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Deposit $50 into a New Reward Saver Bonus Account and Get a $50 Bonus @ IMB Bank

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Deposit $50 into a New Reward Saver Bonus Account and Get a $50 Bonus @ IMB Bank
Go to Deal
LOvapoweredqcumba on 06/02/2023 - 07:55 imb.com.au (3958 clicks)
Last edited 06/02/2023 - 08:45

Easy sign up.

Repeat of this deal: https://www.ozbargain.com.au/node/705695

And almost identical to this deal: https://www.ozbargain.com.au/node/753793

New members who deposit $50 into a Reward Saver or Reward Saver Kick Start1 account within 7 days of account opening and maintain a balance of $50 by the 21/04/2023 will get a Bonus $50.* Offer ends 21 April 2023.

$50 promotion is valid for new IMB members who open a Reward Saver or a Reward Saver Kick Start Account between 03/02/2023 to 21/04/2023, and have not previously held an IMB membership, Reward Saver or Reward Saver Kick Start Account. Account eligibility requirements apply. Bonus $50 will be paid within 15 business days of promotion end date. To be eligible for the $50 bonus, new members must make a minimum deposit of $50 within 7 days of opening their account and hold a minimum account balance of $50 at the end of the promotional period (11:59pm on 21/04/2023). IMB reserves the right to change or withdraw these offers at any time.

Terms and conditions apply

Edit 1: Added more info
Edit 2: Apparently not that easy signup for some especially with surnames containing spaces (sorry). It was instant for me and I did not encounter any signup issues.

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closed Comments

  • polarq on 06/02/2023 - 08:20
    +4

    Their sign up form is not great, it expects the last name to contain no special characters including "space". My last name has multiple "words" so the online method of creating the account fails with identity check. They ask me to call the bank, could be too much effort? hhmmmm

    • Serapis on 06/02/2023 - 08:39

      I'm getting the same issue

    • payless69 on 06/02/2023 - 09:40
      +4

      Get a name change: Apply for the surname of Cash
      so much easier to present cheques…

      • Serapis on 06/02/2023 - 13:46
        +4

        Thanks but not too keen to be associated with Michaelia…

    • Mokr on 06/02/2023 - 08:34
      +6

      It's 50 dollars. Take the 5 min risk

  • iWan on 06/02/2023 - 08:33
    +2

    Just tried to sign up and it failed.

  • Gyr on 06/02/2023 - 08:35

    Seems like they have made it available to Wollongong residents now?

  • Optimus Prime on 06/02/2023 - 08:36
    +2

    Tried signing up twice - now have to visit a branch

  • Serapis on 06/02/2023 - 08:39

    Lol parts of my name cannot contain spaces…

    • firestint on 06/02/2023 - 10:45

      haha same, and just tried signing up but failed..

  • Zapwap on 06/02/2023 - 08:59
    +1

    Easy sign up.

    Thanks for doing that, far from it.

  • furakoph on 06/02/2023 - 09:06
    +7

    Took 2 minutes to sign up, very easy. Easier than any other bank from memory imo.

  • singlemalt72 on 06/02/2023 - 09:09
    +3

    Opened account, got an email with a number and BSB - Deposit into account, realise that is the Member Number, not the actual Account number!

    Sign up to internet banking, check balance …..$0

    FML

    • tharlow on 06/02/2023 - 10:03
      +7

      I Made a Boo-boo

  • Futura on 06/02/2023 - 09:09
    -7

    I bet they have crap internet banking and mobile app

    • payless69 on 06/02/2023 - 10:14
      -1

      Much better than CBA, ANZplus, Citi………

      • Loopholio on 07/02/2023 - 16:32
        +1

        Is it really better than Commonwealth Bank's internet banking? I gotta check this out!

    • I like freestuff on 06/02/2023 - 11:03
      +2

      What does that have to do with anything. You sign up get the $50 and leave. You don’t have to use their product.

  • cycleri3 on 06/02/2023 - 09:14

    How long before the bonus shows up? Transfer out and cancel after? Also what are the transaction fees, says no account keeping fees but has transactions fees.

    • popejohn on 06/02/2023 - 09:17

      See OPs description - sounds like after 21 April if you've met the criteria

  • Zythyx on 06/02/2023 - 09:31

    I'm not interested in the offer at all, but is anyone else disturbed by the orgasming woman on their landing page?

    • Usemame on 06/02/2023 - 09:42

      it implies they make their customers happy?

    • cook99 on 06/02/2023 - 10:46
      +6

      I wasn't interested until you pointed this out, signed up thanks

      • I like freestuff on 06/02/2023 - 11:04
        +5

        Yeah their comment got me to click on the link. Sneaky marketers in the comments.

