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Deposit $100 in Savings Maximiser and Get $50 @ ING Bank

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Deposit $100 in Savings Maximiser and Get $50 @ ING Bank
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bigbadboogieman on 12/01/2021 - 19:04 files.ozbargain.com.au (489 clicks)
Last edited 12/01/2021 - 19:10 by 1 other user

Just got an email - Free money - Potentially Targetted

Grow your balance by $100 and get $50

There's no complicated criteria - simply grow your Savings Maximiser balance by $100 or more by 31 January 2021 and we'll put a $50 savings bonus in there too.

See, we said it couldn't be simpler.

Savings Maximiser $50 savings bonus offer:
This offer is available for a limited time only and is not applicable in conjunction with any other promotional offer unless expressly indicated. The offer applies in respect of the original recipient of this email only.

If your Savings Maximiser balance as at 31 January 2021 is at least $100+ higher than on 01 January 2021, ING will make a payment of $50 to your Savings Maximiser account by 28 February 2021. Where you hold more than one Savings Maximiser account, there is a maximum of one $50 payment per person and the $50 payment will be made to the Savings Maximiser account with the highest balance. Where you hold a Savings Maximiser account jointly with another account holder, there is a maximum of one $50 payment per account.

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  • Gandalf the Thrifty on 12/01/2021 - 19:09
    +4

    Screenshot starts with "might have been a while since you added to maximiser", I would say targeted to those who haven't used the account for some time

    • bigbadboogieman on 12/01/2021 - 19:11

      Yep targetted. People have kind of abandoned savings accounts and found other avenues to grow their balance so may be wide spread targetted.

    • tdw on 12/01/2021 - 23:24

      that's such a bs requirement. 1.35% isn't a whole lot to begin with, and now we have to jump through an extra hoop to qualify. negatively affects those on low/unstable incomes, where they penalise you if you have a bad month.

      • INFIDEL on 13/01/2021 - 00:18
        -1

        As they have said - grow the account by what you can afford.

        If people can afford to move $1000/mth to qualify for the bonus interest rate - it should be little inconvenience.

        To get the bonus interest, you can move out $1000 each month & in $1000.01.
        Just move that 1c into the Maximiser to grow it by 1c/mth. Easily done by direct debits.

      • Yola on 13/01/2021 - 12:40

        Sure 1.35% is not a whole lot but it's pretty much the best ATM. Equal top with My State Bonus Saver.
        https://docs.google.com/spreadsheets/d/145iM6uuFS9m-Rul65--e…

        • tdw on 13/01/2021 - 15:35
          +1

          My State have far more reasonable conditions to obtain the bonus interest

          • 5 visa debit transactions
          • deposit $20 each month

          (too bad they don't count Bank @ Post transactions)

          At my lowest point, I was struggling to make even the min. $1k deposit into my ING account. Had to do several transfers in and out to make up the total $1k.

      • INFIDEL on 13/01/2021 - 13:28

        True, if you need to withdraw money from Maximiser (resulting in lower balance at end of month), you will soon only receive the base interest rate of 0.05% instead of 1.35%!!
        Hadn't considered that in the situation you described.

    • bigbadboogieman on 12/01/2021 - 23:38
      +1

      I am just taking the $50 now. I've got other better ways to get a better rate.

      • INFIDEL on 13/01/2021 - 00:27
        +3

        Am surprised you still have an ING account after change 3 years ago to get bonus interest😉 Will need to find a new bank with lesser onerous conditions and move my business.

        Your suggestions for better interest?

        • bigbadboogieman on 13/01/2021 - 13:24
          +1

          Yeah… The account stays open.. 😋 I did change banks for other purposes. No longer have savings sitting in any account though. I struck a deal with someone so now I help them save interest charged on their mortgage. Everyone's a winner except for may be the bank..

          • INFIDEL on 13/01/2021 - 13:42
            +1

            @bigbadboogieman: I've got a few accounts like that - not in use. But not worth the bother to close.

            Paying off higher interest charges like mortgage & CC are always a better way than low bank interest on deposits.

            Hope your friend can be trusted with the loan.

            I've done that with a family member going into an Aged Care Facility. They would otherwise have had to pay over 5.5% interest (added to their daily fees).
            Drew up a loan agreement - that saved them a lot of money. As I was executor of their Will - I was sure to get paid back!

            • bigbadboogieman on 13/01/2021 - 18:15
              +1

              @INFIDEL: Yep highly trustworthy arrangement here as well.. 😊

              FYI you can close ING account using their mobile app. I really like the no international transaction fee and refund of international ATM fee on their card but it's waayyy too much hassle now.

    • OzyBe on 13/01/2021 - 08:02
      +5

      The ING account used to be one of the best. It is a shame they are doing this to it.

  • dammit on 13/01/2021 - 08:05
    +3

    Got this email too. Sent $100 to the savings maximiser. Should get free $50 soon. Score !

  • payless69 on 13/01/2021 - 08:32
    -1

    Please also put interest received in title, thanks

    • bigbadboogieman on 13/01/2021 - 13:10

      Why.. it's not about the interest rate. I have 0-zero balance. At the end of the month I will have $100.01 balance and then again 0-zero on the first.

      • payless69 on 13/01/2021 - 15:34
        -1

        Ok I get it, just the 50 bucks for the hassle. Then get an unused account that takes hours to close. How much does your accountant charge?

        • bigbadboogieman on 13/01/2021 - 18:13

          Hours.. what are you talking about…? ING accounts can be closed using their mobile app. You wouldn't get this offer when you open an account now though.

          I created my account back when they were offering $100 referral bonuses. I got around $900 just referring people back then.

          I don't need an accountant. I know accounting, tax, etc amongst other things…

  • tobia on 13/01/2021 - 09:00
    +1

    I remember the days when they offered 2.8% interest..

    Looking for another way to maximise growth for my savings, what are other people using? Anything higher out there?

    • Yola on 13/01/2021 - 12:42
      +2

      I remember the days when they offered 17%. Ooops I think I am showing my age.

    • bigbadboogieman on 13/01/2021 - 13:23
      +1

      Nothing significant on savings accounts.

      • tobia on 14/01/2021 - 08:29

        Thanks

  • freemoneyhunter on 13/01/2021 - 21:01

    Will this work if you did not get the email?

    • bigbadboogieman on 13/01/2021 - 22:07

      Nop targeted

      The offer applies in respect of the original recipient of this email only.

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