This was posted 11 years 5 months 12 days ago, and might be an out-dated deal.

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Renew ING 5% Wave & Save Rebate / Auto Reverts to 2% with $2k+ Deposit a Month after 6 Months

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Renew ING 5% Wave & Save Rebate / Auto Reverts to 2% with $2k+ Deposit a Month after 6 Months
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muncan on 22/06/2013 - 07:51 ingdirect.com.au (4549 clicks)
Last edited 04/07/2013 - 09:14 by 2 other users

Note: there is no official confirmation yet that closing and reopening your account will reinstate your 5% wave & save rebate for another 6 months, this will become clear after July 1 when the original promotional period has ended.

Update 3 July 2013: From comments, users have reported that reopening their accounts reinstated the 5% wave & save rebate.

For those of us worried about our beloved 5% discounts coming to an end at 30 June (under the original promotion) - fear not! I'm happy to confirm… closing your account and signing up again will get you 6 more months of 5% discounts for all paywave purchases under $100.

Here's what I did:

  • Transfer existing funds out of ING & wait to clear
  • Ring ING on 133464 to close account
  • Next day: sign up again online, transfer some funds

I confirmed the 5% discounts on my new card, though it took 2 days for my transactions (and discounts) to appear in my transaction list.

Also, I got a call from a customer services officer… thankfully just to welcome me and explain how to use the card. She told me some un-promoted information:

  • After 6 months, the 5% discount will drop to 2%, providing you deposit at least $2k per month (eg. salary) … yeah, there's no need to do this for the current 5% discount
  • There is no end date (at this time) to sign up to receive 6 months of 5% discount
  • ING has a target goal of 30,000 cards for the promotion - so that's when this deal might end. How many OzBargainers we got, Scotty?

Also worthy of note is that when you close your account you'll receive an email advising that you can continue to log in to your closed account to see your statements for 2 years.

And of course, in December if the 5% promotion is still being advertised… then I suggest you close your account(s) & sign up again!

Happy spendings.

TL;DR:

  • close account
  • open new account
  • done

(thanks illumination)

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closed Comments

  • muncan on 03/07/2013 - 13:08
    +6

    Still waiting on 1 of my 2 transactions made on 1 July to clear… the one has cleared came with a 5% rebate, so it looks promising.

    • aec on 03/07/2013 - 14:29

      good news.

      • mily on 03/07/2013 - 20:17
        +2

        He might got in before the hole was found and closed. I will hold back and wait for evidence from other people, especially those who close and re-open account after some dumx raised this issue to the ING csr.

        • muncan on 03/07/2013 - 20:32

          True that. Anyone?
          Refresh. Refresh-refresh. Refresh!

    • daver on 03/07/2013 - 18:48
      +1

      top deal, first rate, and foremost important for Ozbargain~ great hack.

      • muncan on 03/07/2013 - 19:17

        Thanks daver! But still waiting for my second 1 July transaction to clear.
        Refresh. Refresh-refresh. Refresh! Why won't you clear!?!?!?

        Can anybody else confirm a reincarnated account with a 1 July transaction with a 5% rebate?

        • ozyack on 04/07/2013 - 04:08

          I'm guessing if your first one did get 5% the second one should do too?

  • Ahan on 03/07/2013 - 21:59

    Guys any update? I am closing my and my wife's account and will open a joint account to extend the 5% deal.

    • Minnie on 10/07/2013 - 12:50

      Is a joint account classified as new customer and therefore eligible for the 5% deal?

      • Ahan on 10/07/2013 - 20:28

        I just received my new card. Let's see. Anyway, from the feedback received from others, you will get 5% simply close and reopen.

        • Minnie on 11/07/2013 - 18:40

          really? not in my husband's case ! He did not get 5% rebate even through he closed his ING few months ago and reopened one recently.

