Variable welcome rate of 5.60% for first 4 months (for new customers only) plus a $30 cash bonus when you make your first deposit by 14/07/12
GET $30 Bonus for Signing up a New ING Savings Maximiser Account
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ING are pretty honest, read the t&cs, there are no hidden costs.
The $30 is not a bribe, rather an 'incentive'.Is that what it is…. here i was thinking it was a slap in the face to all existing customers who are enabling this "incentive"..
i agree. i moved to u bank for just this reason
Hilal…you dissed the lingerie deals, you diss this deal.
Why are you in Ozbargain if you hate saving money?
Question is, if we sign up now and then hold the account for however long is necessary and then close it, are we still eligible for future 'incentive' promotions?
don't banks keep your records for 7 years or so? so maybe after 7 years you will be a new customer
it's on online account so i don't think they even require id verification at aust post - a deposit from a linked account with the same name from another bank suffices. you will need to verify your id if you want to open an orange everyday account though (wait for a similar promotion for the orange everyday)
the interest rate is comparable to ubank for 4 months.
they used to have periodic referral promotions for existing maximiser account holders but they haven't had one for over a year now i thinks
It states that they will deposit the $30 into your account 2 weeks after you make a deposit. Take money, run.
it all depends on what the terms and conditions of the future promotions say. They may exclude existing customers, or previous customers. If not, then the bank has to stick to whatever the advertised conditions of the promotion is.
from the site:
The cash bonus will be credited to your account within the first two weeks following your first deposit being made
Note that you must link the new savings account to an existing account under your name (with another bank)
I remember these. Ive had my ING Savings account when they gave $100 back a few years ago. I havent closed it it still has 0.01cent in it. lol
Nice one.
I originally signed up when they gave away $123 (not sure if same promotion), but apparently it was because signing up was easy 1,2,3… Banks don't give away money like that anymore!
What about us long-suffering $0.00 balance ING savings maximiser and orange direct customers who are just hanging out for another free cash offer? ING used to be so good at giving away cash…whatever happened to that!
+1 ive been a customer for years. Im waiting for another everyday accounts deal
UBank uSaver is currently 5.51% if you deposit at least $200 a month (ASP). Otherwise 4.91% standard variable rate.
ING Direct is $30 + 5.60% (4 months only). 4.00% standard variable rate.http://www.ubank.com.au/ub/web/usaver/online-savings-compare…
the 5.6% is not guaranteed for the 4 months, hence it could decrease (no chance of interest rates going up in the foreseeable future)
ING Direct cash bonuses are crap, because they classify it as "Interest". Meaning you will get taxed for it, or reported to the tax office if you don't declare it as income. Not worth the trouble. Why ING voluntarily chose to classify it as interest, I have no idea, especially when ING gets no benefit from it. Maybe ING likes the tax office? All the other banks' cash bonuses are not considered interest, only ING does this stupid thing.
Maybe because it is "income" and therefore it needs to be LEGALLY reported to the ATO….
It should be a conditional gift, not income.
You can get around it if you talk to your professional accountant.
Not your chinatown ones though.
However, probably not worth it.
some banks might classify bonuses for promotions as "miscellaneous credit" etc, but that does not necessarily mean you can ignore them for income tax purposes
Good point. It's especially relevant to people on Centrelink benefits who must declare new income and bank accounts. They ask for your TFN so Centrelink will end up finding out about it anyway even if you don't tell them (and then they might penalise you according to Centrelink's deeming rates).
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Just applied. Will see how it goes, but the interest rate is attractive tho. Better than ANZ's 5.5% deal
These offers aggravate me, rather than giving money to new customers try taking a bit more care of your existing ones.
I know I'd prefer to see a message saying "to our wonderful an loyal customers we are offering an additional 0.20%P.A for the next 4 months."These incentives may get a few people signing up but after their payout they will move on, taking care of your customers will have them talking and will spread word of mouth about how satisfied they are.
RaboDirect offer their bonus rate to existing customers for new deposits.
You're not alone, but dont say it on here or you'll get negged.. Its our money in these accounts which is essentially being used to fund these stupid "incentives" and the savings Interest rate of return is pathetic thanks to the constant drops in the home loan rate due to people who have over capitalised.
There really is no benefit to saving let alone being loyal anymore.
true about the savings interest rate…but in the last couple of years cash has probably been a better option for most when compared to shares or even property.
The net return after tax and inflation on these savings account is pretty close to 0%!
ING is pretty good IMO. Great customer service and money goes through fast.
do they ever have a deal for existing customers??
Show me the money!!
If I have an ING everyday account, can I apply for the saving account and get $30 bonus?
yes according to t&cs:
"This combined offer is applicable on the first Savings Maximiser that you open (including joint accounts) and is for a limited time only. "
How much does my first deposit have to be for me to qualify for the $30 cash bonus?
Thanks guys, I'm looking forward to your comments!
Edit: P.S What are the customer benefits with this account?
Do I get a free visa debit card linked to the account with unlimited free visa card transactions including ATM?
What is the monthly account fee for this account?
No visa debit card, this is a high interest bank account that is linked to your standard bank account.
Most standard bank accounts offer 0.1% on your balance, whereas ING gives 4%P.A + 1.6% bonus for the first 4 months.
No account fees and unlimited transfers, no minimum monthly deposits or maximum withdrawals.
Shop around though I believe that Ubank is offering an account that is virtually the same with a higher interest rate.
I'm personally with ING and I've been very happy with their services, they state it could take up to 2 buisness days although it generally takes ~12 hours.UBank is actually lower at 4.90% base rate and 5.51% bonus rate (if you deposit $200 or more a month).
Also transfers seem to take overnight for me, St George, ANZ and UBank.
has anyone received the bonus yet…signed up on the 21st..yet to receive…
I signed up on the 18th, bonus $30 was in my account today.
signed up on 18-05 and got bonus on 28-05
Anyone know if you can close down all your accounts and then re-apply (is there a specific period to wait?) so as to receive the new bonus on offer? Being an existing ING Direct customer sucks.
Hey. Does anyone know what the minimum deposit amount is? Is a $1 deposit sufficient?
yea what is the minimum deposit amount? and lets say joint account also included, if Person A and Person B opens a single name account respectively, and they open a joint account A&B, can they get $30 x 3 = $90 in total?
I closed my ING a/c half year ago, am I still qualify as a new customer? any T&C link would help. Thanks~!!!
onlyletters on 18/05/2012 - 07:33 Comment score below threshold.