General Information on ING Belgium Remote Financial Investment Products
July 2014 version
This document is intended to provide you with the commercial information stipulated by law on taking up financial investment products via ING Belgium’s
electronic channels (ING website, ING Mobile website, Self’Bank, Home’Bank/Business’Bank, Phone’Bank or Smart Banking).
1. General Information
2. Main characteristics of financial investment products
3. Risks inherent in financial investment products
See in point 12 below the “Table of main risks linked to the various categories of financial investment products” setting out the main risks linked to
financial investment products based on the category in question.
4. Cost of financial investment products
5. Tax aspects
6. Languages used in your relationship with ING Belgium
7. Specific right to waive/cancel the remote financial investment agreement
8. (Additional) right to cancel the financial investment agreement
9. Questions, complaints and disputes
10.
Governing Law and Jurisdiction
11.
Code of conduct and competent bodies
12.
Table of main risks linked to the various categories of financial investment products
1. General Information Financial investment products (except branch 21 and branch 23 insurance products) are offered by:
ING Belgium SA/NV
Bank
Registered office: avenue Marnix/Marnixlaan 24, 1000 Brussels, Belgium
Brussels RPM/RPR - VAT BE 0403.200.393 - Tel. + 32 2 547 21 11 - Internet: www.ing.be - e-mail: info@ing.be - BIC: BBRUBEBB IBAN: BE45 3109 1560 2789
hereinafter referred to as “ING Belgium”;
and in the event of subscription via Phone’Bank:
ING Contact Centre Belgium SA/NV
Banking service and investment agent registered with the FSMA under number 038392 B for ING Belgium SA/NV.
Registered office: avenue Marnix/Marnixlaan 24, 1000 Brussels, Belgium
Postal address: Gaston Crommenlaan 8-14 blok C, 9050 Ledeberg
Brussels RPM/RPR - VAT BE 0452.936.946 - Tel. + 32 2 464 60 02 - Fax + 32 2 464 66 73
BIC: BBRUBEBB - IBAN. BE49 3101 1998 7571
Branch 21 and 23 life insurance is offered by:
Insurance company
ING Life Belgium SA/NV
An insurance company accredited by the NBB/FSMA under number 2550.
(Registered) Office in Brussels: Cours Saint-Michel/Sint-Michielswarande 70, B-1040 Brussels, Belgium - Tel: +32 2 738 56 66 - Brussels RPM/RPR - VAT
BE 0890.270.057 www.ing.be -: info-insurance@ing.be BIC: BBRUBEBB - IBAN: BE28 3100 7627 4220
Insurance intermediary
ING Belgium SA/NV
Insurance broker, registered with the FSMA under code number 12381A.
Registered office: Avenue Marnix/Marnixlaan 24, B-1000 Brussels - www.ing.be - Brussels RPM/RPR - VAT BE 0403.200.393. - BIC:
BBRUBEBB - IBAN: BE45 3109 1560 2789
hereinafter referred to as “ING Belgium”;
and in the event of subscription via Phone’Bank:
Insurance intermediary
ING Contact Centre Belgium SA/NV
Sub-agent for ING Belgium, registered with the FSMA under number 38392A
Registered office: avenue Marnix /Marnixlaan 24, 1000 Brussels, Belgium
Postal address: Gaston Crommenlaan 8-14 blok C, 9050 Ledeberg
Brussels RPM/RPR - VAT BE 0452.936.946 - Tel. + 32 2 464 60 02 - Fax + 32 2 464 66 73
BIC: BBRUBEBB - IBAN: BE49 3101 1998 7571
2. Main features of financial investment products
a. The financial investment products for which you can, subject to acceptance by ING Belgium and to mutual agreement, enter into an agreement,
place orders and/or carry out transactions (purchases, sales, subscriptions, transfers and account entries) using the ING Belgium website
(www.ing.be), the ING Belgium mobile website (MyING.be), Home’Bank/Business’Bank (PC transactions), Phone’Bank (phone transactions)/ING
Belgium Smart Banking (mobile transactions) and/or Self’Bank are as follows:
-
Shares: a share is a certificate of ownership representing a portion of the capital of the company issuing it. A share may entitle its
holder to a dividend and a voting right. Shares may be listed, but this is not obligatory.
-
Bonds: a bond is a debt security issued by a company, by the government or by another public authority. The date and price for
bond redemptions are determined in advance, and bonds generate interest.
