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Coronavirus FAQs

Coronavirus Update

We're here to help our customers who may be impacted by COVID-19.

Request or Extend financial support
General enquiries

FAQs

Documents and forms

Here to support you through Covid-19

COVID-19 continues to have a wide reaching impact on individuals and communities in Australia and beyond. We want to assure you that we're here to provide support and flexible options to meet your individual circumstances.

Below are some frequently asked questions and answers on how we may be able to support you.

Should your question not be answered below, please call our Australia-based customer care specialists on 133 464 - 24 hours, 7 days a week.

Most importantly, stay safe. While money's important, your health and wellbeing are your greatest assets. Please take care of one another and yourself during these extraordinary times.

The ING Team



General Enquiries

FAQs

Q. How is ING supporting me during this time?

A. We acknowledge the uncertainty facing many of our customers at this time and have implemented a range of support measures for those experiencing financial difficulty as a result of COVID-19. For support options available to you, please see below information for the relevant product.

Q. Are you experiencing financial difficulties?

A. We know many of our customers are experiencing unexpected financial difficulties as a result of COVID-19. If you're struggling to make repayments on an ING loan (Home Loan or Personal Loan) or credit card, we may be able to help you. To understand options available to you, please see below information for the relevant product.

Q. Will you be available to help during the lockdown?

A. Yes, we as a bank are part of the essential service providers. As always you are able to manage your products using our online banking, phone banking and mobile app.

Q. Need to manage your money?

A. Being a digital bank, there's no change in how you manage and access your money or accounts. Simply login online at ing.com.au or use the ING mobile app as usual.


FAQs - Virgin Australia/Tigerair

Q. I purchased a trip with my ING card with Virgin Australia/Tigerair, what do I do?

A. If your travel plans have been disrupted, it’s worth checking in with the airline whether you have options to move your travel dates to a time that works for you or to request travel credit.

If alternative travel dates or travel credit don’t work for you and you need us to look in to whether you can get your money returned, drop us a My Message through the ING App, online banking or call us on 133 464 so we can look into this. A team member can also start the Visa transaction dispute process for you.

To help speed things up with our investigation:

1. Make sure you’ve got your booking confirmation handy (that includes the amount you paid, your reference number and your travel dates).
2. Collate and save any messages Virgin or Tigerair send to you about your trip being cancelled, or if you were offered different travel dates or credit

Just so you know, it can take up to 30 days for Visa to investigate these issues. We’ll be in touch as soon as we hear back from them. If you want, you can also fill out this Visa Credit / Debit Card disputed transaction form and send it to us at card.investigations@ing.com.au

Bank & Save

Bank & Save

FAQs

Q. I need to provide Centrelink with proof of my bank account, how can I get this?

A. You can access statements online or via the mobile app for the following products:

Savings Maximiser

Savings Accelerator

Orange Everyday

Orange Everyday Youth

Home Loans

Personal Loans and

Credit Cards

Business Optimiser, Business Term Deposit & Personal Term Deposit statements are only available by calling our Contact Centre and requesting a reprint of the last issued or an interim which can be produced up until the day prior to your request.

Q. How do I cancel a Direct Debit?

A. You can cancel a direct debit by calling the Contact Centre.
We also recommend contacting the merchant to make sure it's cancelled from their end to avoid any fees under the agreement you have with them.

Q. What are the Pay Anyone limits?

A. The Pay Anyone daily limit refers to the maximum amount you can transfer via a Pay Anyone.
The standard limit is $5,000. If you require a higher limit or need a one-off transfer of a larger amount (up to $20,000), you can do this via online banking, the mobile app or please call us on 133 464. Please note we can only organise higher limits on Orange Everyday accounts. If you'd prefer a lower limit, you can also move it down.

You can change your daily limit by following the steps below:

To change your Pay Anyone daily limit through online banking:

Log into Online Banking

Choose 'Manage Accounts' and then 'Account limits'

Select the account you wish to change the limit on from the drop down menu

Select the new Pay Anyone limit

Hit Continue

Confirm correct amount and Submit

To change your Pay Anyone daily limit on the mobile app:

Log into the app

Select the account you wish to change the limit on and click the arrow drop down next to the account name

Select 'Change account limit' and follow through the steps

Q. Can I get my money back for travel that I've had to cancel?

A. The first steps would be to refer to the terms and conditions of your purchase and contact the merchant directly to discuss refunds due to cancellations or change of plans due to COVID-19.

If you used your ING card to pay for your travel and the payment is in dispute, ING can assist. ING will require evidence that you have attempted to resolve the dispute with the merchant prior to contacting us, and that it has been unsuccessful.

Q. Are my savings safe?

A. Yes, ING is regulated by the Australian Prudential Regulation Authority (APRA) and is in a strong position to assist customers through these uncertain times. In the same way as other Australian banks, combined deposits with ING of up to $250,000 per account holder are protected by the Australian Government under the Financial Claims Scheme. For more information visit APRA's website at http://apra.gov.au

Q. Will I still get Free ATMs and ING International transaction fees rebated?

A. To receive rebates under our Global ATM Rebate Offer and International Transaction Fee Rebate Offer on your Orange Everyday Account, you will still need to meet our standard eligibility criteria.

The Global ATM Rebate Offer and the ING International Transaction Fee Rebate Offer will apply for the next calendar month when you perform the following during the current calendar month:

deposit at least $1,000 from an external bank account to any personal ING account in your name (excluding Living Super and Orange One), and

also make at least 5 card purchases that are settled (and not at a 'pending status') using your ING debit or credit card (excluding ATM withdrawals, balance enquiries, cash advances and EFTPOS cash out only transactions).

Please see http://www.areionline.com/everyday-banking.html for full information about the Orange Everyday rebate offers.

Q. I’ve lost my job and need to access my money now, can I close my Term Deposit early (For Business Term Deposits & Personal Term Deposits)?

A. To support our customers who have suffered a loss of income or employment due to COVID-19, you can contact us to request access to funds in your Term Deposit account. Please contact us on 133 464 - 24 hours, 7 days a week.





