| ING, one of the world's leading financial services firms, pioneered purely online banking business with ING DIRECT. They were one of the first to see that eliminating the overhead associated with traditional banks could translate into big savings for the customer. Now ING Direct is the U.S.'s largest online bank. As customers in general have become more sophisticated and used to using the Internet for all sorts of transactions, their decision to enter the online banking space has proved to be a very wise one. Their solid reputation, innovative products, and cutting edge security features have made them one of the largest online banks, with 6.5 million online banking customers in the U. S. alone, and 15 million more internationally. How does ING DIRECT benefit its customers as an online bank? As with some of their main competitors, WTDirect and E*Trade Bank, one of their key advantages over traditional banks is low overhead and high interest rates on their savings accounts. They also provide competitive mortgage rates and low fee structures for those borrowers with better than average credit, especially those borrowers with 20% down payments. ING Direct Company Facts - Company Name: ING Direct Official Company Banking Website: http://home.ingdirect.com/about/about.asp Year Founded: INGDIRECT was founded in 2000, ING Financial Services founded in 1991 from the merger of insurance company Nationale-Nederlanden (est. 1963) and banking company NMB Postbank Groep (est. 1989). Since the merger ING Group has acquired many large and respected financial companies, such as Barings Bank (1995), Bank Brussels Lambert (1998), Guardian (1998), and Aetna (2000) CEO: Arkadi Kuhlmann ING Direct Corporate Office Location: Wilmington, DE INGDirect Mailing Address: 1 South Orange St, Wilmington, Delaware 19801 Stock Market Trading Symbol: NYSE: ING 2007 Net Income (millions USD): $674.16 Number of Employees (Mar, 2008) 2,100, including over 400 in California FDIC Insured: Yes Local Branches: No, online only. INGDirect does have Ornage Internet Cafes throughout the U.S., with coffee, food, and free Internet access for ING DIRECT Orange account holders. Banking Services and Features Offered: Orange and Electric Orange Online Savings accounts, Electric Orange High Yield checking account, High Yield CDs (1 - 5 yrs), Quick Account Transfers between ING Direct accounts or to/from outside accounts, free online bill pay automatic balance and payment alerts, ING now owns the Sharebuilder stock brokerage service for easy investment integration with banking services, no minimum balance fees, no transfer fees, business savings accounts. Customers can also get Individual Retirement Arrangements (IRAs) in the form of a Savings account and CDs. ING Direct customers have free ATM access at 32,000+ ATMs worldwide through the AllPoint ATM network. ING Direct banking customers are eligible to receive a Electric Orange MasterCard® Debit Card. Free automatic overdraft protection when using an Electric Orange high yield online checking account through an Overdraft Line of Credit. Minimum Balance Required in Electric Orange Savings Account: $0-$49,999.99 1.74 % 03/19/2008 $50,000.00-$99,999.99 3.15 % 03/19/2008 $100,000.00 or more 3.35 % 03/19/2008 Minimum Balance Required in Checking Account: No minimum for standard checking account Deposit Methods Accepted: Electronic transfer between accounts (ING Direct or other institutions) - customer must have a checking account with another financial institution Notable: The entire ING firm is pledged to be 100% carbon neutral in an effort tohelp the fight against human influenced climate change. One of ING's goals is to operate in a responsible and globally sustainable manner. The number of U.S. ING Direct clients increased a robust 41% between FY 2006 and FY 2007. ING doesn't sell loans to outside investors. It actually holds all the loans it originates, unlike virtually any other large, financial institution. ING contributed $1 million to the Iowa disaster relief fund for help with the 2008 floods. ING Direct Bank's User Comments and feedback from around the Internet " The best product on the market for anyone that has money they would like to invest and earn a return on. By far the best customer service....." - ThriftyFun. com user forum "Excellent Savings account. Easy to use and you can see your money growing day by day.... " - ThriftyFun.com user forum "Opening the account and all was easy. No more difficult than anywhere......" - eMoneyCentral user forum "I've had an account with ING now for about a year and have had ZERO problems with them. I have transferred a ton of money out and into the account without incident....." - ThriftyFun.com user forum The advantages of ING Direct online bank:
Disadvantages of ING DIRECT online bank:
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ING DIRECT Online Review and Information
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ING DIRECT Online Bank
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| Watch this video of ING DIRECT CEO Arkadi Kuhlmann reveal how you can earn more money with an ING DIRECT Orange account. |
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