Compare ING Everyday Banking and Saving

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ING received its Australian banking licence in 1999 and it now has more than 1.5 million customers and over 950 employees. It provides its customers an array of financial services and products like everyday banking accounts, savings accounts, home loans and superannuation solutions.

ING savings account offer

ING SMSF Cash

2.20 % p.a.

max rate

1.35 % p.a.

standard variable rate

ING savings account offer

Introductory rate of 2.20% p.a. for 6 months, reverting to a rate of 1.35% p.a. Available on balances below $1,000,000.

  • Maximum Rate: 2.20% p.a.
  • Standard Variable Rate: 1.35% p.a.
  • Introductory period: 6 months
  • Monthly fees: $0.00
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Rates last updated December 12th, 2017
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
ING Orange Everyday Account
Visa
$0
$1,000
$75 cash bonus & Apple Pay available.
Get a competitive ongoing variable rate when linked with an ING Savings Maximiser. Receive a $75 cash bonus if you open a new Orange Everyday account, enter the promotional code and deposit at least $1,000 within a calendar month (conditions apply)

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Rates last updated December 12th, 2017
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
ING SMSF Cash
2.20%
1.35%
0.85%
$0
$0 / $0
Introductory rate of 2.20% p.a. for 6 months, reverting to a rate of 1.35% p.a. Available on balances below $1,000,000.
ING Living Super
1.05%
1.05%
0.00%
$5
$0 / $0
Ongoing, variable 1.05% p.a. (conditions apply)
ING Savings Maximiser
2.80%
1.35%
1.45%
$0
$0 / $0
Ongoing, variable 2.80% p.a. when you link to an ING Orange Everyday bank account and deposit $1,000+ each month (and from 1 March 2018 make 5+ card purchases a month). Available on balances up to $100,000.
ING Savings Accelerator
2.20%
2.20%
0.00%
$0
$150,000 / $0
Ongoing, variable 2.20% p.a. applies on balances $150,000 and over.
ING Business Optimiser
2.20%
1.35%
0.85%
$0
$0 / $0
Introductory rate of 2.20% p.a. for 6 months, reverting to a rate of 1.35% p.a. Available on balances below $1,000,000.

Compare up to 4 providers

Rates last updated December 12th, 2017
$
Name Product 3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. 48 Mths p.a. 60 Mths p.a. Min Deposit Interest Earned
ING SMSF Term Deposit
2.00%
2.25%
2.00%
2.55%
2.75%
-
-
-
$10,000
ING Term Deposit
2.00%
2.25%
2.00%
2.55%
2.75%
-
-
-
$10,000
ING Business Term Deposit
2.00%
2.25%
2.00%
2.55%
2.75%
-
-
-
$10,000

Compare up to 4 providers

Rates last updated December 12th, 2017
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
ING Orange Everyday Account
Visa
$0
$1,000
$75 cash bonus & Apple Pay available.
Get a competitive ongoing variable rate when linked with an ING Savings Maximiser. Receive a $75 cash bonus if you open a new Orange Everyday account, enter the promotional code and deposit at least $1,000 within a calendar month (conditions apply)

Compare up to 4 providers

Rates last updated December 12th, 2017
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
ING SMSF Cash
2.20%
1.35%
0.85%
$0
$0 / $0
Introductory rate of 2.20% p.a. for 6 months, reverting to a rate of 1.35% p.a. Available on balances below $1,000,000.
ING Living Super
1.05%
1.05%
0.00%
$5
$0 / $0
Ongoing, variable 1.05% p.a. (conditions apply)
ING Savings Maximiser
2.80%
1.35%
1.45%
$0
$0 / $0
Ongoing, variable 2.80% p.a. when you link to an ING Orange Everyday bank account and deposit $1,000+ each month (and from 1 March 2018 make 5+ card purchases a month). Available on balances up to $100,000.
ING Savings Accelerator
2.20%
2.20%
0.00%
$0
$150,000 / $0
Ongoing, variable 2.20% p.a. applies on balances $150,000 and over.
ING Business Optimiser
2.20%
1.35%
0.85%
$0
$0 / $0
Introductory rate of 2.20% p.a. for 6 months, reverting to a rate of 1.35% p.a. Available on balances below $1,000,000.

