ING - Terms and Conditions - Australia Post

Time
to read the
fine print
1
Personal Term Deposits
Terms and Conditions
Date: 13 February 2011

Do I
really
need
to read
this?
Where to keep your hard earned money safe
from temptation isn’t a snap decision - so grab
a cuppa, put your feet up and once you’ve
gone through this booklet keep it somewhere
safe so you can refer back to it later.
Contents
1. It’s nice to feel welcome
A snapshot view of an ING DIRECT
Personal Term Deposit 5
2. Open sesame!
What’s involved in opening a Personal Term Deposit 10
3. It’s all adding up
Interest 14
4. Money in, money out
Operating a Personal Term Deposit 18
5. No bank fees, no worries
Fees and charges 27
6. Who’s responsible?
Who’s liable for unauthorised transactions 28
2 3

7. Putting the brakes on
Placing a stop on your Personal Term Deposit
and/or closing it 31
8. Things change
Changes to conditions 34
9. This is no time for decaf
Other important information 37
10. Do not disturb
Privacy Statement 40
11. R.E.S.P.E.C.T
We welcome feedback, and resolving concerns 43
12. It’s all there in black and white
(and orange)
Direct Debit Request Service Agreement 46
1. It’s nice to feel
welcome
A snapshot view of an ING DIRECT
Personal Term Deposit
About this booklet
Features at a glance
Explaining words in plain English
Thank you for considering an ING DIRECT Personal
Term Deposit.
please read this Terms and Conditions
booklet carefully
ingdirect.com.au 133 464.
at 13 February 2011.

Personal Term Deposit
Features at a glance
Significant
benefits
Significant
risks
Fees and
charges
Interest
rates
Calculation
and payment
of interest
Maturity
options
Statement
of account
Significant
account
conditions
Taxation
implications

Explaining words in plain English
“Access Code”
“account”
“Anniversary Date”
“attorney”
“business day”
“Client Number”
“closing balance”
“Codes”
“daily balance”
“Direct Associate”
“Direct Debit Request”
“early termination date”
“EFT Code”
“EFT institution’s equipment”
“eligible ING DIRECT account”
“enhanced security measure”
“external bank account”
“ING DIRECT”
“Interactive Service”
“linked bank account”
“maturity date”
“Personal Term Deposit”
”principal”
“Security Code”
measures.
“security device”
”standard term”
”Temporary Access Code”
“unauthorised transactions”
“us”, “our” and “we”
“Welcome Letter”
“you”, “your”

2. Open
sesame!
What’s involved in opening a Personal Term
Deposit?
Eligibility
Applying
Verifying
Account opens and is activated
Requirements for opening
an account
Am I eligible to apply?
Who can open and operate
a Personal Term Deposit?
Personal Term Deposits opened and/or operated by
attorneys
identity.
What about my adviser?
10 11

I need a linked account
– what does that mean?
What do I have to provide when I apply?
You need to provide your:
And if you are applying by paper and linking to an
external bank account, either:
What does verification mean?
Account opens and is activated
12 13

3. It’s all
Interest
adding up
Interest
How we calculate interest
Tax implications, Tax File Numbers and
Withholding Tax
Loyalty Bonus
How we calculate interest
Terms of one year or less
Daily balance x interest rate (as a percentage)
365
Early Termination – terms of one year or less
Type of Term
Term – if you selected
your own maturity date
Standard
Term
Interest
rate
reduction
Less than 64 Days 30 Day 0.25% p.a.
65 - 99 Days 90 Day 0.50% p.a.
100 - 149 Days 120 Day 0.75% p.a.
150 - 199 Days 180 Day 0.75% p.a.
200 - 249 Days 210 Day 1.00% p.a.
250 - 299 Days 270 Day 1.00% p.a.
300 - 349 Days 330 Day 1.00% p.a.
350 - 365 Days 1 Year 1.00% p.a.

