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Deposit $25 for 30 Days and Get Another $25 Cash Bonus When Opening a Fee-Free Account with IMB

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Deposit $25 for 30 Days and Get Another $25 Cash Bonus When Opening a Fee-Free Account with IMB
Go to Deal
spendinghacker on 06/05/2016 - 11:49 imb.com.au (533 clicks)
Last edited 06/05/2016 - 12:03 by 1 other user

MUST BE A NEW CUSTOMER TO IMB BANK

If you meet this, here is the process to follow:

  1. Open any transaction or savings account with IMB. I recommend Reward Saver as it has no fees. The saving rate after the bonus is not too bad but it doesn't really matter as you don't plan to keep any money there after you get paid anyways ;)

  2. Enter a promo code from the referral Wiki page during the account opening process. (Disclosure: Referees will be paid $25 for each person referred who meets the promo requirements and gets their $25 as well).

  3. Deposit at least $25 to the new account and keep it there for at least 30 days.

  4. IMB will pay you your $25 within 90 days of account opening

Full T&Cs for your consideration:
  • May be redeemed only once by each New Member.
  • There are no limits on the number of unique referrals the Referring Member can make.
  • To redeem, the New Member must meet all normal account opening requirements for an IMB savings or transaction account as the primary account holder by 30/06/16.
  • Accounts held on trust are not eligible for this offer.
  • To be eligible for the $25 credit, the New Member must:
    a) open a new IMB savings or transaction account with a minimum deposit of $25, and
    b) maintain a balance of $25 for 30 days after opening the account (the ‘qualification period’).
    On satisfying these requirements, one $25 credit will be made to the account the New Member opens within 90 days of opening.
  • One $25 credit will be made to an open transaction or savings held by the Referring Member (and such account may be selected by IMB at its absolute discretion).
  • If the Referring Member closes their account prior to the end of qualification period, their $25 credit and the $25 credit of the new member, is forfeited.
  • For existing accounts that are subject to bonus interest payments, the $25 credit does not count as a deposit for the purposes of determining bonus interest eligibility for that month.
  • Proof of redemption of this promotion will appear in the account holders’ next periodic statement.

This advice is general advice only and does not take into account your objectives, financial situation or needs.Please consider the relevant Terms and Conditions or Product Disclosure Statement available from any IMB branch or by calling 123 462 before making a decision about any IMB products.
IMB Ltd trading as IMB Bank. ABN 92 087 651 974. AFSL 237 391.

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closed Comments

  • thsydney on 06/05/2016 - 12:00
    +3

    So seems like that code is dedicated to you so that should check affiliate/referral chechbox isnt it.

    • spendinghacker on 06/05/2016 - 12:33
      -1

      Correct. It is unique to me.

      I disclosed that in the deal description but there is no checkbox to tick for referrals, only for 'associated' and I do not meet the OzB definition of "associated".

      My apologies for any inconvenience caused and hopefully the mods can add the referral tag shortly. :)

      • illumination on 30/05/2016 - 17:34
        +1

        Realise this is an old comment/deal/post, but not sure why you got negged. What you're saying is correct. You're not "associated". You're a "Referrer".

        However it seems as per Ozbargain rules your personal code has been removed anyway.

  • King Steuart on 06/05/2016 - 12:24

    What day?

  • grimace3 on 06/05/2016 - 13:16
    +2

    How does a new member get their own referral code or was it only current members who get one?

    • cheaty on 06/05/2016 - 13:31
      +2

      Just called them and they said the referral codes are included in the letter. The physical letter you (might) get via snail mail soon.

      • spendinghacker on 06/05/2016 - 13:47

        what @cheaty said is correct.

        You do not get a referral code on application but might (no guarantees!) get one in the post together with your statement. That's how I received mine.

        That's obviously assuming they decide to ever run such a promo again after they get 'Ozbargained' this time around….;)

        To the best of my knowledge, there is no way to generate the code online or through their call centre. Happy to be proven wrong.

  • Mohit on 06/05/2016 - 13:20

    Anybody wants to give me the code ??

  • IVI on 06/05/2016 - 13:22

    IMB sounds too much like ING, one of my current banks…

    Also, the list of steps (not to mention the T+C's below it,
    for their reward scheme, would take more of my time
    than $25 would cover.

    WHAT ARE THE ADVANTAGES OF THIS NEW BANK?

    (Even at its start, ING simply Deposited $10 into my A/C,
    which made them Sooo Differ not from all other banks
    I'd ever experienced, eg, in N Amer, Scandinavia & AU.

    IMB - was Illawara Mercury building society?

    ING - from a Dutch (N for Nederlands) Grupp?

    Who's got more behind it…?

  • Ryder08 on 06/05/2016 - 13:34

    I now have an account number but no BSB. Is there a general BSB number?

  • Dim Sum on 06/05/2016 - 14:03

    Hi they need to know your full name or a/c no. I am unable to just give them the code to get the deal done. Would you mind supply this please?

