ING Depositor's Thread




ING brings you the first all-digital savings bank in the Philippines!

✔ Fully digital. No lines. No forms.
✔ 24/7. No banking hours.
✔ High interest rates (2% gross per annum on up to Php 5,000,000; 1% gross per annum on any of the remaining amount over Php 5,000,000)
✔ No minimum balance.
✔ NO FEES! Transfer to any bank via PesoNET.
✔ Mobile check deposit.

40+ countries and 38 million customers.

28 years in the Philippines. 🇵🇭 2017 Best Bank in the World by Global Finance Magazine.

Download the app and open your savings account today! #BranchlessBanking #BankOfTheFuture #INGoodcompany


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Comments

  • SoulExchangeSoulExchange 青春フールパワー ✭✭✭
    Hmm. Looks nice.
    But, does that mean you can only deposit checks (and via fund transfer)?
  • gibsonfangibsonfan Member ✭✭✭✭
    edited November 24
    Interesting. 

    Apart from bank transfer, I wonder pano ang withdrawals. 

    Abroad, marami na ngang all digital banks. 
  • piquanteyepiquanteye Member ✭✭✭✭
    Good bye BPI Odyssey fund? ING Bank is back.
  • piquanteyepiquanteye Member ✭✭✭✭
    ING Direct PH is back? feels so god to be back!
  • piquanteyepiquanteye Member ✭✭✭✭
    edited November 24


    BPI Odyssey Funds UITF

    August 23, 2011 / by Tyrone Solee / in Investments


    BPI Odyssey Funds UITF

    Last March 30, 2011, Bank of the Philippine Islands (BPI) completed the acquisition of Odyssey Funds from ING Bank. As part of the acquisition, Odyssey Funds will now become part of the BPI Asset Management Group.

    Before acquisition, these funds are record holders in the whole portfolio of Unit Investment Trust Fund (UITF) products offered by banks in terms of returns. They registered one of the highest yields as compared to others. However, availability back then is limited as it requires a huge amount of initial capital to be able to start investing in these funds. As far as I remember, they are requiring a minimum of Php 5 million back then. With BPI’s acquisition, these funds will be made affordable even to small time investors.

    Currently, Odyssey Funds are not yet available in all BPI branches nationwide. They are only available to distribution agents such as Citibank and HSBC. However, instead of the lower initial capital, these agents require a much larger initial capital that may not be affordable for some investors. For Citibank, I have inquired that they are requiring a minimum initial investment of Php 100,000 for all peso-denominated Odyssey Funds and USD 2,000 for all dollar-denominated.

    However, the long wait maybe over. I recently talked to a person from BPI Asset Management and Trust Group handling the Odyssey Funds and she said that they are targeting last week of August (which is next week) or first week of September as the official launching of the fund in all BPI branches. When launched, the following minimum initial investment, minimum additional investment, holding period, and entry fees will be implemented:

    Minimum Initial Investment Requirement:

    • All peso-denominated Odyssey Funds have minimum initial investment requirement of P10,000
    • All dollar-denominated Odyssey Funds have minimum initial investment requirement of USD 1,000 EXCEPT
    • Odyssey Asia Pacific High Dividend Equity Fund which has an initial investment requirement of USD 5,000

    Minimum Additional Investment Requirement:

    • All peso-denominated Odyssey Funds have minimum initial investment requirement of P5,000
    • All dollar-denominated Odyssey Funds have minimum initial investment requirement of USD 100 EXCEPT
    • Odyssey Asia Pacific High Dividend Equity Fund which has an initial investment requirement of USD 1,000

    Minimum Holding Periods:

    • All Money Market and Fixed Income PESO-denomiated funds have minimum holding period of 5 days
    • All Balanced and Equity PESO-denominated funds have minimum holding period of 15 days
    • All USD-denomiated funds have minimum holding period of 20 days

    Front-End Loads (Entry Fees)

    • All Money Market Funds have 0.25% entry fees
    • All Fixed Income (Bond) Funds have 1.00% entry fees
    • All Balanced and Equity Funds have 1.50% entry fees

    Notes:

    – In the list above, Peso Cash Management Fund is a Money Market Fund. The next 4 are Bond Funds. The next two are Balanced Funds while the last three are Equity Funds. To know more the difference between these types of funds, you can read my article on mutual funds vs UITFs.

    – Your investment is subject to a 1.00% early redemption fee if redeemed within the holding period stated above in days.

    – Odyssey Funds Pros: Ability to be able to invest in a high yield investment with a minimum capital and with a minimum holding period as compared to other UITF products offered by banks.

    – Odyssey Funds Cons: Each time an investor subscribes to a particular fund, his investment will be charged upfront with the entry fee as stipulated above per fund.

    Moreover, the ideal level of income before redemption should be at least higher than our country’s inflation rate plus the entry fee. That’s how we should fight inflation which degrades the value of our money in terms of its purchasing power.