-
Reverse Convertible Notes: A Reverse Convertible Note is a debt security issued by a company which may, at the issuer’s option,
be redeemed in shares of another company in accordance with the terms and conditions set out in the issue prospectus.
-
Regulated savings accounts (RD 27/08/1993, 01/07/2006, 07/12/2008 and 21/09/2013): a regulated savings account is a savings
account in EUR, governed by the provisions of Article 21.5 of the Income Tax Code and Article 2 of the Royal Decree dated
27 August 1993 implementing that Code, amended by the Royal Decrees dated 1 July 2006, 7 December 2008 and 21
September 2013 (subject to any subsequent modifying provisions). The basic interest rate and the rate of any fidelity premium
depend specifically on the savings account being opened online (via the ING Belgium website) or via other ING Belgium channels.
Funds are always available to customers. You benefit from an exemption from withholding tax (15% on the date of publication of
this document) for regulated savings accounts up to EUR 1,900 in interest (per taxpayer for the 2015 tax year - 2014 income).
The online savings accounts offered by ING Belgium are ING Lion Premium Savings Account and ING Lion Deposit. These savings
accounts are free of charge and reserved for adult private individuals who have a legal address in Belgium and have a valid e-mail
address. You can open an ING Lion Deposit or an ING Lion Premium Savings Account even if you do not have a current account
with ING Belgium. The traditional savings accounts offered by ING Belgium are the ING Green Savings Account and the ING
Orange Savings Account.
-
Unregulated savings accounts: an unregulated savings account is a savings account in EUR which is not governed by the
provisions of Article 21.5 of the Income Tax Code and Article 2 of the Royal Decree dated 27 August 1993 implementing that
Code, amended by the Royal Decrees dated 1 July 2006, 7 December 2008 and 21 September 2013 (subject to any subsequent
modifying provisions). The interest (basic interest and any premiums) payable is therefore subject to withholding tax (25% on the
date of publication of this document). The funds are always available to the customer.
The ING Fidelity Account is the unregulated account.
-
Term accounts: a term account (or a term deposit) is a sum blocked in a bank account, earning interest expressed as a fixed annual
gross rate. The duration of the blocked period is stipulated when concluding the initial agreement (it can range from one day to 10
years). The minimum capital is EUR 1000. The interest is subject to withholding tax (25% on the date of publication of this
document).
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Citizen’s Thematic Lending: an ING Citizen’s Thematic Lending is a term account offering a fixed annual gross rate, for a defined
period expressed as a whole number of years between five and 10 years inclusive, and is only offered to private individuals. The
minimum capital is EUR 200. Term deposits are opened pursuant to the law of 26/12/2013 on thematic citizen lending and the
provisions of this law that are applicable to them. The interest is subject to withholding tax (15% on the date of publication of this
document). Early closure prior to the expiration of the legal term of five years is not possible.
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Certificates of deposit: a certificate of deposit is an interest-bearing debt security issued by a bank for a defined period.
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SICAVs: “Sicav” stands for Société d’Investissement à Capital Variable (open-ended investment company). This is a collective
investment undertaking (CIU) (mutual fund) whose exclusive goal is investment via financial investments whose capital increases
or decreases as investors subscribe to, or redeem, shares. Sicavs exist which invest in equities, bonds, as well as mixed Sicavs or
money market Sicavs, with or without capital protection.
-
Star Fund pension savings plan:
The Star Fund pension savings plan is a long-term savings product that is tax-deductible in Belgium under certain conditions. It is a
mutual fund investing in Belgian and international shares, bonds and cash instruments. The sums allocated to buying fund units
may be tax-deductible in the year of purchase. There is a EUR 950 ceiling (index-linked and subject to increase) on the tax break
for 2014 income (2015 tax year).
The Star Fund pension savings plan is a collective investment undertaking (CIU) managed entirely in the interests of its
shareholders with the sole aim of investing in financial products. Its capital increases and decreases as shareholders enter or
leave the CIU. Amounts invested in CIUs are not covered by the Protection Fund for Deposits and Financial Instruments.
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Options and warrants: derivatives cover four main groups (forwards and futures, swaps, options and warrants). These instruments
for managing financial risks are used either to hedge four types of risk (market, liquidity, counterparty and investment policy), or for
speculative ends. They are traded either over the counter or on stock exchanges (regulated markets).
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Option plans: option plans are plans relating to options implemented by companies in favour of some of their members of staff.