The following example is for illustrative purposes only.
Terms of more than one year
Daily balance x interest rate (as a percentage)
365
maturity date.
Early Termination - terms of more than one year
Term Interest rate reduction
2 Years 2.00% p.a.
The following example is for illustrative purposes only.
End of financial year maturities
Tax implications, Tax File Numbers
and Withholding Tax

4. Money in,
money out
Operating a Personal Term Deposit
Making deposits
Making withdrawals
Maturity and reinvestment
Statement of account
The nitty gritty of using an Interactive Service
Your security and Codes
Operating a Personal Term Deposit
Joint account holders
Making deposits

Making withdrawals
Partial withdrawals
How to make a withdrawal prior to maturity
Overdrawn accounts
Maturity and reinvestment
Six options for maturity
us to:
Making additional deposits
20 21

Changing your maturity instructions
any time up to one business day before the
maturity date by:
ingdirect.com.au
133 464.
When renewing your Personal Term Deposit
Maturity instructions
Statement of account
The nitty gritty of using an
Interactive Service
Your Client Number and Access Code
Transactions via an Interactive Service
22 23

Confirmation of transactions
Deposit discrepancy
Keeping track of transactions
Your instructions
System failures and maintenance
Your security and Codes
Enhanced security measures
you may:
Keeping your Codes secret

situation.
you do so.
5. No bank fees,
no worries
Fees and charges
There are no ING DIRECT fees
Government Charges

6. Who’s
responsible?
Who’s liable for unauthorised transactions?
When you’re not liable
When you’ll have limited liability
When you’ll be liable
Warning: Account Aggregation Services
Liability for unreasonably delaying notification
Liability caused by equipment malfunctions
When you’re not liable
When you’ll have limited liability
When you’ll be liable

Warning: Account Aggregation Service
Liability for unreasonably delaying
notification
Liability caused by equipment
malfunctions
7. Putting the
brakes on
Placing a stop on your Personal Term Deposit
and/or closing it
We may place a stop on your Personal Term
Deposit
.
and/
30 31
How your Personal Term Deposit may be closed
We may place a stop on your
Personal Term Deposit if:

How your Personal Term Deposit
may be closed
Your account will be automatically closed if you instruct us to:
“
32 33

8. Things
Change to conditions
change
We may change these conditions
We’ll give you notice of any changes
Change of name and address
Notices and return mail
Change of linked bank account
We may change these conditions
We’ll give you notice of any changes
Change of name and address
Notices and return mail

Change of linked bank account
your attorney:
9. This is no time
for decaf
Other important banking information
When we may act
The Code of Banking Practice
The EFT Code
Privacy and confidentiality
Australian Financial Services Licensees
Financial Claims Scheme
When we may act
The Code of Banking Practice

The EFT Code
Privacy and confidentiality
Australian Financial Services Licensees
Financial Claims Scheme

10. Do not
disturb
Privacy Statement
Collection of your personal information from you or
other sources;
Use and disclosure of your personal information;
and
identity.
Access to your personal information;
be made by you.

Receipt of further ING Group information;
Updating your personal information;
Use of internet cookies;
11. R.E.S.P.E.C.T
We welcome feedback, and resolving concerns
What to do if you have a concern
Details of what we’ll do
Who else to contact

What to do if you have a concern
address it to:
Details of your concern
Escalating a concern
Details of what we’ll do
Who else to contact

12. It’s all there
Direct Debit Request
Service Agreement
in black and
white
(and orange)
1. Drawing arrangements
2. Your rights
3. Your responsibilities

Hey, you made it to the end. Well done!
Just in case you want to make any notes, or jot down
some questions – here are a couple of blank pages.
Remember, we’re here to help – and we’re only a
phone call away, 24 hours a day, 7 days a week.

Visit our website at
ingdirect.com.au
Mail us (no stamp required) at:
ING DIRECT
Reply Paid 2682
Sydney NSW 2001
Call 133 464
24 hours a day, 7 days a week