      • Loopholio on 07/02/2023 - 16:36

        Oh hell yeah I want a ladygasm! I'll sign up as soon as I get home.

  • ozbar on 06/02/2023 - 09:32
    +1

    Their bank agent at the glen waverley scold people for opening accounts lol. Their helpline was cool though.

    • payless69 on 06/02/2023 - 10:11
      +1

      Humans are humans, I met some lazy ones at Bendigo…..
      From Google AI:
      Is Bendigo Bank in trouble?
      Bendigo Bank 'named and shamed' for systemic mistreatment of Great Southern borrowers. The Banking Code Compliance Committee (BCCC) has sanctioned the Bendigo and Adelaide Bank by naming it in its 2019-2020 Annual Report for systemic breaches of the Banking Code of Conduct (2013 version). It was the only bank named.4 Oct 2020
      LOL….

    • DoctorCalculon on 09/04/2023 - 14:54

      Their bank agent at the glen waverley scold people for opening accounts

      WTF! Could you elaborate further? Are they scolding people for wanting to take advantage of this promo?

  • payless69 on 06/02/2023 - 09:43
    +1

    Thanks OP!
    Worked flawless for me.
    Sent $50 from Ubank, waiting to show up.

    • payless69 on 07/02/2023 - 16:38

      And: Ubank got the money back!

      • Danstar on 20/02/2023 - 19:12

        Same. Sent via commbank and instantly got money back saying “blocked” lol

        • Graffin on 01/03/2023 - 02:07
          +1

          Seems they don’t support Osko transfers which is what most banks and credit unions use. I called customer service and there’s a 5 page form you need to take to a JP or post office to get your ID verified for electronic transfers - then you can use Osko, PayID, etc.

          They don’t make it easy!

  • keejoonc on 06/02/2023 - 09:59
    +3

    Easy 2 min sign up for me.

    • Gooddeal21 on 18/04/2023 - 15:24

      easy sign up for me except that I don't know my member number I only have my account number so I can't login, but I got a pwd received on sms

  • ozstig on 06/02/2023 - 10:15
    +1

    Getting an error from Ubank stating "unable to make this payment as account may be closed" when I try to deposit $50. Anyone else having trouble?

    • MythicalPeanut on 06/02/2023 - 10:27
      +1

      I've got the same issue.

      I've tied with ubank and comm bank. Might try on desktop later in the day instead of the apps.

      Edit- transferred on desktop using comm bank and it's pending

    • smerm07 on 06/02/2023 - 10:50
      +3

      Yep getting the same transferring from CBA

      Tested from Macquarie. Looks like it's gone through but processing. CBA was instant reject and refund.

      • smerm07 on 06/02/2023 - 15:26
        +2

        deposit just cleared/hit my IMB account.

    • [Deactivated] on 06/02/2023 - 17:31
      +2

      Same thing happened with another bank several days ago. Just schedule the payment to go through tomorrow.

    • reloxation on 26/02/2023 - 10:39
      +1

      Reason for this is they disable Osko until you show a form of ID at their PHYSICAL branch, such a pain. Anyway, when you schedule a payment through Ubank it goes through as an EFT rather than Osko, hence why it works

  • expertreader on 06/02/2023 - 10:17
    +1

    Had IMB account in 2018 so not eligible :)

  • JTR on 06/02/2023 - 10:51
    +3

    $50 for five minutes of work from go to woe. Thanks OP!

  • unfunkable on 06/02/2023 - 10:57

    trying to xfer funds from ING I get this error
    Sorry, A technical error is preventing us from processing your payment
    edit: worked fine from NAB account

  • blehgg on 06/02/2023 - 11:30

    yea can't seem to transfer… guess its the stupid "require ID check thing"

    even though they provision the Bank Account… still not POI'd?

  • keejoonc on 06/02/2023 - 11:33
    +2

    Tried transferring $50 from ANZ and it bounced back.

  • 9999fine on 06/02/2023 - 11:43
    +2

    Tried with Up and NAB, keeps getting rejected. Suspect they have shut this deal down.

  • cook99 on 06/02/2023 - 11:52

    Setup account just fine but internet banking won't log in 🙃

  • herysoe on 06/02/2023 - 12:21

    Can you actually open on 20/4 and transfer $50 (presumably it got transferred), then take out the money again on 23/4, would you still get the $50?

  • gadgetguy on 06/02/2023 - 12:21
    +2

    Straightforward sign up, login and $50 transfer from Macquarie. Calendar reminder set.

    Thanks OP.