-
Structured notes: structured notes are debt securities usually issued by financial institutions; they have a return that may vary and
use a combination of complex financial techniques - for instance, to generate a return linked to a share index or an interest rate and may also offer capital protection. They are always offered for a defined time period.
-
Securities account: the securities account is a specific account in which financial instruments are held. Securities accounts can only
be opened by the holder(s) of a current account. The securities account is governed by ING Belgium’s Special Regulations for
Trading in Financial Instruments (hereafter referred to as “SRTFI”).
-
Savings and Investment insurance:
ING Belgium operates as an insurance intermediary for certain Savings and Investment insurance products, in particular:
•
Savings insurance: branch 21 and 26 life insurance with a savings component. This life insurance offers a capital
guarantee and a guaranteed rate of return. The insurance company guarantees, therefore, that the investor’s net premiums
will be reimbursed at the end of the policy.
•
Investment insurance: branch 23 life insurance linked to an investment fund, which may be invested in equities or
bonds, whether mixed or money-market. They may also, in some cases, benefit from protection of the capital invested
and/or be a combination of Savings insurance and Investment insurance.
However, all the financial investments mentioned above are not necessarily offered via all ING Belgium’s electronic channels (ING Belgium
website (www.ing.be), ING Belgium mobile website (MyING.be), Home’Bank/Business’Bank, Phone’Bank, Self’Bank or Smart Banking).
Please consult the table below (table summarising the main risks linked to financial investment products depending on the category concerned) to
see the financial investment categories offered for each electronic channel.
b. The specific features of financial investment products - other than Savings and Investment insurance - you take up (nature, quantity, currency, etc.)
will be outlined in the details sent before the transaction is carried out if using the ING Belgium website (www.ing.be) or ING Belgium’s
Home’Bank/Business’Bank, Smart Banking or Self’Bank of ING Belgium facilities. In addition, they will be outlined in the account statement sent
after the transaction is carried out if using the ING Belgium website or ING Belgium’s Phone’Bank, Home’Bank/Business’Bank, Smart Banking or
Self’Bank facilities.
The specific features of Savings and Investment insurance are communicated prior to subscription on the product sheets and are moreover included
in the insurance policy issued by the insurer in question following subscription. The general terms and conditions applicable to the insurance
concerned are available in Home’Bank/Business’Bank, on ING Belgium’s website (www.ing.be), and from ING Belgium branches.
c. The financial investment products - except for savings accounts and term accounts - which you make, as well as any relations concerning
transactions carried out with regard to said investments, are subject to ING Belgium’s General Trading Regulations (GTR) (including the appended
general terms and conditions for the Phone’Bank, Home’Bank/Business’Bank and Smart Banking services) and ING Belgium’s Special Regulations
for Trading in Financial Instruments (hereinafter referred to as SRTFI), to which the “Best Execution of Orders Policy of ING Belgium” are
appended, as well as a brief description of the conflict of interests policy. These regulations and their appendices are available in
Home’Bank/Business’Bank (at the bottom of each screen), on the ING Belgium website (www.ing.be) and from ING Belgium branches. For
financial products other than Savings and Investment insurance, the prospectus, the simplified prospectus or the Key Investor Information
Document (KIID) and latest periodical report for each Sicav and for the Star Fund pension savings plan offered by ING Belgium can be obtained in
French and in Dutch via Home’Bank/Business’Bank, on the ING Belgium website (www.ing.be) and from ING Belgium branches.
Savings accounts and term accounts opened by you, as well as any relations concerning transactions carried out with regard to said accounts, are subject to ING
Belgium’s General Trading Regulations (GTR) (including the appended general terms and conditions for the Phone’Bank, Home’Bank/Business’Bank and
Smart Banking services) and the special conditions applying to the account in question (Regulations for the Green Savings Account, ING Orange Savings Account,
ING Lion Premium Savings Account and ING Lion Deposit , ING Term account, ING Fidelity Account, ING Citizen’s Thematic Lending, etc.). These
regulations and their appendices are available from Home’Bank/Business’Bank, Smart Banking, on the ING Belgium website (www.ing.be), on the mobile
website (MyING.be) and from ING Belgium branches. The “key investor information document” relating to each ING savings account in question is available in
Home’Bank/Business’Bank, on Smart Banking, on the ING Belgium website (www.ing.be), on the mobile website (MyING.be) and from ING Belgium branches.
