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ING Savings Maximiser

ING Savings Maximiser

3.4 from 85 reviews · View Statistics

Reviews

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    2.4 (15)
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Sven

SvenNew South Wales

Best I can find

published

If you want to optimise interest on your savings it seems you need a portfolio of savings accounts to ensure you meet the conditions of those accounts each month. Best unconditional rate savings account I can find is Macquarie Bank. But by putting say 80% of my savings with ING and drip feeding it each month to ensure I meet the criteria and can absorb ebbs and flows in my savings, I earn more interest.
Their growing conditions as other reviews state do seem unreasonable. On the other hand they offer a higher interest rate than other banks outside of age restricted or temporary rates, so I am prepared to cut them some slack.

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Wendy

WendyQueensland

  • 2 reviews

Was very good now not

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Steve G

Steve Gwestern district

  • 11 reviews
  • 5 likes

ING penalises Retirees!

published
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1 comment
Steve G
Steve G

Pulled $75000 out today goodbye ING wont be back.
I see you have dropped rates to 1.3% and forgot to tell us, greedy cheats,

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wato

watoSydney, NSW

  • 9 reviews
  • 9 likes

more and more conditions

published

Once again ing have added another condition to be able to earn bonus interest. Next one will be the sun will have to rise in the west to get it. Way things are going they'll be losing my business

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Stop playing games and making us jump through hoops to get the good rate

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Targeting pensioners and people out of work.

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I changed to ING after the recommendation in "The Barefoot Investor" and had been very happy with them. No longer! ING's new requirement to now have a greater savings balance as the end of the current month as compared to the previous month is truly annoying and somewhat underhand. As self-funded retirees, there is no way we can achieve this as it is a fine balance between income and expenditure. I feel this would be the same situation for anyone on the dole or pension. Why should we jump through hoops trying to work out a way to get around this situation eg transferring money between accounts etc.
Where to go now? Scott Pape is recommending Ubank, Up or ME Bank.

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Neil T

Neil TGreater Melbourne (Metropolitan), VIC

  • 9 reviews
  • 8 likes

New Savings maximiser bonus interest requirement is both petty & devious

published

(ReviewDate = 24 Mar 2021) ING's new requirement to now have a greater savings balance as the end of the current month as compared to the previous month is truly annoying and somewhat underhand. Plus the way it is worded is ambiguous, i.e. It doesn't include the interest about to be paid for this month but it does include all interest paid last month.

They should raise the 100K cap eligible for bonus interest if they are going to do this sort of thing.

Grrrrhhh!

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New changes in March makes it bad

published

The updated terms to get bonus interest is hard if you do not grow your account balance you won't have your bonus interest. ING used to be good, not anymore.

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Devious and most disappointing, ING is so desperate that they are willing to trade their reputation for profit only

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Ria

RiaWide Bay-Burnett, QLD

Thumbs down to the changes that take effect in March. Now changing banks.

published

I have banked with ING for about 20 years, but with the changes to the interest earning conditions that take effect on March 1, I am looking at other banks and will be pulling all my savings out. I used to love the ING savings maximiser account, but not any more! Very disappointed!

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Corey M

Corey MPerth, WA

  • 10 reviews
  • 22 likes
  • Verified

Was good until they added another requirement for bonus interest.

published

Was good until they added another requirement for bonus interest. "from 1 March 2021 we'll be introducing one new additional requirement that you'll need to be aware of, and it's that your savings need to grow each month."

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Dorothy Godsk

Dorothy GodskSouth-Eastern Region, NSW

  • 19 reviews
  • 15 likes

I have been with ING for a number of years.

published

This year there have been a few rate cuts, with ING I will be checking around now to see what others are saying about UBank. We do not work anymore and the rates over the years have not been kind for those who are not working and rely on their Savings as well as those who are indeed working like to see their savings grow and not go the other way. ING have always been good but the rate changes are making us change our mind like others as to what we do next.

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1 comment
Dorothy Godsk
Dorothy Godsk

This is my review I submitted. Thank you.

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Tam

TamNewstead

  • 9 reviews
  • 4 likes

Was good. Now not so much

published

I really liked my Savings Maximiser. It was easy to use and ING are good to bank with. However the rate has dropped over the last year and for the last 2 months Ove been missing my bonus, despite meeting their requirements.

Ive moved to a different provider where the rate is guaranteed

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Slasherbee

Slasherbee

  • 3 reviews
  • 3 likes

Used to love but disappointed with savings maximiser

published

The rate on the Savings Maximiser has been reduced 5 times in the past 12 months. I am really disappointed and not sure what is going on with ING but they are definitely not what they were a few years ago.

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HB

HBMelbourne

  • 5 reviews
  • 8 likes

The Almost No Interest Savings Account

published

The interest rate has gone down 3 times over a short period of time to such a rediculously low rate that you couldn't call it a savings account anymore. Very disappointed with ING. I will be looking for alternatives.

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Interest Rate Dropped 1% in 9 Months

published

Used to be great account perks and no fees, yet they drop the interest rate rapidly and drastically. Looking for better options. Used to be good support, now I've been waiting 25 minutes on the phone. Blocked my account for no reason and I not cannot access my funds.

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Helen

HelenGreater Melbourne (Metropolitan), VIC

  • 2 reviews

Cannot open a Youth Savers Account without a tax assessment or other bank account

published

So you cannot open a youth savers account without a statement from another bank account or a tax assessment notice. So how do young people start out? obviously not with ING. Why would you open an ING account if you already have one, and to start working you need account for salary so you don't have an tax assessment until you start working. I cannot imagine there are many youth accounts with ING. Not something they support.

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Pinkshadows

PinkshadowsGreater Melbourne (Inner), VIC

  • 6 reviews
  • 10 likes

Left ING 2 days ago, savings int rate gone down

published

ING has gone downhill. They kept slashing their savings interest rates and on top of that, you have to use your debit card at least 5x a month to get the full interest rate. Moved to Ubank for better interest rates without the ridiculous conditions ING has. Will never look back.

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Lily C

Lily CSydney, NSW

Liability o interest rate due to false notification

published

Yep, they were good - but with this 5 transaction rule - and no notification that I wasnt meeting it - I have not been getting the interest since Feb - then ING send a customer email saying saying that high interest rate has dropped which implies that I was still getting it - only cause I called I was told I am not - I believe that I am liable.... better banks out there.....

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Opening children saving maximizer

published

Don’t even go there. I have told them we are not going to do business with them. Here is the event:
What a hassle opening minor children accounts. They need to provide iD including residential iD. Who is going to give an iD fir child with residential address on it. They don’t have it so ING refused to let them open their individual accounts. I am not going to give my business to jerks who are asking the minors to open an account by them self and provide iD. I am going to report to Banking Ombudsman.

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Page 1 of 5

Questions & Answers

Steve G

Steve Gasked

So when are you going to all send them a firm message? No Way ING.

2 answers
Carolyn
Carolyn

I am changing to MEbank at the moment as any of my phone comments are obviously not going to make a difference.

wato
wato

Closing my term deposit in two weeks

Paul harvey

Paul harveyasked

Would you give me a loan for 90.0000 and i will pay it back after may 12th

1 answer
Paul harvey
Paul harvey

Yes

WizardofAUS

WizardofAUSasked

Does ING cover the $250,000 Bank guarantee when it comes to insurance?

1 answer
trompfy
trompfy

For your insurance I would recommend going to Westpac or RACV.

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Details

CategorySavings Accounts
Release dateOct 2008

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