ING offers banking customers cashback on utility bill payments
There are changes in the works for ING customers who hold an Orange Everyday transaction account.
Chief among these is a new offer of 1% cashback on household utility payments when customers pay their gas, water or electricity bills through an Orange Everyday bank account via BPay or direct debit. However, this will be capped at $100 per-year.
The offer will kick in from December 1, alongside ING limiting its system of refunding ATM withdrawal fees (around Australia and internationally) to the first five withdrawals in the month.
The criteria to receive these benefits as well as the bonus-interest rate on a linked ING Orange Savings Maximiser account will remain the same. Customers will still be required to deposit at least $1,000 into any personal ING account each month from an external bank account (i.e. a salary), and make five settled card purchases monthly.
Household utility bills rising
The cashback offer comes in response to findings in a report commissioned by ING. According to the July survey of 1,011 people conducted by YouGov, 71% of Australian households noticed an increase in water and energy bills over the last three years (despite electricity prices being tipped to decrease from 2021).
Almost a quarter of survey respondents admitted to never comparing utility bills, and 22% said they had never changed suppliers. Head of daily banking at ING, George Thompson said this was a primary motivator for ING’s new cashback offer.
“It’s clear from the research and from what our customers are telling us that utility bills are a pain point but shopping around for a better deal requires time, something many of us just don’t have,” he said.
“We’ve launched this cashback offer as a way to help our customers effortlessly save on their everyday living costs so they can get on with the things that matter most to them.”
According to the research, Australian households are paying an average of $5,472 a year or $456 a month on utility bills.
ING estimates its utilities cashback offer could save the average household more than $50 a year.
If you’re keen to compare bank accounts as well as utility bills, check out our list of the best bank accounts in 2021 and more options below.
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Mozo experts choice awards won:
- Exceptional Everyday Account - 2024
Orange Everyday
$0.00
Apple Pay, Google Wallet, PayID, PayTo
0% p.a.
The everyday bank account that could pay you for paying bills. Get 1% cashback on eligible utility bills (up to $100), $0 ING international transaction fees, and up to 5 rebated ATM withdrawals a month here or overseas (T&Cs apply) and no monthly fees to pay. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
CompareCompareOrange Everyday
The everyday bank account that could pay you for paying bills. Get 1% cashback on eligible utility bills (up to $100), $0 ING international transaction fees, and up to 5 rebated ATM withdrawals a month here or overseas (T&Cs apply) and no monthly fees to pay. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^
- account fee
- $0.00
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- Apple Pay, Google Wallet, PayID, PayTo
- interest rate
- 0% p.a.
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- What kind of card?
- Visa Debit
- Interest rate
- Balances from $0: 0.00% p.a.
- Fee free transactions
- Access 1% cashback on eligible utility bill payments (up to $100 per financial year), rebates on ATM fees for the first 5 fee incurring withdrawals (domestic). When you deposit at least $1,000 from an external bank account and make at least 5 card purchases using your ING debit card each month.
Read our Mozo Review to learn more about the ING Orange Everyday
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Enjoy 0% foreign currency conversion fees on Visa Debit card purchases. Plus make an eligible purchase using your linked Visa Debit card to earn cashback at participating merchants. $0 monthly account keeping fees & the option to open up to 9 sub-accounts. Suncorp Bank (Norfina Limited ABN 66 010 831 722 AFSL 229882 Australian Credit Licence 229882). The SUNCORP brand and Sun Logo are used by Suncorp Bank (Norfina Limited) under licence and Suncorp Bank is not part of the Suncorp Group.
CompareCompareEveryday Options Account
Enjoy 0% foreign currency conversion fees on Visa Debit card purchases. Plus make an eligible purchase using your linked Visa Debit card to earn cashback at participating merchants. $0 monthly account keeping fees & the option to open up to 9 sub-accounts. Suncorp Bank (Norfina Limited ABN 66 010 831 722 AFSL 229882 Australian Credit Licence 229882). The SUNCORP brand and Sun Logo are used by Suncorp Bank (Norfina Limited) under licence and Suncorp Bank is not part of the Suncorp Group.
- account fee
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- 0.01% p.a.
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Balances from $1: 0.01% p.a.
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Read our Mozo Review to learn more about the Suncorp Everyday Options Account
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Unlimited free internet transactions. Super fast transfers & use Apple Pay, Google Pay and Samsung Pay. No account keeping fees. Access Any Major Bank & MyState Bank ATM Fee-Free.
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Read our Mozo Review to learn more about the MyState Bank Glide Account
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Enjoy $0 monthly account fees and international fees, with no minimum deposit or balance requirements. Buy, hold and spend in 10 currencies (AUD included) and earn 2% cashback for purchases under $100 (T&C’s apply). Mozo's Experts Choice 2024 winner for Exceptional Everyday Account.^
CompareCompareEveryday Global Account
Enjoy $0 monthly account fees and international fees, with no minimum deposit or balance requirements. Buy, hold and spend in 10 currencies (AUD included) and earn 2% cashback for purchases under $100 (T&C’s apply). Mozo's Experts Choice 2024 winner for Exceptional Everyday Account.^
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Read our Mozo Review to learn more about the HSBC Everyday Global Account
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^See information about the Mozo Experts Choice Bank Account Awards
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