ING Axes Overseas ATM Fee Rebate - Exposing ING International Transaction Fees
You may have just returned from a fantastic holiday only to be ‘slapped in the face’ when opening your ING card statement. What are all these extra fees?
Or you already know how expensive these sneaky bank fees can be, so you’re doing your research to get ahead of the game.
Either way, we’ll take you by the hand and help you understand ING international transaction fees and what you can do to save your hard-earned cash.
We’ll cover these critical topics to ensure you’re well-prepared for your next holiday or online shopping spree:
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ING International Transaction Fees for Overseas Travel and Online Purchases
| Type of Fee | Amount |
| ING International Transaction Fee | 3% of the transaction value |
| Overseas ATM Withdrawal Fee | $5 |
| *ING offers rebates on International Transaction Fees and some ATM fees. See below for more details. | |
ING Orange Everyday is a great option to bring with you when travelling overseas or making purchases online from within Australia. As you may know, overseas fees can add up quickly and cost you a small fortune.
The great news is that ING offers fantastic rebates and benefits to help you save on these fees.
International Transaction Fees
Whether you’re making purchases using your card overseas on holiday or online, where the payments are processed overseas, you are subject to a fee. The ING international transaction fee is 3% of the transaction amount.
Luckily, as an ING customer, you will have this fee rebated unlimited times, as long as you meet ING’s benefits eligibility criteria. It means huge savings and more to spend on the fun stuff while holidaying.
ING International ATM Fees
You will be charged various fees when withdrawing cash from an overseas ATM. These fees include ING’s overseas ATM withdrawal fees, the ING international transaction fee, and the ATM operator’s fees.
The fees can quickly add up. ING charges $5 per withdrawal plus 3% of the transaction value. Including the costs that the ATM operator may charge you, this can quickly add up to more than $10 per $100 withdrawal. Ouch!
ING has you covered, though. They will usually rebate the 3% overseas fee for an unlimited amount of times, as well as rebate 5 x $5 ING ATM fee for overseas ATMs per month.
Read on to learn how to take advantage of ING’s benefits to save your cash.
ING axe “no international ATM fees”
ING has announced that, as of 20 August 2023, they will be scrapping their popular “no international ATM fees” scheme.
Until then, ING Orange Everyday was an excellent option for travelling overseas when withdrawing your cash. ING was not only offering rebates for their ATM withdrawal fees, they would also rebate the overseas ATM ‘operator’ fee.
ING removing this perk is a massive blow to ING customers who love this benefit, as these fees can add up.
Is it all doom and gloom?
Although we may have lost this major perk for banking with ING, it’s not all bad.
ING is still offering rebates for domestic ATM operator fees and the first 5 ING domestic and international withdrawal fees each month (this does not include the overseas ATM ‘operator’ fee), as long as you meet the eligibility criteria.
How to Qualify for ING’s Benefits to Save Your Hard-earned Cash
ING offers impressive benefits, including rebates on many fees like the ING international transaction fee and some overseas ATM withdrawal fees.
You do need to meet specific criteria to receive these benefits, however. We’ll go through what you need to do to be eligible.
Orange Everyday Benefits will apply for the next month as long as you meet the following criteria during the current month:
- Minimum $1000 deposit from an external source to any personal ING account in your name.
- Make at least five settled card purchases (not in ‘pending status’) using your ING debit or credit card. Orange Everyday customers that hold an ING Home Loan are automatically eligible for benefits and do not need to meet any other criteria.
We recommend you always check with ING for the latest eligibility criteria.
How to Avoid ING’s International Transaction Fees
The most convenient way to avoid ING international transaction fees is to consider the information we’ve reviewed, know when you will be charged, and plan around that.
Ensure you use ING’s benefits program by meeting their monthly eligibility criteria. Utilise the savings where possible, like getting the rebate for the first 5 x ING ATM withdrawal fees per month, and you’ll save a lot of money.
There are also some other ways you can save on overseas transaction fees, and that includes:
Changing your Currency Before Travelling
The simplest way to avoid fees on each transaction is to bring cash. All you have to do is convert your Australian dollars to the foreign currency of the country or countries you plan to travel to.
You can convert your currency online and have it delivered directly to you or collect in-store.
Online money exchangers like S Money are often an easy and cheap way to buy foreign currency. You usually only pay a small fee and the currency exchange rate, no hidden fees!
Travel Cards
There are several cards designed for travel and making online purchases in mind.
They remove the international transaction fee, have low fees, competitive currency conversion rates and offer free ATM withdrawals.
Some great examples are the Wise Travel Card, Revolut and Travelex Money Card.
Remember, you have great options for rebates on ING International transaction fees. Ensure you are meeting the eligibility criteria as an ING customer.
Unfortunately, we’ve lost the rebates for overseas ATM fees, but it’s not all bad, as there are still some savings to be had here. You need to be a little savvy with how you withdraw your cash and limit the amount of withdrawals.
Now, you should be well prepared and equipped for your next holiday or online purchases.
All it takes is a little planning; you could save hundreds of dollars and put it towards your next holiday cocktail.
Safe travels and happy spending!