Home Loans

ING Home Loans

FAQs

FAQs - Financial Support

Q. I'm experiencing financial difficulty with my ING Home Loan, what can I do?

A. Before applying for financial support and depending on which type of loan you currently hold, there are a few options which may be available to you, like:

You may be able to access money in your Orange Everyday offset account.

You may be able to access money available to you in redraw on your home loan.

You can reduce your repayments to the minimum fortnightly or monthly repayment amount.

You may be able to switch to a Fixed Rate Loan to give you certainty over your repayment amount.

If you'd like to discuss your options we’re here to support you and our Lending Specialists are available to chat on 133 464 available 8am - 8pm, 7 days a week.

Alternatively, you can message us via logging into online banking or the ING app.

We understand that the last six months have been something none of us expected, so if the above options don’t suit your needs we may have some other options.

In order to assess what other options may be available we’re going to need a little more information from you, so we’ll need you to complete our online Financial Support form.

You can apply for financial support at www.financialsupport.ing.com.au. Once we've received your application we will review your situation and complete a credit assessment before calling to discuss the options that may best suit your needs.

It should take approximately 15mins to complete. Please note, we will need details of your income, expenses, assets and liabilities along with those of your joint account holders, so please have them handy before starting the form.

Q. What is a payment pause?

A. A payment pause means you will not be required to make any repayments during the payment pause period, however interest and fees will continue to accrue on your loan. This means at the end of the payment pause period, your loan balance will be higher, and your minimum repayments will increase so that your loan can still be paid within your loan term. If you have funds available in redraw, we will hold an amount equal to your total minimum repayments from the date we activate or extend the payment pause to the end of the requested period and you cannot access these “held” funds until after the payment pause period.

For variable home loans, if you feel you may need some or all of the funds in your redraw during your payment pause period you may want to withdraw funds before making a payment pause request. You can withdraw funds from your redraw using the ING app or internet banking.

For fixed rate home loans, as per usual, any redraw balance or advanced funds cannot be accessed during the payment pause period or at any time during the fixed rate period. Redrawing additional payments or advanced funds are not features of our fixed rate home loans. Please note, that break costs may be payable if at any time before the fixed term expires, you pay out your home loan or you make additional payments of $10,000 or more in an anniversary year.

If this is an option you'd like to explore, visit www.financialsupport.ing.com.au to complete this form, and after completing a credit assessment our team will be in touch to discuss the options available to you.

It should take approximately 15 mins to complete. Please note, we will need details of your income, expenses, assets and liabilities along with those of your joint account holders, so please have them handy before starting the form.

Q. What is a repayment reduction?

A. If this is an option you are considering, it means you are paying less than your minimum repayment; your loan will operate as normal with access to any redraw you may have available, subject to the terms and conditions of your loan (not available to Fixed Rate Loans) interest and fees will continue to accrue on your loan.
At the end of the payment reduction period your loan balance will be higher, and your minimum repayments will increase so that your loan can still be paid within your loan term.

If this is an option you'd like to explore, visit www.financialsupport.ing.com.au to complete this form, and after completing a credit assessment our team will be in touch to discuss the options available to you.

It should take approximately 15 mins to complete. Please note, we will need details of your income, expenses, assets and liabilities along with those of your joint account holders, so please have them handy before starting the form.

Q. If I apply for Financial Support when will my repayments stop?

If you are seeking support for an ING home loan, and make repayments on that loan by direct debit, we will suspend your direct debit payments from the time your financial support request is lodged, until we are able to get in touch with you to discuss.

If you are charged direct debit fees or late payment fees during this time we will refund you these fees. These fees will be refunded within 2 weeks of the fees being deducted from your account.

Please note, ING requires 5 business days' notice to cancel or amend your direct debit, so if your direct debit is due in the 5 business days please call us instead of completing the online form.

Q. My payment is due today/tomorrow, can I still apply for financial support?

A. If your repayment is due soon then please call us on 133 464 to discuss options instead of completing the online form, we require 5 business days’ notice to cancel or amend your direct debit.

Q. I have a joint loan; can I still apply for financial support if only one of us is experiencing financial difficulty?

A. Yes, if you have a joint loan and one of you is experiencing financial difficulty as a result of the COVID-19 virus you can apply for financial support at www.financialsupport.ing.com.au. When you complete the online form it will ask for your details, along with those of the Joint Account holder.

If you are applying for support on a Joint account please complete details for second applicant where applicable. If you do not have the information available please leave fields blank, but understand that we may request this information at a later date.

If you are giving any information about another person please tell them that you have provided their details to ING. For joint account holders, ING assumes that all financial support request are made jointly, and that all account holders are aware of the request being made.

Q. If I request financial support will my loan term be extended?

A. Each financial support application will be assessed on an individual basis, and depending on the outcome of the credit assessment you may or may not be offered a loan term extension.

However, if you do not require financial support and would like to discuss the possibility of extending your loan term in general, please call one of our Lending Specialists on 133 464 available 8am – 8pm, 7 days a week. Alternatively, you can message us via logging into online banking or the ING app.

Q. If I request financial support will I be charged fees?

A. There is no fee charged for requesting financial support. Fees associated with your ING Home Loan will be charged as usual in accordance with the terms and conditions of your loan. If you are charged Direct Debit fees or Late Payment Fees during the time you’ve requested financial support, once it is processed we will refund you these fees. These fees will be refunded within 2 weeks of the fees being deducted from your account.

Q. If I request financial support, what happens if interest rates change?

A. For Variable Rate Home Loans - during this period your interest rate may change.
For Fixed Rate Home Loans – your interest rate is fixed for the fixed interest rate period.

Q. If I request financial support, will this impact my future lending with ING?

A. We may take this into consideration if you choose to take up further lending with ING in the future.

Q. After I've requested financial support, will I still receive letters & calls etc. about my home loan?

A. You will continue to receive letters and communications about your ING accounts as per normal.
If you are on a payment pause; as your payments will stop for a period you will not receive any communications about missed repayments while you are on the payment pause.
If you are on a repayment reduction arrangement; we will only communicate with you about missed payments.

