First group of mobile users to begin using ING DIRECT's Remote Cheque Deposit feature, Cheque-In

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Oct 11, 2012, 08:00 ET

Bank also launching a new Facebook app that gives Clients read-only access to their accounts

TORONTO, Oct. 11, 2012 /PRNewswire/ - Five hundred mobile users will be the first to try ING DIRECT's new Remote Cheque Deposit feature, an add-on to the bank's existing iPhone app. The Remote Cheque Deposit feature, called Cheque-In™, allows Clients to take a picture of their cheque with an iPhone and have the money directly deposited into their ING DIRECT account. Those invited to participate in the preview will be encouraged to provide online feedback about the features of Cheque-In, a process similar to the way the bank launched THRiVE Chequing™ in 2010.

This unique mobile feature is another example of how the bank is using technology to make banking simpler and more convenient for Canadians. A recent survey commissioned by ING DIRECT found that over half of Canadians (55%) deposit at least one cheque per month to their bank account, either by depositing it in an ABM (71%), bringing it to a branch (41%) or mailing it to their bank (1%). Over a third of Canadians (38%) are open to doing more traditional banking functions using their smartphone; this number jumps to 57% when looking at 18 - 34 years olds exclusively.

"We are excited that many of our clients with iPhones can now benefit from the ability to deposit cheques using their phones. This is yet another proof point of how mobile banking innovation and technology is useful and relevant for Canadians," said Peter Aceto, president and CEO of ING DIRECT Canada. "The Cheque-In process is a safe, reliable way for iPhone users to deposit their cheques quickly, and without the hassle of going to a bank branch or ATM."

Clients previewing the Cheque-In feature will be required to log in to the ING DIRECT mobile app on their iPhone and take a picture of both the front and back of their cheque. The Client will then select which account they would like to deposit the funds to, and enter the full amount written on the cheque before confirming the deposit. Throughout the preview process, and until federal legislation is updated, Cheque-In users will still be required to mail in their cheques within 14 days.

ING DIRECT has also released a new Facebook app that allows Clients read-only access to account balances, account history, pending transactions, alerts and interest rates without having to leave Facebook. The app, which can be found by searching "Orange Snapshot - ING DIRECT" in Facebook's search tab, gives ING DIRECT Clients a secure and relevant way to interact with their bank accounts using the same concepts and features that are available throughout Facebook. All communication between the Facebook app and the ING DIRECT account is secured and encrypted, and no data is stored on Facebook.

"Security in banking is a natural concern for Canadians, particularly when new features and platforms are introduced. Our aim, first and foremost, is to protect our Clients and their money, and we've implemented several features to ensure our Clients' accounts are secure when it comes to mobile and social banking," said Charaka Kithulegoda, ING DIRECT's Chief Information Officer. "We recognize that consumers expect options and choices when it comes to banking, and our new Facebook app is another way we are making managing, tracking and saving money more accessible and convenient."

™THRiVE Chequing is a trademark of ING Bank of Canada.
™Cheque-In is a trademark of ING Bank of Canada.

About ING DIRECT
ING DIRECT is Canada's leading direct bank with over 1.8 million Clients and close to $40 billion in total assets. ING DIRECT is the bright way forward in everyday banking for Canadians, offering value added, simple products such as high interest savings accounts, including TFSAs, GICs and RSPs with no fees or service charges, low rates on mortgages and a no-fee, daily chequing account that actually pays interest. Low cost, index based mutual funds are sold through ING DIRECT Funds Limited. ING DIRECT has been operating in Canada since 1997, and paid more than $5 billion in interest to Clients. ING DIRECT is open for banking 24 hours a day, 7 days a week, at ingdirect.ca, on mobile devices at m.ingdirect.ca or by calling 1-800 ING DIRECT (1-800-464-3473).

About the Survey On June 19, 2012, an online survey was conducted among 1000 randomly selected Canadian adults who are Angus Reid Forum panelists. The margin of error—which measures sampling variability—is +/- 3.1%, 19 times out of 20. The results have been statistically weighted according to the most current education, age, gender and region (and language in Quebec). Census data to ensure a sample representative of the entire adult population of Canada. Discrepancies in or between totals are due to rounding.

Get social with ING DIRECT: Facebook.com/SuperStarSaver; Twitter.com/SuperStarSaver; YouTube.com/SuperStarSaver; superstarsaver.tumblr.com/

Follow Peter Aceto: Twitter.com/CEO_INGDIRECT; Facebook.com/savingsceo; Direct Talk blog at blog.ingdirect.ca

SOURCE ING DIRECT