ING Direct - Orange Everyday Account (inc. up to 3×$20 Bonuses & 50c Bonus on EFTPOS $200 or More)

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ING Direct - Orange Everyday Account (inc. up to 3×$20 Bonuses & 50c Bonus on EFTPOS $200 or More)

applebyte on 19/09/2009 - 20:07 orangeeveryday.ingdirect.com.au (3197 clicks)
Last edited 21/03/2010 - 12:34 by 3 other users

Free Bank Account!

Use EFTPOS to get $200 or more cash out when you’re making a purchase, to get a 50c bonus (yep, we’ll pay you to take the money out)
You’ll receive a $20 bonus when you make your first purchase using your Orange Everyday Visa Debit Card
You’ll receive a second $20 bonus when your first salary is deposited
And you’ll receive a third $20 bonus when your first direct debit is set up and withdrawn
But you need to be quick as these bonuses will only be paid until 4 December 2009
Zero ING DIRECT dishonour fees
Free online bank cheques
Free SMS Security and Email Alerts
Free spending tracker
Free instant transfers to and from a linked Savings Maximiser or Savings Accelerator
Free unlimited ING DIRECT online transactions such as BPAY and Pay Anyone in Australia
Great rates on International Transfers
Instant access to your money with your Visa Debit Card anywhere Visa is accepted and EFTPOS is available
No monthly account keeping fees
Free use of every ATM in Australia when you withdraw $200 or more
Free unlimited ING DIRECT online transactions such as BPAY® and Pay Anyone

Mod - edited title, description and expiry date.
Edited - JeffreyM: Added new expiry date (since deal has been extended)

Financial

Freebie
15 May 2010

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ING

closed Comments

Pigey on 19/09/2009 - 20:44

+2

Wow, good product.

The cash out is interesting. Buy something worth $2, cash out $200. Actual cost of item $1.50 :)

Especially since the Bankwest Zero Transaction account free ATM withdrawals are limited to the Big 4 network now.
- applebyte on 19/09/2009 - 20:56
  
  Yup, and it's great for those who don't want to deposit >$2000 per month
- twig on 20/09/2009 - 01:17
  
  oh what?
  when did they change that free ATM thing?
applebyte on 19/09/2009 - 21:10

hmm, did my title just change?

EDIT: Thanks mods! looks better now
PcisT on 19/09/2009 - 21:54

Maybe I missed it, but what about withdrawals from ATM's under $200. I assume you'd need to pay the Foreign ATM Fee (~$2) as ING Direct do not have any of their own (or have they made arrangements with one of bigger bank's network?)
- ohsnap on 19/09/2009 - 22:18
  
  +1
  
  I'd assume so too - that you'd be paying $2 if you're withdrawing less than $200. Only alternative is to cash out I guess - but it's a little troublesome to have to purchase something and cash out all the time. I'm quite interested but this point is holding me back. I personally try not to keep more than $100 cash in my purse. But it's a free account so something has to give I suppose.
Rumbaar on 19/09/2009 - 22:04

About time they created a general account.

I notice the mention the rebate for ATM merchant fees if over a certain amount, but they don't specify that amount in the 'terms and conditions' PDF.
bargrin on 19/09/2009 - 22:38

+1

also looks like good use overseas to take cash out or use where ever visa accepted.
Daabido on 19/09/2009 - 22:40

+1

What do they class as salary? How does a bank distinguish between a deposit from a foreign account and salary deposited by an employer?
- SummerMan on 24/09/2009 - 14:42
  
  I wonder about this point as well. I guess they will look for a fund transfer from business account.
[Deactivated] on 19/09/2009 - 22:56

+1

Looks good. It's about time we get more of these accounts.
tanoshiiki on 20/09/2009 - 00:04

+1

Wow, I only ever withdraw at least $200 so this sounds perfect. My current bank account charges me a small annual fee each year for the Visa debit, but this sounds like a way to be totally fee-free!
POWERevolution on 20/09/2009 - 00:36

-1

You’ll receive a second $20 bonus when your first salary is deposited

How can we do this?

And you’ll receive a third $20 bonus when your first direct debit is set up and withdrawn

Same as above…how?