We will be in contact towards the end of your payment pause or reduced repayment period.

Q. If I have requested financial support, can I make additional repayments?

A.

For variable home loans, you can make additional payments. However, if you are on a payment pause you may not be able to access some or all of these funds from your redraw during the payment pause period, please consider this before making any additional payments into your loan at this time.

For fixed rate home loans, you can make additional payments up to $10,000 in an anniversary year. Break costs may be payable if at any time before the fixed term expires, you pay out your home loan or you make additional payments of $10,000 or more in an anniversary year. As per usual, any redraw balance or advanced funds cannot be accessed during the payment pause period or at any time during the fixed rate period. Redrawing additional payments or advanced funds are not features of our fixed rate home loans.

Q. If I request financial support, will it affect my credit rating?

A. No, as long as you call us before you miss a payment. The financial support options are designed to help our customers through the uncertainty brought about by COVID-19 and will not impact your credit record. So if you are concerned that you may miss a payment due to COVID-19, please speak to us to initiate support early.

Missed payments before requesting financial support are reported to the Credit Bureau as usual and may impact your credit record.

If you miss a payment between the time you request financial support and when your request is actioned we will not report this to the Credit Bureau.


Accessing my money and making changes to my home loan

Q. Can someone else request assistance on my behalf?

A. If you're not comfortable speaking to us about this, we can speak to your financial counsellor or authorised representative instead. You'll need to complete the Appointment of Representative form. This gives us their contact details and your authority that they can speak with us on your behalf.
You can find the relevant form to be completed by logging into Online Banking and:
1) Selecting 'My profile'
2) Selecting 'Forms'

Q. If I request financial support, can I make a product switch request or loan variation during the period?

A. No, once your financial support arrangement is in place we will not consider any requests for changes or variations to your loan.
Once we reach the end of the financial support phase with you, normal processes will resume.

Q. Can I cancel my financial support request and revert to repaying my loan as normal?

A. Yes. Please call one of our Lending Specialists on 133 464 available 8am – 8pm, 7 days a week, as soon as possible and we can help out.


FAQs - Financial Support - Arrangement Ending and Extensions

Q. If I request financial support, will you communicate with me when it’s coming to an end?

A. The details of your arrangement will be outlined in the confirmation letter we send to you. We will then be in contact with you approximately 14 days prior to your arrangement end date with next steps and options available to you.

Q. What are my options when my request for financial support ends?

A. We will be in contact with you approximately 14 days prior to your arrangement end date to discuss options available to you. If you still require financial support we will work with you to find an option that suits your situation. Visit www.financialsupport.ing.com.au and fill out our financial support form. After completing a credit assessment our team will be in touch to discuss the options available to you.

It should take approximately 15 mins to complete. Please note, we will need details of your income, expenses, assets and liabilities along with those of your joint account holders, so please have them handy before starting the form.

If you no longer require financial support;
- Your repayments will resume as outlined in your confirmation letter. We will communicate with you prior to your expiry date, please follow the prompts provided.
If you do nothing, your financial support arrangement will expire and repayments will resume as outlined in your confirmation letter.

Did you know you can also manage other options yourself, these include;
Via online banking
- reducing your repayment to the minimum amount;
- accessing funds from your offset account;
- accessing your redraw (where available).
Via our Contact Centre
- apply to switch to a Fixed Rate Loan to give you certainty over your repayment amount;
- accessing redraw for repayments.



Personal Loans

ING Personal Loans

FAQs

FAQs - Financial Support

Q. I'm experiencing financial difficulty with my ING Personal Loan, what can I do? What options do I have?

A. We’re here to support you and our Lending Specialists are available to chat on 133 464 available 8am - 8pm, 7 days a week to discuss your options.

Alternatively, you can message us via logging into online banking or the ING app.

If you need financial support, fill out this form at www.financialsupport.ing.com.au . Once we’ve received your application we will review your situation and complete a credit assessment before calling to discuss the options that may best suit your needs.

It should take approximately 15 mins to complete. Please note, we will need details of your income, expenses, assets and liabilities along with those of your joint account holders, so please have them handy before starting the form.

Q. What is a payment pause?

A. A payment pause means you will not be required to make any repayments during the payment pause period, however interest and fees will continue to accrue on your loan. This means at the end of the payment pause period, your loan balance will be higher, and your minimum repayments will increase so that your loan can still be paid within your loan term.

Q. What is a reduction to below my minimum repayment?

A. This is where your repayments are reduced to below the current minimum.

During the below minimum repayment term, your loan will operate as normal and won’t go into arrears as long as the reduced repayments are made on time in line with the arrangement. Interest and fees will continue to accrue on your loan.

At the end of the below minimum repayment period, your loan balance will be higher, and your minimum repayments will increase so that your loan can still be paid within your loan term.

If this is an option you’d like to explore, visit www.financialsupport.ing.com.au to complete this form and after completing a credit assessment our team will be in touch to discuss the options available to you.

It should take approximately 15 mins to complete. Please note, we will need details of your income, expenses, assets and liabilities along with those of your joint account holders, so please have them handy before starting the form.

Q. Can I request further financial support, if I’ve already had a payment pause or another arrangement?

A. Yes, you can. We'll work with you to go through your options for further financial support – just fill in this form at www.financialsupport.ing.com.au Once we’ve received your application we will review your situation and complete a credit assessment before calling to discuss the options that may best suit your needs.

It should take approximately 15 mins to complete. Please note, we will need details of your income, expenses, assets and liabilities along with those of your joint account holders, so please have them handy before starting the form.

Q. How can I avoid late fees?

A. As long as you repay the minimum repayment amount shown on your loan offer by the due date you can avoid late payment fees. If you have a payment pause, you don’t need to make any payments for that period and late fees won’t be payable during the period. If you have reduced your repayments below the minimum, as long as you pay the reduced amounts by the due dates under the arrangement, you won’t be charged any late fees.

