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ING Business Optimiser

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Optimise your excess business capital in an online savings account that pays you bonus interest for new accounts.

There is no balance requirement to make or any monthly fees for this business savings account, but you are allowed to provide access to it for up to four of your partners or employees. Link it to your business’ transaction account and you could have total access to your money when you need it, and the freedom of adding to your savings when you don’t.

1.25% p.a.

Maximum variable rate

0.25% p.a.

Base interest rate

1% p.a.

Bonus interest rate

for 6 months

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Details

Product NameING Business Optimiser
Maximum Variable Rate1.25% p.a.
Standard Variable Rate0.25%
Bonus Variable Rate1.00%
Monthly Account Fee$0
Minimum Opening Deposit$0
Minimum Age18

Expert review

Shirley Liu

Review by


Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

Expert review

ING is an online bank – be prepared to do most of your banking online.

Key features

A fee-free savings account

You pay no fees to ING for the savings account, although there could be fees with the transaction account that it is linked with.

0.25% p.a. standard interest rate

The ING Business Optimiser offers a competitive standard rate of interest.

Launch savings calculator


How to apply

If you have determined that the ING Business Optimiser is the type of account that can boost your business savings, you can start an online application by visiting ING website.

Eligibility

There will be some eligibility requirements that you will need to meet before getting started, such as:

  • Minimum age. This account is only available for individuals aged 18 and over.
  • Residency requirements. You must be an Australian resident with an Australian residential address.

FAQ

Ask an expert

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26 Comments

  1. Default Gravatar
    Debb
    March 13, 2020

    Can clients pay directly into the Business Optimiser account?

    • Default Gravatar
      Ash
      March 13, 2020

      Hi Debb,

      Thank you for reaching out to Finder.

      Your clients may not directly deposit their payment to the ING Business Optimiser Account. Rather, you should have a Transaction Account linked to your Business Optimiser Account, which should be under the same Business Name, to which your clients will be depositing their payments to. Then you may have up to 4 authorised employees who will manage your Business Optimiser Account, to transfer money in and out of the account from your linked Transaction Account.

      Please make sure that you’ve read the relevant T&Cs or PDS of this account to help consider whether the product is right for you.

      I hope this helps.

      Cheers,
      Ash

  2. Default Gravatar
    MacDonnells
    August 14, 2019

    Hi, we are current ING account holders, am I able to open a ING Business Optimiser account?

    • Default Gravatar
      Nikki
      August 14, 2019

      Hi MacDonnells Law,

      Thanks for leaving a question. If you are an existing ING client? Just login to Online Banking, go to ‘Apply for Products’, choose “Business”, then “Business Optimiser” and following the prompts.

      Along with your application form, you need to mail ING:

      1. certified documents to verify your business;
      2. an original encoded deposit slip from the bank account you wish to link.
      Alternatively, a recent bank statement (no more than 6 months old)
      3. a copy of identification documents for each nominated authorized user such as a current Australian Drivers License, Birth Certificate or Australian Passport

      If you are able to visit Sydney CBD, one of ING’s staff at the ING Lounge can assist you with your online application.

      Hope this helps. Feel free to reach out to us again for further assistance.

      Best,
      Nikki

  3. Default Gravatar
    Warren
    February 6, 2019

    I am interested in opening an ING Business Optimiser Account. Do I have to open a separate linked account with ING or can I use my existing Westpac business account?

    • Avatarfinder Customer Care
      Jeni
      February 11, 2019

      Hi Warren,

      Thank you for getting in touch with finder.

      You may use your existing Westpac business account. As per the FAQ part of this page you’re looking at, the account you link to the Business Optimiser must be a business account, and it can be from any Australian institution. The account must have a BSB and account number.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  4. Default Gravatar
    Anna
    December 20, 2018

    Hi, im looking at the high intrest saving account fr business. when you say that the intro offer is 2.5% p.a for 6 months.
    Can you please explain how much interest do I make in 1 month? and could I leave the money for 5 months only?

    • Default Gravatar
      Nikki
      December 20, 2018

      Hi Anna,

      Thanks for getting in touch! The introductory 2.5% offer for 6 months means that the amount on the account will earn 2.5% each month in the first 6 months when you open an account. Your interest is calculated daily on the closing balance and added to your account at the end of each month, so you earn interest on your interest. You can withdraw the money anytime it’s needed and there is no minimum balance to keep the account. Hope this clarifies!

      Best,
      Nikki

  5. Default Gravatar
    Trish
    December 19, 2018

    Could I open a bank account and a savings account in ING Business Optimiser, in the name of a discretionary or family trust?

    • Default Gravatar
      Ash
      December 20, 2018

      Hi Trish,

      Thank you for contacting finder.

      Yes, you may open an ING Business Optimiser account under a Family Trust but the Authorised Users should not exceed 4 trustees.

      I hope this helps.

      Please do not hesitate to reach out again if you have additional questions.

      Cheers,
      Ash

  6. Default Gravatar
    renee
    June 27, 2018

    hello do I need to have min month deposits?

    • Default Gravatar
      Nikki
      June 27, 2018

      Hi Renee!

      Thanks for reaching out to us here.

      The ING Business Optimizer doesn’t have any minimum or balance requirements.

      Hope this helps. For any clarifications, feel free to message us again.

      Cheers,
      Nikki

  7. Default Gravatar
    Wade
    March 30, 2018

    Im interested in talking to somebody about changing banks

    • Avatarfinder Customer Care
      May
      March 30, 2018

      Hi Wade,

      Thanks for getting in touch.

      If you’re thinking of changing your business savings account, you may like to check your options on this page. Please review the details and T&Cs of the account to get more info and consider whether the product is right for you. You can also get in touch with bank directly if you need to discuss your options. Just click on the ‘Go to site’ button if you wish to be redirected to the bank’s website as well.

      Hope this helps.

      Cheers,
      May

  8. Default Gravatar
    Naomi
    March 20, 2018

    Hi there, with this business account do i get a debit card attached to the account for business expenses?

    • Default Gravatar
      Joel
      March 22, 2018

      Hi Naomi,

      Thanks for leaving a question on finder.

      ING Business Optimiser doesn’t come with a debit card as it’s a savings account.

      You may want to consider business bank accounts as they do come with a linked debit card.

      Cheers,
      Joel

  9. Default Gravatar
    Mayte
    February 22, 2018

    What is a linked account and why do I need to have one. What type of operations will I do to need a linked account. Is it mandatory to have a linked account? Can I transfer money to another savings account if I don’t have a linked account?

    Thanks
    Mayte

    • Default Gravatar
      Ash Munoz
      March 10, 2018

      Hi Mayte,

      Thank you for visiting finder.

      You will need a Transaction Account linked to your ING Business Optimiser Online Savings Account to be able to withdraw money in case you need it. The linked account should also be a business account and under the same name as your savings account.

      Only a Transaction Account can be linked so you can transfer the money from your savings account via online, phone or by branch.

      I hope this helps.

      Let us know if there is anything else that we may assist you with. Enjoy the rest of your day!

      Cheers,
      Ash

  10. Default Gravatar
    Ros
    February 18, 2018

    Are there fees for international transactions?

    • Avatarfinder Customer Care
      Jonathan
      March 7, 2018

      Hi Ros, thanks for your inquiry.

      International transactions are not supported with this savings account. You will need to link a transaction account in order to complete international transactions. You can compare personal savings accounts with ING here.

      Best,

      Jonathan

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