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Citi Center to become Something Else Center as sponsoring bank flees Boston
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By adamg on Thu, 09/24/2015 - 7:31am
Like Krispy Kreme before it, Citigroup couldn't break into the Boston market and is now just giving up. That includes ending its sponsorship of what we used to call just the Wang.
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Comments
No surprise
We have too many banks already.. I'm surprised they stayed this long. I actually thought Crapital One would have closed first. Citi at least has had banking operations for years, vs Crapital One 360 is relatively new to the banking field.
Krispy's issues were a bit different. Yeah they had a hard time breaking into Dunkin Donuts Territory, but it was more to do with the franchise holder for this area refusing to expand anymore thus violating their franchise agreement. Once the franchiser realized they weren't going to make hand over fist on KK stores, they stopped after the Saugus store. From what I remember (when I briefly worked at the Medford store as a manager), they were contracted to open something like 25 stores in CT, RI, MA and NH. They only opened like 5 before they stopped. After that, KK yanked the franchise, and they closed most of the stores (due to that and poor sales), except for Mohegan Sun.
It didn't help that the low carb craze was taking off about that time, and KK's coffee just sucked (you think DD is bad.. try KK, it was gross)
???
As someone who switched from Citizens to "Crapital One", I've been nothing but ecstatic with the service. There are some annoyances, like the inability to traditionally wire money from bank to bank, but all told it's a very good bank with good customer service (I usually get a rep on the line in under a minute). And Capital One 360 isn't new, it's been around since 2000, formerly ING Direct. I suppose that's "relatively new" in the world of banking, but I inferred that you thought it was some new product that was launched in 2013 (which is when they rebranded ING).
And furthermore, Citi and CO360 run completely different models: Citi is your traditional brick and mortar bank, whereas CO360 is an online bank. The CO360 locations are cafes that have ATMs. I highly doubt that people will grab an iced tea at Citibank.
Not really sure where your vitriol stems from.
I was
I was a capital one customer for many years. I also was an ING Direct customer too. I know all about their products, services, and lousy customer service. I had nothing but problems dealing with those people. I loved ING Direct and they ruined it. ING direct was purchased by CO in around 2008ish.. I remember the merger from all the letters, calls, and emails I received)
I also was a Citizens customer for many years also. I dumped them and Capital One for a credit union and really haven't looked back.
For me, Capital One as a company is awful. Second only to Citizens Bank. The word "sleaze" comes to mind when I think of Capital One.
And that's just the banking side, I won't even begin to talk about their predatory credit card practices.
I've had mostly reliable service with CO360
It's nothing like ING as you've stated. ING had a much better system for certified checks. When I had to call ING, the person I was speaking with also seemed much more willing to help. I feel as though customer service in general is declining across many industries.
yup
Your comment doesn't make sense tho.. I'm confused at your first and second sentences.
But OK I think I get what you're saying anyways.
I've just never had luck with faceless big banks in general. I guess I like the personal touch. I'll never go back to a big bank, ever. I'll stick with a credit union.
"Different strokes for different folks" I guess.
fair enough
My experience with Citizens was far worse, so I guess anything looks good compared to that. I don't think any company can eclipse the scumminess of Citizens, particularly related to overdrafts. About 8 years ago I used my Citizens account only for checks and paying bills, and directed the rest of my paycheck into a 401(k). They would routinely inflate my balance by about $50 whenever I'd get close to $0...then of course if you bought lunch and a few other items with that "$50", they'd put the big payment through first, and then the small ones to trigger 3 or 4 overdrafts (when of course reversing the order would result in just one overdraft).
If I ran into the same situation with CO360, they'd simply charge me interest on the balance overdrawn. Though I must admit I have no frame of reference vis-a-vis Capital One's practices with overdrafts prior to some recent consumer protections have been put in place.
Citizens
This is EXACTLY why I left Citizens Bank. I got tired of this. I keep my checking account balances very low (as I keep my cash in other accounts) so I'm always very close to zero at all times. (long story why I do this). They would do exactly as I described.
I got tired of getting 100-200 dollars in bounced check fees for their shady business practices.
Yeah I should keep better records, but even if I did, they'd find some way to screw me. Like their "account maintenance fee" (which is a crock of shit anyways IMHO, I'm keeping MY money in your bank, don't charge me to do that)... it was never the same day every month. Some days it was the 10th, some times the 20th.. regardless if it was a weekend or not. Then of course they sent it thru when I had a low balance to charge me a fee. So essentially it was a fee for a fee.
I hope you took part in the class action lawsuit last year? I got a nice check for 300 bucks. Still not money for the aggravation I had to deal with over the years.
"Your comment doesn't make sense tho."
Ah. I meant cashier's checks. I send out a lot of cashier's checks. The system on ING Direct used to log all of the payees you sent money to. So when it came to send the check, you were able to select the payee from a drop down menu. It also logged their addresses and allowed you to enter new information if needed. The new system doesn't work this way. They now require you to manually enter each payee and each address. They also added a feature which checks the address against a post office database. This last feature has caused my checks to be returned to the bank. If it sounds confusing, it is. With ING Direct it was much easier to move around large chunks of money when cashier's checks were needed.
ING Direct
I liked that company a lot.
I bailed when CO took over and started changing things.
Can you really call Capital One 360 new?
It used to be ING Direct.
Yes
Capital One 360 was purchased ING Direct. ING was a internet savings bank only. They didn't offer checking accounts until right about the time Capital One bought them. They weren't really a 'full featured' bank until Capital One bought them and opened actual branches.
This is incorrect
ING Direct offered checking accounts for years before then. My account opened in 2007 and the Capital One acquisition was in 2011.
FWIW, I have not noticed any difference since the transition. I'm still a happy customer.
CO360 Cafes
ING Direct had cafes long before the CO buyout. I went to one in Philly in about 2007.
I never understood why they came here in the first place
A few years ago, they opened a branch in Winter Hill in Somerville. The location never made sense and it closed within a few years.
Saturation
I think it's for saturation purposes. And many of these banks opened up because of TARP money a few years ago. (which is why Capital One became a bank, to get TARP money)
Just call it the Metropolitan
Just call it the Metropolitan as it originally was and leave be.
Streetscape Design. Theater District of Boston.
Even more can be done for the Theater District of Boston to make it better and more fun. Design for the streetscape could make getting around the area more entertaining/enjoyable.
Anheuser-Busch Performing
Anheuser-Busch Performing Arts Center !
*Harpoon* Performing Arts Center
Now that's more like it.
'' Adolphus Busch Hall is a
'' Adolphus Busch Hall is a Harvard University building located at 27 Kirkland Street in Cambridge, Massachusetts. It is named for brewer and philanthropist Adolphus Busch, former president of the Anheuser-Busch company, who contributed $265,000 to its building fund. ''
They already are in the public building business!!!
Uh, Harvard's not 'public'...
Uh, Harvard's not 'public'...
Would like have to be quickly renamed as The
Anheuser-Busch-Inbev-SABMiller Center. Slogan: "All your crummy, watery macros under one roof!"
Would prefer a "local" name
In the spirit of the Wang Center, I'd like to see it again named for a locally-connected magnate/philanthropist. How about the John Fish Center?
Wang
Call it the Wang again. As Tai on FNX used to say, "You can't beat the Wang for entertainment."