What I mean is that when a bank makes a major change to an account's conditions, the obvious thing to do is change the account to a product that is more useful to you. If you use a sensible bank, you can do this. e.g. If you want to change the type of savings account you have with Bendigo Bank, you can. Everything (online login, BSB, account number, balance) remains the same. (The one quirk with them is that a cheque account can't morph into a savings account or v.v.)
Yes, I started an original Maximiser linked to another bank account. ING changed the conditions to mean that I get no bonus interest, making the account useless. Then they started another product that would still give me decent interest, but they don't allow accounts to be changed, because their management and IT are rubbish. (I had dozens of investments, dividends, ATO, etc, all set to use the ING account, so the amount of work to change it was huge. Needless to say, I changed it all to not ING so that they couldn't screw me again in future.) There are supposed to be RBA rules that banks make account changes easy, but ING just ignores them.
