Most cases of ID theft and credit/debit card fraud involve the thief going whole-hog on the victim’s account, spending as much as they can in a very short period of time. But what happens when that fraudulent activity isn’t enough to set off alarm bells at the bank? [More]
It’s been more than a year since ING Direct customers got news that their online bank was being bought by perennial Worst Company In America contender Capital One. But the last vestiges of ING will soon disappear after its name changes to Capital One 360. [More]
In spite of reported concerns that Capital One’s proposed purchase of ING Direct would create yet another bank that was too big too fail, the Federal Reserve announced yesterday that it has signed off on the $9 billion deal.
With folks at the Federal Reserve already reportedly concerned that the sale of ING Direct to Capital One could create another too-big-to-fail bank, a group representing the nation’s smaller banks has raised its voice in concern.
Back in July, Capital One announced a deal to purchase online bank ING Direct USA for around $9 billion. And even though Cap One tried hard to quell ING customers’ screams of “nooooooo,” the folks at the Federal Reserve are reportedly a bit worried that the deal might create another bank so big that its failure would have a disastrous impact on the economy.
When we first reported that Capital One would be purchasing online bank ING Direct, the response from ING customers was overwhelmingly negative with some variation on “noooooo” being a common comment. But lest you think everyone at Cap One is a barbarian (and/or viking), a rep for the perennial Worst Company In America contestant talked to the NY Times to allay ING customers’ fears about their new overlords.
The barbarians at Capital One have reportedly laid siege to the ING castle and are prepared to take control of online bank ING Direct, a move that would allow Cap One to leapfrog over the head of several competitors.
Banks that aren’t evil? Really? CNN Money rounded up eight American banks that might not be consumer paradises, but offer free checking, no ATM fees, and comparatively high interest rates for savings accounts.
One thing that can derail people digging themselves out of debt are the random unexpected setbacks life likes to throw at us to keep us on our toes. The accidental parking ticket, the bike that breaks down, the illness that requires pricey pills. Any of these can be enough to upset even the most carefully orchestrated budgeting and debt payment schedule, unless, you are smart like Ramit Sethi, and set up a “stupid mistakes” sub-savings account. Here’s how it works.
302-255-3704 – Rick Roberts direct dial
Nothing sucks like getting stranded internationally without cash, which can happen if your bank confuses your sudden overseas withdrawals with potential fraud and puts a block on your account. That’s why it can be a good idea to call your bank up and have them put a note on your account to say when and where you’ll be traveling. ING Direct customers, for one, go to their checking account maintenance page and fill out the form that asks about travel info. Sure you could probably just call to get the block lifted but then you have to buy a card with one of those funky chips in it and figure out the international calling code and whatnot. (Thanks to Brandon Savage!) (Photo: piglicker)
Are you earning at least 4% in your savings account? If NO, do yourself a favor: Open a high-yield online savings account and start adding some serious muscle mass to your savings. Here’s the skinny:
Last week we told you about Rob who never got a $1400 wire transfer when he was a Netbank customer, and then after ING acquired the bank when it failed, their customer service never fixed the transfer despite 8-months of calls assurances. We gave Rob the phone number for ING executive customer service (302-255-3005) and now he happily reports:
Within a few hours of my initial contact, Laura got back to me via phone to let me know exactly what happened. It appears that the initial wire transfer paperwork was filled out incorrectly by the sender and the money hadn’t ever made it to Netbank or Ing Direct but only got to American Express Bank (who as acting as an intermediary in this transfer.) I contacted American Express Bank and in a few minutes they were able to confirm that the wire was incorrectly setup and the funds had been returned to the sending back on August 10th…
I was the recipient of an international wire transfer into my Netbank Checking Account for $1000 EUR (about $1400 US) on 2007-08-08. After I noticed the amount didn’t post to my account, I contacted Netbank and the sending bank in Spain. The sending bank generated a multi-page “proof of transfer” document and indicated the money had been transfered. Netbank never got back to me. This began the 7 month nightmare of dealing with an inattentive bank in the middle of it’s being seized by the FDIC that continues to this day.
Pictured: CEO Arkadi Kuhlmann perched atop his Harley-Davidson in the ING-Direct company lobby.
When Netbank went belly-up, all its customers and their accounts got converted to ING Direct customers, but reader Nate says they bungled his conversion and left him without funds, days before he was supposed to complete a cross-country move. He writes…
Your savings can earn upwards of 4 more percentage points of interest, if you put it one of these high-yield online savings accounts. Here’s seven to check out.