ING Orange Everday Changes (1% Cashback on Utility Bills, Limiting to 5 Free Withdrawals, Removing 50c Cashback on Withdrawals)

Lrender on 26/08/2021 - 13:07
Last edited 26/08/2021 - 14:49

ING Orange Everyday are changing their offer over the next few months:

From 01 Dec 2021

From 01 Mar 2022

  • Removing the $0.50 Cash Out Bonus
  • International ATM Fee Increasing from $2.50 to $5.00 but will still be rebated up to 5 times per month*
  • International Transaction Fee Increasing from 2.50% to 3.00% but will still be rebated*

*Eligible Customers who use their card 5 times and deposit $1,000 in the previous month

https://www.ing.com.au/pdf/Orange_Everyday_Terms_and_Conditi…
https://www.ing.com.au/pdf/Orange_Everyday_Fees_and_Limits_S…
https://www.ing.com.au/pdf/Orange_Everyday_Benefits_Schedule…

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Comments

  • stirlo on 26/08/2021 - 13:26
    +2

    Limiting ATM Fee Rebates* to 5

    Damn, this was their killer feature. On my travel checklist was always to deposit money and go to the supermarket and split my payment 5 times to activate the benefit.

    When I was in Argentina they only allowed $100 dollars to be withdrawn from an ATM at a time and charged a $15 fee for the privilege. In 2 weeks there I accumulated $200 of atm fees that they rebated me! This was an extreme case but I guess with situations like this it just became unsustainable.

  • WookieMonster on 26/08/2021 - 13:33
    +2

    I found the link to the Orange Everyday Benefits Schedule, which also includes the following on the 1% Utility Bill Cashback…

    • It is only for the provision of electricity, gas or water services to Australian addresses (and does not include any physical hardware to enable these services).
    • It is capped at $100 per financial year.
    • Cashback is only eligible for BPAY and direct debit transactions. Card payments are ineligible for cashback.
    • The electricity, gas or water provider must be listed on ING’s agreed supplier list (which may change from time to time).
    • The utility bill must be in your name and for your residential address (which matches ING’s records).

    ———-

    It’s a bit of a shame that the ATM fee rebate is being paired back (particularly since I withdrew cash from ATMs a lot on my last overseas trip, as a lot of merchants either refused credit payments or charged a 5% surcharge…), but it’s definitely a feature I won’t be using for quite a while!

    • netjock on 26/08/2021 - 13:40
      +1

      The utility bill must be in your name and for your residential address (which matches ING’s records)

      How would they find that out?

      • WookieMonster on 26/08/2021 - 13:50

        They could randomly ask you to provide evidence that the utility account you are paying for is under your name and/or the joint account holder’s name and for your and/or the joint account holder’s address.(e.g. a copy of your bill).

        (I accidentally forgot to mention the part about joint accounts before…)

        • netjock on 26/08/2021 - 13:53
          -1

          Say:

          Council rates: $2k
          Water: $2k
          Power + Gas $3k

          Total $7k which is $70.

          So they are going to waste maybe 1hr to deny you $30 - $50. Okay sure.

          • Seraphin7 on 26/08/2021 - 14:30

            @netjock: Maybe they will, maybe they won't.

            As ever with these deals, people will push limits and boundaries and for the most part will never be audited or questioned.

            But equally, you can bet there will be some form of monitoring going on and check ups that go off the back of it.

            Inevitably that leads to the sorts of complaints we get here … "I legit own 82 properties and ING won't pay me my rebate".

            • netjock on 26/08/2021 - 14:36

              @Seraphin7: Capped at $100. Might be a sort of benefit but it isn't that much of an incentive to rort or put in a big system to check it.

              • Seraphin7 on 26/08/2021 - 14:44

                @netjock: I'm always surprised by how little incentive many need to create a rort!

          • KangaDrew on 02/09/2021 - 12:53

            @netjock: It think you'll find that council rates aren't classified as a utility.

            • netjock on 02/09/2021 - 13:29
              -1

              @KangaDrew: Who is going to collect your rubbish if you don't pay it? Optional?

              • KangaDrew on 02/09/2021 - 13:33

                @netjock: Paying your bills doesn't make them a utility.

                • netjock on 02/09/2021 - 14:17

                  @KangaDrew: Then what are you pay bills for if not for a service?

                  • KangaDrew on 02/09/2021 - 16:25

                    @netjock: Council rates aren't a utility, period. Feel free to take up your argument with the bank though. But don't be surprised if they laugh you out the door.

