I have/had used Netbank for several years without issue, but when the sale to Everbank fell through, I went ahead and opened another account elsewhere just in case....now glad that I did.

Although I do still have some funds on deposit at Netbank, it is important to note that those funds are still available and usable either via ATM/Debit card or checks. I ran a couple debit card transactions just to be sure and there was no issue there. Bank website is offline but is supposed to re-open later in read only format and return in full Sunday evening. The only thing that has been restricted at this point is online bill pay which is disabled. I spoke to ING as well as the FDIC group handling this and so far it seems they are trying to do what is best to get things switched with minimal impact to customers.

That said, I have already initiated a transfer to get the rest out so I don't have to mess with it going forward. I can only hope that those with deposits over the FDIC insurance thresholds fair as well as those that are covered.

I do also wonder about the mechanics behind all this. Since they were shut down by Thrift, I wonder how ING ended up getting the deposit accounts (for a $10 Million charge) rather than forcing FDIC insurance to kick in. The article mentions assets and deposits, but it doesn't mention liabilities which I would think would be an important number to the scenario.