All insured deposit accounts have been
transferred to ING DIRECT ("assuming institution")
and will be available immediately.
The NetBank web site will be
closed from 3:00 pm to 5:00 pm EST, on September 28th and will reopen in
a read only mode. Normal online
services will be restored
in the early evening Sunday, September 30th.
ING DIRECT is the operating name for ING Bank, FSB.
Principal and interest on insured accounts,
through September 28, 2007, are fully insured by the FDIC, up to the insurance limit of
$100,000. You will receive full payment for your insured account. Certain entitlements and
different types of accounts may be insured for more than the $100,000 limit. IRA funds are
insured separately from other types of accounts, up to a $250,000 limit.
If it is determined that you have uninsured
funds, the FDIC will generate and mail to you a Receiver Certificate. This certificate
entitles you to share proportionately in any funds recovered through the disposal of the
assets of NetBank. This means that you may eventually recover some of your
uninsured funds.
All accounts that exceed the $100,000 insurance
limit, and/or all accounts that appear to be related and exceed this limit,
are reviewed by the FDIC to determine their ownership and insurance coverage.
If it appears that you
have potentially uninsured funds, an FDIC Claims Agent will contact you,
by either telephone or mail, regarding your account(s). Or, you may call
1-(800) 323-6111 and arrange a personal telephone interview with a Claims
Agent. The Claims Agent may direct you to download and submit a
particular form that will assist in expediting the processing of your claim.
List of Affidavits,
Declarations, and Forms available for download
Your transferred deposits will be separately
insured from any accounts you may already have at ING DIRECT for six months after the failure of NetBank. Checks that
were drawn on NetBank that did not clear before the institution closed will be honored
up to the insurance limit. You may speak to an FDIC representative
regarding deposit insurance by calling:
1-(800) 323-6111.
You may withdraw your funds from any transferred
account without an early withdrawal penalty until you enter into a new deposit agreement
with ING DIRECT by either making a deposit to or a withdrawal from your
account, provided the deposits are not pledged as collateral for loans.
For all questions regarding new loans and the
lending policies of ING DIRECT, please visit
their web site:
ING DIRECT
For additional information on
deposit insurance visit EDIE the FDIC's Electronic Deposit Insurance
Estimator.
EDIE
- FDIC's Electronic Deposit Insurance Estimator
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