Ever since the Federal Reserve approved Capital One’s takeover of ING Direct, customers have feared that their beloved bright-orange online bank would change. Turns out they were right to be scared, as a recent notice is circulating announcing that the “ING Direct” name will disappear, probably next year. What else is going to change?
The Federal Reserve Board cleared the way last week for Capital One Financial Corp. to complete a $9 billion, cash and stock deal for ING Direct USA. It’s a coup for Capital One, which already purchased a few smaller banks. But ING Direct customers attracted by the bank’s generous interest rates and lack of nickel-and-diming [...]
Weeks after stirring up consumer outrage with a proposed $5 monthly fee for debit card usage, Bank of America is now following its big bank colleagues by abandoning plans for the fee. Throughout the debit card fee saga, smaller financial institutions have seized the opportunity to attract new customers by comparing themselves in a favorable [...]
After Bank of America and Citibank said they would charge for debit card use and raise fees and balance requirements, respectively, consumers went online to proclaim that they would change banks rather than pay. But talk is cheap (and switching banks can be a pain), so TIME Moneyland talked to Todd Sandler, head of product [...]
A recent chart in American Banker magazine highlighted that free checking at larger banks is getting scarcer. As recently as 2009, 96 percent of banks with more than $50 billion in assets offered free checking; now, that number has dropped to 34.6 percent.
The online bank ING Direct is introducing a new debit card and e-banking account designed specifically for teenagers. But considering how the product works, it’ll probably appeal more to moms and dads.
ING announced that for the first time it would make paper checkbooks available to accountholders. Odd throwback move or brilliant strategy?
Capital One’s been on quite the buying spree lately. Earlier this year it acquired online bank ING Direct, and now it’s just tossed the U.S. credit card portfolio of HSBC Holdings into its shopping cart, as well. HSBC has been shopping around its American credit card business for a while without finding any takers; at [...]
With the super-sizing of meals, restaurants found easy profits from consumers willing to pay a little extra to get what seemed like a lot more. Now, to appeal to health-conscious consumers, restaurants and food manufacturers are rolling out snacks, beverages, and meals in tiny portions. And miniaturizing could prove to be just as profitable as super-sizing.
– RAMIT SETHI, author and personal finance blogger, describing Capital One (which recently purchased the popular, customer-friendly online bank ING Direct) [via I Will Teach You to Be Rich]
Now that Capital One has bought ING Direct USA for $9 billion, here’s a plea on the behalf of all ING Direct customers who have long gotten a kick out of the way the company’s marketing mocks other banks for being fee crazy and nickel and diming customers: Please don’t turn ING Direct into just another bank that the old ING Direct would’ve made fun of.
