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No International Txn Fees + Fee Free ATM Withdrawals Worldwide for ING Orange Everyday and Orange One with $1000 Deposit/mth

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No International Txn Fees + Fee Free ATM Withdrawals Worldwide for ING Orange Everyday and Orange One with $1000 Deposit/mth
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neilpatrickharris on 10/11/2017 - 07:20 files.ozbargain.com.au (2188 clicks)
Last edited 10/11/2017 - 11:50 by 2 other users

Edit: It looks like with the changes coming up in March 2018, ATMs will no longer be free unless you make 5+ card purchase per month, in addition to depositing $1,000+ per month (Shame on you, ING - I'll be moving banks)

No ING international transaction fees when you travel or shop with overseas retailers

In addition to free ATMs in Australia, we’ll rebate the ATM fee within five business days at any ATM around the world (the Orange One cash advance fee still applies).

This is applicable when you:

Deposit your pay of $1,000 or more every month, and

From March 2018, also make 5+ card purchases every month using your Orange Everyday or Orange One (excluding ATM withdrawals, balance enquiries, cash advances, EFTPOS cash-out only transactions)

More info at http://ing.com.au/cards

Referral Links

Referral: random (405)

Until 30/6/2024, referrer and referee will each receive $75/$100/$125 for opening new Orange Everyday & Saving Maximiser Accounts.

Referrer: Do not participate in the referral system if you do not have a current $75/$100/$125 referral code.

Referee: To qualify, you are required to deposit a minimum $1,000 and make at least 5 (settled) card transactions within any calendar month.

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closed Comments

        • CLoSeR on 10/11/2017 - 09:24

          Not when it's supplied by 28 Degrees.

        • muncan on 10/11/2017 - 09:48

          Set up auto payment via direct debit. Never pay bills again, and the auto direct debits are free.
          Now your time can be better spent making paperclips.

        • soupkitchen on 10/11/2017 - 13:31

          Ditto to Muncan.
          28degrees Auto payment is a big plus, not available with bankwest afaik.

        • CLoSeR on 10/11/2017 - 13:41

          @soupkitchen: I have auto debit setup with all my credit cards.. it's gold.

      • Osprey06 on 10/11/2017 - 09:42

        28degrees and BW are best for purchases (credit cards having interest free days and all). Citibank Plus for cash withdrawals, although it seems to me that Citibank are padding their exchange rate these days.

      • soupkitchen on 10/11/2017 - 13:34

        @CLoSeR

        Nothing, I just never set up a Citibank account ;-)

    • nadan on 10/11/2017 - 12:00

      Coles credit card is better as you accrue points as well.

      • soupkitchen on 11/11/2017 - 08:20

        but has an annual fee for the card your referring to, yes?

        • nadan on 11/11/2017 - 08:40

          Yes, there is also a no annual fee one, but I'm not sure if that has the same features. The platinum is worth it if you spend enough to earn enough points to cover the annual fee.

        • illumination on 12/11/2017 - 23:00

          @nadan: Nope, doesn't quite have the same features.

          The no annual fee one does not waive international transaction fees and earns points at a rate of 4x less.

          I partially agree with what you said with the Platinum being worth it if you spend enough, but with DiviPay now an option, it has significantly eroded the value of the Coles Rewards Mastercard.

  • Vash1984 on 10/11/2017 - 08:23
    +2

    Did you know you can over pay your bills. Just pay $1x5 to your gas, electric, water etc.

    • soupkitchen on 11/11/2017 - 08:21

      Nope, good solution, thanks MU you are totally unreliable ;-)

    • illumination on 12/11/2017 - 23:03

      So true.

      Alternatively, self check out at Coles/Woolies and 5x $0.01.

      Or just $0.01 to your gas/electricity/water.. if they allow it. That way you don't even need to step out of the house.

  • Ryk on 10/11/2017 - 08:23
    +4

    i closed my me bank account because of the silly 5 transaction requirement.

    • tastycheeks on 10/11/2017 - 11:21
      -1

      Now me bank seems more worth it: 1) no minimum monthly deposit and 2) A higher interest rate of 2.95%. (only weekly purchases required)

  • kev98 on 10/11/2017 - 08:27
    +4

    Ing has really gone to shit house

  • Godric on 10/11/2017 - 08:33

    So the question is move from ING to…………
    UBank or Macquarie?

    • neilpatrickharris on 10/11/2017 - 09:04

      no offset account with UBank was a dealbreaker to me. Unless you don't have a mortgage - then doesn't make much of a difference.