Q. Can someone else request assistance on my behalf?

A. If you're not comfortable speaking to us about this, we can speak to your financial counsellor or authorised representative instead. You'll need to complete the Appointment of Representative form. This gives us their contact details and your authority that they can speak with us on your behalf.
You can find the relevant form to be completed by logging into Online Banking and:
Selecting 'My profile'
Selecting 'Forms'

Q. If I request financial support, will this impact my future lending with ING?

A. We may take this into consideration if you choose to take up further lending with ING in the future.

Q. If I request financial support on my ING Personal Loan; will it affect my credit rating?

A. No, as long as you request financial support before you miss a payment. Our financial support arrangements are designed to help our customers through the uncertainty brought about by COVID-19 and will maintain your credit record. So if you are concerned that you may miss a payment due to COVID-19, please request financial support early.

Payments that are missed before requesting financial support are reported to the Credit Bureau as usual, and may impact your credit rating.

If you miss a payment between the time you request financial support and when your request is actioned we will not report this to the Credit Bureau.

For repayment reduction arrangements; if you miss any of the reduced repayments this may impact your credit rating.

To find out about other repayment options that may be available to you, visit http://www.areionline.com/help-and-support/tips-hints-guides/financial-hardship.html.

To request financial support, or further financial support if you have an existing arrangement please go to www.financialsupport.ing.com.au . Once we’ve received your application we will review your situation and complete a credit assessment before calling to discuss the options that may best suit your needs.

It should take approximately 15 mins to complete. Please note, we will need details of your income, expenses, assets and liabilities along with those of your joint account holders, so please have them handy before starting the form.


FAQs - Financial Support - Arrangement Ending and Extensions

Q. If I request financial support, will you communicate with me when it’s coming to an end?

A. The details of your arrangement will be outlined in the confirmation letter we send to you. We will then be in contact with you approximately 14 days prior to your initial arrangement end date with next steps and options available to you.

Q. What are my options when my request for financial support ends?

A. We will be in contact with you approximately 14 days prior to your arrangement end date to discuss options available to you.

If you still require financial support;
We will work with you to find an option that suits your situation. Visit www.financialsupport.ing.com.au and fill out this financial support form. Once we’ve received your application we will review your situation and complete a credit assessment before calling to discuss the options that may best suit your needs.

It should take approximately 15 mins to complete. Please note, we will need details of your income, expenses, assets and liabilities along with those of your joint account holders, so please have them handy before starting the form.

If you no longer require financial support:
- Your repayments will resume as outlined in your confirmation letter. We will communicate with you prior to your expiry date, please follow the prompts provided.
If you do nothing, your financial support arrangement will expire and repayments will resume as outlined in your confirmation letter.



Credit Cards

Credit Cards

FAQs

FAQs - Financial Support

Q. I'm experiencing financial difficulty with my credit card, what can I do?

A. We’re here to support you and our Lending Specialists are available to chat on 133 464 available 8am - 8pm, 7 days a week to discuss your options.

Alternatively, you can message us via logging into online banking or the ING app.

If you need financial support, fill out this form at www.financialsupport.ing.com.au. Once we’ve received your application we will review your situation and complete a credit assessment before calling to discuss the options that may best suit your needs.

It should take approximately 15 mins to complete. Please note, we will need details of your income, expenses, assets and liabilities along with those of your joint account holders, so please have them handy before starting the form.

Q. How does a payment pause work?

A. During a payment pause, credit card repayments are not required. Interest and fees will continue to accrue to your balance, and at the end of the payment pause period your total balance will be higher than it was before the payment pause. This balance is then converted to an instalment plan, and you will then pay that off at the instalment plan variable rate of 9.99% p.a. in accordance with the terms agreed. It is important to note that during the payment pause and instalment plan periods all credit cards linked to the Orange One account will be inactive.

Once the balance has been paid in full or you have paid your instalment plan on time for 6 months , you will need to contact us to request reactivation of your card. This request will be subject to a new assessment and may result in a reduction to the credit limit on your card.

Q. How can I reduce my repayments to the minimum amount payable?

A. The primary card holder can adjust your minimum amount payable via online banking:
1. Log into online banking
2. Click "Accounts"
3. Select the Orange One account
4. Select "More account information" under the card name and balance
5. Click "Edit" next to the Autopay option.
You are able to change your autopay selection up until midnight the business day prior of the "payment due date".

Q. How can I avoid late fees?

A. As long as you repay the minimum amount payable on your statement you can avoid late payment fees. To discuss your situation please call one of our Lending Specialists on 133 464 available 8am – 8pm, 7 days a week.
You will not be charged late payment fees during a payment pause.

Q. Can I make a payment into my Orange One during payment pause?

A.You can make payments into your Orange One credit card during the payment pause period – should you wish to or be able to. This will reduce the overall balance that is converted to an instalment plan at the end of the payment pause period.

Q. What happens to my credit card after I pay off my payment pause instalment plan?

A. Once the balance has been paid in full you will need to contact us to request reactivation of your card. This request will be subject to a new credit assessment and may result in a reduction to the credit limit on your card.
You can do request reactivation by speaking with of our Lending Specialists on 133 464 available 8am – 8pm, 7 days a week to discuss your situation.

Q. Can I reduce my credit card limit?

A. Yes, If you want to reduce your credit limit for your Orange One account, login to ing.com.au and go to Manage cards > Decrease credit card limit and follow the prompts to decrease the limit. You can decrease your Orange One credit limit at any time, however:

? It cannot be reduced below the outstanding balance

? It cannot be reduced below the minimum credit limit available for the product

Q. If I request financial support, will this impact my future lending with ING?

A. We may take this into consideration if you choose to take up further lending with ING in the future.

Q. If I request financial support, will it affect my credit rating?

A. No, as long as you call us before you miss a payment. Payment pause is designed to help our customers through the uncertainty brought about by COVID-19 and will maintain your credit record. So if you are concerned that you may miss a payment due to COVID-19, please speak to us to request financial support early.
Payments that are missed before requesting financial support are reported to the Credit Bureau as usual, and may impact your credit record.

