Best Savings Accounts in Queensland Brisbane, Gold Coast, Sunshine Coast, Townsville and Cairns

This bank was recommended to me for easy transfers to a crypto exchange, as Commonwealth Bank – which I normally use – has a $10,000 limit per month.… Read more

When I tried to transfer $10,000 to Kraken, the transfer was blocked and I was told to contact customer support. When I explained the situation, they cancelled my account without any further questions and told me to withdraw my funds within a month. When I then tried to send my money back to the same account I had originally transferred it from, my funds were blocked!

ING has restricted my savings account, claiming it is required under "KYC" and regulatory compliance. In reality, Australian KYC obligations under… Read more

the AML/CTF Act are **risk-based** and do NOT apply to a basic savings account with no credit application, no large cash transactions, and no suspicious activity!

Despite this, ING is demanding unrelated personal information - employment and income - while threatening account closure and restricting access to funds. They are misrepresenting legal requirements and placing the compliance burden on the customer, when it is theirs. Portal messages are being counted as "attempts to contact", yet no emails or phone calls were made or even attempted.

Customers should be aware that ING are using KYC as a pretext to coerce unrelated personal information.

Be warned. Read the small print. I recently lost hundreds of dollars because I missed out on the bonus interest. I transferred the required amount… Read more

three days before the end of the month but because Rabobank does not use any modern payment platforms, the transfer was not received on time and I lost the previous month's interest. Quality financial institutions with HISA (ING, MeBank, Ubank, BankWest) use the fast payments platform but more importantly, when you miss the bonus interest criteria, you lose the FOLLOWING MONTH'S interest, not PREVIOUS MONTH'S INTEREST. If I had this money at the other banks, I could have transferred my money away and would have lost one day's interest, rather than the whole month's interest. So basically Rabo is saying 'you messed up, nothing you can do now, we will keep your interest'. Thirdly, Rabobank does not alert you that you're about to miss out on bonus rates like other banks. Fourthly, the base rate is extremely low, ensuring that they maximise their profit when you miss out on the bonus. Go with one of the quality banks mentioned above. They use modern systems and have a lot fairer T&C that are not hidden somewhere in their website's FAQs. By alerting the customers, they also come across like they're in your team, rather than just wanting to make the most of money out of you like Rabo. Do yourself a favour and stay clear of this bank and warn others as well.

Maximise Profits by Minimising Deposit Rate Increases – I have had a progress saver account for many years. ANZ is super fast at passing interest rate increases to borrowers and extremely slow at passing… Read more

them to deposit customers. Most competitors passed the November 2023 increase to their deposit customers late last month, but ANZ still hasn't passed it on over 1 month since the cash rate increased. You can get at least 0.25% more from nearly every other bank.

UBANK don't want new customers If you want to open a new savings account with UBANK you must do it via their app. The process is complex and requires… Read more

you to change access to your phone (for any reason) by using your eyes or fingerprints. If you are successful in opening an account (I wasn't) the savings account only earns interest if the total balance of funds in all accounts with UBANK in the month increases by $1 (not including interest). So in essence you have opened a permanent term deposit, unless you are prepared to lose interest I wonder how many older people, who have lots of money but low IT skills,, will be attracted to UBANK?

NetBank has to be the worst of all banks! Constantly down when you need it most.Can't reach them on the phone and no information online! And may I… Read more

mention the crazy new LOGIN having to press items on your mobile always to get online on my IMac! Really this is so slow and a nuisance> I'm migrating to another bank after 50years - They just don't care ...

A good online option with competitive rates – A good account with easy access and high variable rate for 'rainy day' savings which aren't locked away. Although you do lose majority of interest… Read more

reward in any one month which contains a withdrawal, you only need manage the account as a 'deposit without withdrawal' style. Although lower interest than a fixed term, it does provide easy access Easy to set up and move money into, 24x7 access via internet to your money, good interest rate Slug of 'no interest' virtually in month of withdrawal - would prefer a lower hit on that front. Can only be in one name so if you hold joint accounts, only the account holder can view this account

Good Savings Account – Bonus interest turns this into a good savings account currently (Jan 2025). As long as you take note of the balance at the start of the month and… Read more

make sure the balance is $50 higher at the end of the month, it’s easy to give your savings a significant boost. Very simple to stay on top of. Well done St George

Love the high interest rate – I can’t afford to put much away, so the maximum of $250 per month is fine with me. The interest rate for this account has always been the highest… Read more

that i could find anywhere (always above 3%). Unfortunately this particular account is no longer offered.