But you need to be quick as these bonuses will only be paid until 15 October 2009

We only have around 3 weeks…not much time at all for these cash!!! :(

Edit:

What happens after your new Orange Everyday is open
* You will receive a Starter Pack in the mail, including your new Visa Debit Card, within 5-10 days

Only have 2 weeks for free cash if you lucky!!!

Mod - removed "shouting".
- applebyte on 20/09/2009 - 00:51
  
  you don't need to wait for the starter pack, you can use the account straight away
- tanoshiiki on 20/09/2009 - 00:54
  
  +1
  
  The account is ready as soon as you apply and open it online. As an existing ING Direct customer, my Orange Everyday account can be used now!
  
  My concern with this account is that being practically branch less (in Melbourne), if there was an "emergency", how would I withdraw a large sum of cash?
  - POWERevolution on 21/09/2009 - 15:18
    
    However, we need some more information from you to open your account, please:
    1. Verify your identity
    2. …
    
    But not for new customer…
    Need ID verification.
- yargnairod on 22/09/2009 - 17:19
  
  Appears to be until the 2nd Novermber. See orangeeveryday.ingdirect.com.au -> "Read more"
  - Turd on 22/09/2009 - 17:26
    
    +1
    
    Looks like they changed it from 15 October 2009 to 2nd Nov 2009!
  - HueyData on 22/09/2009 - 18:15
    
    Thanks for pointing that out. Description updated.
hotbabe on 20/09/2009 - 01:37

+2

the best thing about this product is FREE Bank Cheque, I have never seen any banks in Australia offer this. The cheapest is using Westpac $5, you have to use Internet Banking to order and their service is totally hopeless, it takes ages for the cheque to arrive even thought the money is taken by them straight away.

@tanoshiiki: There is no way to withdraw large amount of cash, you can withdraw up to 2000 at the ATM if your ATM card has $2000 daily limit, $2000 is also the max that ATM can dispense in one transaction.

MOST of the bank branch will only let you withdraw up to $5000, if you want to withdraw more than that they will ask you to give them notice of up to 2 days, they prefer you to do Internet Banking transfer.
- flyingtrapeze on 20/09/2009 - 08:23
  
  bendigo ultimate cheque account (personal cheques not bank cheques) has an overhead cost, however, you have a rebate of around $4 per month to offset this. Essentially free. I have not had to pay Bank Fees for a few years due to my careful planning of Bpay, Pay anyone and cheque book from Bendigo Bank. But with this ING a/c freedom is back again.
  I am linking my bendigo bank ultimate cheque a/c to my orange a/c, best of both worlds. I have a Bendigo Bank branch near my office and two separate locations where ATMs are available, hence the lack of need for me to switch to BankWest ATMs.
- tanoshiiki on 20/09/2009 - 15:51
  
  My current bank (not a Big 4 bank) has let me withdraw amounts of $10,000, a few times without any special notice.
photonbuddy on 20/09/2009 - 01:40

+1

I'm not quite sure why anyone would want to deposit their salary into an account that offers zero percent interest rate.
- applebyte on 20/09/2009 - 01:45
  
  +1
  
  Better than say a run off the mill commonwealth bank account with a very very low interest that is probably offset by the monthly fees
  
  If you want to save, then have a savings account
  - photonbuddy on 20/09/2009 - 12:09
    
    I suppose it depends on your spending style.
    
    Putting your money into one of ING's interest-bearing accounts, and then transferring as needed would seem a better way to go, but does add a bit of hassle.
- Rumbaar on 20/09/2009 - 09:24
  
  +1
  
  You realise how low your current general deposit account is returning at the moment? Probably in the 0. percentile.
  
