Just in case any OzBargainer (or family, friends, enemies) doesn't yet have an ING account, ING has done it again.
Min Deposit $1000. %5 Cashback offer on Visa PayWave still applies.
From their Website:
"To receive the $75 bonus you must be a new Orange Everyday customer and first register your details below. Then open an Orange Everyday by the 30th June 2014 and deposit your salary (at least $1,000) by the 31st August 2014."
Enjoy!
I opened mine 2 weeks ago :(
I opened mine 11 months ago :(
My second 6-month period ends in a few weeks… edit: wish I could close and reopen my account.. :(
how did you get it twice?
Actually, you can. As long as you think it's worth the trouble
Initial sign up, then friend referral I'd say
Correct, referred my fiance so they gave me an extra 6 months around December
Can this be done for both $75 scheme and also referral?
As for both there are different pages to enter details? Anybody tried?
Anyone got the $50 yet from last campaign ? It was to be credited by yesterday 26-May-2014.
Just checked and no I didn't. Played by the rules, kept the correct balance etc no dollarios :(
My wife received the $50 last week as "Miscellaneous Credit" :)
This happened to me, give them a ring and then they 'check with the manager' and they gave me a ring back a few days later and wa-la! 50 deniro's.
received mine last friday :)
Did it come up as "Miscellaneous credit"?
yes my came in as Miscellaneous credit last week
yes
same here
Received last week.
received mine last week, also as Miscellaneous Credit. About 7 weeks after account opening
time for the wife to get one :)
Anyone know if a joint account with two existing members is considered a new account?
No, if only one of them was an existing customer, it taints the Joint account.
Hehe. Taint.
Its weird that ING's $50/75 bonus is counted as tax income, whereas ANZ's $100 bonus is not.
How do I know? If you didnt supply TFN and got the bonus, ING withholds partial of the bonus payment, whereas, ANZ does not.
anyone has any explanation?
i reckon ING put the bonus as part of the interest income whereas ANZ treat the bonus as an actual once off bonus.
The Important Information section includes this:
A tax liability may exist with the payment of the bonus payment.
with the assumption that this is a loytalty "program" as you have to stay with them for a period of time, and behave in a certain manner (deposit money).
According to ATO:
Rewards received from consumer loyalty programs
Income Earning Activity
-there is a business relationship between the recipient of the reward and the reward provider; and
-the benefit is convertible directly or indirectly to money's worth; or
-the taxpayer is carrying on a business, and section 21A of the ITAA 1936 operates to include the reasonable value of the non-cash business benefit in the taxpayer's assessable income.
http://law.ato.gov.au/atolaw/view.htm?docid=PSR/GA20044/NAT/…
It should be taxable income as its derived from having your money in the account for a certain period of time -> there is a nexus between the bonus and your money
Cannot agree.
It's once off bonus and not repeative, it should not be treated as assessable income.
can not be just normal transfer?
My first transfer to it was classified as salary.
it means an (external) deposit from any other bank
You can simply transfer money from other bank into ING Everyday and you are qualified.
"deposit your salary (at least $1,000) by the 31st August 2014." Does this mean the $1000 has to be deposited from a company?
i like to know this too. bit of a hassle to get my salary changed to this. then change back
I just did a one-of deposit last time and it was fine.
what about money from overseas? My dad was gonna send me some $$ for school.. will be in $USD but should be over $1000 AUD when exchanged.
It's $75 for nothing.
In the hope you actually use/enjoy their services. Lazy and zero interest in even giving them a chance, for their $75.
Don't join.
Nope. The $1000 simply has to come from ANY external account (i.e. a non-ING account).
You can withdraw the money the next day if you wish and then just sit and wait for your cash :)
I meant my comment had been reposted! and I get negged!
Deposit via an Australia Post outlet works too and it's really convenient.
Deposit via an Australia Post outlet works too and it's really convenient.
You think so ? I'd have to say the hassle of writing a cheque or taking >$1000 cash into an Oz Post outlet, queuing up, making the payment, is way less convenient than doing an internet transfer.
just my opinion.
Maybe his aus post is round the corner, with no queue and hes got a grand layin about, just sayin.
Anyone know if this will stack with the email some people got re: $250 iconic gift card?
I received the email and was going to sign up on the weekend, glad I was lazy and forgot so hoping they stack!
Sorry to add this into this post but i wanted to let you know i have a general code for new Ing orange everyday new customers to get the Iconic $250 gift voucher deal for the first 5000 people who register with this code and qualify, its "lovingINGDIRECT". Since the promo started I think they changed the terms to offer their own code. Go to www.ingdirect.com.au/theiconic. I got this code when I ordered from the Iconic and I registered my order number (which you can do also).
so does that means once can get
1: 250 GIFT Card +
2: 75$ Credit +
3: 5%
or
combination of ( 1 & 3 ) or ( 2 & 3 ).
Thanks
Just 1&3 I believe.
This $75 bonus payment offer is not available in conjunction with any other promotional offer.
Any way for existing customers to renew?
Probably not unfortunately. :(
ING have clamped down hard on account 'recyclers' and have tightened-up their IT systems.
I tried during the last promo and they found me immediately even though I used a new client ID. They did open the account but linked it to my existing client ID and I was not paid nor got the 5% off cashback (only 2%).
