As you may know, Capital One purchased ING Direct USA in February of 2012. As part of the transition, there have been many changes that have been mostly positive for the customer and there are still a few changes to come that will have a greater impact. they engage in a straight line. On the positive side, the ING site has been redesigned and is easier to use than ever. In addition, Capital One allowed customers to use Resignation, a remote deposit capture application to remove photos and check deposits with a smartphone. But some changes are going to be less positive. A Times article on the Capital One acquisition written on February 22, 2012 noted that the ING Direct brand name is going away. Also, depositaccounts.com reports that FDIC protection for ING Direct account holders will end on November 1, 2012.
So let’s talk about the positives first. ING Direct definitely needs an upgrade to their website and I think the website redesign is definitely a positive. Better organizes the offers that ING Direct has and the log-in screen is presented logically. Once you’re in, ING’s super easy-to-use interface isn’t gone. You can still mail checks to family or bill collectors for free from Electric Orange for your check. Money transfers and large deposits are as easy as ever. While the 0.75% interest rate is not great, it is still more or less competitive with the market.
Resignation is a great feature that definitely improves my overall opinion on ING Direct. It allows you to download an image with cell phone and download it remotely. It definitely makes the account more appealing and makes it easier to survive without a local bank”> account. I believe Capital One helped to install this system and it’s good, you can find it by downloading the ING Direct app from Apple or Google Play apps.
So here’s a report on some of the changes being made by Capital One to ING Direct. As mentioned earlier, the article refers to the time the ING Direct name has passed since February 2013. While a brand name only importance in seller services, I’m still sad to see the ING Direct name go away. My guess was the name of the entity was Orange Direct, trying to keep some brand equity alive. But it doesn’t seem like it is. According to thedomains.com, Capital One has marketed and purchased domain names related to Capital One 360 and Capital One Live Silver. If neither is clear; Either or both Capital One 360 and Capital One Live Silver will be the new name for ING Direct, but it’s probably a pretty good guess that it’s one of them.
The last thing to note is that Capital One is trying to drop ING Direct’s cash license. This is a good cost-cutting measure by Capital One and likely won’t have an impact on the average Capital One or ING Direct customer. But for those people lucky enough to go money, they eventually lose FDIC insurance on a combined balance above $250,000.
Overall, it seems that Capital’s purchase of ING Direct has not had a huge impact on ING Direct’s customer base. Those changes that have been made to the site and app have been beneficial and improved the customer experience. Two things to look forward to are the name change of ING Direct to Capital One 360 or Live Money (probably) and the loss of the separate cash license that may affect wealthy customers who count on separate FDIC insurance. I look forward to the name being explored for sure and to future changes to ING Direct.
All mentioned articles were linked together and accessed as of 10/25/2012.
Report:
- www.thedomains.com/2012/07/20/domain-registrations-point-ad-a-capital-one-velum-forest
- business.time.com/2012/02/22/ing-direct-name-to-disappear-customers-abomina-as-capi
- www.depositaccounts.com/blog/2012/09/ing-directs-merger-in-capital-one-will-cause-f