                    Have you tried to pay property taxes with iTune gift cards also? smh

                    • netjock on 02/09/2021 - 16:34
                      -1

                      @KangaDrew: What does property tax give you? Rubbish collection? I wouldn't call my income taxes a utility either because it isn't optional. You buy a house you can choose where you buy and which council area you pay your rate, You can ask for extra bins but they will just charge you extra. Don't like it buy someone else.

                      Council rates isn't actually a tax.

                      Just because you bank says it isn't doesn't mean it isn't mate. If you believe the bankers you'd believe in anything.

                      You might not get a rebate for their reasoning.

                      • KangaDrew on 02/09/2021 - 20:21

                        @netjock: Having an opinion doesn't make it a fact, but you do you.

                        • netjock on 02/09/2021 - 22:26
                          -1

                          @KangaDrew: You argue like it is a fact. A fact you swallowed from your bank out to take your money. Bank smart enough to know they'd save a bucket load if they just reclassify council rates as not utilities.

                          • KangaDrew on 02/09/2021 - 22:45

                            @netjock: I don't pay rates, so… shrugs

                            Bottom line is that utilities are essential services. And rates are taxes. You can try and counter that argument as much as you want, but your reality isn't actual reality.

                            • netjock on 02/09/2021 - 23:59
                              -1

                              @KangaDrew: You think your rent doesn't include rates? I suggest because you think you don't pay rates it doesn't exist. You are just indirectly paying it.

                              Maybe you're living in a different actual reality.

                              • KangaDrew on 03/09/2021 - 00:56

                                @netjock: At what point did I say my rent doesn't factor in rates? Or that I don't think rates exist? 🤦🏻‍♂️ You used rates as an example of a utility. I corrected you. Now you're off with the fairies making stuff up about things I didn't even say, let alone suggest.

                                But as I said - you do you. You can believe whether you want to believe. But the facts remain. Council rates are a tax, not a utility.

                                ✌🏻

                                • netjock on 03/09/2021 - 09:35
                                  -1

                                  @KangaDrew:

                                  I don't pay rates, so

                                  There. Wish you would remember what you said.

                                  For people who don't pay council rates to argue what it is, this is like you arguing with a brain surgeon on how to perform brain surgery.

                                  Suggest you are off with the ING faires who are just trying to screw people.

                                  • KangaDrew on 03/09/2021 - 14:23

                                    @netjock: Your parroted comebacks are extremely… uninspired. 🙄

                                    And saying "I don't pay rates" is a far cry from you jumping to the conclusion that I think rates don't exist or that I don't believe rates. And just because I don't pay rates now, it doesn't mean to say I haven't paid rates in the past. But since you're all about assuming things and making stuff up in your head, I'm going to just leave you to your delusional assumptions, since it's clear that your inability to comprehend the difference between taxes and utilities are all based on your own warped sense of reality.

      • bdl on 26/08/2021 - 14:30

        Maybe they'll start sharing details with their "agreed suppliers"?

        • netjock on 26/08/2021 - 14:37

          Hopefully with full customer knowledge on both sides. Otherwise looking at a bigger fine than the money you save.

    • stirlo on 26/08/2021 - 13:46
      +1

      but it’s definitely a feature I won’t be using for quite a while!

      Weird thing is it can't be costing them much as very few people could use it now, right? So why cancel it :(

      • WookieMonster on 26/08/2021 - 14:01
        +1

        Tbh, it is probably another case of ING cutting back on decent features to save a bit of money.

        I guess ING is doing it now, because they would only get muted backlash from its customers in the current environment. If this happened back in 2019, I think it would be a much bigger deal.

        • Seraphin7 on 26/08/2021 - 14:39

          100% this … the whole value prop at ING is being eroded. I've already wound back my deposits with them to effectively zero and now only hold effectively my next cash withdrawal in the account.

          • auxilrod on 27/08/2021 - 19:36

            @Seraphin7: Are there any competitors that you find have a good value proposition? Happy to take my business elsewhere if there's another bank that offers better overall.

            • Seraphin7 on 27/08/2021 - 23:18
              +1

              @auxilrod: It's really thin on the ground at the moment.

              The HSBC 2% cashback may not be a bad option depending on you're spending habits, etc.

      • bdl on 26/08/2021 - 14:31

        With Citibank moving out of retail, they may think there's less competition (Citibank had their overseas transaction account) and looking to save costs too :(

  • skid on 26/08/2021 - 13:54

    The utility bill rebate is interesting. Anybody know if they have copied this from another bank that offers a similar rebate?