3. Risks inherent to financial investment products
Any financial investment product entails risks that vary depending on the nature, term, currency, issuer, etc. of the investment. The main risks are listed in
the table on page 12. Unless explicitly specified in writing by ING Belgium (e.g. for certificates of deposit or term accounts), neither the capital nor return on
investment is guaranteed. The value of an investment and the income it generates are dependent upon fluctuations in financial markets, over which ING
Belgium has no significant influence. They may go down as well as up and investors may not recoup their initial outlay if the markets concerned are adversely
affected. Past results do not in any way guarantee future performance.
To minimise investors’ risks, the onus is on investors to diversify their portfolios by investment horizon, sector of activity, geographical area, currency,
etc. Investors must also be aware that the risks linked to a strategy based on the simultaneous carrying out of several financial investments are just as real as those
entailed by the carrying out of just one of these investments.
If investors decide to carry out a financial transaction with ING Belgium they do so after having thoroughly thought this through and having ensured that their
financial resources guarantee that they can cope with any risk of losses mentioned above.
Investors are recommended to keep abreast of developments in the markets in question.
Investors may, if they wish, obtain relevant information from their ING branch or the ING Contact Centre (tel.: 02 464 60 04) before making an
investment so as to ensure in particular that it matches their investor profile, or for any tax matters relating to the investment.
Please refer in point 12 below to the “Table of main risks linked to the various categories of financial investment products” setting out the main risks linked to
financial investment products based on the category in question.
4. Cost/premium of financial investment products
When carrying out any transaction, in the context of a financial investment other than Savings and Investment insurance, the total cost (the investment amount and
any commissions, charges and relevant taxes and duties) and, where applicable, any interest, are shown on the details sent before the transaction is carried out if
using the ING Belgium website or the ING Belgium mobile website, Home’Bank/Business’Bank, Smart Banking or Self’Bank services. In addition, they are
mentioned in the account statements sent after the transaction is carried out if using the ING Belgium website or the ING Belgium mobile website or ING Belgium’s
Phone’Bank, Home’Bank/Business’Bank, Smart Banking or Self’Bank services.
The pricing policy for financial investment products offered by ING Belgium, as specified in the brochures relating to charges and interest rates in force (in particular,
the “Charges applied to the main securities transactions” brochure), is applicable to all transactions carried out via ING Belgium’s electronic channels (ING Belgium
website, ING Belgium mobile website, Self’Bank, Home’Bank/Business’Bank, Smart Banking or Phone’Bank). The latest versions of said pricing brochures are
available (in PDF format) on the ING Belgium website (www.ing.be: “Products” - “Savings and Investments” - “Charges”), on Home’Bank/Business’Bank (“Info
Menu” - “Pricing policy”) and from ING Belgium branches.
Prior to taking out a Savings and Investment insurance policy, the premium (including the subscription-related costs as well as the taxes and duties relating to it) is
communicated on the product sheets available on the ING Belgium website, the ING Belgium mobile website or via the Home’Bank/Business’Bank, Smart Banking
or Self’Bank services. It is moreover included in the specific terms and conditions drawn up by the insurer in question at the time of subscription. However, when the
exact cost of a financial investment product cannot be indicated ING Bel gium will send you the basis for calculating the cost so that you can check this
amount. Furthermore, as regards financial investment products whose prices are dependent upon fluctuations in the financial markets - over which the bank has no
significant influence - (namely equities, bonds, Sicavs, the Star Fund pension savings plan, options, warrants, structured notes, etc.), the cost indicated prior
to the execution of the transaction is given merely for information.
The cost/premium of the financial investment product is paid for by debiting or crediting the account of your choice at the time of the transaction relating to the
financial investment product concerned. The account must have a sufficient credit balance to cover the transaction.
Apart from the total cost/premium of the financial investment product as set out above and the usual cost of your internet connection, which depends on your
internet service provider, or of the phone call or other methods, you will not have to pay any extra charges for using the ING Belgium website, the ING Belgium
mobile website or the Home’Bank/Business’Bank, Phone’Bank, Smart Banking or Self’Bank services (apart from the annual subscription fee for one or other of
these services which may be applicable in line with the pricing brochures).
5. Tax aspects
Even though information is available on the ING Belgium website or the ING Belgium mobile website or ING Belgium’s Phone’Bank, Home’Bank/Business’Bank,
Smart Banking or Self’Bank services, it is advisable to have this point examined by a tax adviser in light of your financial situation. You must, in addition, bear in mind
the legal obligations in terms of declaring an inheritance.