    • mooboy on 10/11/2017 - 10:48

      I'd go UBank - as the Macquarie saving rate is only introductory and you'll need to look again in 4 months.

    • emoticon on 11/11/2017 - 22:54

      If you’re set on moving, definitely Macquarie bank for an everyday account - have their platinum debit card as my backup. They’re online banking and phone app are very good, on par with ING’s. Customer service via phone has also been good the couple of times I needed to call.

      Plus it has no international transaction fees vs UBank.

  • hawkers8905 on 10/11/2017 - 08:33
    +4

    This should probably be posted under dealbreaker section if it existed

  • urbancartel on 10/11/2017 - 08:39
    +2

    Got trigger happy on the plus vote but renegged it once I read the terms… It's a no for me, happily stay with Citibank for now

  • obiwanmy on 10/11/2017 - 08:41
    +2

    Amazing this has more than 100 plus votes ….

    Facebook post also indicates ppl are happy with this change … am I missing something here ? Is 5 transactions really worth it to get free ATM ? I thought getting points will be more worth it for those of us with credit cards reward points

    • witsa on 10/11/2017 - 08:44
      +1

      yep ING is basically only good for ppl who don't want a credit card with points and don't want have a mortgage with an offset.

      • Gandalf the Thrifty on 10/11/2017 - 08:56
        +1

        Ing has loans with offset account it uses orange everyday as account???

      • llllllllllllll on 10/11/2017 - 08:57
        +2

        I have a mortgage with offset with ING and it's working out ok.

    • dheywood on 10/11/2017 - 08:49
      +4

      How do people not make 5 transactions a month? Simply paying for fuel and groceries pretty much covers it.
      Of course, I'm moving away from having a credit card and don't play the points game, which are apparently worth hardly anything these days anyway.

      • neilpatrickharris on 10/11/2017 - 08:54
        +3

        The points game is one thing, the opportunity cost of missed interest from upfront payment is another. Figure out your opportunity cost of paying upfront - i.e. the money you could've earned from putting it in your savings account (less taxes paid), or having it in your offset account (with no tax on implicit interest earned). In my case, I "earn" 0.56% effectively since my mortgage rate is 3.74%, and i get ~55 days interest free.

        • Samsungnote10 on 10/11/2017 - 09:18
          +1

          For people like me.
          It have cash in the account

          If I forget to tap or am overseas for a month I will lose the interest

          That's a huge opportunity cost and headache

          I also put all my purchases through on credit card. So ING is merely used to park money

        • neilpatrickharris on 10/11/2017 - 09:43
          +1

          @hellohello123:

          I completely agree. While this may be a good deal for some, it's not useful for me. I used to be using my ING transaction account daily, but this stopped once the cashback stopped. Now, everything goes through my credit cards and ING is only used to park money in the offset account. I don't really use ATMs when going overseas which is why I'm happy to move across to Macquarie (they still have a $5 fee on international ATMs I believe, but no fee on card or international purchase).

        • muncan on 10/11/2017 - 09:51

          @neilpatrickharris: I reckon you should revoke your vote op! And perhaps a mod can turn your vote upside down? 😂

        • neilpatrickharris on 10/11/2017 - 09:53
          +2

          @muncan:

          Done :) and I got a fancy new Revoker Badge with it

        • muncan on 10/11/2017 - 09:54

          @neilpatrickharris: Now I feel all warm and fuzzy.

      • obiwanmy on 10/11/2017 - 08:58

        I think the issue is that there are no real additional benefits if you only use their card for ATM withdrawal since this free benefit will be removed unless you make 5 transaction - for me, using credit card its not all about the points (it helps though) - i use credit card so that in case there is dispute, i can do a charge back, without someone else physically holding my cash. Debit card means my cash will already end up in someone's else account leaving me out of pocket immediately. Also credit card if lost does not impact my cash balance, only my credit balance (which is easier to manage). Most credit card these days also offer free travel insurance, lounge access etc etc … I had someone in office who got scam of her debit card, she could get any cash for weeks.

      • nubzy on 10/11/2017 - 09:17
        +1

        It's just a pain and another thing you have to consider. I pay for my groceries with gift cards and still use cash a fair bit. It's not hard to make the 5 transactions a month, but its still another thing to think about.

      • witsa on 10/11/2017 - 09:35

        You answered your own question. People don't want to use the savings account because they can get points on credit which equate to like 1-2% back depending on the card and what you spend it on.

