Hopefully, Capital One 360 will be different, but their current CD rates that are very low don't give me a lot of optimism. Large banks have rarely kept their internet bank rates competitive. Now we'll have to wait and see how competitive Capital One 360 will be. ING Group allowed us to use "ING DIRECT" only until February, 2013. According to the FAQ: As we told you back in June 2011, our parent company - ING Group - agreed to sell ING DIRECT USA as part of a restructuring agreement with the European Commission. The name change was a requirement from Capital One's acquisition of ING DIRECT. If you haven't followed the transition history, thisĬapital One 360 FAQs page has the details. For those who had accounts at both ING DIRECT and Capital One, you will continue to have separate FDIC coverage to at least until May 1, 2013. I looked at my ING DIRECT 2012 1099, and the bank is listed as Capital One, National Association. Red has replaced orange, and the 360 ball has replaced the orange ball. The only thing I can see that has changed is the colors. Also, the rates and products are the same. I tried logging in to my ING DIRECT account at and the process worked the same as before. ING Direct's website at now redirects users to. Transferring funds to an external bank account will take a couple of business days to process, so make sure to arrange transfers in advance of when you'll need the money.ING DIRECT has officially been converted to Capital One 360. This savings account doesn't come with an ATM card or check-writing capabilities. You can then withdraw them from your checking account using your debit card or by writing a check. If you transfer your funds to a Capital One 360 Checking account, they should become available immediately. Electronic transfer to a linked account.When you're ready to withdraw money from your Capital One 360 Performance Savings account, you can do so using one of these methods: If you're transferring from an external bank, they may take a few business days. If you have a Capital One 360 Checking account, transfers will process instantly. The bank also makes building your savings easy by allowing you to set up automatic recurring deposits from a linked checking account. Electronic transfer from a linked account.You can fund your Capital One 360 Performance Savings account through the following methods: Luckily, Capital One 360 makes it easy to deposit and withdraw funds. With any bank account, being able to access your money when you need to is crucial. The bank also offers its unique Capital One Cafés, which combine banking services and money coaching with coffee, snacks, and wifi, throughout the country.įDIC insured: Capital One's 360 Performance accounts are covered by FDIC insurance, so in the event of a bank failure, you're protected up to $250,000 per depositor, per institution. Full-service branches are available in a handful of states, mostly on the East Coast. Online and in-branch hybrid: Unlike most online banks, Capital One does offer a small number of branch locations for people who prefer in-person banking. This account has no maintenance fees, so you don't have to worry about fees eating into your earnings. No monthly fee: Monthly maintenance fees can defeat the purpose of opening a high-yield savings account. Capital One's 360 Performance Savings account has no minimum balance requirements to open or maintain the account.
No minimum balance requirement: While it is possible to find online savings accounts with slightly higher interest rates, many of them require minimum balances to earn those rates. Capital One's 360 Performance Savings is up there in the ranks of the best online savings accounts due to its higher-than-average APY on all balances. 0.60% APY: If you're opening a high-yield savings account, it's because you're looking to get better returns on your savings.
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