Complete Guide to ING International ATM Fees: Withdrawal Fee, Exchange Rates and Rebates

Ready for your next adventure overseas? If you live in Australia, the popular bank ING can help make getting cash abroad easier. One of the main perks of being an ING account holder is that the bank offers rebates for ATM fees, international transactions and no annual fee, although a withdrawal abroad may still have a cost to you. If you are a current ING customer or planning to be one, read on to learn more about how ING cards work overseas.

We'll also introduce you to Wise Travel Card as an alternative, that can help you save on your international travel by offering currency conversions at mid-market rates without any hidden markups.

ING has been in Australia for over 20 years and has a large customer base thanks to attractive no-fee account options and high interest rates on deposits. The bank offers an Orange Everyday bank account which can be used as a primary account for making purchases, paying bills, depositing paychecks and even abroad with a debit card. Let’s look deeper into using the card when travelling.¹

Having a card that works internationally is a big time and stress-saver when travelling. You can make purchases just like a local and not have to worry about exchanging your Australian dollars. The local currency purchase is converted at the bank’s prevailing exchange rate - which may not be the same as the mid-market rate you usually see on Google.

An international debit card can often be a safer way to travel and you can track your transactions and stay on budget through online banking or the app. But when you do need cash - say for a local farmers market, or for leaving tips at a restaurant- the Orange Everyday debit card lets you access global ATMs and will rebate you the usage fee up to 5 times in a month.² ³

ING Cards for Australians

• The Orange Everyday bank account offers a Visa debit card that works when travelling abroad. You can use the card anywhere Visa is accepted worldwide, and what you spend is deducted from your bank account. You can even use it in Australia to shop online from international websites.

• If you don’t want to use a debit card when you travel, ING has the Orange One Low Rate Credit Card as an option. While the credit card comes with low variable rates compared to other cards, it also offers no annual fee and no international fees for eligible account holders.⁴

• The Orange One Rewards Platinum credit card has an annual fee of AUD 149 and has rebates for international transactions and an offer for travel insurance.⁵ Like most other credit cards, there is a charge for cash withdrawals. Check out the section below detailing what to expect for fees.

ING Orange credit and debit cardholders can add their cards to mobile wallets like Google Pay or Apple Pay for easy purchases. Payments can be made abroad and you’re allowed up to AUD 1,000 per transaction.

ING's International ATM Withdrawal Benefit

Unlike other banks, a major perk that ING offers is rebates for international transaction fees. So you won’t be paying an extra fee for using your card abroad - but there is a catch. We’ll get into that under eligibility. To qualify for the benefits of using an ING card abroad, you first have to make sure your account is eligible.

Eligibility

To be eligible for international transactions and ATM fee rebates benefits with ING, your account must meet both of the following requirements:

• You must deposit at least AUD 1,000 into the account each month. The money must come from outside the bank and must be in your name, and

• You must make 5 or more eligible ING card purchases a month. The transactions must be settled and not pending.

The same requirements hold for the Orange One Low Rate credit card. If you have an ING Home Loan, you are automatically eligible for the benefits and don’t need to meet the requirements. Keep in mind the requirements need to be met monthly, so if you miss a month, you can’t take advantage of the benefits and will be charged the ATM and international transaction fees.

ING International ATM Withdrawal Fees

ING offers attractive perks when using your debit or credit card abroad, but it doesn’t necessarily mean the whole transaction has no fees. You can still get hit with fees if you don’t maintain eligibility, go over the limit and by local operators.

ING's Transaction Fee

Let’s first go over making an international purchase with your Orange Everyday bank account or the Orange One credit card. Generally, there is a fee for using your card whether online or in-person abroad:

The 3% fee is charged every time you make an international purchase. However, if you meet the eligibility criteria every month, you’ll be provided unlimited rebates on qualifying international transactions.

While this is a nice perk, you have to keep in mind that your account will be deducted the fee amount before you get reimbursed.

ING's ATM Fee Rebate for ATM Withdrawal Worldwide

ING offers free ATM withdrawals worldwide for the Orange Everyday bank account, but there are some caveats.

• The first important thing to note is that ING charges an ATM withdrawal fee. This fee can be rebated for the first 5 times you withdraw money in a month if you meet the eligibility criteria outlined above.
• Now, this doesn’t only apply to international ATM withdrawals but also when you get cash domestically. So if you use up the five withdrawals before you leave for your trip, you’ll have to pay the ATM withdrawal fee of $5 per transaction.
• If you don’t maintain the $1,000 AUD deposit to your account and 5 eligible card purchases, you’ll have to pay the $5 ATM withdrawal transaction fee every time you make a withdrawal abroad.

The rebates also apply to ING Home Loan customers. There are no fees for ATM withdrawals within Australia.

The other fee to know is the exchange rate fee, which we will cover in the last section.⁶

ING's Cash Advance Fee (when withdrawing using a Credit Card)

Withdrawing cash with a credit card is different than with a regular debit card. Credit cards, like the Orange One Low Rate or Rewards Platinum credit card, offer cash advances when you need hard currency - but it can be expensive.

When you take out a cash advance, ING charges a fee and an interest rate on the specific amount you took out. Here are the current fees and rates:⁷

With a cash advance, you can take out a maximum of $500 AUD. The Orange One Low Rate credit card caps the maximum amount at 10% of your credit limit. You can not get a rebate on the cash advance fee, and you can still get charged a fee by the ATM operator when taking out a cash advance abroad.⁸

Since the fees can add up quickly and there is a separate interest charge, try to avoid cash advance withdrawals unless absolutely necessary. A debit card or a travel card can make cash withdrawals less costly.

ING's Exchange Rate for Currency Conversion

Last but not least, the exchange rate on ATM withdrawals and international purchases can easily make transactions more costly than you think.

ING and Visa set their own exchange rate on all international currency conversions, so that includes any in-store or online purchases and ATM cash withdrawals with your credit or debit card. The rate is generally higher than the mid-market exchange rate that you usually see on Google. This fee may seem small, but it adds up quickly especially when you’re on holiday using your card.

As an alternative, we would like to introduce you to the Wise Travel Card that offers free ATM withdrawals for up to 350 AUD per month in 2 or less withdrawals, and low convenient pricing for withdrawals above. Plus, with Wise you always get the mid-market exchange rate on currency conversion. You can use the Wise Travel Card in 150+ countries and swipe like a local to make purchases at restaurants, stores and local sites.

Note that ATM providers might charge their own additional fee per withdrawal. Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

Meet Wise: Your Smart Travel Money Card

Wise offers a convenient travel card and money transfer services that make managing your finances abroad a breeze. The Wise card lets you spend like a local in over 150+ countries, with

• Excellent exchange rates: Always get the mid-market exchange rate – the same one you usually see on Google – so you get the most out of your money.
• Low, transparent fees: Say goodbye to hidden charges and hefty markups. Wise keeps its fees low and transparent, so you know exactly what you're paying.
• Convenient card and app: Use your Wise card to swipe like a local in supported countries. Manage your money, track spending, and even freeze your card if needed, all through the Wise app .
• Cash withdrawals: Easily withdraw cash from supported ATMs abroad with low, transparent fees. But be mindful that ATM providers may charge their own cash withdrawal fees.
• International transfers: Send money abroad with the same mid-market exchange rates and low fees.

Get your Wise Card 🚀