  With this you can just transfer internally to a ING savings maximiser and be earning a comparatively higher interest rate than most banks on their higher performing accounts.
- SummerMan on 24/09/2009 - 14:48
  
  To get $20 for the first time and go away… never deposit salary there the second time.
hotbabe on 20/09/2009 - 03:26

well, ING has a similar product as netbanksaver, isaver…. but atm the highest is still with Ubank, be warned with Ubank, I highly recommended you to not use the ASP feature to transfer the money to your Ubank account since that fund will be UNCLEARED for 5days, you'd better initiate the transfer from your other bank to Ubank account.
- ggschenkel on 12/12/2009 - 08:25
  
  Hello - this is due to the direct debit system rules where the originating bank can recall funds or reject payments in that window. You still earn interest during that period, of course.
  Speak soon,
  Gerd
  - SummerMan on 12/12/2009 - 10:36
    
    Really? Why do Bankwest or many other banks hold the fund for only three days?
    - ggschenkel on 14/02/2010 - 11:54
      
      Not sure. direct debit rules are same for all participants. banks can take risks and release funds but if funds are called back then there's heartache for bank and customers in terms of who will carry the loss, if any.
      
      In most cases doesn't matter, as long as customers earn interest during that "lock" period.
      
      Gerd
flyingtrapeze on 20/09/2009 - 08:18

+1

Just opened an Orange a/c (existing ING Customer) took less than 5 min. The unlimited Bpay and Pay Anyone is definitely a plus. Will be recommending this to friends.
mick123 on 20/09/2009 - 09:58

hmm…
I have a home loan with ING. Wonder if this can be used as an "offset" facility. I currently have redraw on it, but would prefer offset.

Also, how would you deposit a cheque? I had a savings maximiser before. I remember you would have to mail it with a deposit slip. Also, is a chq book included?
Not that I use chqs much, but just wondering.
Ans I can't see anyone asking above, but if you use EFTPOS for purchase under $200, is there a fee (not talking about ATM withdrawal).
Sobai on 20/09/2009 - 11:12

+1

minimum withdrawal of 200 bucks a pop at atms is the deal breaker for me…
- Rumbaar on 20/09/2009 - 13:00
  
  There is no minimum withdrawal. That is the minimum amount that will get you the rebate of the merchant ATM operator.
  
  You can still withdrawal the minimum amount supplied by the banking facility you use (say $20), but you'll not get the rebate from ING to offset the fee that banking institution will charge you.
  
  The only real issue out of all of this is if you need to get more than $1000 or credit limits of most standard ATM's you'll be in trouble. As they don't have branches to get large sums of cash, but I guess this is helped by the free bank cheque facilities.
  - Sobai on 20/09/2009 - 14:33
    
    Sorry i meant minimum withdrawal to avoid fees. And considering they dont have any atms where you wont get slugged the merchant atm operator fee if you dont take out the whole 200 bucks, this doesnt really meet my needs. I prefer to take out smaller amount when i need it (like i do now with Bankwest Zero)
    
    Still, i can see how this is a good deal for some people, just not me.
    - tanoshiiki on 20/09/2009 - 15:58
      
      +1
      
      To avoid fees and to withdrawal less than $200, you could just go and get "cash out". Say buy the cheapest item in-store and get $50 cashout.
      
      I was trying to research whether they had any network ATMs. It doesn't look like they do, at the moment. Even if they do later decide to join up, it'd probably with rediATM which I do not like…
      
      Many of the questions being asked on here can be answered by the FAQ, which to be honest, wasn't that easy to find. They need a big FAQ link.
      
      Savings, Cheque, Credit option can all be used at the EFTPOS terminal.
      - BargainMe on 20/09/2009 - 17:59
        
        +2
        
        @tanoshiiki: You don't need to buy anything if you want to get cash out from Coles.
        
        tanoshiiki on 20/09/2009 - 19:26
        
        @BargainMe: Really? Wow, I didn't know that!
        Do any other places also let you do that?
        
        PcisT on 21/09/2009 - 00:05
        
        @tanoshiiki: Maybe big businesses, but most won't as there is a fee for them to do it.
excite on 20/09/2009 - 11:13

How does ING tell the salary deposit is from your employer, instead of another bank account from yourself?
- fenerli on 22/09/2009 - 22:31
  
  form
bazza236 on 20/09/2009 - 12:07

+1

I just opened an account but need to get an additional identity verification, EVEN THOUGH I am already an ING Customer with a savings maximiser!! What a waste of time!

As to salary deposit, I called up - it has to be a direct credit through your employers payroll. So what happens to those people who get paid cash or by cheque?