        • Ahan on 16/07/2013 - 08:37
          +1

          Got to use a different customer number. That's the key

  • avihs on 04/07/2013 - 00:20
    +3

    Just a heads up for those of you guys who are rushing to close down their existing ING cards. Remember that if you have to return any items you purchased on the card, most supermarkets do returns onto the same card.

    Also, be sure to note the interest summary of the tax amount to be declared on the interest accrued before closing the account.

    So, be sure you would not need the card for any returns before emptying the ING account and going for a new one.

  • ozyack on 04/07/2013 - 04:10

    I am a bit hesitant about giving this a go as I hold a superannuation account with them. I wonder if closing only the bank accounts and using the new customer link should do the trick..

  • muncan on 04/07/2013 - 08:12
    +1

    I'm ready to call it folks. My transactions from 1 July and 2 July have both cleared now, all with a 5% rebate.
    Can anybody else who's closed & reopened confirm the same?

    • leeroys_dad on 04/07/2013 - 08:43

      yes, 5% for me too

      • muncan on 04/07/2013 - 08:54

        Right then, I'd like to edit my post with the verdict, but I no longer seem to have the rights to!
        Can a mod help me out please?

        • sintro on 04/07/2013 - 09:49

          muncan, could you please make it clear what your reopening procedure is? Close ALL accounts, including non OE? sign up as new customer?
          Thanks.

  • PissLUR on 04/07/2013 - 10:08
    +2

    Just sign up a new account. Mention that u arent an existing customer. Their system has no check at all for existing individua entries.

    Right now, i have 2 orange accounts under 2 user ids. Both are active and uses individual accounts.

    • muncan on 04/07/2013 - 10:14

      So you didn't close your existing account? Getting 5% on the new account?

      • PissLUR on 04/07/2013 - 11:49
        +2

        Didnt close my existing account.

        I received the new card yesterday with the full package. with the 5% cashback brochure. Haven't used the card yet. pretty sure I'll get the 5% cashback for the next 6 months.

        • kabigon on 04/07/2013 - 12:16

          That'd be very interesting if you get the 5% on the second card, keep us posted :)

        • muncan on 04/07/2013 - 12:30
          +3

          Yes please keep us posted. The 'PissLUR hack' may be the simplest yet…

          1. open new account and say No to Are you an existing ING Direct customer? (without closing any existing accounts)

          2. done

        • mily on 04/07/2013 - 12:34

          Yeah, but technically it's lying to answer NO when apply a second account, and there is less moral burden using your method.

          Although we know we are not new customers, but we just classify us as non-existing customer as we already closed our accounts.

        • muncan on 04/07/2013 - 12:41
          +3

          http://i.imgur.com/Tf9hKLd.png

        • spendinghacker on 04/07/2013 - 13:05

          I concur. The 'PissLUR hack' might be the one to rule them all (-;.

          I wonder what would have happened if OzBargain registered as political party for the upcoming election? Just floating it out there Scotty….after all, we have the pirate party already (arrrrr)

          Can anyone else confirm that the 'PissLUR hack' worked for them? Seeing that 2% off on my statement pisses me off!!!!!!

          Muncan, so basically you employed the 'PissLUR hack' with another step (i.e. closing old account under PREVIOUS client ID) that now seems to be redundant, right?

          I like collecting intelligence on the enemy before I strike….:-)

        • muncan on 04/07/2013 - 13:26

          Yup, I closed all my accounts expecting them to check their system for an existing account. According to PissLUR, they don't.

          I signed up again by creating a new account.

        • muncan on 04/07/2013 - 13:36

          Bear in mind…

          Should you use the Wave & Save Rebates in a manner that is not satisfactory or in line with the intent of the offer, we may place a stop or freeze on your account or remove the account from the rebate.

          Having said that, some of us have been very creative with payments which seem to have gone unnoticed.

    • tyler.durden on 04/07/2013 - 18:57
      -1

      But if u are lying..

      they can recover the funds later on..

      -
      Do you signup online or by phone?

      Does this trick work by signing up online?