St George changed my savings account interest rate without telling me – Beware - you need to contact St George every 3 months and ask for discretion rate or else it goes down to worthless rate. They did not call or… Read more

message me to tell me rate drop.

This does NOT seem correct to me - why is it not possible to advise via email, text or post that there will be a change to the interest rate they are paying?

How can they blatantly change the conditions of the saver account I've changed to Macquarie bank exactly how it should be for savings reward account

No access to account, still charged me $490 yet still says no premium account…have tried to contact them, am ignored, have attempted to go through PayPal it’s a SCAM - BEWARE!! Give me my money back!!!

20 years, 5 stars prior to the merge of ME Bank that became a mess then changing our cards to VISA was a disaster with an even a bigger mess is the… Read more

long waiting and questions to talk. No accepting for quarterly money from overseas. So, we decided to move to another bank January 15th and are still waiting for our Closed Document as Center Link want proof. It is now Feb 25. Have tried phoning and post and still no body can help. Sadly, Is there any wonder we moved.

Very disappointed with the Everyday Options account Pay Later being axed and replaced with another form of Everyday Options account. The Pay later… Read more

account was an excellent account for budgeting and getting bills paid on time. Looks like Afterpay and Zip will be my options now. Very confusing as to why the Everyday Options account was still being advertised after it was supposed to have been axed. I was eventually informed that they were different accounts. I wonder now how much ANZ will ruin what was originally an excellent banking service. David

I was attracted to the AMP Go account as it has no international conversion fees. It also has a linked savings account that currently pays 4.85%… Read more

with no hurdles. No tricks!

Opened several months ago. All app based. Process was fairly straight forward. Easy to use. Informative. Notifies me when money arrives or leaves.

Only negative is you can't have a joint savings account or joint transaction account unless each account holder also has their own transaction account.

First time I have banked with AMP and impressed so far. Happy to get rid of bonus interest accounts with tricky conditions. Again, earn the full rate with AMP Go with No tricks.

BE WARY - USELESS - a simple thing like resetting a password is impossible and then after an hour you are sent a form to go into WestPac - DO NOT USE

Commonwealth Bank - Security or Marketing – I am an 89 years young customer of the Commonwealth Bank and have used its facilities to transfer money to various organizations over the years. … Read more

Friday, 19 Jan I went to my local branch and with the cheerful assistance of the Manager, transferred funds to an interstate Bank; all "checks and balance" were made;. There was no possibility of a scam.

Within 30 minutes of leaving the bank, I received a phone call; 2-3 texts and 4-5 emails wanting me to contact the Bank.

Suspecting a scam I checked with the local branch and was assured the contact was genuine.

I phoned the number and was advised the bank was doing a security check to protect me. After the usual "identifying" questions; full name, date of birth, residential address etc; then followed a list of questions which appeared to have nothing to do with security but more attuned to a "Marketing Survey." I objected to this unwarranted intrusion of my private affairs but was informed that unless I answered all questions, the transfer of funds would not proceed. BIF DADDY HAD THE STICK.

Under protest, I answered all questions. It was agreed that there was no scam and that the funds would be transmitted to the receiving Bank and should be in the designated account by Saturday 20 January.

A review of my Bank Account on Monday 22 revealed that the amount had not been transferred as I was told on the previous Friday and by way of email. [FALSE ADVICE FROM COMM BANK]

Another trip to the local branch late on Tuesday 23 Jan and was advised to contact the security section again. This section failed to notify me that the funds HAD NOT been transferred.

Today, 24 January, another call to Security to be advised the funds would be transferred within a 40 minute time frame. Records now show that to be correct.

On three occasions, I have requested to be supplied with the questions asked (apart from identifying questions) and on each occasion was advised that staff could not provide the questions. When asked for a reason for the refusal, I was told it was because of "BANK POLICY."

When any organization hides behind the excuse "POLICY," then one commences to smell a 'rat.'

Was the Commonwealth Bank trying to protect my financial interests or more likely was the Commonwealth Bank conducting a covert "Marketing Survey" to find reasons for their shrinking business base and loss of customer support. You be the Judge.

Tom

CBA treatment of the Aged – My father who is bed ridden in an aged care facility, saved well throughout his life and put is monies in various banks. CBA has frozen his Netbank… Read more

account after he sold one of his investment properties in an attempt to move some of his assets into various term deposits. He was told that he would need to come into a branch to identify himself which isnt possible without an ambulance. He doesn't know if the aged care facility is going to be paid to keep his place, cant prepare his tax return and been on the security line for more than 1 hr. CBA need to realise that not ALL their customers can get to a branch without the use of an ambulance. When asked if a CBA employee could visit the aged care facility they said it was against the banks policy. So CBA has the bulk of his assets and he doesnt have access to any of it! I would also like to point out the CBA was notified that such transactions were coming and still their processes cant cope.

