A call center employing 80 people is used mostly for telemarketing. ING Direct does not offer checking accounts because they would be too costly, Kuhlmann said. But it pays 5 percent interest on savings accounts, about twice the rate offered by most standard banks. Typical online customers deposit their paycheck in a checking account at their local bank and transfer via Internet what they want saved to ING Direct. Savings can be withdrawn through Internet transfers back to the checking account.
Transactions generally take two business days to clear.
The bank also sells consumer and mortgage loans and certificates of deposit. It's a noisy marketplace. It may be the only bank with stand-alone cafes used just for promotion, but it's not the only bank serving coffee. More and more banks want people to linger and shop, he said. And they want to encourage people to bank online, which saves costs.