    • oringal on 05/07/2013 - 01:38

      did you have to use different mobile numbers? or different email address?

    • spendinghacker on 20/07/2013 - 12:55

      I can now formally confirm that the "PissLUR hack" described above is EFFECTIVE.

      Thanks PissLUR…you are a legend! It's a true pleasure collaborating with fellow OB 'professionals' ;-)

      The key is to tick "NEW ING customer" when applying which will end you up with a DIFFERENT client ID than the one you currently have.

      Bottom line, if you finished the application process and you do not have TWO client IDs with ING, you have made a mistake

      The extra step described by OP (a.k.a 'the muncan hack') is not necessary. There is no need to close the account under the other client ID. Whether you do or you don't is completely irrelevant.

      OP, please update deal description (if still possible) to reflect this information which I am now certain is 100% accurate and complete.

      • muncan on 20/07/2013 - 13:19
        +1

        It would be nice if people closed their unused accounts afterwards, if the 30,000 card target I was told for the promotion is indeed true. Meanwhile, I'm going to sit in the redundant room, singing Kumbaya.
        Sorry ginmi, I'm no longer allowed to edit this post

  • Ronnnie on 04/07/2013 - 10:16
    +1

    This is great and all, much appreciate the info. This is why I love ozbargain, can't complain at free money. :)

  • zzsprade on 04/07/2013 - 11:54

    To close or not to close…. That is now the question.

    • muncan on 04/07/2013 - 12:32
      +1

      Try the PissLUR hack!

    • spendinghacker on 12/07/2013 - 16:38

      Multiple confirmations received that the 'PissLUR hack' is effective.

      No need to close anything.

      Just sign up as a NEW customer under a DIFFERENT client ID. That's it. Hack completed

  • niknah on 04/07/2013 - 14:32

    Is anyone else's old card still working?
    I never renewed and I still received the 5% rebate on a 1/july transaction.
    Have had the card for more than 6 months.

    • mily on 04/07/2013 - 14:37

      Did you receive the 2% cashback promotion email?

    • spendinghacker on 04/07/2013 - 15:28

      1. When exactly did you open the account?

      2. Are you sure you got a FIVE % rebate and not the reduced TWO %? Check your statement.

    • [Deactivated] on 04/07/2013 - 18:35
      +1

      Mine dropped back to 2% from purchases made 30 June.
      Closed account.
      See ya ing ill Move to the next deal

      • muncan on 04/07/2013 - 18:37
        +1

        This could be your next deal… :-)

      • c64 on 05/07/2013 - 17:55

        Mine dropped back to 2% from purchases made 30 June.

        a 2% rebate on purchases is still better than anything else you get from other banks

        • tyler.durden on 05/07/2013 - 20:12
          +1

          but u need to deposit $2000 per month..

          so it is not that great

        • tanoshiiki on 05/07/2013 - 21:14

          Day 1 of each month: Deposit $2000 from another bank account
          Day 2 of each month: Withdraw $2000 and return
          Repeat…

        • muncan on 05/07/2013 - 21:40
          +2

          Or…

          Month 1: close & reopen account
          Month 7: goto Month 1

    • niknah on 06/07/2013 - 12:48

      Sorry, it was 5% on 1/July, but at 2% now on the 6/July

  • TravelKon on 04/07/2013 - 15:31

    Can anyone confirm that this works for their maximizer saving account aswell? i.e. After 4 months, can you close your accoung, sign up as a 'new' customer and get the intro rate again?

  • tyler.durden on 04/07/2013 - 18:54
    -4

    How can we trust a bank that can't even check for previous ID entries..

    Guess it is not a good idea to deposit too much cash in this bank..
    except for paywave purchases

    • spendinghacker on 04/07/2013 - 19:36
      +2

      No need to scare people my friend.