However, there is a risk of the gains on some contracts being considered by the tax authorities as taxable income insofar as they originate from contracts which are not
part of the normal prudent management of a private asset base.
Concerning financial products other than certificates of deposit, accounts and Savings and Investment insurance:
In principle, a capital gain from a security made by a private individual is not taxable.
However, there is a risk of the gains on some contracts being considered by the tax authorities as taxable income insofar as they originate from contracts which are not
part of the normal prudent management of a private asset base.
Concerning Savings and Investment insurance:
The treatment of each insurance product is dependent on its nature and is described in the product sheets made available prior to subscription on the ING Belgium
website or the ING Belgium mobile website or via ING Belgium’s Phone’Bank, Home’Bank/Business’Bank, Smart Banking or Self’Bank services.
6. Languages used in your relationship with ING Belgium
This general information, ING Belgium’s General Trading Regulations (GTR), the SRTIF and the fees, subscription forms and contracts are available in French,
Dutch and English in any ING Belgium branch as well as via the ING Belgium website, or the Home’Bank/Business’Bank or Phone’Bank services.
Certain subscription forms and contracts are available in French, Dutch and English via Self’Bank, Smart Banking or on the website in electronic format. Certain
documents, subscription forms and contracts are also available in German in ING Belgium branches and via the electronic channels mentioned above.
For the duration of the agreement, ING will communicate with you in the language that you chose (French, Dutch, German or English) at the start of your
relationship with ING or subsequently, if applicable.
However, if you contact a branch, ING Belgium can only commit to communicating with you, throughout the duration of the agreement, in (one of) the language(s)
of the municipality in which the branch in question is located (French, Dutch or German).
7. Specific right to waive/cancel the remote financial investment agreement
a. Waiver right for certificates of deposit, regulated savings accounts, unregulated savings accounts, term accounts, Citizen’s Thematic Lending and Star Fund
pension savings plan
Within a timeframe of fourteen (14) calendar days as from the day the contract is concluded or as from the day when you receive the contractual conditions and
pre- contractual information (including this document), if this is after the day on which the contract is concluded, you are entitled to exercise your right of waiver
without paying any penalties or substantiating your decision, for certificates of deposit, regulated savings accounts, unregulated savings accounts, term accounts
and the Citizen’s Thematic Lending subscribed to remotely, as well as the Star Fund pension savings plan subscribed to via the Phone’Bank services. The period
shall be considered to have been observed if the waiver notification was sent before its expiry.
If you exercise your right of waiver or cancellation when execution of the remotely agreed transaction has already begun, at your request, before
waiver/cancellation, ING Belgium will return to you, as quickly as possible and at the latest within 30 calendar days of your notice of waiver or cancellation being
sent, any sums received from you within the scope of the remote agreement concerning the financial investment product, after deduction of the sums allocated
to covering the services already performed by ING Belgium in the period prior to the effective date of the waiver or cancellation of the remotely agreed transaction.
In addition, you must return to ING Belgium, as soon as possible, and at the latest within 30 calendar days of the date on which your notice of waiver or cancellation
was sent, any sum and/or securities received from ING Belgium under the remote transaction relating to the financial investment product concerned.
b. Exercising the right to waive/cancel for certificates of deposit, regulated savings accounts, unregulated savings accounts, term accounts and the Star Fund pension
savings plan.
To exercise this right to waive or cancel, please send a letter to:
ING Contact Centre SA/NV
FAO Savings & Investments Dep.
Gaston Crommenlaan 8-14 blok C
9050 Ledeberg
c. Cancellation right for Savings and Investment insurance
With regard to Savings and Investment insurance policies, both you and ING Life Belgium have a period of thirty (30) calendar days to cancel the policy, with no
penalty or obligation to give any reasons.
The period during which the cancellation right may be exercised starts to run from when:
-
you are informed by ING Life Belgium that the insurance policy has been concluded;
or, if the day is after the date mentioned at dash one, as from the day when you receive the contractual conditions and pre-contractual
information.
Cancellation by you as the policyholder takes effect immediately upon notification, whereas cancellation by ING Life Belgium takes effect eight days after
notification.
