ING introduces new Everyday round up feature
ING customers can opt to have transactions rounded up with the difference automatically added to their savings.
ING has today launched a new feature to its popular transaction and savings accounts, Everyday round up. The feature will allow customers to opt in to having their daily transactions rounded up and the difference deposited into their savings account. The feature is currently in testing phase and will be offered to all customers later this year.
The concept is similar to that offered by micro-investing app Acorns, where investors can have their daily purchases rounded up to the nearest dollar amount they choose and the difference invested in the share market on their behalf. The concept has become popular with millennials as a 'set-and-forget' investment strategy that doesn't require much time or effort.
ING customers can choose to have transactions debited to their Orange Everyday account rounded up to the nearest $1 or the nearest $5. The remaining money would be deposited into their linked savings account, either the ING Savings Maximiser or ING Savings Accelerator. For example, if $3.50 was debited for a coffee, the remaining 50c or $1.50 would be sent to savings.
The feature is designed as a form of forced savings. However, if the customer has less than $20 in their Orange Everyday account, the roundup wouldn't occur. ING customers can activate Everyday round up via their mobile banking app or online banking, and select if they'd like transactions to be rounded up to $1 or $5.
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is this feature available now ?? also can you link any card to it or does it have to be a ing card ??
Hi Walter,
Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?
The ING Everyday Round-Up is available now and you’ll need an Orange Everyday account for rounding up your card purchases and a Savings Maximiser to deposit your roundups.
Hope this helps. Feel free to message us again if you have further questions.
Cheers,
Nikki
To use the ‘Round Up’ feature, do you need an Orange Credit card?
Hi Ed,
You can use the Round Up feature with an ING Orange Everyday transaction account, linked to an ING Savings Maximiser account. You can take a look at this transaction account here: https://www.finder.com.au/ing-direct-orange-everyday-transaction-account
Thanks,
Alison.
Why do not show Ubank or Rams on your list of savings accounts, when their savings rates are better than the ones you do show?
Hi Mike,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
We do have pages that feature both Ubank(https://www.finder.com.au/bank-accounts/ubank-savings-accounts) and Rams(https://www.finder.com.au/rams-saver-savings-account).
I hope this helps.
Cheers,
Danielle