Are you sick of being ripped off by the banks? Then read on.
I was a Commonwealth Bank customer for 25 years. I don’t know why I didn’t question what they did for me before, but when I was checking my online savings account one day, I realised it only paid me 0.8% interest. Well below the rate of inflation!
I rang them and asked them what their best offer on interest was. Sadly, even after being a customer for 25 years, their best offer for a savings account was still below the rate of inflation. So my money would still be going backwards.
I did some research, dumped the Commonwealth Bank and switched to ING Direct. Here is what they offer, it’s actually pretty amazing. NOTE: To get these benefits, all you have to do is get your pay put into the account, so that you are depositing at least $1,000 per month into the account. You don’t have to keep the $1,000 in there (ie. you can withdraw it again), you just have to deposit at least that much per month. If you do, you’ll get these benefits:
- 3% interest in the online savings account – that’s pretty much the highest rate going at the moment (12 April 2017)
- No ATM fees whatsoever. You can use any ATM in the country, and ING will reimburse all ATM fees incurred
- No other fees
- $100 bonus! Have you ever heard of a bank giving you $100 just for opening an account?
To open an account, and get the bonus, you need to sign up through this link: https://www.campaigns.ingdirect.com.au/bonus100?code=ESA175.
C’mon Australia, it’s time we got a better deal from our billion dollar profit banks!