Looking for Transaction Account - ING vs Macquarie vs Others

OzFrugie on 14/04/2018 - 22:00
Last edited 14/04/2018 - 22:55

Hi all,

As the title says, I am currently looking for a transactional account.
No monthly fee and free any ATM withdrawals is the main thing. Good online banking will be a plus too.

I am torn between ING Orange Everyday or Macquarie Transactional Account.
ING -> $75 cashback offer, but to get free ATM withdrawals, need to deposit 1000+ and min. 5 purchases (https://www.ozbargain.com.au/node/370913?page=1#comment)
Macq -> no cashback offer, but seems free ATM withdrawals unconditionally (?) and I heard their online banking is one of the best, if not the best?

Do I miss other great options?

Alternatively, I can open ING just to get the $75, close it after I get the money, then open Macquarie (or other account).
Would that cause problem with ING, e.g. they will not honour / take back the $75 if I, say close the ING account a couple of weeks after I get the $75?

What do you think best?

Cheers

EDIT: No monthly fee is actually also the main thing.
If you can also provide your reasoning in the comment section, that will be much appreciated.

Poll Options

  • 8
    Go with ING Orange Everyday
  • 12
    Go with Macquarie Transaction Account
  • 3
    Open ING, get the cashback, close it, then open Macquarie
  • 3
    Other - please comment
Financial

Comments

  • burningrage on 14/04/2018 - 22:29

    Consider this…

    https://www.ozbargain.com.au/node/363416

    • OzFrugie on 14/04/2018 - 22:56

      Thanks mate, I'll have a look

      • pantsparty on 15/04/2018 - 08:31

        I find the HSBC online banking experience to be rubbish. Every time I have dealt with them they are very slow. I would avoid.

        • burningrage on 16/04/2018 - 08:46

          They have a new UI. It does take time to get used to but otherwise better. One of the biggest improvement I have seen and used often is the Online Chat feature.

          It cuts down waiting time vs on the phone and I am finding the backoffice guys are relatively good.

          It is still unmatched vs Citibank but much better.

  • [Deactivated] on 14/04/2018 - 23:47
    -5

    CBA

    • OzFrugie on 14/04/2018 - 23:49

      care to explain your reasoning?

      • [Deactivated] on 14/04/2018 - 23:50
        -4

        no fee
        best app
        best atm network
        platinum debit card when you ask
        all aussie call centres

  • [Deactivated] on 15/04/2018 - 10:23
    +3

    Macquarie.

    Their other products are becoming more competitive too, home loans for example.

    Internet banking is great for budgeting, uploading receipts, fast log in, user profiles integrate with gravatar (!), the best I've tried.

    Call centre more or less hopeless though.

    If the $75 means that much then do that too, and close once you have it.

  • retiredfeline on 15/04/2018 - 10:38
    +1

    Is that important to have fee-free ATM withdrawals everywhere when the big 4 are fee-free, and you can use Woolies also?

    Apply for both if you must have the $75, but MQ has better online banking including push notification of purchases.

    You might want to hang on to ING in case you travel, then fulfil the requirements the month before so that you get ATM rebates for foreign withdrawals. Also consider a Citi debit card for travel.

    PS: No need to append al to transaction.

  • OzFrugie on 15/04/2018 - 22:39
    +2

    I've decided to try Macquarie and meanwhile I'll keep an eye on ING deal > $75 cashback, may strike then :) thanks all

    • Kyle-K on 30/04/2018 - 17:41
      +1

      You should be able to get as high as $100 for opening an account at ING.

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