ING Direct is a worldwide monetary institution of Dutch origin providing banking, insurance as well as asset management to more than 60 million private, institutional and corporate clients in over 50 countries. ING proffers savings account, mortgages, certificates of deposit, loans/lines of credit, and money market mutual funds by another division.
In past years, ING Direct has appeared as the primary Internet banks in the globe, and it only began in the year 1997. The birth of this worldwide brand started in Canada, when the 5 massive banking institutions in the nation started providing services that were essentially related to each other. To proffer an excellent option, ING Direct entered the scene as well as gave Canadians a break from the low interest, service charges as well as other banking fees.
ING Direct online banking site provides services with no fees since it is not like the customary brick and mortar banks. This online bank is FDIC insured, as well as has strong safety measures prepared to keep the depositors’ information confidential and private. ING Direct also offers huge services like savings accounts.
Savings accounts on the ING Direct have high interest rates than any other banks since they do not charge overhead fee that banks with local branches usually charge their consumers. You do not have to disburse fees, minimum deposits, and withdrawal charges with this online bank. You can have many accounts with diverse names for saving as well as other purposes with the ING Direct. The savings accounts which are offered by this online banking are connected to a checking account at your local bank. In this way funds transfers among banks can be made earlier and more suitable.
You cannot open a checking account with the ING Direct. Though, they do proffer other services such as mortgages, mutual funds, home equity loans and certificate of deposits (CDs) of changeable lengths. You can gain from the low closing costs as well as the absence of application fee for mortgages with this online bank. You might borrow a huge amount at home equity loans at a lower rate. There would be no annual fees, no application fees and no prepayment fine for this service.
ING Direct also permits you to buy a certificate of deposit (CD) for a 6-month period plus provides a very good interest percent on your cash. Anybody can afford CDs since they have no minimums. This is the best offers accessible if you are able to keep money in for at least 6 months.
You can list direct-deposit transfers to your savings accounts that will be taken from your checking account automatically with this online bank. This feature is user friendly, plus you can without difficulty find a way to hoard money because of decent interest rate. You can even gain rewards by referring your friends to the ING Direct. The online bank would deposit $25 in your account if your friends decide to sign up for a new account. You can save and earn money with this great characteristic.
Originally posted 2008-09-19 13:37:30.