ING Direct is changing their name to Capital One 360. Capital One purchased ING Direct (not ING) last year and not much has changed from my perspective. Thankfully, other than the name and branding, not much is technically changing with this update.
But still, this is weird. I have a tremendous amount of brand loyalty for ING Direct, their name, colors, slogan, etc. I’ve loved them since I first learned about them and starting using them to save more money. The same can’t be said for Capital One. Many customers have expressed their disappointment with the change, and someone has even started a change.org petition to save the orange ball. Apparently, the name change was necessary:
@obviousamerica Legally, we had to change our name. Whether our name is ING DIRECT, Capital One 360 or Aunt Berthas bank, it’s still us here
— Capital One 360 (@CapitalOne360) November 8, 2012
Here’s the official blurb you may have received if you’re a current customer:
“Our name is changing to Capital One 360 and our colors are changing to red and blue – but our commitment to you is staying the same. Yep, it’s true: As of February, we’ll have a new name and fresh look on the outside – but on the inside, it’s the same ING DIRECT you’ve come to know and love. Stay tuned for another update from us next month, or check out our Customer Info Center to keep in the know.”
I’m with ING Direct for checking and savings for the same reasons many of you are: no fees or tricks, and high interest rates on savings. While high interest rates have gone away thanks to economic conditions, I’ve never been hit with a weird or unexpected fee from ING Direct – just the same, consistent, simple service from the best online-only bank. While I don’t like this name change, I don’t think much will change.
One of the questions I’ve seen popping up since the merger with Capital One is “can you use Capital One branches to manage your ING Direct account. The answer at this time is that you can use the 2,000+ Capital One branches and ATMs to withdraw your ING Direct funds using your debit card, but that’s it for now.
What are your thoughts on this name change?