Q. Can someone else request assistance on my behalf?

A. If you're not comfortable speaking to us about this, we can speak to your financial counsellor or authorised representative instead. You'll need to complete the Appointment of Representative form. This gives us their contact details and your authority that they can speak with us on your behalf.

You can find the relevant form to be completed by logging into Online Banking and:
? Selecting 'My profile'
? Selecting 'Forms'


FAQs - Financial Support - Arrangement Ending and Extensions

Q. If I request financial support, will you communicate with me when it’s coming to an end?

A. The details of your arrangement will be outlined in the confirmation letter we send to you. We will then be in contact with you approximately 14 days prior to your initial arrangement end date with next steps and options available to you.

Q.What are my options when my request for financial support ends?

A. We will be in contact with you approximately 14 days prior to your arrangement end date to discuss options available to you.

If you still require financial support;
We will work with you to find an option that suits your situation. Visit www.financialsupport.ing.com.au and fill out this financial support form. Once we’ve received your application we will review your situation and complete a credit assessment before calling to discuss the options that may best suit your needs.

It should take approximately 15 mins to complete. Please note, we will need details of your income, expenses, assets and liabilities along with those of your joint account holders, so please have them handy before starting the form.

If you no longer require financial support:
- Let your instalment plan commence as outlined in your confirmation letter. We will communicate with you prior to your expiry date.
If you do nothing, your instalment plan will commence as outlined in your confirmation letter.

Insurance

Insurance

FAQs

FAQs - All Insurance Products

Q. What should I do if I can't pay my insurance premiums during the COVID-19 pandemic?

A. If you are having difficulty paying your insurance premiums, please call the team on 1800 456 406 (Mon-Fri 8am-6pm (AEST) or Sat 8am-5pm (AEST) to discuss your circumstances and what options may be available.

It is important that you contact us as soon as possible because when you miss a payment, this could result in your policy being cancelled and/or a claim being declined/not paid.

FAQs - Travel Insurance

Q. If I have ING Travel Insurance, is my trip covered?

A. It will depend on when you purchased your ING Travel Insurance, what type of cover you obtained and under what circumstances you need to make a claim. There are five different types of cover – Last Minute, Essential, Comprehensive, Domestic and Annual Multi-Trip. Please note, customers who purchased their ING Travel Insurance policy on or after 31 January 2020 for international trips or on or after 13 March 2020 for domestic trips, will not be covered for any claims related to the Coronavirus/COVID-19 pandemic.

There are two Product Disclosure Statements and the one applicable to you is determined by the date you purchased the policy:

  1. 1. If you purchased ING Travel insurance before 13th March 2020 - please refer to this Product Disclosure Statement (http://www.areionline.com/pdf/PDSA-Travel%20Insurance.pdf)
  2. 2. If you purchased ING Travel insurance on or after 13 March 2020 please refer to this Product Disclosure Statement (https://ing.disconline.com.au/branding/resources/EXIG/legal/travel/PDSA-AGA.pdf).

Q. Can I change the date of my travel insurance cover if my trip is postponed?

A. Yes, you can postpone your ING Travel Insurance* trip departure date for up to 12 months from the date of purchase.

*Excluding Annual Multi-Trip policies.

Q. What do I do if I have not yet departed on my trip?

A. You should contact your travel agent, tour operator or travel provider, to discuss if there are any impacts to your current travel arrangements and what the options are for altering your trip (if required). Some travel providers may allow penalty-free options for amendment and cancellation of existing arrangements, so please contact them first for further details.

If you purchased your ING Travel Insurance policy before 30 January 2020 for travel departing on or after 19 March 2020, and your pre-booked travel arrangements have been cancelled, delayed or rescheduled as a result of the Coronavirus, you may be covered for cancellation or rescheduling of your trip.

Before making any changes to your current travel arrangements, you should refer to your PDS for the applicable terms, conditions, limits and exclusions of cover; and contact ING Travel Insurance Claims team on 1800 456 406.

Q. Can I get a refund on my travel insurance cover if my trip is postponed?

A. If you purchased the ING Travel Insurance policy and are still within the 14-day cooling-off period, you will be entitled to a full refund so long as you haven't yet departed or made a claim.

If you purchased the ING Travel Insurance policy and the cooling-off period has expired, please contact us to discuss your options. Alternatively, you can postpone your ING Travel Insurance trip departure date up to 12 months from the date of purchase^. Please call ING Travel Insurance team at least 48 hours prior to your original departure date on 1800 456 406.

^ Excludes Annual Multi-Trip policies.

Q. If I’m quarantined, will my policy cover my loss of income?

A. Section I - Loss of Income provides cover for loss of income if you are unable to work due to an injury which you suffered whilst overseas. It doesn’t cover claims arising from an inability to work as a result of an illness or potential illness, such as the current Coronavirus pandemic.

Q. Has ING suspended sales of Travel Insurance?

A. As of 18 March 2020, ING Travel Insurance will not be available for purchase. This decision has been made following Australian Federal and State Governments travel restrictions on domestic and international travel. This means that customers cannot currently purchase new domestic or international ING Travel Insurance policies.

The Department of Foreign Affairs Trade's (DFAT) travel warning for Australians has been upgraded to 'Do Not Travel' for all overseas destinations globally. ING and our travel insurance underwriter will review this position as further information becomes available.

Q. How do I make a travel insurance claim?

A. If you need to make a claim, please use our online claims form (https://forms.claims-travel.com.au/ing/travelclaim). Alternatively you can call us on 1800 456 406 within Australia or +61 7 3465 1787 from outside of Australia.

If you have any questions about your existing Travel Insurance policy, you can contact us on 1800 456 406 within Australia or +61 7 3465 1787 from outside of Australia.


