ING Belgium launches ‘ING Save Up’ to boost the financial health of its customers: automatic saving upon payment or transfer

Brussels – ING Belgium is fully committed to strengthening the financial health of its customers. With ‘ING Save Up’, the bank is providing its customers with a free, new digital feature that enables them to save automatically when making a bank transfer or payment using a debit card, Apple Pay or Google Pay. Transactions are automatically rounded up to the next euro. The difference goes to the customer’s savings account or that of their child’s. It is also possible to use a savings accelerator and multiply the amount by three.

Sali Salieski, Head of Retail & Private Banking at ING Belgium: “A survey of 5,000 Belgians by Statbel, the Belgian statistics office, informs us that at the end of last year, no fewer than 42% of Belgians found it difficult to make ends meet.¹ A survey, commissioned by ING and conducted by Ipsos, among 1,000 Belgians, shows that six in ten Belgians (58%) want to save more. According to the same source, over four in ten Belgians (43%) expect their bank to help them to put more money aside. With ‘ING Save Up’, we are launching a solution in the market to strengthen the financial health of our customers by giving them the opportunity to save on a structural basis. Think of paying for groceries at the supermarket, your daily cup of coffee or a simple transfer. The rounding up differences of each payment transaction are automatically bundled and saved. It’s really simple and results in a nice savings buffer for the customer or their child.”

Pay €2.40, save up to €1.80 thanks to savings accelerator

A practical example. As soon as the customer has activated ‘ING Save Up’ via the ING Banking app or Home’Bank, rounding up starts the following day at 7 pm. For example, a person buying a cup of coffee and paying €2.40 will automatically save €0.60. By using the savings accelerator, this amount triples to €1.80. The sum of the rounding up of these and other payment transactions will automatically be transferred to the chosen savings account in one go the next day.

ING has already launched ING Save Up in seven countries. This feature is free for all ING customers aged 18 or over.

¹ Statbel: Monitoring of living conditions | Statbel (fgov.be)