ING Direct

History

In the past years, ING Direct has emerged as one of the leading Internet banks in the world, and it only started in 1997. The birth of this global brand took place in Canada, when the five giant banking institutions in the country began offering services that were basically very similar to each other. To offer an excellent alternative, ING Direct entered the scene and gave Canadians a break from low interest, service charges and other banking fees.

ING Direct was welcomed by Canadians with warmth. It wasn’t long until the bank was enjoying tremendous popularity, serving more than a million clients within the borders of the country. In 1999, ING Direct transcended national borders when it opened ING Direct Spain and Australia. The next year, ING Direct US and France opened for business. Its counterparts in Germany and Italy were set up in 2001, in the UK in 2003, and in Austria in 2004.

In Canada alone, ING Direct serves more than 1.4 million customers through the work of only 850 employees. As of 2007, the bank has over $22 billion in assets. Since its advent 10 years ago, ING Direct has paid its clients more than $2 billion in interest while collecting $0 in service charges and fees, securing its place in the banking industry.

Signing Up

Just like any other transaction with ING Direct, setting up an account can be done through the Internet. To sign up for an account, visit their website and choose the type of account you need. Accounts are classified into four categories: savings accounts, business accounts, mortgages and mutual funds. What is more delightful is that the rates are indicated opposite them, so you won’t need to contact them to inquire.

Updates

It always pays to be informed about the events in which your bank is involved. You need to know the movements of loan and deposit interests, latest promos and other things that could benefit you. That’s why ING Direct makes sure that its clients are updated with the latest news about the bank and the banking industry through its website. The “What We’re Up To” page displays everything you need to know about the bank. Whether its press releases, latest advertisements or newsletters, you will find it on their website.

Interest Rates

As a customer, you have the right to know how much you earn or lose from your account. If you’re an ING Direct client, you know that your bank offers a much more beneficial deal than many other banks out there, but knowing the exact figures is helpful. The good news is that you can actually see these rates on the Internet. The “Accounts and Rates” page of its website has all these rates on display sorted by account type. Aside from investment interest rate, you can also view loan interest rates, mutual fund rates, and mortgage rates.

Enrollment Forms

Apart from the usual banking forms, enrollment forms are also available for download from the ING Direct website. If you are the type who prefers to open an account by mail or fax, you will find this feature very useful. These include personal savings forms such as guaranteed investment form and investment savings account form. Mutual funds forms are also available. All you need to do is visit their “Forms” page on their website and choose the form for the account you want, complete it and it’s ready to go.

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