FAQs - Home and Contents

Q. Can I buy ING landlord insurance?

A. ING Landlord insurance is available to purchase. Please note that due to COVID-19, currently these optional elements of the product are not available on new landlord Home and/or Contents insurance policies:

optional Tenant Default cover (cover for when your tenant stops paying rent or leaves without giving notice) and

optional Theft and Malicious damage by tenants cover (cover for loss, damage or destruction by your tenant or their visitors)

Existing policies where you have already purchased these optional covers are not impacted.
Please refer to the Product Disclosure Statement


FAQs - Roadside Assistance

Q. How will my roadside assistance change during COVID-19?

A. Our roadside assistance contact centre continues to be available on 1800 611 422 – 24 hours a day, 7 days a week.

In keeping with the social distancing rules enforced by the Australian Government, we have made some changes to the way we will service you. To ensure we are protecting you as well as our contractors, where roadside services are being performed, you will be asked to maintain appropriate social distance around the contractor as they work. In the instance where your vehicle must be towed, you are not able to travel in the tow truck. You will need to arrange your own transport (at your own cost) whilst we transport your vehicle.
Border closures will not impact our ability to deliver roadside assistance. Where towing is required across borders, this will be classified as an essential service and therefore exempt from border closures. Please note that there may be some delays in service close to state borders but we will keep you informed as required.

For full details, please read the Terms and Conditions.

Superannuation

Superannuation

FAQs

FAQs

Q. How is COVID-19 affecting my Living Super?

A. It's a volatile time and that might continue over the coming weeks and months. If you need assistance with your Living Super account, our ING Super team is available to assist you and can be contacted on 133 464, Monday to Friday 8am-8pm (AEST/AEDST). If you need some advice on what you should do, as we cannot provide you with personal financial advice, we'd encourage you to first speak with a qualified financial adviser before making any changes. Our Super team can help put you in touch with our partner provider, Link Advice; or you can find a financial adviser through the Financial Planning Association (visit fpa.com.au).

Q. Can I access my Super early due to COVID-19?

A. On 22 March 2020 the government announced some changes to allow some people who have been financially affected by COVID-19, to access some of their superannuation early. These changes came into effect 20 April 2020. Eligible people can access up to $10,000 of their superannuation for the financial year 2019-2020 and up to a further $10,000 for the financial 2020-2021. Applications can be submitted online through the myGov website: www.my.gov.au. For the financial year 2019-2020, applications must be submitted before 1 July 2020. For the financial year 2020-2021, applications can be submitted from 1 July 2020 to 31 December 2020 (extended from 24 September 2020).

Please note, the ATO has stipulated that you can only submit one application in each financial year. This is even if the total amount you request to be released, or the actual amount released by your fund, is less than $10,000. For example, if you request $8,000, you cannot make another application to request the additional $2,000.

The online application form on myGov will display all your superannuation accounts, as reported to the ATO by your respective superannuation funds. You can request the release of your super from up to five super accounts. For example, if you want to receive a total of $10,000 you can request $5,000 from one fund and a second $5,000 from another fund. This must be done within one myGov application form.

We encourage you to check your Living Super account (by logging on at ing.com.au) to see your current balance, which may be lower or higher than what is shown in the myGov application form.

Also please double-check that the BSB and account number you provided the ATO in your COVID-19 early release application is correct. Account names aren’t used by us or our bank to process the payment. We do not validate that the payment details (like the account name or any reference information you provided the ATO) match the destination account (BSB and account number). Incorrect details could result in a payment to the wrong account and may result in loss of your funds.

If you realise you had provided the ATO with incorrect BSB and/or account number, please contact us immediately on 133 464, 8am-8pm, Mon-Fri (AEST/AEDT).


Eligibility

If you are an Australian or New Zealand citizen or permanent resident, to be eligible for this early release you'll need to meet one or more of the following:

You are unemployed;

You are eligible to receive one of the following:

  • o job seeker payment;
  • o youth allowance for jobseekers (unless you are undertaking full-time study or are a new apprentice);
  • o parenting payment (which includes the single and partnered payments);
  • o special benefit; or
  • o farm household allowance.

On or after 1 January 2020:

  • o you were made redundant; or
  • o your working hours were reduced by 20 per cent or more; or
  • o if you are a sole trader - your business was suspended or there was a reduction in your turnover of 20 per cent or more.

People accessing an early release of their superannuation will not need to pay tax on amounts released and the money they withdraw will not affect Centrelink or Veterans' Affairs payments.

If you are a temporary resident and are eligible, you are able to apply to access up to $10,000 of your super until 30 June 2020. To be eligible for this release you must satisfy one or more of the following requirements:

You hold a student visa that you have held for 12 months or more and you are unable to meet immediate living expenses.

You are a temporary skilled work visa holder, your working hours have reduced to zero and you remain engaged with your employer.

You are a temporary resident visa holder (excluding student or skilled worker visas) and you cannot meet immediate living expenses.

You will not be required to attach evidence to support your application; however, you should retain records and documents to confirm your eligibility.


Q. How do I apply to access my Super early due to COVID-19 if I'm eligible?

A. If you are eligible you can apply directly to the ATO through the myGov website: www.my.gov.au.
As mentioned above, it’s worth checking your Living Super balance by logging into your account at ing.com.au and going to My Accounts > Superannuation as it may be higher or lower than what's shown in myGov.

After the ATO has processed your application and determined you are eligible, the ATO will pass the information on to you as well as us. We’ll then send you an SMS confirming we’ve received notification from the ATO, payment should be in your account in around 5 business days. If we expect this to be longer because we need more information, we’ll contact you.

Q. What is changing with minimum pension payment withdrawals?

A. With the impact of the COVID-19 on the financial markets and flow on effect on superannuation account balances, the government has reduced the percentage on the minimum pension payments that retirees must withdraw from their superannuation accounts for the financial years 2019-2020 and 2020-2021. This reduction will assist retirees who do not wish to sell investment assets held within their superannuation to meet the usual minimum pension withdraw amounts as they can now elect to withdraw the new lower minimum pension payment amount. This change applies to retirees who hold Pensions and Transition to Retirement accounts. The minimum pension payment withdrawal amount is calculated based on the individual’s age and their Pension balance at the commencement of their account, or at 1 July each year.

