ING Direct is ending its 2% cash back promotion

Peter Terlato 26 July 2016

Time is money

payWave bonus offer for customers will finish next month.

ING Direct Australia has announced it will wrap up its cash back offer for new and existing customers at the end of September.

The bank's cash back promotion has been available to Orange Everyday account holders for the past three years, with eligible customers receiving 2% back on all payWave transactions of $100 or less.

In a note to customers, ING Direct says keeping the cash back offer would mean making changes to some of the other services/benefits the bank offers.

Currently Orange Everyday customers are entitled to free, rebated ATM use everywhere in Australia, no monthly account fees, free mobile banking and 24/7 customer care.

In order to effectively continue to sustain these services, ING Direct will cease its cash back promotion on 30 September 2016.

"Rest assured that as Australia's most recommended bank we still believe your Orange Everyday account will continue to deliver the best value, service and convenience," the statement says.

The discontinuation of the offer means there are no longer any Australian financial institutions providing cash back incentives for new customers.

However, ING still offers a $75 cash back bonus when you switch to or open a new account. Simply deposit $1,000 or more within the first calendar month by 25 December.

To see the full range of promotions Aussie banks are offering this month, check out our special offers guide for July.

If you're thinking of opening a new account or switching institutions, take advantage of our ultimate bank account comparisons guide to find one that suits your needs best.

Picture: Shutterstock

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