My German Finances
ING is among the category of famous banks in Germany with 17 awards from 2007 to date. Currently, it is ranked as the best online broker in Germany. Banking with ING allows individual accounts and a joint account as long as you share a common residence. There are two options for getting yourself a free checking account with ING: monthly incoming payments of at least 700 Euros into your account (e.g. salary) OR you are under 28 years of age.
Opening an ING account is free and comes with a Visa Girocard card (0.99€ / month) and it can be done online by sending an application and it takes one week to get your ING checking account ready. There are a number of requirements and steps that your application goes through before your account is ready. With an individual or joint account, you can receive an overdraft facility of €500 after initiating a request, and any amount over €500 later.
The following are the necessary requirements for one to open a current account with ING;
You first have to fill out an online account application and submit it. The next step is to verify your identity in person in the post office using the PostIdent or online through a video call. ING will then send you an encrypted mail with necessary documents and important digits. Once you have received the encrypted email, you will receive access data for telebanking by post and the internet. An iTAN list will later be sent to you by post where you will find your Visa card and Girocard. Finally, your pin for the Girocard will be sent through the post, and at this point consider your account ready to use.
ING has a mobile app that is available both on iOS (Apple Pay) and Android platforms (Google Pay) secure and simple to use during transactions since your payment information is encrypted. Using the mobile app is free of charge and easy to set up both on Google and Apple Pay. The account is programmed to allow photo transfer, account balance alarm, block and manage cards.
With the app, you get a real-time push notification and just in case a third party misuses your access data, the bank compensates for your financial loss.
You are guaranteed safety since your payment information is encrypted.
The apple app allows you to pay with your touch ID while using your iPhone and/or Press a side button on your Apple watch when you hold your phone near the reader.
Different banking institutions charge a fee to deposit money but this service is free at ING ATMs. You can use your Girocard to deposit up to 5000 Euros a day.
ING offers account management through internet banking and it has to undergo authentication via a banking app. Account-holders receive monthly statements by post and their platforms allow direct debits in euros.
They charge an amount fee for their services as scaled below;
