Wow! I used to have an account with this bank. Netbank has been shut down by the feds due to too many defaulting loans.

What’s kind of disturbing to me is that Netbank appears to be owned by ING, and I have a savings account with ING. This makes me question ever using that savings account for anything serious. Then again, I don’t know the technical ins-and-outs of the banking system so perhaps this is a non-issue.

Whatever the case, this definitely raised my eyebrows. Netbank was pretty darn good back in the day and I wouldn’t have ever expected them to go under.

~Steph