Adelaide Bank Home Loan

Shockingly incompetent. It’s astonishing that they deleted their app 6 months ago and nothing has been implemented. I’ve been trying to refinance for months and it’s just been error after error from their end. I wouldn’t be surprised if they collapse soon. Even their solicitors at Galalee can’t even settle accounts correctly and that’s all they do. Show details

Adelaide Bank – An Absolute Disgrace People have been doing it tough for a long time with these painfully high interest rates. Now that rates have finally started to come down, Adelaide Bank has the audacity to only pass on 10 basis points of the… Read more

25-point cut. That’s not just disappointing—it’s disgraceful.

You’ve been raking in profits while everyday Australians are struggling to keep their heads above water. When the time comes to offer relief, you turn your back on the very customers who have kept you afloat.

Shame on you for not doing the right thing.

Zero star rated. We tried to refinance our loan from them to Westpac, it took them 3 weeks but it did not happen. It got delayed by another 2 weeks and then we have to call the settlement agent and they said Adelaide Bank did not give them payout figure. Now it’s delayed for another 3 days. It’s absolute rubbish!! Show details

No app and no rate cut – Don’t go near them. They retired their terrible app and now you can only use internet banking via their site. Making matters worse, they are refusing to pass on the interest rate to their customers. Their website says they are “considering their options”. Just awful

Backwards and not up to date with technology – They have introduced a new SMS authentication system to be able to log into internet banking. I am going overseas and called to ask how to access my banking while overseas without my Australian phone number. The reply was that there is no other way, except for calling them every time and they would provide a code- meaning I would have to make an… Read more

international phone call every time I want to access internet banking, AND they are only open 8am-8pm weekdays and 8am-4pm weekends so they say there is no way of accesing internet banking outside those hours. I'll be closing off my account and finding a new bank, this is so backwards and unacceptable for a bank these days. They said they have received many complaints about it but they have no other system.

If I could give 0 stars I would – Adelaide Bank and tic toc (a JV between Adelaide and Bendigo Bank, now known as Tiimely home) is the most incompetent bank I have ever dealt with. Very poor customer experience. They are completely Bank focused and will try to get you into more debt wherever possible. And their backwards, archaic systems and the longest drawn out processes will… Read more

frustrate you the entire way. They request your entire financial history but dont have the systems to actually receive the files. Team members are incompetent, absent and never give updates or follow up. Forget escalating it. They will ignore you. Staff turnover is high, so in a matter of weeks and months, you could be dealing with 3 or 4 different people. Don't Bank with them! They might lure you in with lower rates, but you'll be frustrated the entire duration of your time with them. Run!

Issues – I write this with deep frustration and concern regarding my experiences with the Bank of Adelaide. It's distressing that I've had to wait for over 9 business days without receiving any communication from the bank. Such lapses in communication are not only unprofessional but also detrimental to the customer's well-being and trust in the bank's… Read more

operations. Moreover, I missed the original settlement date resulting in a financial loss due to additional interest charges. My recent ordeal, where my offset account was locked, and a miscalculation of $6000 in my settlement has placed immense financial and emotional strain on my family. Such errors have a real-life impact; in our case, they affect essential expenses such as my child's kinder fees and necessities like groceries. The unauthorized consolidation of my money from the offset account into the home loan, and the subsequent failure to reimburse the balance post the main transfer to another bank, is, in my opinion, a grievous lapse.

The bank needs to realize the gravity of its errors, as they directly affect the lives of its customers. If anything adverse befalls my family owing to the bank's actions, I must stress that the Bank of Adelaide will be held responsible

Unfair in how they treat customers not as equals – We recently moved our mortgage to Adelaide Bank and as this was not the first time we did a mortgage through a bank I was confused why we have not received any communication from Adelaide bank about account details etc. About a week after the mortgage loan settled my husband got a welcome call from Adelaide bank with his customer number and… Read more

setting up his account and online banking etc. They also told him that I have to call THEM (Adelaide bank) to set up my part of the mortgage for account details and online banking as they only contact the PRIMARY holder??? WE ARE A 50/50 PARTNERSHIP WITH THE MORTGAGE. There should not be a primary and a secondary. WHY only contact my husband and I have to contact Adelaide bank to do the welcome call. And when I did call them I got through to a lovely lady but I had to identify myself with questions about the mortgage (which I did not have answers to) as I have not been contacted or given any details about the mortgage. Does Adelaide bank still prioritise men to women as men earn more???? And that’s why they will only call the primary account holder. Keep with the times Adelaide bank. There are TWO people on this mortgage and should be treated equally. We just signed a two year fixed mortgage with Adelaide bank and I am already sorry we did. If I could give 0 stars I would.