When you cancel a Savings and Investment insurance policy as the policyholder, or when it is cancelled by ING Life Belgium and the performance of the remotely
agreed policy had already begun, at your request, before cancellation of the policy, you must pay the premiums on a pro-rata basis for the period during which
cover had been granted under the insurance policy. These sums, which are allocated to cover the risk during the period prior to the cancellation of the life
insurance policy taking effect, represent consideration for services actually rendered by ING Life Belgium, from the date of taking out the policy until the
cancellation date.
When you cancel a Savings and Investment insurance policy, as the policyholder, or if it is cancelled by ING Life Belgium, ING Life Belgium will return to you,
as soon as possible, and at the latest within 30 calendar days of your notice of waiver or cancellation being sent, any sums received from you within the scope
of the life insurance policy concerned, after deduction of the consideration mentioned previously for services already rendered by ING Life Belgium. This time
period begins to run:
- if you cancel the life insurance policy, as from the day when ING Life Belgium receives notification of cancellation by registered letter;
- if ING Life Belgium cancels the life insurance policy, as from the day when ING Life Belgium sends the notification of cancellation by registered letter.
When a Savings and Investment insurance policy is cancelled for any reason whatsoever by either party, the premiums paid relating to the period of insurance after the
date the cancellation takes effect are reimbursed within the previously mentioned timeframe by ING Life Belgium.
d. Exercising the right to waive/cancel the Savings and Investment insurance policy
To exercise this right to waive or cancel, please send a letter to:
ING Life Belgium
cours Saint-Michel/ Sint-Michielswarande 70
B-1040 Brussels
e. Absence of a right to waive or cancel
This right of waiver or cancellation at no cost does not apply to the following financial investment products:
- shares
- bonds
- SICAVs
- the Star Fund pension savings plan (except in the event of subscription via Phone’Bank);
- options
- warrants
- structured notes
- option plans
Even if you do not have the right to cancel, you will still be able to sell or transfer your financial investment product prior to any maturity, provided that its
characteristics allow this, subject to market conditions and upon payment of any relevant fees, charges, duties and taxes (see the point below “Financial Investment
Agreement Cancellation Right”). Such a sale or transfer may generate a loss.
8. (Additional) right to cancel the financial investment agreement
Once an order has been placed on the market you can no longer waive the order.
However, where their characteristics permit, the financial investment products you have taken up may be sold or transferred subject to market conditions and
upon payment of the relevant fees, charges, duties and taxes in effect.
Branch 21 and 23 life insurance policies are of indefinite duration or are fixed-term policies with a minimum duration that varies depending on the insurance concerned.
After the period of 30 days mentioned in the point “Specific right to waive/cancel the remote financial investment agreement” above, branch 21 life insurance
policies may not be cancelled, but may, depending on the insurance in question, be surrendered or reduced.
Branch 23 life insurance policies cannot be cancelled, but may be surrendered or reduced depending on the insurance concerned.
Please refer to the agreement and the general and any special conditions of the insurance concerned, which were sent before the policy was concluded if using
the ING Belgium website, or the Home’Bank/Business’Bank, Smart Banking or Self’Bank services or after the policy was concluded if using Phone’Bank, with
regard to any minimum period of the agreement, options for cancelling, reducing or surrendering the agreement, and any cancellation, reduction or surrender
penalties due.
9. Questions, complaints and disputes
You can send your comments, questions and complaints to ING Belgium online using the Home’Bank/Business’Bank messaging service
(Services/Messaging/Send menu) or via the ING Belgium website (www.ing.be: “Contact”).
Any complaints relating to the remote agreement for financial investment products must be addressed to your ING branch as soon as possible and at the latest within
60 days from the date of the transaction in question (to be marked “ING Belgium” and with the full address of the branch), or sent by post to the following address:
ING Belgium SA/NV
Customer Service
Cours Saint Michel/Sint-Michielswarande, 60
B-1040 Brussels
In your correspondence, you must ensure that you indicate your account number or contract number and, where appropriate, the references allocated by ING
Belgium to the subject of the complaint.
If you are not satisfied with the handling of your complaint by ING Belgium, you can submit a complaint free of charge to the Ombudsman Service for Banks Lending - Investments (Rue Belliard/Belliardstraat 15-17, Box 8, B-1040 Brussels - Ombudsman@Ombudsfin.be - see www.ombudsfin.be for more information),
without this affecting your right to take legal action.
