[RESOLVED] ING Savings Maximiser 'Grow Balance By' is not correct

Lsilverstone2023 on 03/03/2023 - 09:56
Last edited 09/03/2023 - 11:44

[RESOLVED] This morning I logged into the ING app to confirm that I had met the criteria to trigger bonus interest rate for April for my Savings Maximiser account - I thought I had met all of the requirements already. During this check, I noticed that the 'Grow this savings account balance by' figure was not correct. The app indicated that I needed to grow my balance so that it is greater than my February balance of $24,548.83. My February balance was $18,538.83 as I had moved $6,000 out to my Everyday account on 28-Feb. I moved $5,000 back to my Savings Maximiser account on 1-Mar and deposited $1,010 from an external account also on 1-Mar.

I called ING and the very helpful agent that answered my call informed me that this was a known issue that IT were working to correct.

You might like to check the app for yourself to see if you have the same problem, and if you do, maybe check again in a couple of days to confirm that the issue has been resolved for your account.

UPDATE: 9-Mar-23
Checked account this morning, and the issue appears to be resolved. Showing as on track for April:
* 5+ settled transactions - tick
* Deposit $1,000 from an external account - tick
* Grow balance - tick

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Comments

  • KangaDrew on 03/03/2023 - 10:31
    +13

    Weirdly precise flex, but ok

    • cheekymonkey97 on 03/03/2023 - 16:57

      How much do you earn that you think $25k is a flex? Lol

    • dealseeker8 on 20/07/2023 - 00:48
      -1

      lmao, $25k is not a flex

  • CodeXD on 03/03/2023 - 11:00
    +2

    How nice of you to create an ozb account just to let us know.

  • Ghost47 on 03/03/2023 - 11:38

    I had met the criteria to trigger bonus interest rate for April

    Why is it triggering for April when we are three days into March? Is that how ING works?

    • z barg on 03/03/2023 - 11:47
      +1

      Yeah - you have to meet the criteria for Month 1, to then earn the interest in Month 2 (and so on)

      • Agileduck on 18/07/2023 - 12:32

        Does this mean you don’t get the interest in month one? Or you automatically get it the first month?

        • z barg on 19/07/2023 - 14:42
          +1

          As far as I can remember, that is correct. No interest until month 2

  • bargin424 on 03/03/2023 - 11:47
    +1

    Thanks mate! I did exactly what you did and I have the same issue

    Wouldn't have known if you didn't post this, so thank you!

    • MS Paint on 03/03/2023 - 12:22
      -1

      I did exactly what you did

      What are the odds that you also moved $6,000 out to your Everyday account on 28-Feb.

      Bloody slim I reckon.

  • donbot on 03/03/2023 - 14:31

    Interesting OP - I move a good sum out on last day and back in on 1st day so I can ensure I have access to funds without jeopardising following month interest. Mine shows it incorrectly - shows the 1 March balance as what I need to grow it by.

    Will keep an eye on it.

  • HardQuiz on 03/03/2023 - 15:18

    Same problem here.

    I may have to contact them.

  • souths123 on 03/03/2023 - 15:21

    yes, same here. It was correct yesterday, but now showing as if I have to grow it by the 1st March balance (which is when I transfered money over). Plus I did 5 tap payments today and only 2 are showing atm…not sure what is happening about that either.

  • sjj89 on 03/03/2023 - 21:42

    Mine says ‘yes you met the criteria for Feb’ but only the standard interest has been applied, without the second bonus interest payment.

    Will give it a few days

  • Mad Max on 03/03/2023 - 22:09

    ING is also not paying the 1% cashback on qualifying bill payments as advertised. At least not in February.

    • souths123 on 04/03/2023 - 08:40

      wow, I got mine in Jan for my electricity and water?

      • Mad Max on 04/03/2023 - 11:35

        Yes it did work in January. Cashback was immediate.
        No longer working in February. They say it takes 30 days, but not very hopeful…
        Not a big deal though. I will just stop using it to pay bills.

  • donbot on 04/03/2023 - 09:26

    This morning mine shows the correct 28 Feb balance that I've got to increase above - seems they fixed it overnight.

    • silverstone2023 on 04/03/2023 - 11:34
      +2

      Mine is also showing the correct Feb balance, but I don’t have the tick indicating that I have grown my balance even though my current balance is higher than the Feb balance Also I don’t have the tick indicating that I have done 5 transactions - I did 5 transactions on the 1st and they are not showing as pending. So it looks like the problem has not been completely fixed.

      • souths123 on 04/03/2023 - 11:58

        yes, on 2nd it was showing as I had grown my account, then yesterday was showing I hadn't because I had to grow it by the amount I had deposited on the 1st?, now that is corrected, although it still shows I haven't grown it even though I definitely have…and out of 5 transactions yesterday in Coles, only 2 are showing at all (as pending) the other 3 are totally missing. Lucky I have the receipt showing all 5 transactions, so, if necessary I can show that as proof

  • snappy1234 on 05/03/2023 - 04:45
    +1

    Bit strange that they don't have a message stating this is a known issue and will be resolved by XX date…

  • ectogammat on 05/03/2023 - 12:01

    Is anyone else having issues with their settled purchases/transactions not being tracked? For the month of March I have 4 transactions that have settled. How ever the app is still showing 0 of 5. I have sent a message to ING via the app but was wondering whether this could be an issue for others.

    I also didn’t receive the utility cash back for payment made in February so that lines up with what has been reported above.

    • silverstone2023 on 05/03/2023 - 12:26

      Yes, same for me. I have 5 settled transactions in March, but the app is showing I have done 0 out of 5.

      • ectogammat on 05/03/2023 - 16:59

        Thanks for letting me know. I am hopeful the issue is already on their radar and a fix will be implemented soon. I haven’t heard back however given it’s the weekend may only hear back from ING this coming week

  • hasher22 on 05/03/2023 - 22:05

    Isn't it suppose to be over $24,548.83? You're 0.01 short

    "GREATER than my February balance of $24,548.83"

    I remember doing my ING monthly and I needed to be over the shown amount, now I am with uBank and that is so much easier. ING has too many hurdles.

  • Mad Max on 13/03/2023 - 12:14

    Has anyone had the missing cashback issue for February resolved?

    • ectogammat on 21/03/2023 - 08:03

      Yes. I contacted them and they issued a “goodwill” payment to the value of the missing utility cash back. I only had one missing and it was a pretty small amount. Given what they called it I think if you don’t contact them to request it they won’t issue it to you automatically. Hope I’m wrong.

  • ECE on 13/03/2023 - 12:51

    Im with them too and don't have any issues whatsoever.

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