Extremely Disappointed in the Commonwealth Bank Goal Saver Just be aware if you take any money out you will not receive any bonus you lose the lot… Read more

and you need to put money in every month if not same thing happens. I only took some of the interest out and lost over $500 on $160,000 The only way is to take the lot out at once . A big thanks go's to [Name Removed] Commonwealth Bank of Australia FOR DOING ABSOLUTELY NOTHING

NAB = Scam scam scam, signed up for 4.45%. RBA raised rates by .25%… NAB only passed on .15 then the RBA put the rate rates up another .25% and NAB… Read more

only increased again at .15% scamming me out of .2% approximately $4000 per year.

Their rate is now lower than most saving rates with other banks so don’t waste your time moving over to these guys once you’re there they won’t look after you… Just rip you off considering they are offering 4.95% for new customers. they don’t give a cr#p about their existing customers only giving them 4.75 once you’ve already signed up and transferred your funds. 0/10

I’m out

Opened the eSaver account hoping for high interest. Met all requirements but still getting 1% interest. Called the bank and the operator explained I… Read more

need to have the balance higher than the previous by month end to get the promotion rate. That's just like the Life account. When I questioned that he said it's the same just different interest rate. Good way to scam people. I won't put any saving with thme anymore

Unnecessary step(s) to earn highest interest – - Home Saver Account offers 5.25% with conditions - You need to deposit $2K (*you can withdraw) - The unnecessary step (*in my opinion): don't… Read more

deposit direct into Home Saver [ where your bonus interest is accrued ] instead deposit into everyday account then transfer to Home Saver otherwise you don't meet criteria, therefore get zero bonus interest - Finally when their interest rates change or drop, you don't get notified (apparently it's too costly to undertake such) so it just costs customers in lost interest. This is low hanging fruit for GSB to improve upon - GSB can just electronic communication of upcoming change to interest on the app/internet banking/email - it's not that costly.

Bank BOQ bulldust – Complicated accounts offered.not simple to navigate .online application say -go to branch....there's hardly any. Using words simple.smart.term . I'm no lawyer.wasted 5 hrs of work time

Shady business practice, Taking customers for a ride – well, Banksa would only give you this interest rate if you remember to call them every 3 months and renew it. even then its quite low compared to… Read more

some other banks. the normal interest rate is 0.15% and its pathetic. the bonus 1.48% only applies if you call them ( in 2020 it has dropped down to 0.80% including bonus interest). i mean why do we have to call them for it? it's because they are counting on you to forget to call them after that time and then you can just drop you back to 0.15% without even telling you or without any notification what so ever. they want you to forget so they can rip you off. i mean its not that hard to send you an email to alert you to let you know that your 3 months are almost over. but NOPE, they ll just sneakily drop your interest rate. and this time i tried calling them 3 days before it was over, they refused to do it and told me that i ll have to call back once it expired. i mean WTH? they want me to wait for it to expire and only then they ll apply it for me? this is such shady business practice. i am moving my money to a different bank. F%$k you Banksa.

Commbank the kings of shifty business – CBA is honestly a ruthless, bloodsucking bank that only seems to care about taking your money. They could not care less and just refer to the fine… Read more

print as their argumnent I've had two loans with them for over 15 years and never missed a payment once !

Out of nowhere, they started taking money from my account for a loan that was already paid off because apparently the interest-only period had ended. I was shocked to find out they hadn’t notified me at all—no letter, no email, no phone call, and no SMS.

When I called to ask why I wasn’t informed, they told me they didn’t have my email address! Seriously? After all this time, they don’t have my contact info? It’s hard to believe that a bank can operate like this. If I had defaulted on my payments, would they really have just ignored me because they didn’t have my email? What if there was no money in the account from which they took the funds? Would CBA have just forgotten about everything? It’s absurd!

Now they’re refusing to give me back the money they took without any notice. I rThis whole situation has left me frustrated and disappointed with their service.

cant wait to close these loans and all accounts with them

More like gambling than saving – A flexible account that pays you almost no interest if you make any kind of withdrawal within a month. This is more like placing a bet on whether you… Read more

need to withdraw money each month than it is a regular savings account.

Be aware you will get almost no interest in the month you close it, and god forbid you make a small transaction in error while you hold the account. This is not a term deposit, but it has all the worst features of a term deposit plus an element of gambling with only downsides.