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ING Direct Offers Read Only PIN Access for Aggregators

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I’ve long been a customer and fan of ING Direct. They were one of the first online banks that offered a high yield savings rate worth worth talking about and they coupled it with the most functional website I’d ever seen. They set the standard for online banking. They were offering you the capability to open up CDs with just a few clicks back when every other bank required you to go into the branch and put pen to paper.

They also started offering something that I think will also become standard – the ability to create a special password that only gives read access to your account. One of the knocks against using a personal finance tools, like Mint.com, is that you have to give them completely access to your account. Those services all have top notch security that has yet to be breached, you’re more likely to get your data stolen when you shop at your local store, but it’s still a concern that stops many people from using those services.

Creating a read only password is easy, just log in and click on My Info in the top navigation bar. There is a special Personal Finance Access Code that has a “Create Code” link, click that. ING Direct will generate a string of numbers and letters that you can use as your password on tools like Mint.com. This means that even if someone were to steal your information off Mint, they wouldn’t be able to do any damage through your ING account (they’d be able to peek inside, but they couldn’t do anything).

I expect this to be standard very soon.

{ 13 comments, please add your thoughts now! }

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13 Responses to “ING Direct Offers Read Only PIN Access for Aggregators”

  1. Matt K says:

    good stuff. i can’t wait until all banks have this. great idea.

  2. cubiclegeoff says:

    I think this is a great idea and glad they did it. I saw the email this morning for it and set it up already.

    • daenyll says:

      Have always been leery of putting passwords into 3rd party sites like Mint, was very reassured when ING first introduced it.

  3. Wayne says:

    Set it up this a.m. and applied it to mint.com. Still not required for yodlee or pageonce.

  4. Greg says:

    Great info and yes it would be great if this would become standard.

    In an unrelated subject, note the teaser ING has on their website about depositing checks becoming a whole lot easier. I’m assuming this has something to do with a remote deposit service. Looking forward to it.

  5. Jeff says:

    This just goes to show how plugged in ING is to their customers and their needs. Like daenyll said above, it is bringing in people that were hesitant about sharing passwords.

  6. javi says:

    Great! I have been waiting for this for a long time. I have always been a little scared of letting third parties have full control of my financial accounts.

  7. zapeta says:

    Brilliant idea! I hope my other banks will do this soon.

  8. Scott says:

    Got the email from ING last night. Confusing at first glance but good stuff once I actually read it. Hope it catches on elsewhere soon.

  9. govenar says:

    I think they’ve had this for a while. I’m not sure why they just sent out an email about it.

  10. Strebkr says:

    I haven’t had a chance to check this out yet, but will I have to do this for my desktop version of Quicken?

  11. skylog says:

    this is an outstanding idea! everyone should do this. sigh, another positive aspect of ING that i fear will get lost in any sale.


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