Hi,
I'm overseas for a while and I would like to keep my interest rate with ING and, as some of you may be aware, one of the requirements is to make five transactions per month on your CC. In the past, I did donations to some charities but strangely enough a couple seem to have gone bankrupt.
Any ideas/suggestions of ways to keep those five transactions? I'm happy with the donations as long as they accept $1 and can be done online.
Thank you all for the help!
This is good advice. The 5 transactions per month includes transactions made overseas. Some people are under the impression that you have to make these transactions in Australia but that is definitely not the case.
donate to my holiday fund?
don't you have another account you could just move money into and out of or maybe a family members account.
ING Visa debit linked to PayPal.
I send my partner 5x $0.01 each month, she back to me, we never actually use the cards.
Better yet, you can have PayPal automate this by setting up subscriptions. Once I set up the subscription debits, I haven't had to transfer anything manually since.
Is this for business accounts only?
Does this actually fulfil the criteria for 5 store based transactions?
Link the card to a Paypal account and make a family and friends payment to yourself.
tried and got this error msg… You can’t send money to yourself. Want to send it to someone else?
To your other PayPal account?
no only have one paypal account, didn't know can have a second account. learn something new everyday
Note, I had an issue with paypal. I did 7 transactions, and because they used my paypal account to charge and not my credit card number ING didn't count them as transactions. Quite odd. I lost a substantial amount of money on interest that month.
What I do now is either give money to charity; I setup recurring payments with OzHarvest, and they emailed me questioning it (quite rude actually), and then a month later they canceled my ongoing payments - and I haven't been charged since. Or I buy 5 cheap items from ebay.
Did you link your PayPal account to your ING account using your card number or as a bank account using your account number? If the latter, link it as a card using the card number. I've been having PayPal automatically make the 5x 1c transactions each month and haven't had any issues at all with getting the bonus interest.
do you make recurring payment to yourself within Paypal?
I have two PayPal accounts.
@Ninja9: I set it up to debit 1c once every five days, but I know someone else who does it 5x1c in a day and that works too.
What ever method you use, if its financially important to you, simply log into your ING account and check the status requirements for the following month are meet.
I think most charities require a $5 minimum for CC payments. if you find one that doesn't, let me know and I'll make a script for automatic donations
Thank you for the offer, realfancyman! I used to deal with a few charities accepting $1 donations but after seeing a couple disappearing and others pestering me with emails, even if I unsubscribed from their mailing lists, I think I'll go for the Paypal option to send money to family/friends.
I just use BeemIt between myself and my girlfriend. Quick easy painless
Can that be automated or do you do it manually?
I just do it manually, $1,$2,$3,$4,$5. it's done in 30 seconds and she does it back.
If you want automated go paypal option
I made 5 transfer all have been settled. ING still shows requiring 5 card purchase. Thank you.
Edited: read online, transfer between BeemIt would be working fine, just need to wait for few more days
how does this work? I'm interested in picking up an ING account for when I travel overseas
deposit $1000 into ING account every month, make 5 card purchase (split payment in supermarket, or pay Telstra bill via Paypal，or transfer 5 times via BeemIt)
I pay my linkt account but it is a bit of a hassle because I do 5x $1 manually and need to remember each month
Thank you for your answers, guys! Very helpful tips!
My idea of the charities became very unreliable so I'll go for the Paypal option sending 1c to family/friends or even myself.
I do 5x $1 transactions to my Telstra account, seems to do the job and only takes a couple of mins once a month.
I did transfer to Telstra account, but I only could do 3 or 4 times each day, I had to wait till next day to complete 5 transaction.
Yes I also find the Telstra site somewhat unreliable.
When you say transfer are you doing it from the Telstra account page and paying bye credit card (ING orange everyday card)?
If I remember correctly, I linked ING debit card to PayPal account, then I logged onto Telstra account page paying from there.
@antkey: I haven't tried that method but personally adding the ING card as a credit card to my Telstra account has worked every time when manually paying a dollar
I pay the council rates notice, 5 transactions of $0.01
Generally do it on the first few days of the month, and am done.
I pay Optus 5x $1 transactions at the beginning of every month, they let me do them all on the same day.
With BeemIt, it's now very easy.
With one BeemIt account you can have up to 3 cards linked to it.
Just link the ING card and another card.
Then just make 5 transfers from ING card to the other card using BeemIt.
Use a referral and get $5 for new account
So how is everyone doing the 5 monthly transactions nowadays?
Woolworths split payment? 5 x $0.01?
Coles?
Or other.
I usually do 5 * 10c at Coles or Woollies each month.
Thanks mate.
Haven't needed to as the 'Beem it trick' previously worked, good to know both supermarkets allow split payments with small multiples.
Thanks
Make in-store transactions from where ever you are?