If you were an ING Direct customer in the past but are no longer one and have been out of their systems for at least 6 months, I'd give it a go
Only new customers to Ing direct as far as I know, maybe sign up members of your family and split the rewards!
Received it last week, about 7 weeks after opening account.
Didn't receive, should I call up to complain/ enquire?
I need another wife to get one
not cost effective
exactly!
True ozbargainer will not have a wife.
or hubby
Now kiss
Or friends, unless they are other OzBargainers.
Or kids
Or friends with benefits….
your doing it wrong!
I do have a savings account with ING,, do i still qualify for this because I don't have an ING orange everyday??? someone please answer before I waste my time opening a new account. thanks!
If you NEVER held an ING Orange everyday account (saving maximiser is OK) you do qualify so hurry up and apply.
Based on previous experience with these deals, ING can withdraw the offer at any time and before the official expiry date of the promo (they have done that several times in the past). However, they will honour the promo for everyone who applied before the cut-off.
Yeah i got it from the last campaign for $50, I just transferred from my salary account to the Bankwest account (for QFF) then transferred again to ING then back to the salary account. Did it twice in the month (fortnightly pay) and it worked! so transfers back then seemed fine…
I do that too… when my salary comes it goes to: ING Direct -> Bankwest -> UBank. If you do the transfer early enough sometimes you can do it all in one day. Bankwest is a bit slow though. Don't these banks know we're bouncing a bit of money around?
i made an account freaking yesterday
There's no start date on the T&Cs, so perhaps you'll be ok. Register for the deal and see what happens.
How does that justify negging the deal?
Is there a catch with this? What ATM's can be used? Can I still use a different everyday account?
Do I have to keep the account open for a certain amount of time or can I close it after the 6 month period?
Thanks.
Edit: Does this account gather any interest?
a great offer
when are they going to have a referral campaign again? my 5% cashback is going to run out any day now (6 months from 27/12) :(
This may not be in the spirit of typical OzBargaining… more a curiosity! :)
If you already have a fee-free bank account elsewhere, are there any lasting benefits to signing up for Orange Everyday?
Cheers
even after the 5% cashback runs out you still get a 2% cashback which imo is better than nothing and better than anything other banks offer
plus they offer $0.50 bonuses for $200 eftpos cashouts :)
Are transfers to/from ING accounts quick? I don't know who they partner with.
Thanks for the replies, very informative.
you still get a 2% cashback
Provided you deposit at least $2,000 a month otherwise no cashback for you (love that Seinfeld episode!) ;)
I have other fee-free bank accounts, but use the ING card is my main transaction account.
This is a must for any ozbargainers.
After it falls back to 2%, I wonder if it's better to charge the purchases to reward credit cards, e.g. the Citibank Signature card?
No, even at 2% cashback, it is still a win.
provided you have a monthly deposit of $2000 ie
@tukanglistrik: I'm on a good credit card rewards points system, plus with an average 30 days interest free on purchases (0-55 days depending on the day of the month) which saves me 5% home loan interest, I still only average a saving of 1.25% on credit card transactions. So yes, even at 2% cashback the ING account is better than any credit card.
However, if you have a home loan (and attached offset account) then to make most use of the ING account you need to keep as small as possible balance in the ING account as it earns lower interest than in a loan offset account.
Hope this helps
Thanks for the lengthy explanation!
I tend to do that :)
I used the ING for 5% but not worth it for just 2% IMO. My credit card gives me rewards equivalent to 1.65% (based on a $100 Bunnings gift card) and by using the banks money rather than mine, my money stays in my offset account saving me around 5% on that amount off my home loan. Assuming it is there for 30 days before having to pay off the credit card, that saves me an equivalent of 0.41%, so I'm saving around 2% total just by using my credit card and not having to worry about constantly transferring money to my ING account (and making sure I transfer $2k total a month to it).
@syba: what credit card do you have that gives 1.65% rewards? If it's AMEX 3x points can you get the 3x points anywhere or just travel/flights?
Westpac Altitude Black. I think it has a high annual fee but I don't pay it. Comes with Amex and MasterCard/Visa. Get 3 points on Amex and 2 points on the other. I found anyplace that has the paywave facility also accepts Amex. I get 3x points on any Amex purchase. Exact percentage payback is 1.64835% but say 1.65%
Thanks
You get 3 points for Amex and 1 point on the other.
yes, when you ask for a refund, select the savings option.
Scamming is not bargaining.
Somewhat related. What methods are there in purchasing an expensive item? Let's say I wanted to purchase something in store that was valued at $30,000. I don't have a credit card. I don't have a cheque book. I'm not willing to bring a bag full of cash. What other ways can I easily pay for the item?
You can request a bank cheque from them.
From my bank institution? Sorry, I'm a complete noob.
I assumed you were talking about the ING Orange Everyday account, so yes you would be requesting the bank cheque from ING and to source the funds from your ING Orange account.
Okay, so if I got a cheque valued at $30,000 and the retailer says they will firstly accept a down payment of 50% and accept the remaining 50% when the item is ordered in. How will this work?
Would I have to deposit the cheque at the bank and turn it into two cheques instead?
Yes, or just pay the full amount upfront.
Getting a bank cheque usually incurs a fee.
Just opened my account a week ago. :(