up.

[ramblin_wreck08]

I viewed this as a bad thing. Closed my ING Direct account and moved my money to AMEX personal savings. So far, so good. Saving up for a down payment on a house so the lag of an online savings account doesn't bother me. I've always made a point of avoiding Capital One.