I was also told by ING that you would get $20 bonus in lieu of the $20 salary deposit bonus if you do your first transfer of money to ING from an external bank account… no mention of this anywhere, if anyone could confirm thats great.
- Jabba the Hutt on 20/09/2009 - 12:44
  
  Perhaps those who mentioned above they didn't need to send ID had a different type of ING account. The Savings Maximiser like a lot of linked online savings accounts had pretty weak ID requirements, and maybe that doesn't cut it for opening a transaction account.
- tanoshiiki on 20/09/2009 - 16:02
  
  "I was also told by ING that you would get $20 bonus in lieu of the $20 salary deposit bonus if you do your first transfer of money to ING from an external bank account… no mention of this anywhere, if anyone could confirm thats great."
  I saw this last night when I opened my account, but not sure where… You could always just put in a little amount and check whether the bonus comes up. How can the bank tell if the deposit comes from an employer or another person's bank account? Some very small businesses may be paying their employees from a personal account or not an obvious business named account.
  
  When do the $20 bonuses get paid? Overnight? End of promotional period?
  
  The other ING account I had was a Savings Maximiser and it didn't ask me to post any additional ID verification.
- POWERevolution on 21/09/2009 - 15:10
  
  Same here…
  
  However, we need some more information from you to open your account, please:
  1. Verify your identity
  2. Create your Online Banking Access Code below, which you need to be able to log in to online or phone banking
okay on 20/09/2009 - 14:04

What are the fees for using ATMs overseas? Can't seem to find any info on it.
- hotbabe on 20/09/2009 - 15:31
  
  It's $2.50 + foreign transaction fee of 2.5%.
Afurotsu on 20/09/2009 - 15:21

Will the 'savings' button work on EFTPOS?
- BargainMe on 20/09/2009 - 17:15
  
  Of course, all it is is a transaction account.
  - Afurotsu on 20/09/2009 - 19:15
    
    Not to be annoying, but are you sure?
    
    For example, CommSec's Cash Management account, also a no/low-fee debit credit type account, does not permit the use of the savings button at EFTPOS and will reject the transaction. The credit button must be used, which is disadvantageous to retailers (fees) and may prevent cash-out at certain stores.
    - Afurotsu on 21/09/2009 - 10:44
      
      +2
      
      Just called up, and the savings button will indeed work. Will be applying now :D.
      - HueyData on 21/09/2009 - 12:30
        
        +1
        
        @Afurotsu: Thanks Afurotsu.
sintro on 21/09/2009 - 00:00

+3

I got a savings maximiser, opened the orange everyday account within 5mins. Transferred $0.01 from SM to the new account and got $20.01!!! Then I transferred it back to the savings maximiser LOL! Now I will wait till I get my new debit card to make full use of it!
abchakraborty on 21/09/2009 - 08:07

+1

I'm going for it. This is a good deal. Currently have Bankwest Zero Transaction account…this is quite a decent deal. ING is really going all out with all the bonuses to permanantly steal savvy customers with all these bonuses.

like with the $20 for 1st direct debit withdrawl. very smart. anchors people to stick with using the account.

Only problem is the major hassle of moving all the existing direct debits and linkages.
- twig on 21/09/2009 - 08:41
  
  well, technically there shouldnt be an issue keeping both right?
  neither have fees
  - abchakraborty on 22/09/2009 - 09:09
    
    True, but the bankwest zero has a requirement that you deposit atleast $2000/month into the account.
    
    ING doesn't.
ant on 21/09/2009 - 15:37

+4

Have had the account for over a month now (Used to work for ING DIRECT so was able to open one sooner). All I can say is it's completely worth it and really convenient. Means I can access funds in my Savings Maximiser straight away by just shifting it across. All the access facilites are great and for those who like banking in person they can go to the post office.

As for the ID thing. Some exisiting customers will still need to present Identification at the post office. ING will try and electronically verify your identity when you apply online, but if your details are not up to date (i.e you might have moved and havn't updated things like your electoral enrolment details etc) then you may need to provide more identification. If you do need to provide ID your account should open overnight. Mine did anyway.

I think this account could really shake things up.

