ING DIRECT is now offering its online banking services to residents of Quebec.

The virtual bank is famous for paying customers more than five times the interest on the savings that they earn from the big banks and the caisses populaires.

“We’re here to empower Quebecers,” said Paul Bedbrook, president and CEO of ING DIRECT. “We empower our customers to earn a level of interest on their savings that they couldn’t otherwise earn. All with no fees and without having to change banks. It’s that simple, it’s that easy.”

ING DIRECT’s approach has made it the ninth largest bank in Canada in only five years, based on individual deposits through 2001. Automatic savings programs, attractive rates and an easy way to do business have resulted in total client savings in Canada of over $5 billion and a customer base of 500,000. At the same time, ING DIRECT has paid out $366,658,082.08 million in interest to its clients since inception in 1997.

“We know that 64% of Quebecers feel the rates they get on their savings aren’t fair” continued Bedbrook, quoting a recent study by Descarie & complices. “And since 25% of Quebecers already bank online or over the telephone, and 45% don’t see the need for branches, we felt the time was right for us to focus on Quebec,” said Bedbrook.

In addition to the Investment Savings Account, ING DIRECT offers GICs, mortgages and a Credit Account – unsecured line of Credit.