      ALL deposits in Australia up to 250K per person per institution are 100% INSURED and guaranteed DIRECTLY by the Federal Government and its AAA credit rating.

      http://www.guaranteescheme.gov.au/qa/deposits.html#3

      As long as you keep less than 250K with ING, you have nothing to worry about. If they go under, the government will give you your money back in full, as simple as that.

      Either way, this account pays NO INTEREST so therefore you should not have more money there than what you plan to spend in the immediate future.

      So I guess your guidance is correct. It's just that your reasoning is slightly flawed.

      • tyler.durden on 04/07/2013 - 21:09
        -2

        yeah i forgot about the guarantee..

        Still I would just put enough for the paywave usage..
        and you can deposit more if needed…

        since the saving account isn't that great anyways

        But still a company that can't even check for previous entry..
        says a lot about their banking software..

    • tooblue on 04/07/2013 - 21:43
      +2

      Just because the bank is generous doesn't mean they are stupid. If you are really that concern you should avoid the bank at all. It's not only you money at risk but also your privacy.

      Yet on the other hand you keep asking for how to do the trick, online or phone. Split personality perhaps?

  • tyler.durden on 04/07/2013 - 21:11
    -2

    PissLUR:

    Does the trick work with signup for a new account online?
    or need to be done by phone?

    • PissLUR on 04/07/2013 - 23:49

      I signed up the 2nd account online.

      Now I just realised that I used different IDs for both accounts.

      The verification for my first account was done at the post office. Used drivers license.
      Second account was done online.

      It might be the reason why their system didnt catch it ;)

      • muncan on 05/07/2013 - 00:15

        I used the same identifiers used in my closed account for my new account.

  • daver on 05/07/2013 - 09:39

    Strictly speaking you establish yourself as the same individual, just produced by a set (ie. all true & valid) POI documentation combination in any checks, so the system will account you as two numbers, effective. I cant see flaw in that, apart from you run out of poi_identifiers that you are unable to repeat-clone yourself for CYR 2014 checks. Re-incarnation may yield that advantage: as that social engineering meant staff could put dormant any prev-submitted docs. Obviously the 2% (conditional 2K deposit; continuing) plus 5% (re-set Close/open) won't stack in any event, so whilst the scheme is most generous it is secure fundamentally.

  • ozyack on 05/07/2013 - 22:22

    No one knows what will happen when ING detects the fluctuation in closing and opening accounts, or increase in duplicate identities in their system. I believe there is no harm in trying (I don't think they would sue you for this :)) but just don't be surprised if they start cancelling the dupe accounts, or 5% discount there of.

    • muncan on 05/07/2013 - 22:40

      In event of a cancelled account, implement the simonsydney hack

      • ozyack on 05/07/2013 - 23:34

        Thanks mate but unfortunately my hard-core OB spirit had already got all close people around me open an account. Shame that I couldn't foresee this lol.

        • muncan on 05/07/2013 - 23:44

          Uhh…. try this? http://www.youtube.com/watch?v=8jxU89x78ac

        • ozyack on 05/07/2013 - 23:49

          Only if I understood where the 5% turnover was in this :)

        • muncan on 05/07/2013 - 23:53
          +4

          Sorry, I have to explain all my jokes…
          1) make a baby
          2) wait for baby
          3) sign up baby

        • ozyack on 05/07/2013 - 23:58

          Lol no worries I would have probably got it if I kept watching the whole thing but I couldn't resist closing it after I heard the guy singing :)

        • mily on 06/07/2013 - 10:39

          Pity the ING promotion only lasts for 6 months, not 10 months. So there will be at least 4 months gap unless guaranteed twins gene in your blood.

  • tyler.durden on 06/07/2013 - 16:33
    -3

    I think sooner or later they will catch onto this…

    they will tighten their system and either implement one or more of these
    -close the paywave 5%.
    -take back the money from accounts that were duplicates..
    -freeze and close those accounts.. and possibly ban you from opening future accounts

    It's in their terms
    http://www.ingdirect.com.au/everyday/Contactless.htm

    • ozyack on 06/07/2013 - 20:59
      +1

      I don't think they would go too far to close all your accounts.. Maybe only the dupe ones. They will still want to try to keep you as a customer.

