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

    • jm48 on 14/07/2013 - 18:28
      +1

      They might have to changed the system to make it stricter.
      I wouldn't be surprised if some of the numbnuts (that reckoned that reopening to renew the 5% is somehow dishonest) rang ING and told them what we are all doing.
      Wonder if they could make stricter rules retrospective.

    • ozyack on 17/07/2013 - 00:37
      +1

      That's sad mate. I just received my card with the rebate flyer. I will write more on this below, maybe it might help you if you have a middle name.

  • ozyack on 16/07/2013 - 11:15

    After seeing some people getting the 5% without closing the current account and only registering as a new customer, I decided to do the same on 10/06, but I still haven't received my debit card although people seem to receive it in 2 days or so. I am afraid to e-mail them about this as they might see my dupe accounts while checking on my card. So I am waiting nervously lol. Maybe the reason it hasn't been sent yet is too many cards being processed. Or they have decided to act against this "hack"..

  • ozyack on 17/07/2013 - 00:48
    +1

    Ok guys, apparently I was not patient enough to wait for the debit card. Today I received it with a letter addressing to me as a new customer, attached with a 5% cashback flyer. All I did was to apply online as a new customer, WITHOUT closing my current everyday and savings accounts.
    BUT…..
    I have just realized that I have not included my middle name to my new application, whereas my previous account had my full name. I did not intend to do this, funny enough, but it might have actually helped me to be recognized as a brand new person in the system! ID verification form states that middle name is not required.. So..
    I suggest to anyone who has a second name not to use it for the new application, or use your full name if your previous account doesn't have the second name already.
    I will still update when 5% cashback clears in my account, but from the new customer letter and cashback flyer, I am almost certain it will!

    • muncan on 17/07/2013 - 08:13

      I used exactly the same details in my new application. Though I did close mine by phone the day before opening a new one. So many variables! You'd think we have enough OzBargainers to test all theories.
      IMHO, it's in ING's interest to keep us OzBargainers happy as many of us (myself included) love to brag to everyone how fantastic it is. Keep the gravy pouring ING!

      • ozyack on 17/07/2013 - 14:17

        azz said above that he cancelled his previous accounts like you did, but his new card arrived as linked to his previous customer number. So, I am guessing since you were one of the first (maybe the very first!) to try this out, "first come first serve" occurred here. I'm sure we are helping ING advertise more than they could do normally and for the cost of 5% cashback they must be very happy with it considering their usual advertisement budget! However, it also looks like they don't like allowing flaws in their system if azz is to be followed by others to receive a "no no". That's why I suggest anyone who will open a new account to try the middle name trick as above, bad luck if their parents were tight-arses about naming them :-)

        • muncan on 17/07/2013 - 15:13

          Flashed my ING card at lunch today. And by flashed, I mean: waved it around in front of everybody and did a little Elaine dance.

        • tooblue on 17/07/2013 - 15:53

          Flash youself in front of everybody??

        • muncan on 17/07/2013 - 16:48

          The card. The card!

  • outlander on 18/07/2013 - 16:20

    I closed an account before june 30, and then applied for another early july. Can confirm that I am now getting the 5% rebate. Card took 10 days to come.
    Great if you can combine it with the savings maximizer $50 deal

    • PissLUR on 18/07/2013 - 18:39

      damn. didnt know about the $50 bonus. I should have applied the BONUS magic word when applying.

      • muncan on 18/07/2013 - 19:03

        Um, close it & reopen again??
        Or in your case PissLUR… just open it again :-P

      • sintro on 20/07/2013 - 12:21

        And not even the 4.75% interest rate.
        It's only showing 3%! Losing money!

        Thinking about closing it!

  • ozyack on 22/07/2013 - 00:36

    I can confirm getting 5% cash back on my transactions as well. I also emailed them the savings maximiser for getting the 4.75% interest plus $50 bonus offer. They said I am already getting the 4.75% but since I applied for the savings account before $50 offer started I would not be getting that $50. I replied back to say that's not good customer service if I am losing only with 1 day or so whereas I am still a new customer, I should get it or just close my account ( I can open one later on anyway lol). Am I being too much? :-)

    • spendinghacker on 22/07/2013 - 17:07

      No you are not!

      They deserve what they are getting with such an attitude!

      No need to close any accounts. Just open a savings maximiser as a new customer with a new client ID (this is crucial).

      End of story. No reason for you to forego $50 cash!

  • coolhead on 26/07/2013 - 13:18

    Has anyone successfully paid there utility bills..?
    Just came back from austpost and they declined my optus, telstra, city west water and lumo gas & electricity bills :(

    said maybe these billers dont take payment thru pay pass?

    :( .. i was hoping to saving some money today but will have to pay thru usual process

    • cooni on 26/07/2013 - 13:50

      I'm guessing those billers do not allow payments using credit (as opposed to cheque/savings)

      • coolhead on 26/07/2013 - 14:10

        Thanks cooni, yeah so it is that when we select pay pass.. its a credit transaction?
        i pay my water bill thru credit anyways

        • hamza23 on 26/07/2013 - 16:01

          Paypass is a credit transaction, so unfortunately you can't get around it by using cheque/savings.

          The majority of bills don't allow credit at the Post Office, which is why you can't use paypass. I also tried a few and had no luck, yet to find any bills that accept credit at Aus Post.

