The online savings bank, which is part of the Dutch-owned ING Group, has approached several undisclosed shops with a view to holding a pitch in early 2008.
The agencies have been asked to submit initial presentations by the end of January, after which a shortlist will be drawn up. The AAR is understood to be handling the review. VCCP has worked on ING since November 2002. It has been invited to repitch.
The successful agency will be responsible for ING's TV, print, press and outdoor ads.
An ING spokesman said: "VCCP has worked with us since our launch in May 2003, and has played a key role in the ING success story. After almost five years, it is timely to review our creative approach going forward."