Everyone, who has already a permanently free current account at the ING (formerly ING-DiBa), can immediately use the absolutely free possibility of depositing cash.
Everyone else can ► open the account here and soon take advantage of this and further advantages of the ING.
This is how the deposit works:
The three steps for non-customers of the ING:
- open the account ► www.ing.de/kontoeröffnung
- look for a deposit machine in your proximity ► list of sites
- go with money and Girocard to the machine and make the deposit as shown in the video.
Details about the depositing of money through the ING
Requirements in order to use the free deposit machines of the ING, is being the owner of a current account there. An “Extra-Konto” (call money account), securities account or a credit line are not enough, because you have to insert the Girocard into the machine to make the deposit.
The PIN is not requested. This is a big advantage. In the end, you, being a smart bank customer, would probably rather use the Visa Card, because you can withdraw Euros 50 free of charge at almost every ATM with this card. And who can and wants to remember all the PINs? Especially of cards that you hardly use.
Back to the deposit: You can deposit all Euro-bills from Euros 5 to 500. You can deposit up to a maximum of Euros 1,000 of cash per procedure. If this should not be enough, you can start another deposit procedure.
Coins no, bills yes!
Coins cannot be deposited through the deposit machines, because the machines do not have a compartment for “hard money”. This is highly inefficient. The deposited money is not paid to the next person, as some people think, but it is separately checked afterwards.
The deposited money is gathered in “cassettes” separate from the cash, which is intended for withdrawals.
Coins can be deposited through the branch offices of the Reisebank to the current account – but also to other accounts of the ING. So that the depositing is free of charge for you as a bank customer, you have to add bills to the deposit. The rules of the game are the following:
- up to 50 coins
- deposit amount between Euros 1,000 and 25,000,
then the ING bears the costs of the deposit.
Is this comparable to a Sparkasse or Volksbank?
No, of course not. The Sparkasse and Volksbank still have – even if they retreat more and more from villages and city districts – a high presence in the whole.
However, you have to pay monthly account management fees and increasingly further fees for deposits and withdrawal procedures, sometimes priced with name, sometimes globally as an accounting entry.
If you do not have a current account at the ING yet or alternatively at the competitor DKB, which also operates deposit machines, then you should get one. A current account at one of the best direct banks is permanently free of charge and you will see how it works in the practice with the procedures of electronic payments, deposits and withdrawals.
Only if you refuse to use online banking, then you will not be able to use the advantages of a direct bank. However, the alternative is that you will pay more and more in the future for the presence on site. Even if the statistic is concealed with a number of tricks, the branch banks lose a huge number of customers since years. And the costs increase on the other hand. So how do you fill the gap?
Yes, branch offices are closed and staff is reduced. This is one side of the coin, the side of limiting services. On the other side, fees are increased or introduced. We have seen that in the past years and this trend will continue.
The big direct banks are – and the ING is indeed the biggest direct bank in Germany regarding the total customer number – offering an extended availability and the placement of ATMs.
You being a customer vote with your decision, where you do which bank operations, what will develop further and better.
Let’s get back again to the money deposit
When you deposit money – and do not do it like me on the weekend – you can dispose of it within a few minutes. You can use it immediately to pay a bill online or to settle your account, if you went to far into the overdraft facility.
Where are the deposit machines located?
Questions and experiences?
You are welcome to use the comments feature at the end of this page for your questions about the depositing of money and also to post your experiences for the benefit of following readers. We sometimes refer to especially interesting supplements of articles in our Sunday mail.
A heartly thanks!
Further services of the ING:
- Overdraft facility immediately at account opening – even without incoming salary transfer!
- Apply successfully for a loan at the ING
- Comparison: Open account at the ING or DKB?
Concluding question: Account opening at the ING?
Yes, you can open the free current account of the ING as a secondary or third account and primarily use it for money deposits. This is absolutely compliant with the conditions of the bank. You are not obliged to any further use of the bank.
Free of charge and obliged to nothing!
Of course, the bank would be happy to acquire further customers through the deposit feature, who then make positive experiences with it, and will discover and try more and more services that it offers.
Please let me know, if this articles has been a kickoff for the opening of an account – or if you are already a customers of the bank and like to use this and further features of the account offer. A heartly thanks!