ING Direct is changing the account agreement so that they "may" be able to offer wire transfers in the future. A wire transfer would zap your money to another bank in one day, so you wouldn't have to wait the customary 2-3 business days for access to your cash.
The wire transfer service will cost a bit more, but you may be willing to pay for it in times of need. This mitigates one of the pitfalls of online bank accounts: quick access to your cash. If they add the service (which they may or may not...) you can have cleared funds sent in just one business day.
Further reading:
As an individual who just paid off a 2nd mortgage, I am acutely aware of the importance of being able to send outgoing wire transfers for such major transactions where alternatives are not viable. I am also a new customer of ING Direct and I would be ecstatic to learn that they are adding the outgoing wire transfer service so that I can feel comfortable/satisfied knowing that the full suite of bank services are available to me. I wouldn’t care if the outgoing wire transfer fee was $50 (because it would be quite rare that I would utilize it) but at least the option would be there when needed.
I guess this was just a rumor. As of today, 2011-01-13, ING Direct still does not offer wire transfers. It’s a major omission, and a good reason to use someone else for banking services.
I really like ING, and as of 2011 if you whine hard enough and plead and beg they will do it, as I had to do this to pay off a mortgage.
Not a rumor… as the author said they have added ‘may’ in availability of wire transfer.. search for the term in URL provided