Would You Recommend Leaving Commbank for ING?

Lexa on 13/03/2017 - 23:39
Last edited 14/03/2017 - 09:29

I've currently a Smart Access account and a NetBank Saver and it's been working well and I never paid much attention to all that.

I've realized that the saving account is a joke so I plan on moving my savings to an ING DIRECT Savings Maximiser.

As I don't like having several accounts I'm thinking about moving everything to ING.

Would you know of a reason/advantage that would make me miss having a CB account?

Would you recommend another bank? Why?

[edit] Thanks for the feedback I'll do the OzBargain referral random now !

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Comments

  • [Deactivated] on 14/03/2017 - 00:01
    +1

    I did the same. Moved everything to ING and the CBA is just showing zeroes for several junk accounts they openned for me.

    Having said that ING mobile so is pretty simple, and there is a chance some features that were available with CBA is missing with ING. But I'm happy all about it especially with 3% interest and the free ATM withdrawals.

    "Cardless cash" isn't available with ING.

    • valac12 on 14/03/2017 - 00:05

      Also did the same.

    • exa on 14/03/2017 - 09:24

      I've rarely used cardless cash so fine by me!

  • sillysam on 14/03/2017 - 01:00
    +7

    Just a tip.

    Open your ING Everyday (or other account) account FIRST and there will be an option to open a savings maximiser at the same time. I opened the Savings Maximiser first and ended up with two client numbers.

    • exa on 14/03/2017 - 09:25

      Thanks for the tip, will do!

  • [Deactivated] on 14/03/2017 - 01:43
    +2

    If you value good/excellent customer service, then yes, move the heck away from CBA and get onto ING.

  • JSQUARED on 14/03/2017 - 02:25
    +1

    The only advantage I could only think of if you were to stay with CBA is being able to deposit cash (especially if you have heaps of coins) at an ATM.

    For ING, you'd only be able to deposit cash at a post office and it can be time consuming depositing heaps of coins (don't think there's coin counting machines there, so they'll have to be manually counted).

    • ozAzn on 14/03/2017 - 07:04
      +1

      The option would be to keep a nil balance CBA account and deposit coins using their coin counting machines, then transfer to ING at a later date. You'll lose a day or twos worth of interest for the coins but it's a small (0.03/365) price to pay to use a CBA coin counter.

      • workhappens on 14/03/2017 - 08:15
        +1

        Also $4 a month account keeping fee, unless you transfer $2000 in and out each month.

        • bdl on 14/03/2017 - 10:06

          That's a lot of coins :)

    • exa on 14/03/2017 - 09:28

      Thanks for reminding me I'll do it before, I did like to dump a bag of coins every now and then.

      I guess I'll have to start carrying coins.

      • bdl on 14/03/2017 - 10:07

        Can you dump them on your Opal card? I use coins to reload my myki card (I'm in Melbourne) every time I'm walking past the myki vending machines

        • exa on 14/03/2017 - 10:39

          Unfortunately they don't accept a bag of coins and it would take me ages to put them all in.

    • hashtagbargain on 14/03/2017 - 10:19

      I use NAB for this purpose, their accounts have no account keeping fees anyway.

  • carwashhair on 14/03/2017 - 08:37
    +4

    Would You Recommend Leaving Commbank for ING?

    Yes. Yes I would. I find the big four banks (especially) treat their customers with contempt due to their market share.

    As an aside, it constantly amazes me how many adults still bank with CBA because they had a 'dollarmite' (primary school savings) account as a kid. Been to a few banking market research groups and I would say around 40-60% of people gave precisely this line of reasoning. Hell, my wife even uses it (to my eternal ire).

  • Your Friend on 14/03/2017 - 09:08
    +2

    You are honestly just gimping yourself staying with a big 4 bank. I did the switch from CBA -> ING about 2 years ago and haven't regretted even once.

    • hashtagbargain on 14/03/2017 - 10:19
      +1

      Plus, with ING you get Apple Pay! Comm bank can go suck an egg.

  • student4life on 18/03/2017 - 19:21

    I have always wondered about this but due to sheer amount of laziness have never bothered so thanks for starting the topic again.

    Are there any administrative fees or limitations on how much of your account can be transferred at once to a different bank?

    • exa on 18/03/2017 - 21:05
      +1

      I don't think so and when you call Commbank to close your account, surprisingly they don't even ask why just a bsb to transfer the money to.

      • student4life on 19/03/2017 - 20:17

        cool thanks for the reply. Bye bye commbank thanks for nothing lol

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