For complaints relating to branch 21 and branch 23 life insurance policies, you can contact:
ING Customer Service, Cours Saint Michel/Sint-Michielswarande 60, B-1040 Brussels, Fax: 02 547 83 20 or 02 547 78 90 E-mail: plaintes@ing.be;
Financial Services and Markets Authority (FSMA), rue du Congrès/Congresstaat 12-14, B-1000 Brussels;
ASBL Insurance Ombudsman’s Department, square de Meeûs/de Meeûssquare 35, B-1000 Brussels - Tel.: +32 (2) 547 58 71; fax: +32 (2) 547 59 75 info@ombudsman.as - www.ombudsman.as. Complaints must be submitted in writing.
Filing a complaint does not affect your ability to take legal action.
10. Governing Law and Jurisdiction
Apart from cases where the applicable law is determined by statutory or regulatory provisions, or mandatory or public policy provisions, Belgian law (in particular,
as applicable, the law of 6 April 2010 on market practices and consumer protection and the law of 11 March 2003 on certain legal aspects of the services of the
information society) shall apply to every dispute regarding your relations with ING Belgium before the conclusion of the remote agreement regarding a financial
investment as well as to any dispute regarding your relations with ING Belgium concerning the conclusion, application, interpretation, execution or dissolution of
the policy.
Apart from cases where the competent courts are determined by statutory or regulatory provisions, or mandatory or public policy provisions, ING Belgium reserves
the right, whether as plaintiff or as defendant, to bring any disputes concerning its business relationships with you before the courts of Brussels or, alternatively,
the courts having jurisdiction over the location of the head office with which the business relationship is maintained, either directly or indirectly through a subsidiary
or a branch of ING.
However, if you are a policyholder acting as a private individual in the context of an objective which is unrelated to your professional, commercial or craftbased activities, the Justice of the Peace, the Court of First Instance or the Commercial Court relating to your domicile is the only body which can act, in line
with the provisions of the Judicial Code, to hear disputes relating to your contractual relations with ING Life Belgium, whether ING Life Belgium is the
plaintiff or the defendant, except where the competent courts are designated by legal or regulatory provisions, or mandatory or public policy provisions.
11. Code of conduct and competent bodies
The supervisory authorities of ING Belgium, as a credit institution and insurance broker, are:
- the National Bank of Belgium, Boulevard de Berlaimont/Berlaimontlaan 14, B-1000 Brussels, Belgium - Tel. +32 2 221 21 11 - www.bnb.be - info@nbb.be
- the Financial Services and Markets Authority (FSMA), rue du Congrès/Congresstraat 12-14, B-1000 Brussels, Belgium - Tel. +32(0)2 220 52 11 - Fax +32(0)2
220 52 75 - www.fsma.be - consumenten@fsma.be
ING Belgium adheres to the following codes of conduct:
Code of conduct of the Association of Belgian Banks, available at www.ing.be;
Rules of conduct for insurance intermediaries of the Trade association of insurance companies, available at www.assuralia.be;
Code of conduct relating to electronic trading of the Federation of Belgian Companies, available at www.feb.be.
The supervisory authorities of ING Life Belgium, as an insurance company, are:
- the National Bank of Belgium, Boulevard de Berlaimont/Berlaimontlaan 14, B-1000 Brussels, Belgium - Tel. +32 2 221 21 11 - www.bnb.be - info@nbb.be
- the Financial Services and Markets Authority (FSMA), rue du Congrès/Congresstraat 12-14, B-1000 Brussels, Belgium - Tel. +32(0)2 220 52 11 - Fax +32(0)2
220 52 75 - www.fsma.be - consumenten@fsma.be.
ING Life Belgium adheres to the following codes of conduct:
Rules of conduct issued for the Insurance sector by Assuralia, available at www.assuralia.be;
Code of conduct relating to electronic trading of the Federation of Belgian Companies, available at www.feb.be.
The supervisory authority for ING Contact Centre Belgium, as an insurance sub-agent or agent for banking and investment services, is the Financial Services and
Markets Authority (FSMA), rue du Congrès/Congresstraat 12-14, B-1000 Brussels, Belgium - Tel. +32(0)2 220 52 11 - Fax +32(0)2 220 52 75 - www.fsma.be consumenten@fsma.be.
ING Contact Centre Belgium adheres to the following codes of conduct:
Rules of conduct for insurance intermediaries of the Trade association of insurance companies, available at www.assuralia.be;
Code of conduct relating to electronic trading of the Federation of Belgian Companies, available at www.feb.be.