  • sraymond on 06/07/2013 - 20:31

    I used the simonsydney hack. You just have to keep an eye on the balance as its not fair to attach a savings maximiser to it. Luckily you can make a direct deposit at most post offices and the money goes straight onto the card. Had to do that today as I wasn't really on top if it.

    • muncan on 06/07/2013 - 20:52
      +4

      Check out the new mobile app - it's amazeballs. Check your balance without signing in.
      Combine that with scheduled payments from your bank and you're laughing.

  • sraymond on 06/07/2013 - 22:55
    +3

    Yeah. Loving the new app.

    • t25 on 08/07/2013 - 00:02
      +1

      i dare say, its the best banking app i have used. the worst being citibank

  • wutang01 on 07/07/2013 - 22:09

    Are you guys actually signing up a new client number?
    I think I incorrectly opened a second Orange Everyday account (after closing the first one) with the same client number …

    • muncan on 07/07/2013 - 22:40

      Yes, you need to become a 'new customer'

  • Caped Baldy on 08/07/2013 - 21:46

    I was on the normal everyday and I'm now getting 2% cash back. Anyone else?

    • spendinghacker on 09/07/2013 - 13:20

      Yes. Everyone!

      Anyone who signed up for the 5% rebate last year has been downgraded to 2% rebate instead of 5% starting from July 1.

      From August 1, even this 2% rebate is not guaranteed and is dependent upon you depositing at least 2K every month to the account (but you do NOT have to keep it there).

      This is the whole point of this entire deal: how to 'hack' a continuation of the FIVE % rebate. The proposed solution is to open a new Orange Everyday account under a DIFFERENT client ID (this is crucial) and it seems like it has worked for several people here.

      I am not yet in a position to confirm or deny whether this solution actually works as I am yet to test it myself. Will probably be able to give definitive answer by the end of next week.

      • jimbobaus on 14/07/2013 - 00:09

        I'm still getting 5% and I was under original offer.
        It didn't revert back to 2% at all.

  • Minnie on 10/07/2013 - 12:57

    My husband closed his ING a/c half year ago and recently open one for the 5% rebate from Jul onwards.

    He is unable to receive the 5% rebate and was told by the ING that he is not eligible for the 5% rebate because he is not a new customer and had used the ING a/c before (even through he closed it already)

    Can anyone give me some tips how to get the ING 5% rebate again?

    Many thanks.

    • tooblue on 10/07/2013 - 13:42

      Did he use the same customer number to open the new account?

    • c64 on 10/07/2013 - 14:52

      so far, no one has boasted about getting a new 5% rebate period from closing/opening an account, so at this stage i assume it doesn't work.

      • PissLUR on 10/07/2013 - 15:07

        it does work ;)

        • Minnie on 11/07/2013 - 18:42

          How could you do that? mind to share that with us? Appreciated !

      • muncan on 10/07/2013 - 15:28
        +3

        I would have updated the deal if I wasn't locked out from edits…
        Here's a screenshot of me boasting about renewed 5% rebates confirmed

        • INFIDEL on 10/07/2013 - 16:15

          Nice one… Myth CONFIRMED ;)

        • spendinghacker on 10/07/2013 - 18:20
          -1

          You are a CHAMP OP!

          Hack has now been engaged (new account under new client ID) so waiting for my new card. Hope it works out for me too.

          This is the spirit I would have expected from a place like Ozbargain. Thanks muncan and everyone else.

        • muncan on 10/07/2013 - 20:20
          +1

          Thanks ginmi. Did you employ the muncan or PissLUR hack?

          My next project is to 'hack' unlimited free deliveries with Woolworths Online - ie. new account for every 'first order' :-P

        • spendinghacker on 12/07/2013 - 16:30

          PissLUR hack employed.

          Old client ID will remain active as I have business savings account with ING (business optimiser).

