Which Bank? (2 Viewers)

[McLake]

How does this ING thing work? Joining with an existing account? What happens to the interest i'm already earning with my current bank?? confusing..

1. Open/Have regular account
2. Open ING account
3. Move money from regular account to ING account
4. Earn Uber Intrest on ING account money
5. Move money back to regular account to spend!
6. Rinse and reapeat step 3 through 6

 

[jay2000]

1. Open/Have regular account
2. Open ING account
3. Move money from regular account to ING account
4. Earn Uber Intrest on ING account money
5. Move money back to regular account to spend!
6. Rinse and reapeat step 3 through 6

haha
lol
ok..i get it now

 

[Atticus.]

horizon credit union
cept they use that gay aust idol reject luke dal santon in their ad
worst ad ever. makes me cry everytime i see it
i reckon they have lost business because of it

 

[redruM]

mclake, is the money locked in?

or can we take it out when we want?

 

[McLake]

There's like a 3 day holding period when you transfer before you can transfer it out again. I am not sure about the other end 'cause i've never tried, but it wouldn't be more than 3 days again.

No, the best part is that YOU ARE NOT LOCKED IN like you are in a term deposit.

 

[redruM]

i have been meaning to start an account with them to earn interest. i am in the process of saving, so it will help.
i wish my dad would be bothered to do it. i cbf...

 

[McLake]

It's really easy to do ...

 

[redruM]

but i wont know that until i make an effort to do it.

 

[mojako]

There's like a 3 day holding period when you transfer before you can transfer it out again. I am not sure about the other end 'cause i've never tried, but it wouldn't be more than 3 days again.

No, the best part is that YOU ARE NOT LOCKED IN like you are in a term deposit.

Is there any transfer fee from in to bank or vice versa?

Reading your post above,
Do we have to transfer ALL of the money we have?

 

[McLake]

Is there any transfer fee from in to bank or vice versa?

Reading your post above,
Do we have to transfer ALL of the money we have?

No fee unless your other bank charges you (which they shouldn't if your a student).

No, you can transfer whatever you want.

 

[theone123]

If yous want high interest, well go for the Online Cash Manager from Citibank, www.citibank.com.au currently it offers 5.4% pa. which is really good, better than ING Direct atm. umm... another great preference would be a HSBC Online Savings Account www.hsbc.com.au which offers a 4.5% pa. interest rate, but the best thing about HSBC acc. is that you's get a 5 free ATM withdrawals to any bank ATM in australia . generous REPS for this post would be greatly appreciated.

 

[Dave85]

i hav a commonwealth bank account that i link to ing direct. comm bank doesnt charge me fees coz im a full time uni student... so i get charged no fees by either ing or CBA. Ing offers good interest and u can easily transfer funds.

 

[mojako]

no banks take $20 fees..
unless u make a lot of withdrawals and transfers.
but, if ur a student many banks offer u free withdrawal fees, and free monthly account service fee.
see post #36 by theone123 too.

 

[Grizzly]

LOL, because of this thread i just transferred ~95% of my balance from ANZ to ING !

No joke
But anyway, i wonder what ING do with all these monies ? Coz they dont have loan facilities do they ? They must invest it, or pass it on the Mortage originaters ? (Rams/Ozzie Home loans ) ??

 

[mojako]

they use it to feed the lions.. jk

 

[mojako]

So what is this ING and how do u get into it

go to post #26 and http://ingdirect.com.au/

btw natstar, I read ur post, #2,
>> But my bank is a building society which means it has really low bank fees. I reccommend joining a building society cuz of the low fees <<
$20 a month for fees isnt low

go to commonwealth, it has ATMs everywhere
and no monthly account service fee & withdrawal fee if ur a student

 

[twisted_sista00]

its illegal by government law for banks to charge you account keeping fees if ur under 18 or a full time student (banks includes building societies and credit unions) so u just need to tell em ur a student and they cant charge u fees. the anz access select account looks like a good one, but id say go with newy permanent if ur from newy cos its cheap as!

 

[Cyph]

its illegal by government law for banks to charge you account keeping fees if ur under 18 or a full time student (banks includes building societies and credit unions) so u just need to tell em ur a student and they cant charge u fees. the anz access select account looks like a good one, but id say go with newy permanent if ur from newy cos its cheap as!

how is it cheap?

I don't get charged any fees from the CBA being a student and they have the largest number of ATM machines around to keep my non-ATM transactions down..

Although, today i went to get some money out 'cause I some a CBA ATM... so I did, then i looked at the receipt and it was from the damn St. George ATM that must have been under the CBA ATM sign, next to the CBA ATM. I'm such a tool!

 

[SipSip]

I'm a commbank customer and I DO NOT get charged ANY fees (I am not sure about non-comm ATMs) UNLESS I go over my transaction limit ...

So sorry, i was suppose to type doesn't...

 

[Grizzly]

So what is this ING and how do u get into it

Easy as - i got a bonus $15 from them for signing up.
Yeah, as said, just head over to their website - fill in online application, with your current bank details, the principal amount you want to deposit with ING, any automatic deposits from towards your ING account, and then mail them a recent bank-statment+signature