With Automatic Savings, you can easily set up a recurring savings transfer via the ING App or My ING. This is possible on any ING savings account with a variable interest rate. That way, you save a fixed amount automatically at a time that works for you.
Here’s how it works:
Choose your savings account.
Set up your Automatic Savings transfer. You decide the amount and frequency: weekly, monthly, or every six months.
Automatic transfer. The chosen amount is transferred automatically at your preferred time.
Flexibility. You can change or cancel the transfer at any time.
Saving is an investment in your future. Set aside a fixed amount automatically each month, just like your regular expenses. This way, you’ll easily build up a financial buffer.
Choose the right moment. Schedule your automatic transfer at times when you have financial room. For example, right after your salary is deposited and your fixed expenses are paid.
Save realistically. Pick a savings amount that’s manageable for you. If it’s too high, you might end up transferring money back halfway through the month.
Set savings goals. This makes saving more fun and easier to stick to.
With Automatic Savings, you simply set up a recurring transfer of €300 on the 24th of each month to your savings account. After that, you don’t have to think about it anymore.
After one year, you’ll have saved 12 × €300 = €3,600!
Let’s say you want to set aside €50 every week into your savings account.
With Automatic Savings, you simply set up a recurring weekly transfer of €50 to your savings account. After that, you don’t have to think about it anymore.
After one year, you’ll have saved 52 × €50 = €2,600!
Want to change or cancel your Automatic Savings transfer? It’s easy:
Go to ‘Orders’
Under ‘Scheduled’, you’ll find your Automatic Savings transfers. Click on the one you want to change.
You’ll see the options ‘Edit’ and ‘Delete’.
Via the ING App:
You can end up in the red due to rounding if you have an ING Overdraft. Note: the interest on an ING Overdraft is significantly higher than the interest you receive on your savings account. Overdrafts will therefore cost you money. It's sometimes better to transfer the rounding amount back to your current account yourself. If you don't have an ING Overdraft and your account is empty, or you've reached your overdraft limit, we won't debit the rounding amount from your current account. You can read about the costs under "What does an ING verdraft cost?"
Tip: Turn on push notifications in your app and set a limit of €0. That way, you'll know immediately when you're going into the red.
"}},{"componentType":"sectionTitle","title":"Frequently asked questions about Automatic Savings"},{"componentType":"accordion","accordionList":[{"title":"What is Automatic Savings?","richBody":{"value":"Automatic Savings is an ING tool that lets you automatically transfer a fixed amount from your current account to your savings account. You set up the savings transfer once, and it runs on its own.
"}},{"title":"Can I set up Automatic Savings in another way?","richBody":{"value":"Yes, you can. You can easily set up Automatic Savings via the Smart Saving button on the overview page of your Orange Savings Account:
Go to your Orange Savings Account.
Tap on ‘Smart Saving’.
Choose ‘Automatic Savings’.
Select the frequency.
Yes. You can set up multiple transfers and even divide them across different savings goals or pots.
"}},{"title":"Can I change the amount or frequency later?","richBody":{"value":"Yes. You can change or cancel the savings transfer at any time. Want to start again later? That’s possible too.
"}},{"title":"What happens if there’s not enough money in my current account?","richBody":{"value":"If there isn’t enough money in your current account, the savings transfer won’t be executed. You won’t receive a notification, but it will be visible under Tasks.
"}},{"title":"Is Automatic Savings free to use?","richBody":{"value":"Yes. Automatic Savings is free for ING customers.
"}},{"title":"Can I also save automatically for my child?","richBody":{"value":"Yes. You can use Automatic Savings in combination with a Child savings account (Groei Groter Rekening) for your child.
"}},{"title":"I can’t find my automatic savings order. Where can I find the “Orders” button?","richBody":{"value":"You can find the “Orders” button in the overview of your ING App and in My ING under the menu “Orders”. This makes it easy to find your automatic savings orders.
"}}]},{"componentType":"linkList","iconTitle":{"title":"More about"},"textLinks":[{"url":"/particulier/sparen/oranje-spaarrekening","text":"Orange savings account (Oranje Spaarrekening)"},{"url":"/en/personal/savings/savings-goals","text":"Savings goals"},{"url":"/en/personal/savings/round-up-and-save","text":"Round up & Save"}]},{"componentType":"linkList","iconTitle":{"title":"Saving"},"textLinks":[{"url":"/particulier/sparen/niet-meer-te-openen-spaarrekeningen/niet-actieve-spaarproducten","text":"Unavailable savings accounts"},{"url":"/particulier/sparen/meer-dan-sparen","text":"More than just saving"},{"url":"/particulier/sparen/renteberekening-op-je-spaarrekening","text":"Current savings rates"}]}]}}}