ING Bank to Halt Retail Product Services in the Philippines

ING Bank has announced that it will start to discontinue some of its retail product services in the Philippines as it begins its exit from the country.

Starting 1 September, some of the services that would discontinue will be: 

• Inward fund transfers (InstaPay and PESONet) including QR services

• Fund transfers between ING accounts

• Bill payments

• Debit card services including online, in-store, and ATM transactions plus card issuance

• Mobile check deposit

• ​Bank certificate requests

ING Bank also announced that its mobile app will also be decommissioned by the of the year.

“ING retail customers in the Philippines do not need to do anything now as there is no change to their accounts. They may continue to access and transfer their funds anytime via the app. Their money also remains safe and secure as ING is regulated by Bangko Sentral ng Pilipinas and a member of PDIC,” ING said.

The Dutch banking giant has been present in the Philippines since 1990, serving corporate and institutional clients. It ventured into the retail banking space back in 2018. The bank announced its decision to exit the retail banking market on 24 June.

(Source: Asian Banking and Finance)