Compare up to 4 providers

Rates last updated December 12th, 2017
$
Name Product 3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. 48 Mths p.a. 60 Mths p.a. Min Deposit Interest Earned
ING SMSF Term Deposit
2.00%
2.25%
2.00%
2.55%
2.75%
-
-
-
$10,000
ING Term Deposit
2.00%
2.25%
2.00%
2.55%
2.75%
-
-
-
$10,000
ING Business Term Deposit
2.00%
2.25%
2.00%
2.55%
2.75%
-
-
-
$10,000

Compare up to 4 providers

Awards that ING has earned

  • 2014 Auscontact Association National Awards. Winner of the Contact Centre of the Year Award.
  • 2014 International Customer Service Professionals (ICSP) People's Choice Awards. Awarded the Customer Service Champion Team Award.
  • 2013 Australian Mobile Awards. ING mobile banking app adjudged a winner.

Who is ING?

ING provides different types of transaction and savings accounts, enabling you to choose in accordance to your requirements. It gives customers easy ways to bank, via online banking, mobile banking, phone banking, as well as a round-the-clock Australia-based customer care centre. Whether you’re looking at easy access or long term savings, ING might have something for you.

You can also view its latest TV campaign with Isla Fisher below.

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What’s internet banking like for ING?

ING provides a mobile banking app and an online banking platform. The mobile app gives you easy access to account balances, you can use it to make bill payments and transfer funds, you can activate new cards or place existing ones on hold, and you can use it to schedule payments. The online platform also gives you the ability to change personal and contact details. Its online security guarantee protects you from liability towards unauthorised transactions. The online banking system makes use of 128-bit SSL encryption to keep transmitted data safe.

Notable features include:

  • An app for Windows enabled mobile devices in addition to apps for devices that use iOS and Android
  • Open new accounts online

Mobile banking app

The mobile banking app lets you store your client number so you can just put your pin in and it logs you on. If you need to check your balance, you don't need to remember what your password is.

Contactless payments with Android Pay

Google's Android Pay is now available for ING customers who have a compatible Android device and the Orange Everyday debit card. This means you can use your phone (or any Android device) to make contactless payments for everyday items.

What about the mobile app?

Image Source: App Store
Saving MaximiserOrange EverydayCard overseas
savingingorangeingcard overseas
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What transaction accounts are offered by ING?

  • Orange Everyday

The Orange Everyday transaction account comes with a Visa debit card that you can use in Australia and overseas, at ATMs and EFTPOS terminals alike. You can use all ATMs across Australia for free when you deposit more than $1000 in your account as pay each month. This account does not attract any account keeping fees, and offers free access to BPAY.

What high interest savings accounts offered by ING?

This account gives you the ability to earn variable interest every month, no matter how many times you withdraw funds. If you have an Orange Everyday bank account, and your account receives at least $1,000 each month (and from 1 March 2018 make 5+ card purchases a month), you stand to get a higher interest rate, for balances up to $100,000. Orange Everyday account holders can access funds in this account instantly, via online, mobile, and phone banking. This account does not attract any ING fees.

  • Savings Accelerator

This tiered savings account offers higher interest rates for balances starting at the $50,000 mark, and you’ll earn even more interest when your balance exceeds $150,000. You don’t have to pay any ongoing account keeping fees, and there is no minimum withdrawal amount or fixed term. You can access money in your account via online, mobile, and phone banking. What also helps is that the Australian Government guarantees combined savings balances up to $250,000 per customer.

Cheque processing times

It takes up to 3 business days to process a cheque. However, ING processes things like salaries and refunds quite quickly, usually within the same working day.

What term deposits are offered by ING?

  • Personal term deposit

The minimum you require to open an ING term deposit is $10,000, and term period can vary from 90 days to two years. The term of the deposit tends to affect the interest you earn, with longer terms offering better rates. You stand to earn to a loyalty bonus if you renew the term deposit and don’t withdraw funds before the new term deposit reaches maturity. At maturity, you can close the term deposit, renew the principal and interest, or withdraw the interest and renew just the principal.

