Conditional savers at ING who fail to meet monthly conditions do not receive bonus interest but despite regulatory advice, the bank does not actively alert customers who might miss out
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One of Australia’s most popular savings account operators, ING, has ignored regulatory advice to tell customers when they are about to lose bonus rates on promotional accounts, leaving savers at risk of missing out.
The practice has helped ING and other banks access customers’ money at little or no cost to finance other parts of their businesses, including profitable mortgage books.
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