  • Nalar on 26/08/2021 - 13:58
    +6

    Jesus they are making it harder and harder to justify keeping this account.

    O/S ATM rebates were pretty much their only killer feature left.

    • moar bargains on 27/08/2021 - 12:22
      +1

      I jumped ship at whatever their last ridiculous change was. The thing about having to increase savings before getting the bonus interest or something?

      • Nalar on 27/08/2021 - 18:45

        I moved all my savings to UBank, just keeping ING for travelling.

  • jimbobaus on 26/08/2021 - 14:14
    +1

    We have our home loan with NAB but remained with ING for all our banking.
    This has pretty much made closing our ING an easier option.
    They offer nothing over any other banks anymore.

    NAB offers the same things ING does now with a much larger atm network
    The only thing is the FTF when buying from Overseas but that is easy fixed, NAB have a no FTF credit card and given i will be closing my ING credit card also will just switch to this one.

    Its really sad cause ING was a really good alternative for so long, now they just like every other product on the market.

  • NoPetNoKid on 26/08/2021 - 14:40
    -1

    International ATM Fee Increasing from $2.50 to $5.00 but will still be rebated up to 5 times per month*
    International Transaction Fee Increasing from 2.50% to 3.00% but will still be rebated*
    *Eligible Customers who use their card 5 times per month and deposit $1,000

    It is unlikely that people will deposit $1000 while overseas. So, no rebate really.

    • WookieMonster on 26/08/2021 - 14:43
      +2

      If you move $1000 between from a non-ING bank account in your name to an ING bank account in your name, that will satisfy the deposit requirement.

    • avoidfullprice on 26/08/2021 - 14:45
      +2

      They would need to deposit in the previous month, which is still doable?

    • stirlo on 26/08/2021 - 14:51
      +2

      If you're on annual leave you still get paid so most people using this as a regular account would be fine.

      As other have pointed out it's also easy to transfer savings from another bank which also counts.

  • sjj89 on 26/08/2021 - 14:58
    +8

    They keep making this account less and less competitive.

    Think it's time to bail on ING

  • nubzy on 26/08/2021 - 15:14

    They have gotten so bad. Started out great, and now totally uncompetitive..

  • c0lch3y on 26/08/2021 - 15:53

    5 is still something I guess…the overwhelming majority of us won't be travelling overseas anytime soon anyway…

  • Donaldhump on 26/08/2021 - 16:50

    guess that rules out the $200 lunch time withdrawal and immediate deposit back in at aus post.

    hsbc 2% rebate card is wicked though

  • Cluster on 26/08/2021 - 17:11

    The 5 ATM international withdrawal limit is a bit of a killer. In countries like India I had to withdraw up to 900 rupees (about $20) as withdrawing more meant getting a dreaded 1000 note, which virtually nobody can give you change for.

    I always wondered how ING could rebate local ATM fees, which I've seen go up to $2.80 per transaction. Sounds like they got tired of paying out so many times.

    The 1% rebate on utility bills is welcome though, as long as the company I use is on the list…

  • quinine on 04/09/2021 - 13:39

    For those talking about jumping ship, who else would you consider giving your business?

  • anonymous_coward on 04/09/2021 - 14:56

    I jumped ship at whatever their last ridiculous change was. The thing about having to increase savings before getting the bonus interest or something?

    These latest changes don't mention this at all so I'm a bit confused. I wonder if it means they have scrapped that. I hope so.

  • FredAstair on 09/09/2021 - 22:23

    although not everyone is into buying crypto coins, I found ING to not charge for these transactions.

    As my crypto asked for a credit card for transactions the ING worked like a credit card. 16 number card number on it, it was a debit card but was still able to use it for such transactions.

    Especially when I tried with one of the other major 4 banks and not only did the charge me for every purchase but wanted to do it as a cash advance. Wtf?!

  • gamma on 27/09/2021 - 14:15
    +1

    I wonder how many of you actually keeping this account but not keeping any money in it (like me). I have given up keeping any money when they introduced 5 transactions to get bonus interest as I hardly ever withdraw cash and 99.99999% of all transactions are online. I think they clearly indicates to me they don't care about keeping me so nudging me get lost.

    On top of that biggest failure in my view of ING is not allowing to do more than $1000 per day for payid transfers.. makes no sense.

    Now I use UBank. It might not have the highest interest rates and website/app may not be as fancy (and took forever to develop PayId transfers but end result I think was much better than almost all other banks) but they moved in making things better (unlike ING) and I'm happy (for now ;) )

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