ING Direct is an Internet bank backed by Dutch-originated ING, a global financial institution offering banking, insurance and asset management to more than 50 countries. ING Direct serves more than 7.5 million customers in the United States.
Company Headquarters:
ING Direct
1 South Orange Street
Wilmington, DE 19801
Website: home.ingdirect.com
Customer service: 1-800-464-3473
Types of Accounts Available
ING Direct offers a number of deposit account options, including savings and checking accounts and CDs.
Savings Accounts
ING Direct currently offers two savings accounts: the Orange Savings Account and Kids Savings Account.
Orange Savings Account
The Orange Savings Account is a high-interest savings account with the following features:
- No fees
- No minimum balance requirements
- Electronically link to current checking account
- ATM/Debit card with access to over 35,000 ATMs
Kids Savings Account
This interest-bearing account is mean to offer children a chance to save money while watching it grow. It comes with the same features as the Orange Savings Account. Kids are allowed to:
- Check their balance
- Change their personal information
- Change their PIN
- Change their account nickname
- Download their account history, tax forms and eStatements
Parents are responsible for making deposits and transferring money.
Checking Accounts
The Electric Orange Checking account is ING Direct’s only checking option. It comes with the following features and requirements:
- Competitive interest rate
- Free MasterCard Debit Card
- Free Online Bill Pay
- Free access at over 35,000 ATMs
- Free postage
- P2P Payments (money is sent electronically)
CDs
The Orange CD is ING Direct’s only certificate option. The FDIC-insured account comes with:
- Early withdrawal option with penalty
- The option to have interest paid month, annually or the end of term
- Automatic renewal
- Wide range of terms
ING Direct’s CD terms are as follows:
- 6 month
- 9 month
- 12 month
- 18 month
- 24 month
- 30 month
- 36 month
- 48 month
- 60 month
ING Direct does not advertise jumbo CDs.
How to Open Account
Opening an account with ING Direct requires visiting the website, clicking the “Open Now” or “Apply Now” option then getting started.
Be prepared to provide the following information:
- Social Security number
- Current address
- E-mail address
- Routing number to transfer funds from current account to Orange account electronically.
Be prepared to have a report from one of the three major credit bureaus pulled to check eligibility.
FDIC Insurance and Coverage
ING Direct is FDIC-insured, meaning all deposit accounts (checking, savings and CDs) are protected by the government. The law requires banks to insure money for up to $250,000 per depositor.
Customer Service
The bank offers customer service assistance via email, phone, the ING Direct Banking App from iTunes or Blackberry and snail mail correspondence.
Security
The Security Zone is available to provide customers with information on how to protect their own accounts against phishing scams and more. Also, the bank offers the Orange Security Guarantee that provides protection against identity theft.
One unique feature of ING Direct is its Cafés located around the country that offers coffee, free Internet access and limited banking access. In addition, the bank offers access to games that can help kids learn how to save money.