    • hawkers8905 on 10/11/2017 - 08:51
      +3

      It's a good change if ING is your everyday account, your pay goes in to it, etc.

      A couple of coffees a week and you'll get the 5 txns no problem, keeping the amex for the groceries with the 3x points at Coles/WW (Plat Edge card).

      I see why it gets + voted.

      However, the killer and the reason why I'm not + voting it, is the fact that you now need the 5 txns to also qualify for the 2.80% on savings. Depositing $1k a month was manageable, even if I had to withdraw some and put it back in again. And ING is not my everyday account, I only had it for the savings as CBA GoalSaver was s&&t. Time to investigate RAMS.

  • [Deactivated] on 10/11/2017 - 08:45
    +2

    Already doing 5 transactions + a month on ING. Good deal for me for no change.

  • IdBuyThat4aDollar on 10/11/2017 - 08:45

    Do you still need to do the 5+ transactions if you also have an ING home loan?

  • Jared17 on 10/11/2017 - 08:52

    5 transactions month to get international fee free is deal breaker for me, I dun use it as a main card. Will stick with Citibank.

    • cashless on 10/11/2017 - 09:10
      +12

      That isn't the deal breaker.
      The deal breaker is having to make 5 card purchases/month in order to access the highest (2.80%) interest rate on Savings Maximiser

      • [Deactivated] on 10/11/2017 - 09:15

        That's not a deal breaker either if you use it as your everyday account. Just find another bank if you want to sit all your money in one spot effort free?

      • Jared17 on 10/11/2017 - 09:26

        Oh Crap, didn't even realize that initially. I thought it was just for the intl fee free offer. Read the email again, sure enough at the bottom it says from March next year, that is needed to get the max interest rate. Definitely moving my money now. Good while it lasted.

  • Jatacid on 10/11/2017 - 08:58
    +1

    Is this going to be the standard FX Exchange rate? Or an adjusted rate that they take a bit of cream off of? I was using the commbank travel card but the exchange rates were horrible

  • llllllllllllll on 10/11/2017 - 08:58
    +4

    I think the main target of ING for this deal is their everyday customers - which I think nice for a change.

  • BTheunissen on 10/11/2017 - 09:03
    +2

    I am not too fussed by the 5 transaction thing, it will be a pain but I'm willing to stick with it for a while.

    Does anyone know where I can find the international currency rates for ING? Or will they just use the vanilla Visa card rates?

  • oblivianz on 10/11/2017 - 09:07

    Would like to know if direct debits are considered as card purchases? Would make everything a lot easier to manage

  • railspider on 10/11/2017 - 09:27
    +5

    If I'm going to a country with high ATM fees, I'll do the 5x transactions to unlock the benefit - it's actually quite useful for travellers that can't always find a Citibank or fee-free ATM.

    Otherwise my ING Everday card will remain un-used in my wallet, and my ING Savings account will stay empty.

    • iSamurai on 10/11/2017 - 09:59
      +2

      I went to NZ and withdrew cash with the Citibank debit card with ANZ, BNZ, Westpac and never got charged ATM fees. I did the same in Europe as well with random banks.

      • railspider on 10/11/2017 - 10:35
        +2

        Cool. I go to SE Asia and every bank will try hit you for up to $5 at a time. Plus they have really small withdrawal limits, necessitating multiple transactions.

        There are some countries this card will be quite useful in.

    • Love a bargain on 10/11/2017 - 11:00

      I'm thinking along the same line.

      I'll be moving my balance elsewhere before March and only transfer $ back into my ING SM and use my card 5 times if I know I've a trip coming up in the next month (esp if I'm going to places where I'm not sure I will be able to find a fee free ATM - where this would be a good back up to the trusty Citibank debit card).

    • [Deactivated] on 10/11/2017 - 23:11

      Yeah it's useful if you're LGBTIQ (apologies if I've missed any other letters of the alphabet) p

  • evgpek on 10/11/2017 - 09:30
    +1

    How about buying overseas/online - what fees ING charge vs others?

  • brendanAUS on 10/11/2017 - 09:31

    im going to japan next march is this the best card to use whilst overseas?

    • vetopower on 10/11/2017 - 09:52
      +1

      No. Citibank for cash and 28 Degrees/Bankwest for credit card purchases.

      • nightelves on 10/11/2017 - 10:39

        Do you know which banks are fee free in Japan?

        • maxexcloo on 10/11/2017 - 11:13
          +1

          Any 7-Eleven is fee free with Citibank - they're everywhere too!

