ING Bank Dropping 5 Free Overseas ATM Withdraw Benefit from 1/8/23

[SYD]

Have you looked at Wise?

Does Wise rebate ATM fees?

 

[VPS]

Does Wise rebate ATM fees?

No but if you don't need much cash then it's a great product.

 

[SYD]

No but if you don't need much cash then it's a great product.

But that’s the key change. ING will still do the Int tx fee free VISA debit. Same as plenty of others.

But anyone starting out might look at one that doesn’t have the monthly hoops and jumps.

 

[kpc]

Just tested my Citibank Debit card for ATM withdrawal....card not valid! First time I've tried to use card in >3.5 years! Will need to ring I guess...

 

[Pete98765432]

Just tested my Citibank Debit card for ATM withdrawal....card not valid! First time I've tried to use card in >3.5 years! Will need to ring I guess...

The card becomes inactive if not used for a period of time (6 months I think).

 

[RealtimeY]

Some new cards also need to be "activated" with a chip & PIN purchase before you can use them for contactless/ATMs.

 

[kpc]

The card becomes inactive if not used for a period of time (6 months I think).

This....a phone call reactivated my account and card....she said I had to do a transaction today by 2400 to keep it activated, and need at least one transaction every 6 months to keep account and card activated. I managed to withdraw $50 from ATM this evening.

Edit: I have programmed my bank acct to TF $1 every quarter for the next 5 years so I don't have to worry about making a transaction every 6 months...I will only use this card OS to withdraw cash from ATM

 

[Warks]

This....a phone call reactivated my account and card....she said I had to do a transaction today by 2400 to keep it activated, and need at least one transaction every 6 months to keep account and card activated. I managed to withdraw $50 from ATM this evening.

Edit: I have programmed my bank acct to TF $1 every quarter for the next 5 years so I don't have to worry about making a transaction every 6 months...I will only use this card OS to withdraw cash from ATM

I've got money on my card (well I did last year when I last got a statement) but it expired some months ago. I haven't travelled since Covid and I can't log on to do anything. Wondering how to reactivate it or have they taken my money to spend on the office Xmas party?

 

[Cddc]

That’s a shame, we were recently slugged $16au withdrawing euros out of an ATM in Istanbul that was rebated by ING. It must be hitting their bottom line. Shame because they have gutted what was once a great product and I will have to look at alternatives.

 

[Claudia]

I also just opened this ING account specifically for travel to Europe where I could relax knowing that I could withdraw cash from any ATM up to 5 times a month and not get slugged any ATM fees. Too late now to research other cards cos I leave next week and not back until October! Argh! Does anyone know if ING have reciprocal arrangements with any ‘friendly’ overseas bank brand ATM’s that won’t charge the ATM operator fee, or is it going to be a matter of just going to every ATM until I find one that doesn’t charge its own fee for me using it?

 

[robbo135]

It must be hitting their bottom line

Well loads of ING customers simply transfer in $1,000 and then instantly transfer out, they then make 5 tap and go transactions that are minimal in value to meet the requirements. At the same time, they hold minimal savings with ING and hold no other banking products with ING, but are able to get significant ATM rebates from ING. So there would be many customers that are clearly loss making.

 

[I love to travel]

I also just opened this ING account specifically for travel to Europe where I could relax knowing that I could withdraw cash from any ATM up to 5 times a month and not get slugged any ATM fees. Too late now to research other cards cos I leave next week and not back until October! Argh! Does anyone know if ING have reciprocal arrangements with any ‘friendly’ overseas bank brand ATM’s that won’t charge the ATM operator fee, or is it going to be a matter of just going to every ATM until I find one that doesn’t charge its own fee for me using it?

As long as you jump through the hurdles you will be OK until August.

 

[ADFlyMore]

Thanks for the info all. I think I have since read more into it and they are still rebating the international transaction fee. I will have cash but will use the card for larger purchases so not concerned about ATM fees. Will used as a last resort so if I do use it I am not concerned with the fee.

 

[serfty]

use the card for larger purchases so not concerned about ATM fees

Be careful, I have seen reports that, even now, any international use (ATM or not) counts against the five transactions.

Note that I use ING for both 5% interest in the linked saver account and international ATM withdrawals.

 

[bcworld]

Note that I use ING for both 5% interest in the linked saver account

Me too...but from May 1st my AMP Saver will be paying 4.9%...and the upper limit there is 250k instead of 100k.

 

[exceladdict]

Have sent through a complaint indicating I'll likely be closing the card as a result of the change.

 

[Brissy1]

need at least one transaction every 6 months to keep account and card activated

Edit: I have programmed my bank acct to TF $1 every quarter

This previous comment as below...

The card becomes inactive if not used for a period of time (6 months I think).

indicates that the CARD might become inactive. Was Citi clear that an electronic transfer keeps the card as well as the account active?

(To be clear to others, this is not commenting on ing, but Citi debit as an alternative.)

 

[SYD]

Be careful, I have seen reports that, even now, any international use (ATM or not) counts against the five transactions.

Even if the ATM doesn’t charge you, ING charge their own $5 Int ATM withdrawal fee but rebate it. The 5x transaction limit doesn‘t apply to day to day VISA debit purchases.

 

[oz_mark]

Be careful, I have seen reports that, even now, any international use (ATM or not) counts against the five transactions.

Note that I use ING for both 5% interest in the linked saver account and international ATM withdrawals.

The 5 transactions refer to ATM transactions (but that use includes Australian and International ATM usage)

 

[sqrt()]

Suggest everyone moves to the US to open a Schwab checking account which has unlimited ATM rebates (even in the US).