Home loans- a waste of time- don't even try
I bank with 86400. I wanted to go with them for a home loan. What a waste of time. They are slower than a snail. Provided them all the documents they required, financial savings, income, employment. I have savings of about 250k and zero debt liability. Still they keep coming back each week for additional documents, some that were already submitted.Had to remind them they were already sent Finally after 6 weeks advised loan pre- approved and will get written confirmation in few days. Still nothing after a week.On checking advised I will have it...in a day. After 4 days get a call the loan cannot be approved as 86400 have no money and low ourselves. What a scam, soon dodgy. Just avoid. Luckily I had a pretty approval through another lender or I would have been in distress due to 86400's poor management and lack of customer empathy.
home loans: you're taking on more risk than them
You're taking on more risk by employing the services of 86 400 than they are risking in lending to you. After more than a month of give every assurance a credit application would be approved, with a 30% deposit, working full time hours on casual contract for 8 months, low spending and a stellar credit rating, it was knocked back on the basis of 'not having worked in my role for 6 months', even though I had. Okay, if you have super strict lending policy, that's one thing. But the amount of time it's taken getting a response from them, from the m...isspelt emails to the constant assurances that it would be approved in just a few more days, to the total lack of communication about why the application was really declined, 86 400 is really, truly, awful. Avoid at all costs.
Started off ok, but then started blocking my account relentlessly
First 3 or 4 months were fine, however the last few months have been nothing but blocks placed on my account. Can't send more than $1000 at a time unless you call them, then they decide to be the judge of who you are allowed to send money.
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Card hacked; Fraudulent transaction made - they don't have a transaction block feature
used for hardly one month, my card was used for a fraudulent transaction. Called customer support and they said they don't have a transaction block feature and can only raise a dispute. They have blocked my card though. Now I am without a card and need to wait 30 days to get my money back (if I get it). Good that I did not close my other bank account and waited for sometime before jumping ships.
They're holding my money ransom and wont unblock my account
I have been banking with 86 400 for around 6 months, and with no issues for the most part.
Until one day they randomly decide they need to 'confirm my identity' again. I was unable to transfer any money to my other bank accounts, or make any purchases so I called to find out what happened.
Nobody advised me my account was blocked until i called them!
They then had me complete a bunch of digital ID checks and I thought my account would be restored, but NOPE. I was told it will take up to 3 days for a team to 'review' it.
The customer service t...eam was not even sympathetic that I had no money in my other accouts, I had no cash, no credit cards to use in the interim and will need to borrow money unless they unblock my account. 3 days pass and my account is still blocked so i phone again and was told the team are 'returning to work today' so the review will probably take 'another few days'. WHAT THE HELL
- Verified customer
Playground for Scammers Avoid
Had no interest in recovering my lost funds to a scam artist. If anyone asks you to pay to one of this banks accounts avoid. This is a prime example of how easy it is for scammers to operate, account opened under a stolen ID. Did nothing to return my money even after reporting immediately.
- Verified customer
Incompetence at an almost unbelievable level
Thinking that I should give the digital start-up a fair go, I opened an account. Initial opening experience was ok (not great). I provided my Tax File Number and NSW Driver's Licence as valid ID. I deposited $1000 and then pushed $900 into the savings account from the payment account. All of a sudden my account is "locked" and unable to be accessed. I contacted them and unfortunately received a differing story upon each contact. HINT: Don't waste your time with the Customer Non-Service people, they are vague and disinterested. When I had ...escalated it to the head of compliance (who only works Monday to Wednesday........SERIOUSLY?!) She laid the entire blame squarely at the feet of Westpac Banking Corporation. A fraud Analyst at WBC had "concerns" with my depositing money from WBC to 86400. What the.......??? When I insisted upon specifics there were none. Apparently I have to wait to speak to someone from their fraud department. Do not take a chance with this pretend bank. The main problem is the total LACK of communication. I had to instigate every instance. It was only when I was escalating the entire sorry situation to AFCA that I started to receive phone calls from 86400. If 86400 last a year in the Australian marketplace, it will be nothing short of a miracle.
- Verified customer
Unreliable with unhelpful poorly trained customer service.
I Can't recommend using 86400. Firstly I couldn't have my wages paid into either of my 86400 accounts as our wage payment company didn't recognise their BSB. I encountered issues while transferring from a big 4 bank into 86400 via Osko on two occasions. Initially a small transfer of $150 went missing for a day, while inconvenient wasn't a huge issue. A larger transfer of $2000 went missing for a week and this was a problem. Again transferred from a big 4 account to my 86400 account via Osko. The payment simply disappeared and I was told several...times over the 5 days is was the sending banks issue not an 86400 problem. Both banks claimed it wasn't their issue however only the sending bank offered help by running a transaction trace. They were adamant the transfer was successful because of data they could see on their system which ultimately showed 86400 had received the money despite their constant denial. When faced with the transaction trace report my money was mysteriously found within minutes, apparently applied to an 86400 internal corporate account. Amazingly I then had to fight to have my funds released and transferred into my account. The money that went missing was for a furniture removal company and car registration. 86400 almost had me living without our household belongings an unregistered car as a family of 5. 86400 customer service wasn't helpful at all. Nobody seemed interested in looking a little deeper to find the transaction and if it hadn't been for the help of the sending bank my money would still be lost.
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