The ING Direct Orange Everyday VISA Debit card is an accompaniment to ING’s Direct Orange current account.
As well as having VISA Debit card functionality it also has the ability to be used with EFTPOS terminals and ATMs. There is a refund on EFTPOS transactions. The card can also be used in the same way as a credit card would be when paying for goods over the internet, although unlike a credit card the money comes straight from the ING Orange Everyday account.
As ING Direct does not have a branch network, the ATM cards do not have any machines where they can get fee free withdraws, but ING will refund the fees on cash machine withdrawals of $200 or more. This refund policy may change as the account becomes more established.
The account does not have a chequebook, and obviously it is hard to get bank cheques when there is no branch. Bank cheques can be obtained through the ING website for free, although there is a charge for an express service. There is also one of the best internet bank payment facilities which ING hopes will, together with the debit card, replace the need for most cheques.
ING is a Dutch bank that has opened up a number of innovative types of bank account around the world, including in the United States and the United Kingdom. In almost all these cases instead of building up a branch they have tried to bypass branches by offering a phone and bank operated account.
The ING account is not interest bearing, as it aims to be a low fee banking alternative. Although overdrafts are allowed (and they do bear interest) there are strict limits. There is a short interest free overdraft period.
There is a bonus on setting the account up. There are also bonuses for depositing a salary into the bank account for the first time as well as using the debit card for the first time. These bonuses are credited to the account.
There is some limited branch functionality at Australia Post desks. This mainly involve fee free paying in and withdrawing funds. It is not as comprehensive as the Commonwealth Bank’s facilities with Australia Post.
The debit card is backed by VISA. As VISA is the world’s largest debit card this means that it is accepted around the world. There are also sophisticated anti fraud measures, a zero liability guarantee and access to an entertainment benefits programme.
