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ING Pop videos
Discover our new financial education videos. Complex topics simplified and explained in a short and simple format.
Phishing: how to avoid taking the bait?
Play the video: Phishing: how to avoid taking the bait?
"Phishing: how to avoid taking the bait?"
with Christopher
What’s phishing?
Phishing is a form of fraud mainly on the internet where internet hackers usurp a trustworthy organisation’s identity such as banks, insurance companies or institutions in order to extract sensitive information such as confidential data, credit card details and so on which they will wrongly use.
What does it look like?
Phishing could take different forms: by phone, mail, text messaging, via chats...
We can receive an email from an organisation or shop asking us to click on a link to fill in all our information, IDs, credit card details and so on to get an illegitimate refund, for example.
We should bear in mind that either an institution, bank or most shops will never ask you for sensitive information such as your passwords or IDs.
Most of the time, if someone asks you for these information be it by phone, email, message, chances are, it’s fraud.
What are the best practices to avoid taking the bait?
Good question!
When in doubt, get in touch with the organisation immediately to make sure it isn’t fraud and if it turns out to be fraud, take the adequate measures such as blocking your card immediately for banks.
It’s also important to secure your own systems at home such as antivirus and firewall software to make sure you won’t get caught.
To resume, the most important is to remain vigilant when we ask you to share confidential and personal information.
KYC: why does my bank ask a ton of questions?
Play the video: KYC: why does my bank ask a ton of questions?
"KYC: why does my bank ask a ton of questions?"
with Véronique
Why does my bank ask me a lot of questions?
KYC is an English term which means “Know Your Customer”
It is a legal obligation for banks as much as it is for other professionals in financial institutions to know their customers in the best way.
And when we say customer, there are 2 types: individuals and companies.
For individuals, we can ask for their address, civil status, profession, job contracts etc,.
For companies, we could ask for an extract of their commercial register, who their shareholders are etc,.
All of this data is asked to know and understand the client well.
What’s it for?
The aim is to respect legislation to prevent money laundering and the financing of terrorism.
By respecting all these regulations, we ensure the bank’s integrity.
What does the bank expect from its clients?
The banks expect to be informed of any situation change.
We really have to make updates during the entire client relationship.
Clients can inform us through different means. They can either contact us by phone, send us a mail, contact us via My ING or ask us directly by booking an appointment.
What happens if the client doesn’t communicate information on time?
There are often reminders to ask information to clients, if we don’t get the information in time, we may block accounts until the right information is shared.
A blocked account means blocked cards, so the relationship with the client would run more smoothly if we have their correct information.
Communicating any change to us is the most important to allow us to serve you better.
Remaining Due Balance Insurance (RDBI): Should I insure my home loan?
Play the video: RDBI: Should I insure my home loan?
"Remaining Due Balance Insurance (RDBI): Should I insure my home loan?"
with Clémence.
Should I insure my home loan?
What is a Remaining Due Balance Insurance (RDBI)?
A RDBI is a debt balance insurance which allows you to cover your monthly home loan expenses in the case of death or severe injury of the insured.
What are the benefits of subscribing to a RDBI?
The main benefit is to insure the person with whom you are doing the loan hence not having to sell the goods.
In the event of a death or severe injury, the insurance company will pay a part of your loan back in order to reduce your monthly instalments.
The second benefit is tax deduction. You can indeed deduce the cost of this insurance from your tax declaration.
Is it compulsory to get a loan?
A Remaining Due Balance Insurance isn’t compulsory depending on your family, asset and economic situation. In some cases, it is strongly recommended or even required by banking institutions.
How much does it cost?
Its cost depends on different factors: age, sum insured, length of insurance and health.
So if you apply for a home loan, think about Debt Balance Insurance to protect your loved ones.