ING pays 50 cents for cash outs

ING Direct’s Orange Everyday account offers fee free everyday banking with bonuses and rebates to encourage savings.

Orange Everyday is an online transaction account, offering electronic payments, transfers between linked accounts and a Visa debit card for ATM and Eftpos transactions.

There is no cheque option or credit card option and there is no interest paid on the account balance. ING will issue cheques on request for $11.

ING will rebate ATM charges for any ATM the customer uses as long as the withdrawal is more than $200. ING will pay customers 50 cents if they make a $200 withdrawal using Eftpos, rather than an ATM.

Overseas purchases and ATM transactions will cost $2.50, which is less than most other banks charge.

Deposits can only be made online and at Australia Post which are subject to daily limits.

The account will probably appeal most to people who have an ING Savings Maximiser account.

Source: Sydney Morning Herald