Hi, just want to clarify with you guys about ING bonus rate.
On May I deposited 1k and done 5 cards purchases, when will I receive the bonus rate?
ING Not Giving out Bonus Rate with Criteria Met?
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I have call them, the customer service insists I receive on July..
I think I should receive on the early morning of June not July….then what should I do?
Wait 'til July
meet criteria in May (such as 5X settled card purchases and 1K deposited) should start the benefits from June 1st provided that you also complete the same criteria again this month in June.
i just started in May and can see that the in-app indicator has updated to high rate and a 'Yes' for benefits activated in June.
When did you open the account?
you have to complete one full month
so if you opened account in May you would not be eligible for bonus interest until June (which is payable to you in July)i had a similar issue a while back.
If its not this then contact them and they will check for you.I have been with ing since 2019.. I am existing customer but been a while not with ing but just redeposit on may base on info from ozbargain
According to you in the other thread:
'According to your transaction listing, for the month of April you have not made the 5+ settled card purchases and you have not satisfied the $1000 deposit'
So if you didn't do both of them for April you are not eligible for the May interest.
If you met the criteria in May then you will get the interest for this month on the 30th of this month.
You need '5 settled transactions' as per the t&c's.
Think you met conditions and didn't receive the bonus? Call them.
I have call them, the customer service insists I receive on July..
technically you should receive the entire bonus interest added in July, which includes all the interest accrued from 1st June to end of June provided the criteria is met for both months of may/june.
Do you mean I can get both the high interest I have earned in may and June in the early of July?
Go to the app. Your app defaults to "Transactions", select "Rebates". This will advise if it's unlocked the rebate this month and the following month.
Bonus feature is that you can tell them that you're overseas so you don't get flagged for suspicious transactions.
It takes about two months cycles to then be in the criteria.
It means the info given by ing is misleading.. Previously I would get the bonus rate on the early morning in the beginning of the month if I met criteria..and the rebate or high interest sign will automatically changed after I met the criteria not on the beginning of month..
Before I redeposited on may I also asked ing about how to get the high interest.. It never mentioned it took 2 months cycles..if I know like this, I should stick to my previous bank which gave more honest high rate and clearer instructionIt's clear in the PDS how it works and the app even splits this month and next month benefits.
Challenge it if you want to waste time on this.
Bonus rate for the whole month of June, interest paid on 1 July
If you satisfy the criteria in May then you will earn bonus interest for the money in your account in June, paid 1 July.
Mine took until about midday on 1 June to actually update from "No" to "Yes" after meeting the criteria in May
In order to qualify for bonus rate in May you had to have satisfied their criteria in April, you obviously did no such thing
If you meet the criteria in May, you will have the bonus interest calculated daily during June and paid on July 1st.
Rebates will be credited throughout June as well.
If you meet the criteria during June it will continue on in July, with July's interest paid 1st day of August, but rebates applied during July.
I am new ING customer, If I open an account in Sept and meet the bonus criteria ( $1000 deposit and 5 transactions), Will my savings balance start earning bonus interest from sept or oct? OP here was not a new customer I guess.
I understand this is an old post. I can't seem to find the answer to my question on ozbargain.
What did ING say when you contacted them?
https://www.ing.com.au/contact-us.html