How to close your ING Australia Bank account.

With a plethora of new and innovative banking options now available, sometimes your old bank account might not be the right fit for how you manage and spend your money. If you bank with ING Bank Australia — a subsidiary of Dutch multinational ING Group — and are thinking of closing your account, there are a few hurdles to go through.

This article will guide you through the steps needed to close your ING bank account and introduce you to Wise as a great alternative for many of your banking needs.

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How to close your ING Australia accounts

When it comes to closing your account, ING gives you these easy options:

• Using your ING Banking App
• Through Online banking

Before you close your ING account

There are a few basic preparation steps to go through first.

The first thing you should do is move any remaining money out of your account. If you aren’t sure where to send any remaining money, Wise can help by allowing you to send your AUD directly to a Wise AUD account balance.

The second thing is to ensure that any outstanding fees, mortgages, loans, direct debits or overdrafts are dealt with accordingly. This includes any pending transactions set to clear. Dealing with these prior will ensure the closing of your account will be swift and easy¹.

🚨 It's advisable you download any banking information or statements that you want to keep, before you close the account.

Finally, you need to consider what sort of account you have, as this can affect your specific closure steps. ING Bank Australia has numerous account types for its customer including:

• Savings Maximiser and Savings Accelerator accounts
• Orange everyday and Orange One account
• Joint Accounts

Now let’s move on to the specific steps to close each of these accounts.

How to close an Orange Everyday account with ING Bank?

If you have an ING Orange everyday account, you can close your account by²:

The mobile app:

1. Log in
2. Tap on Account Name
3. Select 'Close this account'

The Online banking portal:

1. Log in
2. Select “manage accounts”
3. Choose “close account”

If for any reason you have lost access to either of these options, you can call a Customer Care Specialist on 133464 if you are calling from within Australia. If you are overseas, you can call +61 2 9028 4077 (call costs apply).

How to close a Savings Maximiser or Accelerator account with ING Bank?

If you have opted in for a savings Maximiser or Accelerator account to be linked with your Orange everyday account, you must withdraw or send the remaining funds to another bank account before you close your Orange everyday account.

If you do not do this, then a freeze will be put on the account. If you are linked to an external bank account, you may also incur transfer fees on any transfers before closing ³.

If you have not linked your savings Maximiser or Accelerator account to another ING account, you can close this account by following the steps above for the mobile app and online banking portal or by calling ING Bank.

How to close a joint account with ING Bank?

To close a joint account, authorised closure actions for the account depend on if on inception, all or any of the joint account owners were nominated to give instructions to ING. In the case that any of the joint owners were authorised, ING can close your account upon instruction from either one of you. If all joint account owners are required, this means that all account owners are required to inform ING of the decision to close the account⁴.

This can be done any time by calling ING or visiting a branch.

How to close your Orange One credit card account?

If you have an Orange One (OO) account, you can close your ING credit card account via the mobile banking app or the online banking portal. However, a few extra steps are required to close this account and can be seen below⁵.

The mobile app

1. Log in
2. Flick to your OO account
3. Select OO menu
4. Select ‘Close Account’
5. Follow the prompts

Online Banking portal:

1. Log in via ING website
2. Go to 'Manage accounts'
3. Select 'Close accounts'
4. Select Orange One from the drop down Menu
5. Follow the prompts.

Can I do this online or from overseas?

In most cases you should be able to close your account online. However, if you have lost access to your ING mobile banking app or cannot log into the ING internet banking portal, you will need to contact ING directly.

What happens to ING Bank inactive or dormant accounts?

If you have not used your account for a while, ING might move your account from an active to dormant status. Different account types have varying time frames for inactivity, which range from 6 months for Orange everyday accounts to 24 months for savings Maximiser and Accelerator accounts.

In this instance, ING will put a block on the account from being able to make any further transactions. If you want to reinstate the account, you will need to contact a Customer Care Specialist ⁶.

What else do I need to know?

There are a few other things to consider that could affect you after an account closure has been authorised.

Direct debits/government charges

You could be liable for transactions made before or after your account has been closed. This could be associated with government charges or existing direct debits¹.

In the event you have set up and have active direct debit payment associated with your ING Visa card and bank account, you must inform the institution or merchant of your account closure⁷.

Unused and cancelled cards

It is recommended that you destroy any associated debit or credit cards upon confirmation of account closure or if ING requests otherwise⁹.

You can find out more by contacting ING Bank here.

There are several ways to contact ING Bank Australia domestically or from abroad. For general enquiries you can⁸:

• Call 133464 from within Australia (Available 24 hours/7 days) or +61 2 9028 4077 from overseas (call costs apply)
• Send a message through the ING app or Online banking portals
• Visit the ING Lounge at 60 Margaret Street, Sydney NSW 2000

Are there any costs to close an account with ING Bank?

ING Bank does not disclose any account closure costs and there does not appear to be any. Keep in mind though that you may pay fees for any bank transfers you make to withdraw your money.

Alternative banks and financial services

As mentioned, before you can attempt to close your ING bank account, you must withdraw or send any remaining money to another bank.

Of course, you can open an account with another Australian financial institution such as NAB, CommBank, Westpac or ANZ — or you can give Wise a go.

Try Wise

Wise offers international payment services as well as a smart and flexible Multi-Currency account. If you’re looking for an alternative to traditional banks, which also cuts the costs of sending money overseas, Wise is for you.

Your multi-currency account can hold 40+ currencies, receive fee free payments using your very own AUD account details, send money to 150+ countries, always using the mid-market rate — with a low and transparent fee.

You can also get a debit card to spend with at home and avoid foreign transaction fees while abroad.

Register your Wise account in minutes

If you’re looking to move your balance from your ING account abroad, you can use our pricing calculator to have an idea of how much you get to save with Wise. 

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Sources:

1. ING T&C’s - Closing your account, p38
2. ING FAQ’s – How to close your account
3. ING T&C’s – SM external transfer fees, p41
4. ING T&C’s– Joint Account, p50
5. ING FAQ’s – How to close OO account
6. ING FAQ’s – Dormant Accounts
7. ING T&C’s – Direct Debits, p28
8. ING T&C’s - Visa credit card, p9
9. ING – Contact us

Sources checked on: 11 January 2022