Oh, and bonus credits go into your account as soon as the transaction is completed.
tanoshiiki on 21/09/2009 - 16:06

Just to shake things further up, I'm anticipating when UBank creates such a transaction account.
I can't say I'd be rapt with a lime green visa debit card, but I can't say bright orange is any better :P
- ant on 21/09/2009 - 16:52
  
  The orange card actually looks surprisingly good. Has a cool clear section on it too.
  I can't say Lime Green would be too attractive.
- ggschenkel on 14/02/2010 - 12:10
  
  Hello there - why would you switch from a major bank transaction account to a UBank one? You can already get low fee/ fee free accounts from them. If it was interest bearing, would that make a difference?
  Gerd
mick123 on 21/09/2009 - 16:43

what if you want to deposit cash into your account?
There are no ING branches.
- ant on 21/09/2009 - 16:51
  
  +1
  
  To deposit cash you just take your cash and Visa Debit Card to the post office and they can do it there.
  - Turd on 21/09/2009 - 16:54
    
    +2
    
    Yep It's instant too.
    
    Bank@Post it's called.
    
    Goto bank, Say you want to depisit X amount, They ask you to fill in a form (similar to what you do at a branch), swipe your card, select 'savings', enter pin, give them money and boom you have the money in your bank.
    - ant on 21/09/2009 - 16:58
      
      spot on!
      - ohsnap on 21/09/2009 - 18:02
        
        @ant: Ant, am I right to say you press "cheque" for both ATM withdrawals and EFTPOS when using the debit card? And you only press "savings" when depositing money?
        
        Are there any charges for EFTPOS transactions (with no cash out)? Sorry, have never used a debit card. Thanks!
        
        Turd on 21/09/2009 - 19:05
        
        +3
        
        @ohsnap: When you want to pay via EFTPOS you can either press "SAV" OR go though the VISA network and pay using "CR". Doesnt really matter. Though some places for example (MSY) charge fees if you use "CR" and not if you use "SAV".
        
        Just press "SAV" when you with choose ATM withdrawals.
        
        ohsnap on 21/09/2009 - 20:16
        
        @Turd: Ah, all clear now. Which means I use it exactly like I use my bank card. I did a search about it online and had conflicting response so was a bit confused.
        
        One last question - at places which do not accept EFTPOS but accept Visa, will I be using the debit card and selecting "cheque" then signing it?
        
        Thanks for your response, much appreciated.
        
        tanoshiiki on 21/09/2009 - 20:55
        
        @ohsnap: credit
        
        Turd on 21/09/2009 - 21:15
        
        @ohsnap: Choose "CR" - Credit!
        
        ohsnap on 21/09/2009 - 21:45
        
        @Turd: I must sound so ignorant - didn't know I could use "credit" with a debit card. Thanks guys!
        
        applebyte on 21/09/2009 - 22:22
        
        +2
        
        @ohsnap: it's good that you ask questions, because chances are other people will benefit
        
        DaveCharlie on 22/09/2009 - 10:24
        
        +2
        
        @applebyte: Definitely good to ask questions.
        The "Cheque" option is relevant when you have a second account linked to the same card. That might be what has some people confused.
    - SomeGuyOnOzB on 02/10/2009 - 13:19
      
      Not all post offices support Bank@Post, so if the one you go to doesn't … hopefully they can tell you if others in the area do :)
      - the player on 09/03/2010 - 13:24
        
        @SomeGuyOnOzB: errrr…….. No, all aus post office branches do have bank@post, but maybe not ur local non-post office agency
Turd on 21/09/2009 - 19:12

But one thing I havent found out is how do others pay you if they want to goto a branch??

Since ING have no branches where do OTHER people (not the account holder) do this?
Mainly for older people who like bricks and morter branches.

I know with CitiBank you can get them to goto a NAB branch and do deposits there, not sure about ING?

Anyone know?
- mick123 on 22/09/2009 - 08:55
  
  post office with your account details??? Would logically make sense since it seems they are using post office for most other things. Unless the person depositing needs to show the account card?
  - ant on 22/09/2009 - 09:33
    
    When you use Bank@Post, you do need to use your account card.
    ING DIRECT has a relationship with Westpac for clearing of cheques etc so you may be able to deposit cash via westpac,but not sure if you need a deposit slip when doing this. You'd be best to call ING DIRECT on 133 464 to confirm.
- mick123 on 25/09/2009 - 18:08
  
  MAYBE IMPORTANT FOR SOME PEOPLE (LIKE MYSELF):
  
  Other people cannot deposit cash into your account (ie. without the keycard).
  I just spoke to them. She said "get them to deposit the cash in their own account and then they can transfer to it to your account".
  That works but is not always practical.
  
