ING Direct Orange Everyday Fee-Free Transactions

ING Direct Orange Everyday is the proud new flagship account of ING Direct. There are no direct charges when you get cash out with EFTPOS. Each time your withdraw $200 or more from any of the 26,000 ATMs in Australia, we’ll reimburse the ATM owner fee.

ING Direct Orange Everyday account holders get to benefit

Brett Morgan, ING Direct executive director savings said: ‘The rebate has been calculated in the long-term business case for the product and he is confident it is sustainable.’

“Our decision not to join an ATM network was taken because we think our customers should have access to every ATM in the country.”

With this welcome move ING Direct is hoping to encourage customers to change their banking behaviour and use cash-out at point of sale terminals to make withdrawals. Each time a customer takes out cash on transactions higher than $200 by EFTPOS with an ING Visa debit card, he or she will get paid 50 cents back into their account.

Whether this will suffice in changing people’s banking habits is yet to be seen. Many point of sale transactions currently include a cash-out feature.

ING Direct Orange Everyday account also features the full range of online Bpay and ‘pay anyone’ transfers. Plus customers can use the scheduled payments feature for easy banking.

But there is no credit card or cheque facility at this stage. Customers can use Australia Post for deposits and withdrawals.

The ING Direct Orange Everyday account pays no interest. Currently several other banks offer fee-free transaction accounts.

Other banks such as the National Australian Bank, Westpac and St George will waive their monthly fees if minimum deposit requirements are met.

Related posts:

1. Direct Orange Everyday Account Ingdirect.com.au/money
2. Teachers Credit Union Everyday Direct Account
3. Money Magazine Best Savings, Term Deposits & Transactions Accounts 2011