        • illumination on 27/07/2013 - 00:22

          I've paid my Origin bills at Auspost and I'm not alone. I recall seeing other Ozbs posting about doing the same.

          I don't know of what other bills you would be able to pay with Paywave though.

        • spendinghacker on 27/07/2013 - 07:36

          Origin definitely allows credit payments via PostBillPay. 100%!

          Therefore, all Origin bills can be paid at the Post Office using PayPass (provided they are for less than $100) so 5% off is available.

        • illumination on 27/07/2013 - 14:00
          +1

          Even if they're above $100, you can still split it ;)

        • sintro on 06/08/2013 - 16:04

          I tried using the Auspost self serve terminals to pay for Energy Australia, AGL and Council fees and I wasn't able to pay via credit card.

          Anyone else tried?

  • coolhead on 27/07/2013 - 22:29

    thanks guys for your response but the ones that i mentioned about definitely don't accept it..

  • Splashtash on 06/08/2013 - 14:49

    um….so don't need to close account? I was just thinking of the process of them requiring tax file number? if they need it for tax purposes then they would see the 2 accounts under ur name~ but im guessing u don't need to provide ur tax file number.

    Its just that once my partner applied for an account like 3 years back and got the bonus money but not in full because she didn't give her tax file number ,,,

    • spendinghacker on 07/08/2013 - 18:51

      Don't worry. You can feel free to provide the TFN.

      ING systems work purely around the client ID.

      They are not 'smart' enough to figure out that if multiple client IDs have the same TFN then it's probably the same person…;)

  • daver on 08/08/2013 - 16:46

    This is true. For my renewal I followed the hack of least resistance, and it simply work to sign up using the same details identical procedure I used in the first instance — but for clicking 'new' customer check box — & from then you are treated a unique client ID no.

    As a showing of goodwill I immediately transferred the few cents I had remaining rebate from the 2% relegated card, to my re-generated, internal OE account with my view to marking the old DC down as 0.00 balance & finished.

    But be sure to finally click activate from the LHS menu — it's the one thing that had me perplexed at the shops a couple of times, until I realised what I had overlooked.

  • lgacb08 on 12/08/2013 - 21:17

    so today i received my new ING Visa debit card, sadly no 5% cashback. I did close my old account, open a new one with exactly same details and got a new customer number. But when the id verification is done, i got the new account opened for the old ID, when I log into the new id, nothing in there.

    • spendinghacker on 13/08/2013 - 16:50

      That's not good. It is possible to ING have figured out what's going on and have plugged the gap in their IT systems.

      1. How did you do the ID check? Was it:
        A. Online
        B. At an AusPost branch

      2. Has anyone else experienced the same issue?

      Try logging into your new client ID and apply for a new OE account from within the new Client ID.

      Finally, have you tested the new Visa debit card? Are you 100% sure you are not getting 5% off on it?

      • lgacb08 on 13/08/2013 - 21:32

        I did the id verification thing from auspost as I have victorian licence.

        I tried log in the new id portal and the interface looks like my application has never been verified, so I pretty much cannot apply for another OE account while waiting for the already activated one to be activated, if you know what I mean (I still can doenload the id form, which you cant if your account has been verified)

        And the new account has no 5% cashback leaflet that supposed to come with the card so I dont think it worth making a transfer to activate the account and the card, and make the purchase and wait for a few days. Thanks for the advice but for the probability of 99.99% that it wont worth, I wont waste my time again on this account.

  • MkVIGTI on 16/08/2013 - 09:20

    I have closed my original OE account and re-opened, no 5% cashback for me either…

    • spendinghacker on 16/08/2013 - 11:38

      Did you open the new OE account under a different client ID?

      If not, this is why you are not getting it. The 'jist' of this deal is not closing the existing account. It is about opening a new account under a new client ID.

      • lgacb08 on 23/08/2013 - 18:24

        Yeah, I did open with new client ID but they added account to my old client id instead. I only got 2% rebate.

      • daver on 24/08/2013 - 00:22

        auspost

        @lgacb08
        may be a fly in the ointment there.

        • lgacb08 on 24/08/2013 - 14:19

          what choice do you have when you have a vic licence then!

  • ozshaz on 24/08/2013 - 17:21

    I have not used my new card ( after cancelling the old one and reopening with a new client id) till yet but is there a way to find if 5% has been provided for my card ? The letter did contain the 5% off flyer though.

    • spendinghacker on 25/08/2013 - 12:58

      The letter did contain the 5% off flyer though

      That means the probability you will get the 5% off is very very close to 100%. You're all good :)

  • King Tightarse on 26/08/2013 - 15:25

    So what is the current "best practice" for a Victorian with this? I can't work out why some do and some do not get the fresh customer number - perhaps it is just luck?
    Anyway, my current status is that I have emptied my ING accounts (previously scoring the 5% now down to 2)I have both a Savings Maximiser and an Orange Everyday account and I was just about to ring them before I checked back into this thread.
    Now I am unsure as to whether to close the old ones first or just go ahead and open a new one???

  • natluvu on 28/08/2013 - 00:07
    +1

    maybe this is a silly question but it's been bugging me that i'm not sure so i just better check with you.
    so do we need to add up all the rebate money we got back and put in tax return lodge? if yes, which section I need to put the amount in? thanks heaps guys

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