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What other services are offered by ING?

ING offers an array of financial services including:

  • Everyday banking. ING provides an everyday banking account that offers free ATM access around Australia and no account keeping fees.
  • Savings. You can choose between two distinct savings accounts as per your needs. Plus, if you can put some money away for a fixed time period, you can even consider opening an ING term deposit.
  • Home loans. No matter what kind of home loan you’re looking for, chances are you’ll find a suitable one when banking with ING. Your options include fixed rate and variable rate loans, equity loans, construction loans, and lines of credit.
  • Superannuation. If you’re paying unnecessary fees towards your superannuation, you can consider moving funds from your superannuation to an ING Self Managed Super Fund (SMSF) or its Living Super account
  • Business solutions. ING offerings for businesses include savings accounts, term deposits, and commercial loans.
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What are the main benefits of banking with ING?

ING customers can look forward to the following benefits:

  • Regulated. The Australian Prudential Regulation Authority (APRA) regulates the functioning of ING, and as an ING bank account holder you receive protection through the Australian Government Guarantee Scheme for combined balances of up to $250,000.
  • Commitment to sustainability. ING plays an active role in addressing community needs, and it uses its expertise and skills to benefits its community partners. As of now ING supports three key community partners: Cerebral Palsy Alliance, The School for Social Entrepreneurs, and United Way.
  • Minimal fees. ING aims to keep its fees as low as possible, and you can look forward to fee free ATM transactions, low fees with superannuation solutions, low or no ongoing account keeping fees with home loans, and fee free savings accounts.
  • Easy access to funds. ING lets you access your money when and where you need it. Access to funds, depending on the kind of account you have, can come through ATMs, EFTPOS terminals, Australia Post, online banking, mobile banking, and phone banking.
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What are the pros and considerations of ING accounts?

Pros

  • No fees. ING Orange Everyday, Savings Maximiser, Savings Accelerator, and term deposit accounts don’t attract any ongoing account keeping fees.
  • Easy account access. While you can access funds in your everyday account using a Visa debit card that is payWave enabled, you can also access the account using phone banking or ING online and mobile banking platforms. With the other accounts, you can turn to online, phone, and mobile banking.
  • Round-the-clock customer service. You can expect to speak to an ING representative at any time of the day or night by calling its Australia-based customer service call centre.
  • Positive feedback. Users have commented that ING internet banking is good, where their transaction list is very detailed.

Cons

  • No branches. This Sydney-based financial institution does not have any branches other than its customer information centre in Sydney, and some people who prefer the in-person approach might view this as a shortcoming.
  • No cheque book available. For those of you who prefer using cheques, ING doesn't provide this service. However, you can still deposit cheques into your ING account.
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How do I apply for a ING savings account online?

You need to compare the accounts offered by ING against others to make sure they suit your personal financial needs and your unique situation. If you decide one of the ING accounts suits your needs, you can apply for a new ING account online, and the process does not take much time, provided you have all the formation close at hand.

Eligibility

To apply now, simply click on the ‘Go to Site’ button, but only after ensuring that you meet the following eligibility criteria.

  • You’re over 13 years old
  • You’re an Australian resident for taxation purposes
  • You have an Australian phone number and residential address

Documentation

To complete the application you have to provide the following information.

  • Personal details like your name, date of birth, residential address, phone number, and email address
  • Documents to complete the required ID check

Before you consider opening an ING bank account, take into account that you can find similar features in accounts offered by other financial institutions, so compare a few before making up your mind.

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16 Responses

  1. Default Gravatar
    sandraJune 2, 2017

    I opened an account many years ago and still have a small amount of money which I would like to retrieve. I have a number and a pin. Can you help?

    • Staff
      RenchJune 2, 2017Staff

      Hi Sandra,

      Thanks for your inquiry. Please note that we are not affiliated with ING Direct or any company we feature on our site and so we can only offer a general advice.

      Unfortunately, your old account might be closed due to inactivity. You might like to get in touch with ING Direct directly on 133 464 and give them your details. They can further help you on this request.

