So I check my Savings Maximiser account on my phone… Your current interest rate is 2.6%
Say what? What happened to 2.8?
Hopefully it's an error but even terms that pop up have changed too…
I meet the conditions every month so am very confused. I've sent message to support but wanted to check with everybody here as well!
I have a screenshot, unsure if I'm allowed to link on here, so remove if not allowed please!
Screenshot -
https://preview.ibb.co/k2X3gS/Screenshot_20180212_034259_01.…
Used to have a large sum in ing and liked them but their offering is so crap now, it's pointless. Luckily have moved all my money out to ETFs. Still have my super with them, though (they jacked up their fees on the super too, but whatever).
my phone says 2.8
I noticed their Standard Variable Rate (what you get if you don't meet conditions) has dropped to 1.15% - It was 1.35% a few months ago when I checked.
2.8 for me too
Still 2.8 for me. Perhaps long term users aren't getting it? Haven't done your 5 tap and pay yet?
The 5 tap and pay, isn't that commencing next month? No haven't done it yet …
You're right! Crap I've been tapping a month early :(
Better safe than sorry :-)
It's showing 2.8 when I check via desktop.
I still get both 2.80% for both phone app and desktop website showing up. Could be a bug?
Is so sad that the new condition for 5 ING card transactions / mth to get the full interest rate from March, so keen to find another alternative for high interest savings.
I've been looking at bett3r
I recently opened an account too, to see what it is like.
Note: if you decide to open an account, don't bother moving much of your funds in yet, it is next month before you get the bonus interest (if you deposit $2000 this month into the specific PAY account).
How do you find it? The whole 3 account automatically moving money around thing confuses me… I just want everything to go to a savings account except for a bpay credit card bill every month (vary amounts) I can do manually
Like you, I don't really need the automated finance management it provides.
I am still new - but from just reading, once money is in the Save account, it will not be touched.
Hopefully, this way, it won't be moving my money around in those accounts :-)
@bluesky
You're only able to use Bpay from an Orange Everyday, Mortgage Simplifier, or a Smart Home Loan account, not directly from the Savings Maximiser account.
@RoughMetaphors: Thanks, yes aware of that. We are actually talking about the AMP Better Account. ING is troublesome with the 5 paypass, so going to shift funds away. Just opened an AMP account to sus out.
… so keen to find another alternative for high interest savings.
Have at look at Poll: Best Australian Savings Accounts in 2018. Maybe you will find one that suits you.
Yep, mines jumped back to 2.8 luckily
Getting real sick of ING.
I wonder if that was the rate before midnight?
At the end of the month we should all calculate the interest for the month. In my circumstances, they may have robbed me of a cent.
Haha …
But on a side note: The banks are pretty clever. They often break up the basic interest and bonus interest, and by doing that, due to rounding, they often benefit by up to 2c. Which will add up for them over many accounts.
I wonder if they are actually planning to reduce it to 2.6%, and was going to do it at the same time as NPP going live, so as to "fly under the radar". But someone push the wrong button and it showed up for a short time this morning.
They better not! That's what I thought so too!!
I just checked, the last ING interest change, notification email was sent on the day of change.
So what you say is possible. Also, they might change it anytime.
Screw ING for storing money. All of my savings are now with uBank. CBF with their lower rate and 5x transaction / month requirement
Still 2.8% for me
I'm p|ssed about this change requiring monthly transactions. Do we have any threads that summarise the saving account alternatives that's up-to-date?
I reckon I'm going to give AMP bett3r a go
i received an email today, says the new rate is 2.8% (1.15 + 1.65). i can only assume the base rate has dropped.
I see what ING is up to now.
Knowing many of us will miss the 5+ card transaction, they reduced the base rate going forward by 0.2%. Which is why we saw the rate being 2.6% for a few hours. This was before they had increased the bonus rate by 0.2% to compensate.
Now the bonus rate has increased, we are back to 2.8%
Exactly right, heaps of people might be unaware of your new requirement, less interest to pay to them! ING have become real sneaky as of late.
I checked my phone and it says the same thing - 2.6%
Went to the website, and at this moment, it still says 2.8%.
If the rate has really changed, and it is not an error, then the website page will probably change later today.
Pls let us know if you hear back from support. Thanks.