ING set to become the only Australian bank to offer cash back on utility bill payments for customers
Wednesday 25 August 2021 – ING Australia announces it is updating the benefits on its Orange Everyday account with the introduction of a 1% cashback on eligible* gas, water and electricity bills (up to $100 per year).
Eligible customers** will receive a 1% cash back when they pay their utility bills through an Orange Everyday account by BPay or direct debit.
The utility bill cash back offer comes as new research suggests utility bills have become a source of frustration for Australians with price increases in recent years.
Research commissioned by ING indicates seven in 10 (71%) Aussie households have noticed the costs of water, gas and electricity bills increase in the last three years. Despite this, many don’t have the time to shop around for a better deal, as one in four respondents (23%) admit they have never compared utility bills and one in five (22%) say they have never changed supplier.
George Thompson, Head of Daily Banking at ING, said:
“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.
“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 their utility bills. With the ING utilities cash back offer the average Australian household could save more than $50 a year.
For information about the new utility bill cash back offer visit ING Australia’s website.
Notes to editors
Other changes to the benefits for eligible Orange Everyday customers – changes to ATM rebates
On 1 December 2021 ING will no longer offer unlimited ATM fee rebates for eligible customers. From this date, ATM fee rebates will be limited to the first five fee incurring ATM withdrawal transactions per month. Fees charged for any other transactions on ATMs (eg. balance inquiries) will no longer be rebated.
Research was undertaken by YouGov in July 2021. Total sample size was 1,011. The figures are representative of Australians aged 18 years and older.
**Eligibility criteria to access benefits on Orange Everyday accounts
To be eligible for benefits on an Orange Everyday account in any month, Orange Everyday customers must have done the following in the previous month:
- Deposited at least $1,000 from an external bank account to any personal ING account in their name (excluding Living Super, Personal Loan and Orange One)
- Make five or more eligible card purchases
ING Orange Everyday customers will be notified of the cashback offer by 31 August. The offer will be available from 1 December 2021.
For more information contact Megan Landauro on 0413 317 225 or firstname.lastname@example.org.
ING changed the way Australians bank 21 years ago by launching the country’s first branchless bank. ING now offers Australians award winning home loans, transactional banking, superannuation, credit cards, personal lending, insurance and wholesale banking services.
ING is Australia’s most recommended bank according to RFi XPRT Survey, February 2021 – July 2021 (n = 31,903) when compared to customers of 20 other banks operating in Australia. It is also Australia’s fifth largest main financial institution (MFI) with 6% of market share according to RFi XPRT Survey, February 2021 – July 2021 (n= 31,903). MFI is defined as the bank that the consumer says is their main financial institution.
ING, a business name of ING Bank (Australia) Limited ABN 24 000 893 292 AFSL 229823.