I mourn the death of 'renegade' bank ING Direct

capital one 360 logo

I knew this day was coming, but I'm sad it's finally here: ING Direct is no more.

At the beginning of February, ING Direct officially became Capital One 360, about a year and a half after McLean, Va.-based Capital One agreed to purchase ING's U.S. banking operation.

When I log into my savings account, there's no kicky orange color scheme, no lion, and the only evidence of ING's bouncing ball is next to a link that says, "Where's ING Direct?"

Instead, the site is now a muted red, white and blue with a Capital One 360 logo.

Even the ING Café in Philadelphia near where I live has already switched over to the Capital One 360 Café. The only evidence I can find of ING Direct still online is its @INGRunnerNation twitter account.

Right now, the cosmetic changes are the only ones Capital One has made.

Savings rates remain the same today as they were before the transition (better than Capital One Bank itself; much worse than the best nationally available deals).

Capital One 360 Rates

Account Interest rate
Savings 0.75% APY
6-month CD 0.40% APY
12-month CD 0.40% APY
24-month CD 0.40% APY
36-month CD 0.70% APY
60-month CD 0.90% APY

The website was revamped months ago — in orange and white with colors just now switching over — and they've been updating customers on changes, so this isn't a surprise.

Still, I worry.

ING branded itself as being a renegade bank, going online way before everyone else, giving away lavish interest rates on savings accounts and keeping fees down while big banks started dinging you for almost every move.

I joined nine years ago and loved it. Even after ING dropped its interest rates along with everyone else, I still liked stashing my money there.

Capital One has done PR-speak about respecting the same values without actually confirming it will keep them.

If Capital One does abandon the ING way of business, I'll move my cash elsewhere.

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