      Best regards,
      Rench

  2. Default Gravatar
    RoddieMay 3, 2017

    Since you guys have no branch how will withdrawing money without no card while you wait for a new one work? And second I have my bank account plus a savings account and another savings account for my daughter who is 4 years old now how can I do that with you guys and is it possible to that?

    • Staff
      HaroldMay 4, 2017Staff

      Hi Roddie,

      Thank you for your inquiry.

      Withdrawals can be made for free from any ATM in Australia, regardless of the bank, so long as you deposit your pay of $1,000 monthly.

      I hope this information has helped.

      Cheers,
      Harold

  3. Default Gravatar
    PhillipMay 3, 2017

    I see where a debit card is with the orange everyday account but we want a credit card. Is it possible to have one as well

  4. Default Gravatar
    JimMarch 27, 2017

    I have a current home loan with ING. Do ING do personal loans OR extend home loans so that the client can purchase a motor vehicle or conduct home renovations?

    • Staff
      MayApril 7, 2017Staff

      Hi Jim,

      Thank you for your inquiry.

      Sorry for the delayed reply. I’m afraid that there’s no personal loan product offered by ING Direct. But if you want to discuss your personal loan options with other lenders, please check this page for your comparison. Meantime, if you want to know which lender offers car loan, please click this link.

      In case you also need to find out the lenders that offer home loan for renovation, they are listed here. Alternatively, you can contact ING Direct to confirm if you can extend your current home loan with them.

      Cheers,
      May

  5. Default Gravatar
    NicoleFebruary 13, 2017

    Hi, my husband and i are looking into changing our banking over and im just wondering if its possible to have more than one transaction acct (orange acct)? I vaguely remember someone telling me that you can only have one but can’t find anything about it.
    Thanks,
    Nicole

    • Staff
      MayFebruary 14, 2017Staff

      Hi Nicole,

      Thank you for your question and for contacting finder.com.au – we financial comparison website and general information service designed to help consumers make better decisions. Please note that we are not affiliated with any company we feature on our site.

      Just to confirm, are you referring to ING DIRECT Orange Everyday Account? If so, you can open actually open this account as joint account holders.

      Cheers,
      May

  6. Default Gravatar
    AnnetteJanuary 25, 2017

    Can you please clarify? I am looking at an Orange Everyday account and a Maximiser account and I find the online information a bit ambiguous. It says “If you have an Orange Everyday bank account, and your account receives at least $1,000 each month in the form of pay, you stand to get a higher interest rate”. Does this mean that $1000 per month should go into the Orange Everyday account or into the Maximiser account? If it goes into the Orange everyday account, how does that work with the interest earned in the Maximiser account?

    • Staff
      MayJanuary 25, 2017Staff

      Hi Annette,

      Thanks for your question.

      The ING DIRECT Savings Maximiser is basically an interest-earning online savings account. You will need to link a transaction account which is called an ING DIRECT Orange Everyday Account to your Savings Maximiser so that you will be able to transfer money in and out of the (Savings Maximiser) account.

      In order for you to receive the maximum variable rate of 3.00% p.a. on your Savings Maximiser, you’ll need to link your Orange Everyday Account on to it and deposit $1,000+ into your everyday account each month. Please note that the Orange Everyday account does not earn interest. It is your debit card that you can use for your transactions.

      Hope this has answered your question.

      Cheers,
      May

  7. Default Gravatar
    DianeJanuary 4, 2017

    how long does a bank transfer from ING to NAB take to clear

    • Staff
      AnndyJanuary 4, 2017Staff

      Hi Diane,

      Thanks for your question.

      NAB balance transfers normally take two to four weeks to go through.

      Cheers,
      Anndy

  8. Default Gravatar
    MyriahAugust 31, 2016

    I am an Australian moving to Amsterdam for three months. f I was to apply for an ING Direct Orange Everyday account – what sort of fees would I incur for ATM withdrawals in Amsterdam?

    • Staff
      ClarizzaAugust 31, 2016Staff

      Hi Myriah,

      Thanks for your comment.

      Withdrawals made overseas using your Visa debit card will incur a charge of $2.50 per transaction plus a currency conversion fee. This is not including any fees that may be charged by the institution that owns the ATM overseas.

      Clarizza

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