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ING Direct - $5 Monthly Bonus for New Customers until the End of 2010

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ING Direct - $5 Monthly Bonus for New Customers until the End of 2010
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Pundercut on 11/06/2010 - 07:16 ingdirect.com.au (188 clicks)
Last edited 11/06/2010 - 07:19

ING Direct is offering a $5 monthly bonus to new customers. Simply deposit your salary ($2,000 or more per month) into your Orange Everyday, and we'll pay you $5 each month until December 2010.

Note that this is for new customers only.

If you're unhappy with your bank take, take, taking when you use your everyday bank account, now you have a real alternative. Awarded Money magazine's 2010 Best Innovative Product and a CANSTAR CANNEX 5 star rating for outstanding value, Orange Everyday is the online everyday bank account that actually pays you for using it and is totally free from ING DIRECT everyday fees.

-No account keeping fees
-No ATM fees if you withdraw $200 or more
-Visa Debit Card
-They pay you $0.50 every time you withdraw $200 or more using EFTPOS

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  • focused77 on 11/06/2010 - 08:10
    +1

    I gotta say I love ING direct.. I've been with them for a while, and ended up setting up and orange everyday account recently.. The deal at that time meant you could get $60 of bonuses off them. Wish I was a new comstomer now to get this ha ha.

  • WaywardOne on 11/06/2010 - 08:41

    $2000+ deposit per month for $5? That is only 0.25% per month or effectively 3% pa? I guess if you were really keen on the $5, you could move it straight away to UBank etc. Still though it is such a small value that it is hardly worthwhile — a better value is the Bankwest Hero account with 5% interest on the first $5000.

    EDIT: Is this subject to income tax? If not; that could be a compelling factor.

    • neil on 11/06/2010 - 09:31
      +1

      Well this would just replace your normal transaction account so $2000 a month would probably not be a big deal for most people to achieve. I think it slightly beats Bankwest due to being able to use ANY ATM in Australia for free ($200> withdrawal) as well as $.50 bonus for using EFTPOS cashout (Just get my money out at Coles or Woolworths, no purchase necessary).

      Still last ING bonus deal was a lot easier, http://www.ozbargain.com.au/node/22739, $140 of bonuses for just using the account.

      • Daniel15 on 11/06/2010 - 10:04

        Does anyone actually withdraw more than $200 from an ATM?

        • Future Kids on 11/06/2010 - 10:08

          Why not? BUT cash out from supermarket instead to get the $.5 bonus.
          AND post offices are just around the corner… ;p

      • Kkuba on 11/06/2010 - 12:03

        i have one of these, along with a savings maximiser. best thing ever.

        i already deposit my salary into it, and the next day, i have an Auto. Savings Plan where it takes that money and puts it straight into my savings maximiser.

        i always get 200 out now, to get the $0.50 bonus, and, particularly over the last 6 weeks, i have been doing this about twice a week, which is not anything amazing, but still.

        neil: are you sure that if you get 200 cash out at the coles register without buying anything, then you still get the bonus? i have been wondering about this for a while actually. can you confirm from personal experience?

        that could mean if you wanted to, you could make free money…

        withdraw, deposit, withdraw, deposit…? except not really worth the effort and risk of carrying around hundreds to thousands of dollars i guess

        • neil on 11/06/2010 - 12:15
          +1

          Yep 100% sure, found out about it from the previously posted ING thread.

          Just ask for a cashout at either store. On their self check outs, Woolworths actually has a button for cashout/withdrawal, which is were I tend to do most of my withdrawals. Coles on the other hand doesn't so you will have to go to a staffed checkout.

          I suppose you can keep withdrawing and depositing but not sure it would be worth the .50. Cash deposit is only through Auspost right? Going to supermarket and post office more than once a week would be punishment enough.

    • Future Kids on 11/06/2010 - 10:02

      The $2000+ deposit can be transfered out as soon as you like to other high interest savings account. However, the bonus $5 a month only upto end of 2010 which make this deal much less attractive. Still a plus for new customer.
      Oh… and one can open two orange account…

  • shu on 11/06/2010 - 10:05

    IMO banks should have perks for returning customers..I've been an ING account holder since 2005 but no cash in it for 2 years..

    • SomeGuyOnOzB on 11/06/2010 - 10:12

      Last June they had a flyer that said 8% for new money.

    • shlape on 11/06/2010 - 11:49

      True. It seems ING has been accommodating only to new customers. I pulled all my money out when UBank first started.

  • believe on 11/06/2010 - 10:15

    I have a Savings Maximiser account with them. Am i eligible for the $5 bonus?

  • M27 on 11/06/2010 - 11:56

    BankWest's hero transaction is better.

  • michaelliberty on 11/06/2010 - 18:55

    You really should add "till end of 2010" in the title.

  • summit-nutrition on 14/06/2010 - 01:03

    Big fan of ING - had an account for a couple of years now. Stickin it to the big four with no fees.

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