        • nightelves on 10/11/2017 - 11:45

          @maxexcloo:

          Awesome! Thanks!

        • cashless on 10/11/2017 - 12:54
          +2

          Brilliant wiki on where Citibank Plus withdrawals are free here

        • nightelves on 10/11/2017 - 13:15

          @blibster:

          Wow that is amazing! Thanks!

  • coupeborgward on 10/11/2017 - 09:32

    not sure if that is a bargain really ?

    • [Deactivated] on 10/11/2017 - 23:11

      That's a negative way to look at it sir.

  • EphemeralEnigma on 10/11/2017 - 09:35

    Taken from their Information Page: https://www.ing.com.au/everyday-banking.html > Important Information.

    Doesn't seem like direct debit is included in their card purchases description..

    International Transaction Fee Waiver Offer for Orange Everyday Customers

    The International Transaction Fee Waiver Offer will apply for the next calendar month when you perform the following during the current calendar month:

    • deposit at least $1,000 from an external bank account to any personal ING account in your name (excluding Living Super and Orange One), and

    • (effective from 1 March 2018) also make at least 5 card purchases using your ING debit or credit card (excluding ATM withdrawals, balance enquiries, cash advances and EFTPOS cash out only transactions).

    Card purchases includes in store credit or EFTPOS purchases, online purchases, regular card payments, payWave, Apple Pay, and Android Pay transactions made with an Orange Everyday Visa card, Orange One or Orange One Platinum Visa card or Nil Interest Visa card provided with an eligible ING home loan. Card purchases made in store or online this current calendar month which settle next calendar month do not count towards the 5 card purchases needed this current calendar month.

    • WantToPayLess on 10/11/2017 - 09:48
      +1

      That last paragraph you quoted actually appears to suggest that direct debits to the visa debit card will count as card purchases (regular card payments)…

      • EphemeralEnigma on 10/11/2017 - 10:15

        Ah.. I meant to say that scheduled transfers from the account would not be considered.

  • rakkihizoku on 10/11/2017 - 09:42
    +1

    Can you just setup 5 auto transactions on a re-occurring monthly basis to the Savings Maximiser account or different bank? Would that count as 5 transactions?

    • vetopower on 10/11/2017 - 09:51

      Not unless they are purchases of a good or service. Simply transferring money to another account will not count.

      • rakkihizoku on 10/11/2017 - 10:23

        Just called up and confirmed. If the destination account is not with ING ie (Commonwealth, WestPac, anything that isnt ING) this would count towards the 5 transaction condition.

        • vetopower on 10/11/2017 - 10:26
          +3

          I think you've been told the wrong information.

          You need to make 5 card purchases. You cannot make a card purchase by transferring money from one account to another.

          See the terms:

          • (effective from 1 March 2018) also make at least 5 card purchases using your ING debit or credit card (excluding ATM withdrawals, balance enquiries, cash advances and EFTPOS cash out only transactions).

          Card purchases includes in store credit or EFTPOS purchases, online purchases, regular card payments, payWave, Apple Pay, and Android Pay transactions made with an Orange Everyday Visa card, Orange One or Orange One Platinum Visa card or Nil Interest Visa card provided with an eligible ING home loan. Card purchases made in store or online this current calendar month which settle next calendar month do not count towards the 5 card purchases needed this current calendar month.

        • rakkihizoku on 10/11/2017 - 14:41

          @vetopower: Yeah must've been the wrong information. Called with someone else and they said transferring between accounts don't count.

  • xiaozaocha on 10/11/2017 - 09:43
    +2

    I stopped using my ING account after they cancelled the cash rebate. They still kept sending me all kinds of promotions. So I decided to cancelled the card about one month ago.

    why not just use MQ card?

    No international transaction fee

    50c rebate when you cash out (eg: at coles, wws) no less than $100.

    I will give a neg rating for this one

  • 1parle on 10/11/2017 - 09:50

    And that's the final nail in the coffin. Goodbye ING

    • vetopower on 10/11/2017 - 09:52

      It's such a shame. They used to be good.

      • 1parle on 10/11/2017 - 09:54

        Yes, I got a lot of cashback and referral bonus over the years. But maybe all good things come to an end :(

        Ramsaver for me now for high interest rates on savings

  • Pcoder on 10/11/2017 - 09:55
    +1

    The international fee removal is good, but this 5+ Transactions is a pain. I'd prefer if they had another option of say deposit $1200 to also meet the fee free conditions.

    Probably what I will do is since my Amex on counts points on whole dollars, I just split payments on the left over cents on Supermarket purchases.

