Saturday, September 29, 2007

NetBank Closed by Feds

I must have missed this story earlier. I saw this small item in the Business Briefs section of the Washington Post and nearly fell off my chair. Joining NetBank seemed cool and getting 5000 Marriott Rewards points was definitely a plus.

I understand that all deposits below 100k will be taken over by ING bank. I am not worried, I like ING bank and wanted to be a member. I hope there are no migration problems. This seems surprising that you don't get notified of a bank closing. To be rationla that is probably to prevent a run on the bank.

I look forward to getting my dollars back or atleast see them in an account. I will keep you posted.

Wednesday, September 19, 2007