        • spendinghacker on 12/07/2013 - 16:31

          Would be very interesting in that as well.
          ANY hack is a good hack!

          Once hack discovered and effectiveness confirmed, I would appreciate if you could post a new deal.

          Cheers

  • INFIDEL on 10/07/2013 - 14:15
    +1

    Just in case, I bought up some Woolies & Coles $99.99 Gift Cards on 30/6 on old card.
    Coles billed on 30/6 so 5% rebate, Woolies on 2/7 - only 2% rebate :(
    Sent a message to ING expecting usual T&C debate, but got this positive response…
    I have now credited your account with $43.03 which is the 3% difference on the 16 transactions made on the 30/06/2013 however processed by the merchant after this date.
    I was only after $33 :) Now to get new card.
    Good idea to check rebates if using old card & complain if end of month purchases were billed as in July.

    • c64 on 10/07/2013 - 14:41

      you're right. i bought some gift cards on 29/6. coles processed them by 30/6. woolworths was slow to process them 2/7. boy did i get some evil stares from checkout chicks

      the t&cs simply state the paywave transaction must have taken place during the promotional period. nothing to do with the processing.

      • c64 on 10/07/2013 - 20:53
        +1

        i sent a secure message using internet banking and it has all been sorted today. very good customer service.

  • cooni on 10/07/2013 - 19:31

    My transaction hasn't cleared yet but I actually received a call from ING today asking if I had any questions and confirming the 5%.
    She also said after 6 months it goes to 2% only if I deposit $2k/month.

  • tfb on 11/07/2013 - 11:26
    +1

    I didn't bother closing my other accounts with them, just signed up for a joint account in mine and my partners names. Both cards are getting the 5%

  • cooni on 12/07/2013 - 08:38
    +1

    Ok, so my transaction cleared with 5% rebate.
    This is what I did:

    Close account over phone (Orange Everyday and Savings Maximiser, leaving my Living Super account open).
    Open new Orange Everyday account online the next day, saying I'm not an existing customer.

    I was issued with a new client number at the end of the online application.
    I now have two client numbers, one only shows my Living Super account, the other my Orange Everyday account.
    As stated above, I even received a welcome call telling me about the 5% rebate.

    Another 6 months to add to my $350 odd worth of rebates I've received so far :)

    • spendinghacker on 12/07/2013 - 16:34

      Yep. This is known here as the "PissLUR Hack".

      Yet another confirmation the hack is effective. Clear to engage!

      • muncan on 12/07/2013 - 20:25

        What worries me is the PissLUR hack might see the rebate offer come to an end sooner than we would want…

        ING has a target goal of 30,000 cards for the promotion

        • PissLUR on 12/07/2013 - 21:43

          Yeah hopefully that offer is still around in nov/dec. so that I can resign up as a new customer and get another 6 months.. :D:D

        • spendinghacker on 13/07/2013 - 15:32

          The early bird catches the worm.

          Most stuff on Ozbargain is time sensitive and aimed at action takers. Not procrastinators. :)

  • jimbobaus on 13/07/2013 - 23:55

    Two things:
    1) ing are now blocking this offer to any customers who have held accounts within the last 12 months
    And
    2) it's mid July and I am still getting the 5% even though it was meant to end and I didn't need to close and reopen my account to get it.

    • nfr on 14/07/2013 - 10:35

      Did your 5% start this year or last year?

    • sharethelove on 16/07/2013 - 17:01

      How did you know that ING is now blocking this offer to ex-customers? Thank you.

  • azz on 14/07/2013 - 17:30

    I closed my existing account and opened a new account with new customer ID as well.
    For some reason they can't verify my identity with the new account, but after going to the post office and verifying my identity there I suddenly got a new card in the mail yesterday linked to my old customer ID saying "Thanks for opening your SECOND account with us". No mention of any 5% or 2% offer in the letter either…

    Hope nobody else suffers the same sad fate.

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