ING Cash: The bank’s new service will start on November 29th

ING is currently informing its customers about a service that will start in the near future. From November 29, 2022, “ING Cash” will give customers the opportunity to make deposits and withdrawals on their current accounts at over 12,000 participating retail partners in Germany.

Retailers include many branches of Rewe, Rossmann, Penny, dm drogerie markt and toom Baumarkt, among others, according to ING. In cooperation with the Berlin-based company viafintech, part of the Paysafe payment platform, customers can withdraw and even deposit cash in retail outlets without having to make a purchase or have a girocard.

The average number of cash withdrawals has decreased compared to the year before the corona pandemic. In 2019, our customers used an ATM 3.7 times a month on average. In the last twelve months it was only 2.4 times on average. Nevertheless, we observe that our customers value the option of being able to withdraw and deposit cash conveniently when making purchases. With our “ING Cash” service, we offer a suitable and largely free solution“, explains Laura Wirtz, Head of Daily Banking & Payments.

The sum of the cash deposits and withdrawals is a maximum of 999.99 euros within 24 hours. With payouts, amounts from ten to 300 euros are possible per transaction. For deposits from 50 to 999.99 euros. Withdrawals are free. Deposits are subject to a bank fee of 1.5% of the deposit amount.

In order to be able to use the service, a checking account and the Banking to Go app are required. The “ING Cash” function and the deposit or withdrawal function are selected in the app. After entering the desired amount, the transaction is authorized in the Banking to Go app. A barcode is then shown on the smartphone display, which is scanned at the checkout. When paying out, the customer receives the amount directly at the cash register. When paying in, the amount is handed over to the cashier. The paid-in or paid-out amount is then immediately taken into account in the account and a push message is sent via the Banking to Go app.

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