ING Bank Dropping 5 ATM Operator Fee Rebate Benefit from 1/8/23

[bdl]

Looks like further changes may be imminent:

ING Bank Dropping 5 Free Overseas ATM Withdraw Benefit

www.ozbargain.com.au

 

[SYD]

Nothing seen or heard from ING here.

 

[oz_mark]

Maybe the announcement is coming on the 17th. Guess we'll find out one way or the other soon enough.

 

[SYD]

The earliest this could change would be June IMHO. We’re already qualified for the benefit this month doing hoops and jumps in March. Similarly, completing those this month is for the benefit throughout May (which I’ve already done)…

 

[levelnine]

ING have done a fine job of wrecking what was once a brilliant product.

 

[kpc]

I hope not true! I can work with the 5 withdrawals per month...if travelling with +1, it means 10 free withdrawals per month. Recently we travelled to Middle East where cash was needed in lots of places. At one ATM in Petra, the ATM fee was > AUD 6 and the fee was rebated by ING...they must be losing money!

 

[bashworth]

No worries for us.
Since COVID we have found locally, or overseas, between us we don’t need to get Cash more than 3 times a month.
Even the Big Issue sellers accept card payments, although some buskers probably miss out!

 

[SYD]

No worries for us.
Since COVID we have found locally, or overseas, between us we don’t need to get Cash more than 3 times a month.
Even the Big Issue sellers accept card payments, although some buskers probably miss out!

Yes, post Rona more cards are being accepted - even in USA bars but it can be painful. They still print and give you the tip/sign here paper things. Restaurants are generally all tap/enter tip and move on.

Fortunately, I have other cards that don’t charge international ATM withdrawal fees but finding an ATM that doesn’t charge in the US is virtually impossible now…

 

[serfty]

I have been going though the hoops monthly for the last year or so but that was mainly for the saver account interest rate (currently 5%). Before that I would generally do it only in the month before travel.

However, as indicated the need for cash in most of the places I go is getting less and less. Mainly in the USA where those $1 bills are standard tender for hotel/car rental shuttles and airport lounges with staffed bars.

Looking back I have used an ATM overseas with this just the once since June (Malaysia) and twice last January (USA, Thailand).

While annoying, for me it would not that big a loss in reality.

 

[kpc]

The other place Ing Orange is invaluable is Thalland ATMs...always get slugged a large ATM fee which gets rebated by Ing.

 

[Pushka]

The earliest this could change would be June IMHO. We’re already qualified for the benefit this month doing hoops and jumps in March. Similarly, completing those this month is for the benefit throughout May (which I’ve already done)…

Agree. We've just done the same. I'll shred it if they drop it.

Post automatically merged: Apr 16, 2023

No worries for us.
Since COVID we have found locally, or overseas, between us we don’t need to get Cash more than 3 times a month.
Even the Big Issue sellers accept card payments, although some buskers probably miss out!

Not for overseas which is the only time I need it.

Post automatically merged: Apr 16, 2023

I have been going though the hoops monthly for the last year or so but that was mainly for the saver account interest rate (currently 5%). Before that I would generally do it only in the month before travel.

However, as indicated the need for cash in most of the places I go is getting less and less. Mainly in the USA where those $1 bills for the base of standard tender for hotel/car rental shuttles and airport lounges with staffed bars.

Looking back I have used an ATM overseas with this just the once since June (Malaysia) and twice last January (USA, Thailand).

While annoying, for me it would not that big a loss in reality.

Cash is king in the Middle East.

 

[serfty]

Cash is king in the Middle East.

Yes and likely other places I also have no intention of visiting in the foreseeable future.

 

[SYD]

We’re in the US atm and took out cash at the end of March and then again at the start of April. ATM fees are ~$3.50 - so not a deal breaker. UK and Germany last year are generally free. Spain - not. Argentina has been the biggest saver from ING, with $10 ATM fees and $200 max withdrawal limits!

 

[kpc]

Cash is king in the Middle East.

We needed to withdraw cash 7x from ATM last month when in the ME

Argentina has been the biggest saver from ING, with $10 ATM fees and $200 max withdrawal limits!