    • magic8ballgag on 06/05/2016 - 14:07
      +1

      Don't know if serious or hacker.

    • spendinghacker on 06/05/2016 - 14:13
      -1

      I'll give you the benefit of the doubt mate and assume you are legit.

      If you apply online, you need the promo code only.

      As per this page, you need to do the following:

      • Click “Open an Account” button below
      • Follow the on-screen prompts, including selecting an IMB product that meets your needs. You will need to provide your identification during this process (Drivers licence, Medicare Card, Passport).
      • At the completion of the account opening process you will be provided your new account number and details.
      • On this screen you will be asked “Do you have a promotion code?” Enter the supplied promotion code.
  • Mohit on 06/05/2016 - 14:17
    +1

    ginmi, me and my partner will use your code. Cheers for 50$

  • spackbace on 06/05/2016 - 15:24

    Jees, getting that referral code out there

    Gonna be some cash coming your way

  • Dim Sum on 06/05/2016 - 15:44

    When I open the a/c online there was no place for me to enter the promotion code. I called the bank they asked for your full name. Can't do it over the phone without your full name. The a/c has been opened but unable to get the deal.

    • spendinghacker on 06/05/2016 - 15:51

      That's strange.

      Didn't you get this screen with your new account number?

      • Dim Sum on 06/05/2016 - 19:01

        No! There wasn't screen like that.

  • wildweasel on 06/05/2016 - 16:38
    +1

    I did get the screen and entered the promotion code. The code reflects in my account transaction as well with an end date.

  • King Tightarse on 06/05/2016 - 17:45
    +1

    More referral $ coming your way Ginmi

  • Jet_k on 06/05/2016 - 17:59
    +2

    ING is giving $75 no referral code needed….no account fees 2% cash back on debit card transactions, no atm fees,
    https://www.campaigns.ingdirect.com.au/75bonusoffer

    • spendinghacker on 06/05/2016 - 18:17

      Great deal but there are catches:

      1. Only the first 6000 people will get paid.

      2. $1000 deposit required.

      As far as the ING product itself, it is hands down better!

      As a matter of fact, we've been recommending them to our readers for almost 2 years now and I've been using them myself as my primary transaction account since they first rolled out their Paypass cashback (which started as 5%.)

  • Mohit on 07/05/2016 - 17:11

    Damn cant open Act/at the end says visit a branch or call.

  • coolsteps on 08/05/2016 - 12:35

    08/05/2016 Bonus Starting Balance $0.00 $0.00 $0.00
    08/05/2016 Expiry Date: 31 Aug 2016 $0.00 $0.00
    08/05/2016 Bonus Special Applied

    does that mean the promo code was applied sucessfully? how can you tell?

    also what is the interest rate on the reward saver if i doposit $50?
    how do you close account and take money out once the bonus is receive?

    • spendinghacker on 08/05/2016 - 13:16

      does that mean the promo code was applied successfully? how can you tell?

      If you entered any of the promo codes from the this page then you should be good.

      what is the interest rate on the reward saver if i deposit $50?

      ZERO according to this page.

      This means that you are missing out on up to 15 cents (14.8 to be exact) in potential interest by keeping $50 in that account for the minimum required period of 30 days.

      Would you be willing to miss out on $0.15 in interest to get $25? Your call ;)

      The above calculation is based on the assumption that you meet the qualification criteria with ME Bank which currently offers the highest rate on 'at-call' savings available from a bank in Australia.

      how do you close account and take money out once the bonus is receive?

      You can transfer the money out to any other Australian bank account using IMB Internet Banking.

      As far as closing the account, you can call them and request account closure but I wouldn't do it personally and recommend you instead do what I did which is to keep the account open but with nil balance.

      It doesn't cost you anything to keep that account open and you could benefit if IMB ever run a 'refer a friend' promo like this again.

  • coolsteps on 10/05/2016 - 08:33

    i thought it is 2 % if you deposit $50+?

    $0 - $4,999.99 0.00% 2.00% 0.00% 2.00%
    4. To earn bonus interest the account holder must make a minimum $50 deposit and no withdrawals per month. If bonus interest criteria are not met for the calendar month, both the Standard Variable Bonus Interest and Introductory Fixed Bonus Interest Rate are forfeited.
    5. Introductory Fixed Bonus Interest Rate is payable for the first 4 interest payments for new accounts opened from 28 September, 2015, for new or existing Members who have not held a Reward Saver account before.

  • King Tightarse on 10/05/2016 - 19:16

    Got a call from them today - not sure what about am on hold now…
    EDIT> Wow - nothing they asked me to call them back, go in the hold queue and it turns out to be a "welcome" call.

  • wildweasel on 16/05/2016 - 09:29

    Got a letter from them. However there is no referral codes in them. So all the referee bonus is going to the OP for now.

  • Ryder08 on 25/05/2016 - 19:58

    I spoke with them and they said a letter will come out next month with my referral code.

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