  • Empharand on 06/02/2023 - 12:39

    "Unfortunately we are unable to proceed with opening your account online"

    Lol

  • space cadet on 06/02/2023 - 12:40
    +3

    Has anyone actually had the $50 transfer appear in their IMB account?

    My transfer from ING was rejected with the same message others have reported ("Sorry, A technical error is preventing us from processing your payment").

    A transfer from Bankwest appears to have gone through on the Bankwest side, but is not appearing on the IMB side. I believe both use OSKO so I'd expect the transfer to be instant.

    • ganjadeals on 06/02/2023 - 14:35
      +1

      Mine failed both times I've tried. Account was opened about an hour ago and this is the error from the sending bank - "payment you sent was rejected by the payee's bank and returned to your account."

  • gadgetguy on 06/02/2023 - 12:48
    +1

    I'm not able to set up the PayID - it shows me my email is available, I select it and get the T&C. When I accept, it goes to a page saying "nothing to show".

    This is in the app - cannot see any way to set it up online.

  • Frozensage on 06/02/2023 - 13:00

    with these bonuses can u take it out soon as you deposit it in?

  • Ryder08 on 06/02/2023 - 13:00
    +5

    I took up this offer twice and both times I had to follow up multiple times to get the $50. Not worth it.

    • movieman on 06/02/2023 - 20:32
      +1

      Thanks for sharing.

      Sounds like a pain to deal with IMB then.

  • YoBargain on 06/02/2023 - 14:50

    Do they have any referral offer as well ?

  • frank21cn on 06/02/2023 - 15:46
    +1

    Transferred $50 from commbank, but bounced back.

  • 9999fine on 06/02/2023 - 17:08

    Got a reply from them. Seems like osko isn't enabled unless you go to a branch and fill out some forms. Standard bank transfer should work:

    Given you are electronically identified, you are unable to send or receive OSKO payments.
    You may still transact on the account by completing an 'External Transfer' which has a standard processing time of 1-2 working days.
    To enable access to OSKO, you will need to visit an IMB Branch and present your physical identification documents. If you are unable to visit a branch, please let us know and we can arrange to email or post the relevant forms to you.

    • space cadet on 06/02/2023 - 17:22

      Interesting. I see no option via ING or Bankwest to "force" an "External Transfer" as opposed to the default OSKO payment that the banks use. However, while my payment attempt via ING failed right away, Bankwest's did not - and I note that my Bankwest account has been debited $50 but no credit has yet appeared in my IMB account; this suggests that Bankwest may have tried OSKO and then automatically deferred to an "External Transfer" when it failed? Just speculation on my part.

  • keejoonc on 06/02/2023 - 17:29

    Had the issue with Osko payment when trying to transfer to MyState bank account as well. Transfer from HSBC worked fine.

  • bohn on 06/02/2023 - 17:47
    +1

    they have such crap systems.

  • bargain brendo on 06/02/2023 - 18:07

    Does anyone know if there are any negative effects to signing up for many of these bonus bank account offers? Does it effect your credit score at all?
    Also, can you close the account and be considered a "new customer" in a year's time?

    • zeuradin on 06/02/2023 - 19:27

      Given you are not borrowing money / taking credit or deferring a payment, but rather just opening up a deposit account (as opposed to a loan account), there won't be any effect on your credit score.

  • wangasm on 06/02/2023 - 19:05
    +4

    There does not seem to be a sign up limit to this one.
    So you could just sign up in April right before the end of the promotion rather than leaving your $50 with them for 2+ months.

    • ninohax on 07/02/2023 - 14:34

      yep seems to be the case as long as they don't have an hard limit to as to how many people can avail of this offer

  • Dr-Bargain on 06/02/2023 - 20:55
    +1

    got this:
    Unfortunately we are unable to proceed with opening your account online

    • Autonomic on 06/02/2023 - 22:10

      Me too

    • johninmelb on 07/02/2023 - 21:44

      I also got it, but later on I got the email saying my account was set up. Got the sms overnight with the temporary password to log in.

      But still unable to transfer money from ING.

  • froodh on 06/02/2023 - 22:28
    +1

    (up to) 3.75% interest
    The mystate deal is for 4% https://www.ozbargain.com.au/node/753793

    Unless all you are doing trying to get the $50 and then close the account…

  • Fastbed on 07/02/2023 - 06:15

    Will IMB send you a debit card as normal or you have to request a physical card?

  • blehgg on 07/02/2023 - 17:52
    +1

    gave them a call…

    for those having issues with transfers. - they only enable OSKO once ID has been confirmed.