  • Meconium on 10/11/2017 - 09:57
    -1

    Upvoted for awareness - this sucks.

  • [Deactivated] on 10/11/2017 - 09:58

    I never had any international transaction fee but mostly a huge exchange rate. Also there is no ATM fee anymore anywhere.

    • pilchard on 10/11/2017 - 10:36

      Also there is no ATM fee anymore anywhere.

      If only that were actually true!

  • Duram on 10/11/2017 - 10:11
    +3

    I reckon they could add a few more terms and conditions for this lol. Need a spreadsheet to make sure you meet the requirements each month.

  • Windows7forever on 10/11/2017 - 10:14

    Does this apply for online shopping purchases?

  • sfac on 10/11/2017 - 10:14
    +1

    Why is this a 'big' news? It's one of the headlines on SMH.

    http://www.smh.com.au/business/banking-and-finance/ing-to-sc…

    How much has ING paid Fairfax for the advertising article?

  • starbearer on 10/11/2017 - 10:42
    +1

    The $50 referral bonuses won't recover themselves, you know.

  • mooboy on 10/11/2017 - 10:50
    +1

    (effective from 1 March 2018) also make at least 5 card purchases using your ING debit or credit card (excluding ATM withdrawals, balance enquiries, cash advances and EFTPOS cash out only transactions)

    Needing this to get the bonus interest actually makes me want to stop using my ING account.

  • Kuro on 10/11/2017 - 10:53

    Thanks! I work at a big 4 bank, used to be fee free for staff, now they charge. Just signed up to Citibank Plus and Bank West Zero Platinum.

  • drillvoice on 10/11/2017 - 11:14
    +4

    They are making the situation worse and trying to pass it off as an improvement. Certainly for OB users, most people would be using separate cards for day-to-day transactions. Now you miss out on bonus interest. This should be in the forums as an anti-deal, instead of making it seem OK!

  • Poolprouk on 10/11/2017 - 11:19
    -1

    Surely the weekly shop at Aldi will count for 4 of the 5 transactions?

    • lordra on 10/11/2017 - 20:30

      Correct.

  • Toph Beifong on 10/11/2017 - 11:20
    +4

    Vote with your feet, I'm sure they will get the message.

  • Charlie Dont Surf on 10/11/2017 - 11:20
    +6

    So for THAILAND, this will rebate the 200 Baht (~$A 8) fee per ATM withdrawal?

    I'm considering keeping the card just for this, if that's the case.

    • lordra on 10/11/2017 - 20:30

      Correct.

      • Charlie Dont Surf on 11/11/2017 - 00:40

        From memory, the 200B "fee" isn't really recorded as a fee though, it is just added onto your withdrawal amount. I wonder if ING's systems can determine that?

    • potm on 10/11/2017 - 21:37

      It’s 220 now. Will be great for Thailand. I only know of one citibank atm place there.

  • Shadowsfury on 10/11/2017 - 11:25
    +3

    Seems like I will keep the account but only use it for fee free withdrawals overseas where citibank card would attract a fee.

    Just have to remember to keep the 5 purchases in mind the month before travel

  • docpol on 10/11/2017 - 11:27
    +1

    If I just withdraw all my money from ING, will they close my account automatically or I still have to call them to close it?

    • Fobsessive on 10/11/2017 - 15:43
      +1

      Still need to call

  • lufee on 10/11/2017 - 11:34

    I just wanna be sure which card I should be using overseas

    I have both 28degree and coles rewards mastercard (fee paying one).

    Does coles works same as 28 degrees card overseas?

    Because it says "Pay no international transaction fees on purchases when you shop online or overseas.4"

  • idonotknowwhy on 10/11/2017 - 11:49

    Damn, ING used to be awesome. When I signed up, I got:
    - 2% cashback instantly
    - Only had to move $1000 in to get bonus interest
    - > 3% savings rate.
    - $100 referral codes every 2 months, where they just have to deposit 1k

    Now I only get:

    $100 referral codes, where they have to deposit $1000 AND make 5 transactions
    No ATM fees (but big4 ATMs don't charge fees anyway, so only useful for pubs/casinos)
    Lots of hoops to get 2.8% savings rate

    I'll stick with them anyway for the multilevel marketing (referrals)

  • forumninja on 10/11/2017 - 12:13
    +3

    5 card transactions per month requirement makes ING a terrible choice

  • wjb on 10/11/2017 - 12:13

    I don't have a homeloan, can i still put my savings at Ubank or RAMS?

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