I have had accounts in all three (HSBC, ING and capitalone) for years. They are no different than your local bank. They are FDIC insured just like any other bank in US. The only difference is that you have to wait at least 3 days to withdraw money after you transfer from the account. So tese account are not meant for emergency purpose. But you have to read the fine prints before you open an account in any one of these. Let me know if you are interested in INGdirect. I will show you how you can make extra $50 just by openning an account there.