Old vs Temporary New Pension withdrawal minimums

Age at commencement of Pension or 1 July Previous minimum Pension Withdrawal New minimum Pension Withdrawal
Under 65 4.0% 2.0%
65-74 5.0% 2.5%
75-79 6.0% 3.0%
80-84 7.0% 3.5%
85-89 9.0% 4.5%
90-94 11.0% 5.5%
95 or more 14.0% 7.0%

The Government has provided this example to show how it works

Mike is a 66 year old retiree with a superannuation account-based pension

The value of Mike’s account-based pension at 1 July 2019 was $200,000. Under current minimum drawdown requirements, Mike is required by legislation to drawdown 5% of his account balance over the course of the 2019-20 and 2020-21 income years.

This means Mike has to drawdown $10,000 by 30 June 2020 to comply with the minimum drawdown requirements.

Following the temporary reduction in minimum drawdown requirements, Mike will now only be required to drawdown 2.5% of his account balance, that is, $5,000, by 30 June 2020. If Mike has already withdrawn over $5,000 for 2019-20, he can choose to not make any further withdrawals if he wants, but he cannot put the amounts withdrawn above $5,000 back into his superannuation account.

On 1 July 2020 the value of Mike’s account-based pension is $180,000 (after drawdowns and investment losses). During 2020-21, Mike is required to drawdown 2.5 per cent of his account balance, which is $4,500, instead of $9,000.

Source: Australian Government

Q. Does this impact both Pension & Transition to Retirement accounts?

A. Yes, this change impacts both Pension & Transition to Retirement accounts.

Q. Will my pension be reduced to the new minimum?

A. For any payments made prior to 1 July 2020; we will not change your current pension payment(s) to the new minimum. We decided this was the least disruptive approach for our pension members collectively. If however, for the remaining period up to 30 June 2020, you would like to reduce your pension payment(s) to the new minimums detailed above, or cease payment(s) (where applicable), you can do so by logging in to your Living Super account at ing.com.au, or contacting us on 133 464, 8am-8pm, Mon-Fri (AEST/AEDT).

For any payments made from 1 July 2020; if you have chosen to receive the minimum pension amount allowable, the new minimum will automatically apply for any payments made after 1 July 2020. However, if you would like to change your pension payment amount from the new minimum, you can do so at any time by logging in to your account at ing.com.au. We will also write to you in July 2020 to confirm what your new pension payment amount will be.

Q. Why is my Living Super balance going down?

A. Market volatility is not unusual, particularly in times of uncertainty. In the current market we are seeing significant fluctuations in the prices of securities, however ING Living Super will continue to function as it has done in the past, providing you with a flexible and easy to use solution to save your super for your retirement.

It is natural to be concerned about the events unfolding around us both in Australia and globally. We understand you may be concerned about your super balance. For many people superannuation is a long term investment. Whilst investments like shares can attract more risk in the short-term they are generally considered by many experts to be better investments over the long-term. On the other hand, investments that may appear safe in the short-term, such as cash, may not help you to grow your super balance over the long-term, after inflation. Often, many people diversify their investments across a mix of different types of assets within their superannuation account, targeting an overall level of risk that seeks to balance their ability to accept short-term volatility, their time-horizon until retirement and their desired income in retirement.

Generally, things you want to keep in mind are:

Your super is intended to be a long-term investment to support you when you retire;

Decide how comfortable you are with accepting short-term risk and long-term risk for potential future reward;

Understand how your super balance is currently invested;

Understand the alternative investment options available to you; and

Get help if needed from a qualified Financial Adviser


Q. Should I change how I am invested in my Living Super?

A. While it may be tempting to change your strategy to one with a lower risk profile when markets are falling, there are pros and cons in doing so, depending on your personal risk appetite and financial circumstances. For example, by changing to a lower risk option during a market decline, you risk selling at a time when prices are low, and may miss the potential advantage of gains when markets eventually recover. It is important to consider that often market falls are followed by a sustained period of positive returns. Once you have considered what is appropriate for you, taking into account any advice received from your financial adviser you can make the necessary changes through the online portal.

Q. How do I check what I am currently invested in for my Living Super?

A. You can check your portfolio’s current investment allocation by logging into your account at ing.com.au and going to My Accounts > Superannuation > My Investments > Investment Allocation

Q. How do I find out more about the different investment options available in my Living Super?

A. With Living Super, there are wide range of investment options, ranging from low risk options such as cash to high risk options such as Australian or International shares. You can choose a single diversified investment option that already includes multiple asset classes, such as the Growth option, or you can customise your investments by mixing and matching a combination of different options to suit your individual preferences.

You can find more information on pages 15 to 20 of the Living Super Product Guide located here.

Q. How do I change my investments in my Living Super?

A. You can change to your investment by logging into your account and going to My Accounts > Superannuation > Change your investments and submitting a change.

It generally takes 3 to 5 business days to complete a switch, but if you make your request before 10:30am (Sydney time) on a business day the sell down of your current investment is effective at the unit price for that same day. If your request is received after 10:30am (Sydney time) on a business day or on the weekend, the sell down of your investments will occur on the following business day at the unit price effective that day.

Business

Business

Tips, hints and guides

FAQs

Q. What does the 4 month payment pause or repayment reduction extension that was announced by the Australian Banking Association mean for ING customers?

A. We're here to support you through this COVID crisis. If you’ve paused your repayments or reduced them to below the minimum already and you’re not able to start repaying all or some of your usual payments in full, this 4 month extension might be an option.

If your business is slowly returning to normal and you are able to start repaying full or some of your repayments, we can help you with adjusting to return to normal repayments or reduced repayment amounts at any time.?