We took USD cash to exchange when we went to Argentina because of high ATM fees

 

[romney]

We’re in the US atm and took out cash at the end of March and then again at the start of April. ATM fees are ~$3.50 - so not a deal breaker. UK and Germany last year are generally free. Spain - not. Argentina has been the biggest saver from ING, with $10 ATM fees and $200 max withdrawal limits!

As an FYI for others - an alternative in Argentina is to Western Union yourself money. There are offices everywhere, it's pretty much instantaneous (we did it on the app as we were standing in the office), very easy, and you will get the "blue" rate, so around twice as many pesos, doing it this way rather than using an ATM. (information as of Feb 2023 - things are changing quickly in Argentina, so make sure to check the latest info)

 

[Lynda2475]

I only just applied for this card, as a 3rd debit option for travel later this year. If ATM benefit goes away i see no point in jumping through hurdles and keeping it. I already have other accounts that earn same interest requiring a smaller deposit each month; and citibank and Macquarie offer fee free international purchases.

@SYD not sure where you are in US but in NY citibanks atms are plentiful, in addition to multiple branches in Manhattan, the atms in Walgrens and Duane Reade pharmacies where are on every other corner have citibank supplied atms, which mean fee free cash with a citibank card easily. Also citibank in Chicago. West cost oth is more problematic.

 

[SYD]

@SYD not sure where you are in US but in NY citibanks atms are plentiful, in addition to multiple branches in Manhattan, the atms in Walgrens and Duane Reade pharmacies where are on every other corner have citibank supplied atms, which mean fee free cash with a citibank card easily. Also citibank in Chicago. West cost oth is more problematic.

Don’t have a Citi card (not necessary with ING - well for now). Using any ATM fee free is a unique perk of ING. It will be a shame if it’s “enhanced”.

I’d forgotten about Walgreens - they used to work fee free for NAB Gold Banking years ago. I must test that out.

We were in SFO until recently and even the Federal CU ATM in City Hall wanted to charge us. I’d used the same ATM over several years….

 

[Lat34]

As an FYI for others - an alternative in Argentina is to Western Union yourself money. There are offices everywhere, it's pretty much instantaneous (we did it on the app as we were standing in the office), very easy, and you will get the "blue" rate, so around twice as many pesos, doing it this way rather than using an ATM. (information as of Feb 2023 - things are changing quickly in Argentina, so make sure to check the latest info)

Slightly off-topic but relevant to using/ obtaining "blue dollars" / using cash in Argentina... we visited in Mar 2023 and things indeed are changing quickly. We never bothered changing money to local pesos as passing through the USA en route to South America we withdrew several hundred US$20 / US$10 and used this cash to pay for guide/ driver etc tips in several SthAm countries. Otherwise just charged items to 28 degrees card.

BUT, Argentina's central bank in November 2022 launched a preferential exchange rate for foreign tourists (ie using foreign credit card). Payments made by Mastercard (our direct experience) now use the MEP ("electronic payment market") dollar exchange rate (the "blue" rate) BUT (again) the "foreign tourist dollar" only works for purchases, not ATM withdrawals so far.

Mastercard charges the official rate then reimburses the difference when the transaction is offically processed (this is our direct experience and shows on the 28 degree account/ statment) while Visa cards process the initial payment at the MEP dollar rate. Read more here:

'Foreign tourist dollar': everything you need to know about the preferential exchange rate - Buenos Aires Herald

Payments made in Argentina with foreign credit cards are processed at the MEP dollar rate. Here are the details.

buenosairesherald.com

 

[lovestotravel]

Cash ? Spent 9 weeks in Europe, had cash with me before I left, and come home with 75% of it

 

[SYD]

Cash ? Spent 9 weeks in Europe, had cash with me before I left, and come home with 75% of it

That’s been my recent experience in the UK. But Germany was hit and miss.

As above, the US has lurched to tap (finally) and some places are cashless but I’m still going through a bit of cash at the moment but at least I’ve not received a single coin in change!