ING Direct Breaks £1.5bn Interest Barrier
The direct bank has paid out over £1.5bn in interest since its launch
21st November 2005
Direct bank ING Direct have announced that they have now paid out over £1.5 billion in interest payments to its customers since the UK launch of its savings account in May 2003.
The bank says that its customers have profited to the tune of £500m by investing their savings with ING rather than other accounts paying the lower rates that were the standard before they launched their groundbreaking account.
ING Direct CEO Lindsay Sinclair commented:
"When we arrived in the UK, savers were being offered a raw deal and we introduced some much needed competition. On top of the huge amount of interest our customers have earned through their ING Direct accounts, they haven't had to incur penalties for accessing their money and the same rate has been enjoyed by all our customers."
Read More: ING Direct : Savvy Savers Net £1.5 Billion
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