I guess it depends on how large this "chunk" is. If it's only a couple hundred, I'd agree, no biggie. But if you're talking thousands or even just close to a grand, then it's not worth it IMHO.

For one, there's the obvious risk of losing it all to theft or disaster (your place could burn down or something). On the more subtle side, your savings would essentially shrink due to inflation. Inflation is what, like 4%/yr now? Assuming such, ING would at least baaaarely beat it out. A regular bank wouldn't do much in that department, but at least they're usually insured and you're money should be in a safer place.

I'm guessing that your bank must have really messed up to make you so against banking?