--- description: 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... title: ‘ING Direct’ Name to Disappear: Customers Disgusted as Capital One Swallows Favorite Online Bank image: https://static.time.com/v3/assets/bltea6093859af6183b/bltde093bcdab65f2d0/6988d9b9bc6cfc69913e2a3c/time-logo.jpg?branch=production --- * [Business](/section/business/) # 'ING Direct' Name to Disappear: Customers Disgusted as Capital One Swallows Favorite Online Bank by [TIME Staff](/author/time-staff/) Feb 22, 2012 3:24 PM CUT by [TIME Staff](/author/time-staff/) Feb 22, 2012 3:24 PM CUT Ever since the [Federal Reserve](http://topics.time.com/federal-reserve/ "undefined") approved [Capital One’s takeover of ING Direct](http://moneyland.time.com/2012/02/20/ing-and-capital-one-is-a-culture-clash-inevitable/ "undefined"), 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? more On that subject matter, the banks aren’t saying much—giving customers, who [started freaking out last summer](http://moneyland.time.com/2011/06/17/capital-one-buys-ing-direct-and-customers-start-to-freak-out/ "undefined") when the possibility of a merger first made news, even more reason to panic. Tuesday afternoon, customers of [ING Direct](https://home.ingdirect.com/ "undefined") and [ShareBuilder](http://www.sharebuilder.com/ "undefined") (an investing site owned by ING Direct) received an e-mail officially alerting them that ING Direct has “joined the Capital One team.” The message assures customers that they will still be able to access accounts, pay their bills online, and whatnot. Business as usual. It also plays up a couple of new perks available due to the merger: --- > “” --- (**MORE:** [ING Direct and Capital One: Is a Culture Clash Inevitable?](http://moneyland.time.com/2012/02/20/ing-and-capital-one-is-a-culture-clash-inevitable/ "undefined")) What about the downsides of being taken over by Capital One? None of that info is presented in the message, for obvious reasons. But at an [ING Direct-Capital One FAQ page](https://home.ingdirect.com/capitalone/faqs "undefined"), customers will discover that “ING Direct” is a dead man walking. The name itself will soon disappear: --- > “” --- \[**UPDATE:** Capital One reached out to Moneyland and explained that it simply isn’t allowed to keep the “ING Direct” name. The official statement is this: “The name will gradually have to change over time. Legally, due to the acquisition, we’re only allowed to use the ING Direct name for about a year after closing.”\] What’s also noteworthy is what’s _not_ on this FAQ page. Namely, there is no guarantee that ING Direct’s customer-friendly policies—in particular, the near absence of fees and balance requirements—will remain in place. As someone who knows many ING Direct customers (and who happens to be one personally), I can assure the banks involved here that the absolutely most Frequently Asked Question is and will continue to be: Are any new fees or requirements going to be added, potentially negating the reasons I started banking with ING Direct in the first place? (**MORE:** [Underwater: Will the Foreclosure Deal Help the Housing Market?](http://www.time.com/time/magazine/article/0,9171,2106978,00.html?iid=pw-ml "undefined")) On this topic, Capital One says it has “no current plans” to make changes to ING Direct accounts. But that’s not the same as guaranteeing that it _won’t_ make any. A [statement from the company](http://phx.corporate-ir.net/phoenix.zhtml?c=70667&p=irol-newsArticle&ID=1662485&highlight "undefined") last week noted that “the transaction is expected to have minimal impact on customers. ING Direct will continue to provide the same high quality customer experience, products, account servicing and functionality to its customers.” But “minimal impact” is a subjective term, and it’s not the same as “no impact.” The ING Direct “Savers” blog is known for posts that mock banks that hammer customers with fees. Recent example: A call-out to readers asking them to end the sentence, [“You need checking fees like you need …”](http://wethesavers.com/our-stories/you-need-checking-fees-like-you-need/ "undefined") But the blog is mum on the Capital One merger, offering no insight as to what customers can expect down the line in terms of fees. Last summer, in a [Q&A with the _New York Times_](http://bucks.blogs.nytimes.com/2011/06/22/capital-ones-response-to-outrage-over-ing-direct-purchase/?hp# "undefined"), a Capitol One spokeswoman offered this non-answer when the subject came up regarding the addition of new fees or requirements: --- > “” --- (**MORE:** [Capital One Buys ING Direct, and Customers Start to Freak Out](http://moneyland.time.com/2011/06/17/capital-one-buys-ing-direct-and-customers-start-to-freak-out/ "undefined")) Understandably, customers [started freaking out when the Capital One takeover first came up](http://moneyland.time.com/2011/06/17/capital-one-buys-ing-direct-and-customers-start-to-freak-out/ "undefined"), and they’re continuing to freak out now. Here’s a sampling of posts from this week at [ING Direct’s Facebook page](http://www.facebook.com/ING-DIRECT "undefined"): --- > “” --- Customers are also Tweeting about the merger, sometimes with the help of colorful language. For example: --- > “” --- George Bailey would never use that sort of language. But he’d probably be on the same page. _Brad Tuttle is a reporter at_ TIME. _Find him on Twitter at_ [_@bradrtuttle_](http://twitter.com/#!/bradrtuttle "undefined")_. You can also continue the discussion on_ TIME_’s_ [_Facebook page_](http://www.facebook.com/time "undefined") _and on Twitter at_ [_@TIME_](http://twitter.com/#!/TIME "undefined")_._ ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/archive/7102112/ing-direct-name-to-disappear-customers-disgusted-as-capital-one-swallows-favorite-online-bank/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/archive/7102112/ing-direct-name-to-disappear-customers-disgusted-as-capital-one-swallows-favorite-online-bank/"},"headline":"'ING Direct' Name to Disappear: Customers Disgusted as Capital One Swallows Favorite Online Bank","datePublished":"2012-02-22T15:24:01.000Z","dateModified":"2026-03-16T01:24:35.661Z","description":"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. 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