If you've been on a payment pause for 6 months and feel like you’re still not in a position to resume full repayments, we will work with you to find an option that suits your situation. This may include extending the length of the loan, consolidating your debts or providing you with an additional 4 month payment pause or repayment reduction (once the original 6 months has ended, total 10 months including extensions). These are just some of the options we can discuss with you that are subject to verification of your situation and an assessment.

If you want to cancel your repayment pause or repayment reduction and resume your repayments as normal, we can do this for you over the phone, please call 133 464. ?

Q. Payment pause for small business customers with total ING commercial loans under $3 million

A. We know many of our customers are experiencing unexpected difficulties as a result of COVID-19. If you're having difficulty making repayments on an ING commercial loan, we may be able to help you.

ING small business customers with total ING commercial loans under $3 million have the ability to apply for financial support in the form of a payment pause or a repayment reduction to pay less than your minimum repayment.

A payment pause means you will not be required to make any repayments for an initial 3 month period on your ING commercial loan.

A repayment reduction means you can nominate and pay an amount that is less than your minimum repayment amount each fortnight/month for 3 months. Note that the reduced repayment amount must be $10 or more.

However note that:

Interest and fees will continue to accrue on your loan during the payment pause or repayment reduction period; and

At the end of the payment pause or repayment reduction period, your loan balance will be higher, and your minimum repayments will increase so that your loan can still be paid within your loan term.

After the initial 3 month period, a payment pause or repayment reduction extension for a further 3 months may also be available on request and is subject to assessment.

If you've been on a payment pause for a total period of 6 months and feel like you're still not in a position to resume full repayments, we will work with you to find an option that suits your situation. This may include extending the length of the loan, consolidating your debts or providing you with an additional 4 month payment pause or payment reduction (once the original 6 months has ended). These are just some of the options we can discuss with you that are subject to verification of your situation and an assessment.

To request a new payment pause or repayment reduction (below the minimum repayment amount) or apply to extend your existing arrangement please call one of our Lending Specialists on 133 464 available 8am – 8pm, 7 days a week.

If you believe that you may not be eligible for a payment pause or repayment reduction, other assistance may be available to you. You should contact us to discuss your options.

Q. Payment pause relief for business customers with a total commercial loan exposure of $3 million or more

A. Eligible ING customers impacted by COVID-19 are able to pause their commercial loan repayments for up to 6 months.

To request the payment pause, a customer must currently hold a total commercial loan exposure of $3 million or more, but less than $10 million, and must meet our other eligibility criteria.

You will not be required to make any repayments during a payment pause period, however, interest and fees will continue to accrue. This means at the end of the payment pause period your loan balance will be higher.

To find out more about the eligibility criteria and how you can request to take up this assistance please contact your dedicated ING Relationship Manager.

Q. What is a payment pause?

A. To help support you through the COVID crisis we are offering eligible small customers a 3 month payment pause of your ING commercial loan repayments if you are experiencing financial difficulty due to COVID-19. An extension for a further 3 months may also be available on request and is subject to verification of your situation and assessment.

If you've paused your repayments already and you’re not able to start repaying all or some of your usual payments, we’ll work with you to find an option that suits your situation. This may include extending the length of the loan, consolidating your debts or providing you with an additional 4 month payment pause or payment reduction (once the original 6 months has ended). These are just some of the options we can discuss with you that are subject to verification of your situation and to an assessment.

A payment pause means you will not be required to make any repayments during the payment pause period, however interest and fees will continue to accrue on your loan. This means at the end of the payment pause period, your loan balance will be higher, and your minimum repayments will increase so that your loan can still be paid within your loan term.

If you have funds available in redraw, we will hold an amount equal to your total minimum repayments from the date we activate or extend the payment pause to the end of the requested period and you cannot access these "held" funds until after the payment pause period.

For variable commercial loans, if you feel you may need some or all of the funds in your redraw during your payment pause period you may want to withdraw funds before making a payment pause request.

For fixed rate commercial loans, as per usual, any redraw balance or advanced funds cannot be accessed during the payment pause period or at any time during the fixed rate period. Redrawing additional payments or advanced funds are not features of our fixed rate loans. Please note, break costs may be payable if at any time before the fixed term expires, you pay out your commercial loan or you make additional payments of $20,000 or more in any one year period (starting on an anniversary of the settlement date (inclusive).

To request a new payment pause or repayment reduction (below the minimum repayment amount) or apply to extend your existing arrangement please call one of our Lending Specialists on 133 464 available 8am – 8pm, 7 days a week.

Q. What other options are available, if I'm experiencing financial difficulty with my ING commercial loan?

A. If you are having difficulties meeting your commercial loan repayments as a result of COVID-19 you can also consider a number of different options.

You may be able to use money available to you in redraw on your commercial loan to make your loan repayments.

How to access redraw for your repayments?

To use available redraw from your commercial loan to make repayments, simply contact us on 133 464 and we will arrange for your existing direct debit to be cancelled for the period during which you will be relying on your redraw to make repayments

You might be paying down your commercial loan with larger than required repayments. If this is the case, reducing your repayments to the minimum repayment is an option.

Q. How can I request to pause my repayments?

A. To apply for COVID-19 financial assistance please call one of our Lending Specialists on 133 464 available 8am - 8pm, 7 days a week. Please note, our Contact Centre is experiencing a higher than normal wait time.
The Lending Specialist that you contact will be able to complete an application and in some cases may be approved during the call.

Q. When will my repayments recommence?

A. Once your payment pause arrangement is in place your repayments will not be debited as scheduled until the payment pause period has expired. We will send you confirmation that your arrangement has been processed and outline all the relevant details.

Once your COVID-19 payment pause arrangement is in place your repayments will not be debited as scheduled until the deferral period has expired. We will send you confirmation that your arrangement has been processed and outline all the relevant details.

Q. I've lost my job and need to access my money now, can I close my Term Deposit early (Business & Personal)?

A. To support our customers who have suffered a loss of income or employment due to COVID-19, you can contact us to request access to funds in your Term Deposit account. Please contact us on 133 464 - 24 hours, 7 days a week.

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