  This is the only downside I see for this. Sucks a bit.
  Still happy with the account, but this is a downer because it is something I use currently
  - SummerMan on 25/09/2009 - 18:13
    
    True. But what bank are you currently using? It must be a big bank which has branches everywhere in the country. If you have ever used service from a small bank, you will not complain about this because though it has physical branches, they are too far away to be of any use.
    - mick123 on 25/09/2009 - 18:31
      
      yea mate, am with cba. only thing i am thinking is if worse comes to worse and some1 has to deposit cash, wil get them to deposit in my oldies' account and get them to trfr it to me ;)
      
      Have been with CBA since I was about 8 so no experience with small banks. First time I have changed a bank in 20 yrs.
  - SummerMan on 25/09/2009 - 18:37
    
    This might be good thing. All transaction will be traceable. You will not end up with a problem… Who did give me that lump of money?
    - mick123 on 25/09/2009 - 18:42
      
      lol. mate, if someone gave me an unexpected lump of money, finding out where it came from would be the last thing on my mind lol!! ;)
      Actually, it is not a big problem for me as I dont get cash deposited by some1 else often. I have a small studio apartment which I rent out and the tenant used to pay me by depositing cash in my account but I think now does via internet so it is not a problem to me at the moment.
DaveCharlie on 22/09/2009 - 09:57

I've signed up for two
- coolsteps on 22/09/2009 - 15:02
  
  can you sign up for two accounts and still get double the bonuses ?
  - Turd on 22/09/2009 - 15:11
    
    lol! Greedy are we?
catmao on 22/09/2009 - 13:11

THANKS
Turd on 22/09/2009 - 15:23

I just got my $20 for depositing $1 from my other bank account. Not bad! :)

Now to do the other stuff
sintro on 22/09/2009 - 15:33

You got the bonus from your second account?
- Turd on 22/09/2009 - 15:49
  
  No no just the 1 account. I didnt open two oranage accounts. Im not that greedy.
ohsnap on 22/09/2009 - 18:09

Good on them for changing the date. 15/10 might have been a little too soon. Went to the post office today to complete the verifying identity step. Rushed there after work and made it just in time before they close and got told they'd only do that from 9.30-11.30am. Shessh! Wonder if it's only my local post office.
- mick123 on 22/09/2009 - 18:28
  
  did they say how long it takes for account to open from when you go to post office?
  - ohsnap on 22/09/2009 - 21:15
    
    Nope, I didn't ask but I doubt they'd know. A poster above (Ant) mentioned:
    
    "If you do need to provide ID your account should open overnight. Mine did anyway."
    
    Hopefully that's true. Now to try and make it to the post office during work hours between 9.30 to 11.30am..
    - zzzsianzzz on 22/09/2009 - 23:56
      
      +1
      
      it takes 48 hours for verification and 7 working days for the card… according to the person from ING Direct
- Mjhilton on 23/09/2009 - 12:55
  
  Can I ask which post office told you this?
- SirCH on 24/09/2009 - 12:53
  
  I got there about 4.40 - they did mine fine
sintro on 23/09/2009 - 00:24

I opened my account online on Sunday, got my $20 bonus from initial deposit and I received the Card today (the following Tuesday)!
- bobsi18 on 24/09/2009 - 09:08
  
  +1
  
  same, fantastic!
1968 on 23/09/2009 - 12:40

+1

sounds like a good offer. are there any fees for the visa debit card (annual fees or anything)?..
- dy4me on 24/09/2009 - 09:49
  
  +1
  
  no there are no fees

This was posted 15 years 3 months 7 days ago, and might be an out-dated deal.

ING Direct - Orange Everyday Account (inc. up to 3×$20 Bonuses & 50c Bonus on EFTPOS $200 or More)

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