    Schedule payment for next day and it should work

    • Fastbed on 09/02/2023 - 06:36

      Correct,scheduled payment worked.

  • Hugh G Rection on 07/02/2023 - 19:05

    Won’t take my money from commbank

  • Mysterious on 07/02/2023 - 19:35
    +1

    I haven't seen this answered but, are you able to deposit $50 within 7 days, send it out, then send $50 a day before 21/04/2023?

    • gadgetguy on 07/02/2023 - 20:29

      The wording says "and maintain a balance of $50….."

      I'd say not.

  • Loopholio on 07/02/2023 - 22:38

    Thank you, your account has been successfully opened

    They sent me an SMS with my password, but no email with my Member Number. Guess I'll check wait until tomorrow.

    • strid on 08/02/2023 - 05:21

      Me too and the $50 I transferred has been returned.

      • Loopholio on 08/02/2023 - 15:36

        I got the email with my Member Number the next day just after 7am. It's all setup, now I just have to wait for my free monay!

  • bluetongue on 08/02/2023 - 09:56

    I had payments from StGeorge and ANZ rejected. On calling IMB about the transfer issues, I was informed that OSKO payments were not allowed until ID forms sent by snail mail were were completed, certified and then mailed back to IMB or a visit to the local IMB branch to show ID was done. The mail option is unlikely to be completed within the 7 days of opening the account in order to receive the bonus. The other option advised to me was to transfer money by EFT to the account. I tried this from ANZ and the transfer was rejected. I told the person on the service call that information regarding transfer conditions should be emailed to consumers to avoid wasting time trying to transfer funds that are rejected by IMB.

  • SJ50 on 08/02/2023 - 10:19

    has anyone received email with "Open an IMB transaction account today and enjoy a $50¹ bonus on us by following these simple steps. Hurry, offer ends 25/03/2023."

    • gadgetguy on 08/02/2023 - 11:01
      +1

      Yep just signed up.

      Be careful though as some of the transaction accounts have monthly fees, as does the Visa debit card.

      I picked the Everyday Account and Eftpos card which have no monthly fees. The card has a usage fee but I'll never use it.

      You only have to maintain the balance for 1 month in order to get this bonus.

      • edrift on 08/02/2023 - 11:22

        Did you have issues transferring in the $50?

        Mine rejected

        • gadgetguy on 08/02/2023 - 11:27

          Nope. Sent by Macquarie, same as for the Savings account. Obviously not arrived yet but the $50 to Savings arrived overnight.

          • edrift on 08/02/2023 - 11:39

            @gadgetguy: Tried via Macquarie and it worked.

            Seems like Westpac was trying to do it via osko despite using the bsb seems account number

    • edrift on 08/02/2023 - 11:11

      Yep just got that too

    • OzBargains4Me on 14/02/2023 - 19:39

      Can someone please post an image of the email that shows the requirements?

    • SydOzber on 15/02/2023 - 13:25

      Is that a different targeted promo ?

  • gadgetguy on 08/02/2023 - 11:10

    So as mentioned elsewhere, they will not enable PAYID or Osko until you have your documents physically verified at a branch (very inconvenient for me) or by posting them certified copies.

    Very backwards. Clearly don't trust their own online verification.

  • johninmelb on 08/02/2023 - 21:06

    Has anyone worked out how to get the money transferred to the new account? ING keeps giving me technical fault. This is just beyond stupid.

    Guessing it is some sort of bait and switch scam - offer free $50, but set the hurdles so high no-one can reach them.

    • edrift on 08/02/2023 - 21:33

      You need to bank with Macquarie

    • Legoman on 06/04/2023 - 14:12

      Tranfers from Great Southern Bank, Newcastle Permanent Building Society and Macquarie Bank all work perfectly seemlessly as Pay Anyone transfers first time without any bother at all. First hand experience doing so from all three source banks.

  • johninmelb on 09/02/2023 - 14:06
    +2

    Sent a savage online message to IMB yesterday telling them to fix the problem. They've called me today, and because of the OSKO problem, nothing they can do unless I go to a branch. Only one in Melbourne in Glen Waverley, miles from where I live. Alternative is get forms posted, fill them in and post back. That cannot be done within the seven days to qualify for the bonus. Told them to close the account.

    Totally useless bank and the upshot of this conversation is that they basically don't care. Not an organisation you would want to deal with anyway.

    Strongly suspect some work experience student in the marketing department dreamed up this fiasco, and no-one did due diligence on the feasibility of it. Either that, or the bar was set so high to qualify that no-one would and they wouldn't be paying out any $50 bonuses. Although, as I said above, my money is on a classic bait and switch scam.

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