    Below are the Year-to-Date (YTD) and annualized returns of Odyssey Funds:

     

    From the table of returns above, the Odyssey Philippine High Conviction Equity Fund will surely be the top choice of investors looking for capital appreciation. I will update this article when Odyssey Funds will become available in all BPI branches nationwide. Hopefully, that would be next week. For sure, I will be one of their early investors. 🙂

    UPDATE as of September 15, 2011: All Odyssey Funds are now available at all BPI branches nationwide! You can also invest through BPI Express Online!

    UPDATE as of September 19, 2011: I opened a BPI Odyssey Philippine High Conviction Equity Fund last Friday, September 16, 2011. Since I placed it after their cut-off time which is 11:30am, the NAVPU used in buying my initial investment was for the next banking day which is Monday, September 19, 2011. The 1.5% entry fee will be deducted separately from your settlement account.

    For example, if you decided to invest the P10,000 minimum initial investment, the whole P10,000 will be used in buying the NAVPU. The P150 entry fee will be deducted separately from your settlement account.

    Tags:investUITFs



  • piquanteyepiquanteye Member ✭✭✭✭
    edited November 24
    Never seen any news that ING Direct Philippines is back. I am not sure if this new ING app is fake? BPI already completed acquisition of ING Retail Banking and PrulifeUK completed acquiring ING Life before. Only Wholesale or corporate banking is active here in PH. The ING Odyssey UITFs were acquired by BPI AMTG years ago.

    So the question is, why is ING Bank and ING Group engage again in PH Retail banking? Why did they release an app? Retail bank branch were already closed years back. Only the ING Shared services at BGC is operational and the corporate banking at Ayala Tower Makati.  Why oh why? I thought ING Retail is already BPI?

    Is ING Bank emulating Maybank Philippines? or is ING Group on the lookout of acquiring an existing falling PH retail bank?

    Also, is there a big chance that the UK Bank Standard Chartered goes back Retail banking operations? I am not entirely sure if Eastwest Bank will agree? hahaha
  • piquanteyepiquanteye Member ✭✭✭✭
    official ING Philippines website ->>> https://www.ing.com/Philippines-1.htm

  • piquanteyepiquanteye Member ✭✭✭✭

    #howitsmade: new bank cards in the Netherlands and Belgium



  • piquanteyepiquanteye Member ✭✭✭✭
    edited November 24
    Why is this ing.com.ph? I beleive that is not the global standard web address format of ING?Why is the address located at ING GSO BGC? Information do not match with the app.Hmm something is phishing? #BlackHats?



  • piquanteyepiquanteye Member ✭✭✭✭
    edited November 24
    The ING Ph facebook site was just created recently. Hmmm.. Is Bangko Sentral ng Pilipinas monitoring this? This is a serious financial crime if proven fake.
    BSP can trace IP Adresses? Google can also monitor the app? I mean if ever a hacker was serious about this grand fakeness he/she must be accountable to a financial and legal battle? And be prepared to die? Hahaha .
    ING Asia Retail banking is long dead. 10 feet below the ground.

    ING Retail Bank operations in SG, MY, IN, ID and etc do not exist????

    No official statement or news from ING worldwide about this retail banking ops in PH??
  • iam_moonwillowiam_moonwillow wanderlust ✭✭
    Learned about this from a friend’s fb post. She works at ING. So I guess legit to..
  • IronHandofJusticeIronHandofJustice Member ✭✭✭✭
    Nag open na ako ng account. 1-2 banking days ang approval. I will let you guys know kung OK.
  • SoulExchangeSoulExchange 青春フールパワー ✭✭✭
    May naka-link na account sa mobile number ko. Tinry ko mag-register kanina pero di ko muna tinuloy.
    Binasa ko ng konti yung terms and conditions nila at may nakita akong ganito



  • IronHandofJusticeIronHandofJustice Member ✭✭✭✭
    Maganda dito mag save kasi mataas ang interest.
  • piquanteyepiquanteye Member ✭✭✭✭
    edited November 25
    This can be tricky..  I will be on the look out about this because a lot of apps on Google play looks legit so doble ingat sa pagsignup at mag create ng account. Even the new SSS app looks legit but it is not working properly.
  • piquanteyepiquanteye Member ✭✭✭✭
    edited November 25
    But if ING Direct is serious about retail banking then it is the right time to release the ING PH Orange Credit Cards. Hehe..

    But it is still preferred if ING Bank can take over Metrobank Group operations? And relive ING Life? You will not be putting a Metrobank check image there without any reason right?
  • Nung una, hello Cimb, ngayon, Hello ING!

    Maybe the ATM will only be offered if a number of people opened their accounts with them.

    I might open too, pero will wait muna sa mga feedback ..

  • gibsonfangibsonfan Member ✭✭✭✭
    Feel ko legit naman if aandar ang PesoNet transactions between other banks. Will wait for feedback. 

    Yung app store reviews medyo generic though haha
  • SoulExchangeSoulExchange 青春フールパワー ✭✭✭
    ^Actually. Kaya tinigil ko muna yung registration eh. :lol:
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