ING DIRECT Survey: ATM Fees Frustrate Americans More Than Overdraft Bank Fees

Parents With Young Children Hit Hardest By ATM Fees

WILMINGTON, Del., Nov. 12 /PRNewswire/ -- Overdraft bank fees have been public
enemy number one for American consumers, but apparently, there's a new villain
in town: ATM fees. More than a quarter (26 percent) of Americans are more
angry about having to pay ATM fees than they are overdraft fees (24 percent),
according to the latest ING DIRECT USA survey. ING DIRECT, the nation's
largest direct bank, also announced today five easy steps consumers can take
to avoid ATM fees.

The survey says that despite Americans' anger, one in five ATM users (20
percent) are charged a fee at least once a month for using an ATM not
affiliated with their bank's network. Of those, three in five (59 percent)
paid on average $2.00 or more in ATM fees when they withdrew money. On a
withdrawal of $40, which is the median according to the survey, consumers
charged a $2.00 fee about once a month could end up spending more than $1,200
in ATM fees over the next 50 years.

"Losing just a few dollars to ATM fees can quickly add up to hundreds of
dollars during your financial life," said Arkadi Kuhlmann, President of ING
DIRECT USA. "Americans need to know the ways to avoid ATM fees so that using
their money doesn't cost them even more money."

Earlier this year, 94 percent of parents said they are primarily responsible
for educating their children about money(1). Yet some parents appear to be
struggling to lead by example.

-- About 3 in 10 parents (28 percent) who use an ATM incur ATM fees at
least once a month, nearly double that of Americans without children
(16
percent).

-- 60 percent of parents who have been charged an ATM fee were charged
$2.00 or more for these ATM withdrawals.

-- 22 percent of parents with children under six years old who have been
charged an ATM fee are being charged $3.00 or more for these ATM
withdrawals.

Two-thirds (67 percent) of Americans who have been charged an ATM fee blame
banks for "nickel and diming" them while just 33 percent blame themselves for
"poor planning." Yet there are ways to avoid these charges. ING DIRECT,
which offers free access to over 35,000 ATMs through the Allpoint(TM) network,
has developed five tips to help Americans put the squeeze on ATM fees and save
money.

Five Ways To Put The Squeeze On ATM Fees

1. Do the legwork. You're willing to go the extra mile to find a good deal
and save a few bucks, right? Finding a good bank's no different. Online
or on foot, any bank with a surcharge-free ATM network is worth the
extra
steps in our book. They'll save you a significant amount of cash each
month, and you'll have an inside track to the most cost-effective ATM
locations around town.
2. Go ahead and pick "cash back." We all spend way too much time running
back and forth to the grocery or drug store for this, that and the
other.
Next time you're in the checkout line, check out the "cash back"
option.
There's no fee and it's a great way to grab some quick cash without
adding yet another errand to your weekend plans.
3. Cash still rocks harder. So you're on your way to see your favorite
1980's hair band and you find out the parking garage only takes cash.
Now
you're stuck with finding the closest ATM (probably the one with the
heftiest fee) and you're going to miss the opening act. If you carried
more "walking around" money, you'd be in your seat by now flashing
those
mighty rock horns in the name of cash.
4. Don't get "dinged." Sometimes, ATM fees come from different places and
they're always painful. We're talking about the dreaded "terminal
fees,"
"out-of-network" fees and fees some banks charge just for using another
bank's ATM. You can avoid this assault on your wallet by checking with
your bank and finding the closest surcharge-free ATM network - no
matter
where you are.

5. Plan ahead and pay ahead. You can't predict the future, but you can
pretty much guess how much money you're going to need from week to
week.
Make a list, tally up your regular expenses and grab all the cash
you'll
need for the week in one trip to the ATM. The one without the fee, of
course.

The national online survey was conducted within the United States by Harris
Interactive® on behalf of ING DIRECT between October 5 - October 7, 2009 among
2,046 adults age 18+, 1,462 of whom were ATM users. No estimates of
theoretical sampling error can be calculated; a full methodology is available.

(1) This national online survey was conducted within the United States by
Harris Interactive® on behalf of ING DIRECT between April 6-8, 2009 among
2,123 adults age 18+, 535 of whom were parents of children under age 18.

About ING DIRECT
ING DIRECT, the nation's largest direct bank and largest thrift, is dedicated
to inspiring Americans to become a nation of savers. Since its inception in
2000, more than 7.7 million Americans have entrusted their savings with ING
DIRECT, building the bank to $91.4 billion in assets. ING DIRECT has developed
a comprehensive social media Savers Community, including Twitter, Facebook and
its We, The Savers blog. For more information about ING DIRECT call
1-800-ING-DIRECT, and for information about its commitment to financial
education visit Planet Orange.

SOURCE ING DIRECT

Steve O'Halloran, +1-302-467-6643, sohalloran@ingdirect.com