Best RaboDirect Term Deposits in New South Wales Sydney, Newcastle and Wollongong

It Ain't What it Used to Be – We have been using Rabobank for many years and generally found them easy to deal with. The major reason for this is that everything is done online… Read more

and you don't have to speak with anybody. Speaking to a live person at any Bank these days is a totally unrewarding experience. In recent times however there has been a number of requests to supply information such as as where did you get your money from, and how much money will you be saving with us over the next 12 months. They use the excuse that they must do this to comply with the Money laundering and Anti Terrorism act. This is total fabrication and they are only seeking personal information because they are a subsidiary of a Dutch Bank which likes prying into its customer's affairs. If it's good enough for the Dutch then it's good enough for the Aussies tomm cop it in the neck.

Having said that I do find that doing transactions on line works quite well and I have no issues with the Digipass security that they use. This is old technology but it works. You normally don't fix something unless it is broken. Alas, that is exactly what is happening. Rabobank have advised that hey will be scrapping the Digipass, later this year, and you will be forced to used the Rabobank App. We operate two accounts with RB. One in joint personal names and one for our SMSF. It seems that you can load one account only on to the App so I have no idea what we do with the second account. Approaches to RB is like being inside the Maxwell Smart cone of silence. The silence is deafening. I have decided that enough is enough. As our term deposits mature we shall close them off and invest the funds elsewhere. It's a shame that it has come to this, but one does get tired of being asked the same questions over and over again. It is like a Court of Law whereby they keep asking the same question hoping that you will purge yourself. It's been nice knowing you RB but as the Walrus said to the Carpenter, the time has come.