ING to offer overseas money transfers

October-14-09


SMH Business Day (AAP)


ING Direct customers will be able to transfer money internationally through a new partnership with online currency trader OzForex.

Holders of ING's new Orange Everyday account could move funds through a 24-hour online platform, which would powered by OzForex.

OzForex chief executive Neil Helm said the partnership supported the increase in financial institutions outsourcing specific services and functions to specialist providers.

"We are delighted to partner with one of the world's most progressive financial services brands," Mr Helm said.

"With globalisation, the need for people to transfer money overseas is becoming an everyday event used by individuals and companies around the world."

One in 10 ING Direct customers said they would use the international money transfer service regularly.

ING Direct chief executive Don Koch said OzForex was a natural partner for his firm.

"The exchange specialist mirrors our principles through its world leading technology, high standards of customer service and competitive rates," Mr Koch said.

"We are very excited to add their proven sophisticated foreign exchange service to the suite of benefits provided through our Orange Everyday account."

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