ING Direct Changing to Capital One 360 – What it Means to You

by Kevin Mulligan

ING Direct has long been one of the most popular online savings accounts due to its ease of use, high interest rates, and the ability to easily create sub accounts to better track your saving. One of my favorite ways to use the sub-accounts at ING Direct is to create multiple emergency funds, which can help you plan for multiple contingencies.

ING Direct’s parent company had financial problems and sold the US branch of ING Direct and ShareBuilder to Capital One. As part of the acquisition Capital One is rebranding ING Direct as Capital One 360. Read our full review of Capital One 360 to learn more.

ING Direct Becomes Capital One 360

ING Direct will become Capital One 360 – what does it mean for you?

Why is Capital One Rebranding ING Direct?

Simply put the ING Direct that Capital One purchased is the one that operates in the United States. Technically it is called ING DIRECT, USA. They didn’t buy all of ING Group — the parent company that operated ING Direct. ING Group still has operations in other areas of the world, particularly in Europe. The selling of ING Direct by ING Group was part of a settlement agreement with the European Commission, who allowed Capital One to use the ING Direct name until February 2013.

What Changes Can Customers Expect? (Is ING Direct Ruined?)

Capital One has a mixed reputation in the eyes of consumers. Does this mean that they are going to ruin ING Direct? What does this acquisition really mean for ING Direct’s customers moving forward?

The company has posted a pledge about how things aren’t going to change. That while Capital One is the new parent company, ING Direct as a company — the operations, the people, the online service — is still around. It is just a new label with new colors slapped on top of it.

From a business perspective Capital One would have to be incredibly ignorant to make drastic negative changes for its customers. While there is loyalty to the old brand, the website and ease of use, and all of your sub-accounts, the loyalty will quickly fade if negative changes happen. Customers have the ability to quickly find a better bank when it comes to online banks. I would imagine Capital One knows that and will work to maintain the status quo as long as possible.

Aside from that the only changes you should see are:

  • new colors of red and blue to match with the rest of Capital One
  • new website access at

When Will Capital One 360 Officially Launch?

The change of the brand will officially happen in February 2013.

ING Direct to Capital One transfer scheduleCapital one released a schedule of events which explains how and when the change will happen. As you can see from the image the announcement of the change was made in early November, further updates are being pushed out throughout December, and the official change happens in February 2013.

Final Thoughts

As an avid ING Direct user it does scare me when there are any changes made to my favorite online bank. At the same time I am comforted in knowing that Capital One didn’t buy ING Direct on a whim. There is a ton of money at stake and if they ruin the bank customers like you and me will leave in droves. Unless something dramatically changes I think most customers will be happy to stick with the new Capital One 360 in the future.

Published or updated September 11, 2015.
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