12. Table of main risks linked to the various categories of financial investment products
Currency risk (investments in
currencies other than EUR)
Interest rate risk (yield curve)
Volatility
Principal risk (if appropriate,
upon maturity of the
investment)
No
Shares
X
X
X
X
-
X
X
No
No
No
No
Yes
No
Bonds
X
X
X
X
X
X
X
No
No
No
No
Yes
No
Structured notes
X
X
X
X
X
X
X
No
No
Yes
No
Yes
No
Savings account
-
X
-
-
X
-
-
Yes
Yes
Yes
Yes
No
No
Online savings account
-
X
-
-
X
-
-
No
No
No
No
Yes
No
Unregulated savings account
-
X
-
-
X
-
-
No
No
Yes
No
No
No
Branch 21 insurance
X
X
-
-
X
-
X
No
No
No
No
No
No
Branch 23 insurance (equities)
X
X
-
X
X
X
X
No
No
No
No
No
No
Branch 23 insurance (bonds)
X
X
-
X
X
X
X
No
No
No
No
No
No
Branch 23 insurance (mixed)
X
X
-
X
X
X
X
No
No
No
No
No
No
Branch 23 insurance (protected capital)
X
X
-
X
X
X
X
No
No
No
No
Yes
No
Reverse Convertible Notes
X
X
X
X
X
X
X
No
No
Yes
No
Yes
No
Equities SICAV
X
X
-
X
X
X
X
No
No
Yes
No
Yes
No
Bond SICAV
X
X
-
X
X
X
X
No
No
Yes
No
Yes
No
Mixed Sicav
X
X
-
X
X
-
X
No
No
Yes
No
Yes
No
Money market Sicav
X
X
-
X
X
-
X
No
No
Yes
No
Yes
No
SICAV (protected capital)
X
X
-
X
X
X
X
No
No
No
No
Yes
No
Derivatives (such as warrants)
X
X
X
X
X
X
X
No
No
Yes
No
No
No
Option plans
X
X
X
-
X
X
X
Yes
No
Yes
No
Yes
No
Term accounts
-
X
-
X
X
-
-
No
No
Yes
No
No
No
ING Citizen’s Thematic Lending
-
X
-
-
X
-
-
Yes
Yes
Yes
Yes
Yes
No
Star Fund pension savings plan
X
X
X
-
X
X
X
Self’Bank
Investment
Yes
Phone’Bank
No
Smart Banking
Yes
Home’Bank/Business’Bank
No
ING mobile website
No
ING website
Liquidity risk
Risks
Issuer risks (credit risk)
Type
Market risk
Offered via:
This table summarises the main risks relating to the investments shown. In the same investment category, one may be more sensitive than the other to the risk
mentioned. Investors are advised to ask for advice about specific investments in the event that the risks are not clear to them.
Definition of risks
-
Market risk: the risk of a partial or total loss of the value of the investment owing to financial market developments.
-
Issuer risk/credit risk: risk of the default (for example due to bankruptcy) of an issuer or counterparty.
-
Liquidity risk: risk that in the event of the sale of a financial investment it is unable to attract a buyer on the market within the appropriate
timeframe and/or at a reasonable price.
-
Currency risk: risk that the value of the investment will be affected by a change in exchange rates.
-
Interest rate risk: risk that a financial investment (such as a bond) will lose value if the prevailing interest rates in the financial markets rise above
the rate relating to that investment.
-
Volatility risk: risk that an investment such as in shares or bonds will vary significantly up or down due to its nature or characteristics. The more
an investment has a tendency to move strongly over a brief period of time, the more volatile it is said to be.
-
Principal risk: the risk of losing some or all of the principal invested over the investment’s term or at its maturity.
This general information is drawn up on the basis of the legislation in force as at 1 July 2014 and is valid until further notice from ING Belgium, subject to changes
that are beyond ING Belgium’s control.
The information, offers and rates published via the ING Belgium website (www.ing.be) or the mobile website MyING.be or ING Belgium’s
Home’Bank/Business’Bank, Phone’Bank, Smart Banking or Self’Bank services only apply during the period of validity of the offer with which they are
associated unless another date is formally stipulated, subject to any changes that are beyond ING Belgium’s control.
Copyright © 2014 ING Belgium SA/nv - All rights reserved
Reproduction and circulation are prohibited without the prior written consent of ING Belgium.
Publisher: Inge Ampe - cours Saint-Michel/Sint-Michielswarande 60, B-1040 Brussels -07-2014.