ING clients to get P100 rebate for each fund transfer in Dec. 2019 to Jan. 2020

Clients of ING Savings will receive a P100 rebate per transaction until the end of January 2020, the digital lender said Monday.

The bank will shoulder the transfer fees from other banks to ING savings accounts until January 31, 2020, with a maximum of two transactions per month.

“You will receive a fixed rebate of P100 for every successful electronic bank transfer, for up to two transactions per month," said ING.

ING was launched in the Philippines as an all-digital bank in November 2018, with a fully digital account opening process.

“We believe in giving our customers control over their money and freedom to move their funds as they need and wish, especially when most people have money in different bank accounts,” said Mohamed Keraine, head of Retail at ING Philippines.

While ING does not charge transfer fees, other local lenders charge as high as P100 for interbank fund transfers, Keraine noted.

“By offering our clients a rebate on transfer fees, we are removing one of the barriers that hinder them from fully maximizing the benefits of their ING savings account,” he said.

The P100 rebate fee … works alongside a high savings interest rate of 4% per annum for both new and existing ING clients, he added. —Jon Viktor Cabuenas/VDS, GMA News