Capital One Purchases Online Bank ING Direct

One of the greatest safe havens for investors wary of bank fees has been online banks such as one of the pioneers of the field, ING Direct. While brick and mortar banks have had to contend with overhead fees and labor costs, online banks have significantly lower costs. Because of this, online banks have generally become a friend of the savvy investor who aims to receive higher interest rates and seeks to avoid petty bank fees. True, interest rates haven't been much to sneeze at in recent years, but generally speaking, online have provided the opportunity to eek out a little extra something on savings and select checking accounts. However, recently, Capital One bought ING Direct, raising many questions about the ING Direct's future as a low-cost provider of banking needs. It's probably safe to assume that Capital One will want to increase ING Direct's revenue, and the only way they can do that is by taking more money out of your pocket. If you want to read a thoughtful article on the Capital One purchase of the online bank, check out Flexo's article at Consumerism Commentary, link here: http://www.consumerismcommentary.com/capital-one-buys-ing-direct/ .