Arc aged bank out to get the most of you – If I could give a 0 star rating i would. High interest rates, fast to pass on rises, slow to pass on reductions. If money transferred between accounts they take it immediately however don't pass it on until 4pm...arc age banking. Would never recommend this bank. Will change banks as soon as possible. Show details

Wouldn't recommend to my worst enemy – There is so much to say so i will limit to some of the major things. I have a loan and linked Debit Card They do not offer apple pay. The phone App is horrible and outdated. You cannot freeze cards when you are figuring out if it was misplaced or truely lost. First time home owner (new build) so obviously unaware of the process. On land… Read more

settlement day, everything had to be sent by post and they wouldn't accept emailed copies. They are always extremely unhelpful and rude when asking for information (even when asking the process for things) and are slow with replies (generally taking the full 10 business days). With payment authorisations, they would review 1 part of a document at a time to put through a payment. Consequently, they sent about separate 3 followups asking for more information. In each case, they took almost the full 10 days between each request (instead of reviewing everything and once and querying all issues at once). They even lost an allocation of funds and couldn't find a record of it (took my builder submitting some of the same and more information plus over a week of AB searching). After 3 progress payments, they suddenly advised that the total contract price had dropped and they needed to revalue the loan and as a result, I was going to have my loan limit reduced and be out of pocket on the build. There was absolutely no reason for this- no loan amounts were changed as evidenced on every piece of information submitted to them. It took a couple weeks for them to realise they had misread information. On settlement, they do not order the inspectors beforehand nor do the offer a bankers cheque. Therefore on settlement day, keys cannot be handed over.

Terrible customer service – Needed a replacement bank card urgently, asked to be sent express post which they did but not until 4 days after intial request. Contacted bank more than once only to be told basically we've sent it and now you the customer can track it . Very little empathy or concern from them, but hostility certainly came across, which was upsetting.

Terrible customer service – I waited for half an hour over the phone. The staff called enzy asked me to provide the surname of my broker 3 years ago, while the first name wasn't good enough to pass the security question. I could not remember so she wasn't willing to help me. My contract with the bank will be finished in a week. Based on the terrible customer service, I am not going with them in any further. Show details

I don't even wanna give them 1 STAR – This bank is so useless, we wish we didn't move our loans to Adelaide Bank. No positive experience from the beginning till the end. We had 2 mths to settle but they had to leave everything till last minute which delayed the settlement. Then our new cards got stolen recently, just 2 weeks after settlement. We straight away reported this to them.… Read more

They told us they will lodge it and launch investigation from their end. We should get our money back after 2 wks. I followed up after a week, they said it's still under investigation waiting for police report so they can obtain camera footage. On 3rd week we were told it has been declined and not going to return the stolen money to us cos we didn't lodge a police report. Hang on! I called twice and none of the customer service advised that that's what we need to do!!! If this is the standard protocol, then they should advise us from the beginning. Not after they decided not to return the stolen fund to us. We are definitely going to report this to AFCA. This is unacceptable!!!

If I could rate the 0 starts that would still be too much – Delayed our settlement despite having plenty of time to organise anything. Waited until last minute to change valuation and ask for more documents. After sending out our offset debit cards without telling us, they were stolen. Olong with the Pin sent at the same time. They also don’t require card activation. After reporting it on the day money… Read more

went missing they told us they would investigate with police, we followed up 3 weeks later and no update. then rejected our dispute because we didn’t report it to police even though they said they would contact police and did ask us to contact police. Do yourself a favour go elsewhere

L O L. What a woeful experience – Applied for a home loan with 20% deposit, full time perm worker with casual working partner (who's been in the same role for almost 2 years). They asked for at least 30 different pieces of paperwork, even questioning where my partner got her deposit from. 2 days out from our home loan crashing on the finance clause - i called CBA in a panic asking… Read more

what they could do. 2 payslips, a copy of our licenses and 8 business hours later - home loan approved and contract paperwork in hand @ 2.2%. Don't even try with these guys, especially if you have a reasonable timeframe.

App just does not work perhaps once out of 30 tries I am surprised no one else has my problem I rang bank blamed me – Adelaide bank App just does not work I was told it was my phone but no trouble with any other apps bank does not care no swipe ability on card

Terrible customer service – Adelaide Bank and their branches (Bendigo Bank) have just the worst customer service. On the phone, they made some assumptions about us and then refused to provide further customer service telling us we had to go into a physical bank complete some ID checking. We attended a local branch who then proceeded to tell us they couldn't help. Had to call… Read more

Adelaide bank up and the two customer service ladies proceeded to discuss us on the phone on a negative way. I won't provide more specific as we are still with them and looking at options out, but I have been when many providers and they have been the worst.

Do not use backwards Adelaide Bank – On hold for 25 min to be rudely told, 'do your research, we are a home loan wholesaler, we refer you to a broker, who refers you back to us'. Seriously, how backwards is that? Lost my business within 30 seconds of phone call. Rang another provider and the ball is now rolling. Thank you Adelaide Bank for showing me how bad you are early in the piece. I should have checked your reviews before wasting my time calling you. Show details

Time wasters – Started our refinancing process with Adelaide Bank in July of this year. The whole process has been non-stop issues. They first switched our application to a higher fixed rate than what we applied for. They asked for a never ending list of documentation that kept growing. Every time you think you have reached the end of the process they think of… Read more

something new to ask for. They promise to send out loan documents that never arrive. You can only get information on the loan progress through the broker which delays the process greatly. If you try to call them directly you are met with rudeness. It is now October and our refinance looks to be far from complete. They have wasted months of our time, continually leaving us and the tradesmen we had engaged in limbo. We are now going with a more trustworthy and honest bank - AVOID ADELAIDE BANK AT ALL COSTS!!!

Terrible don't go with them unless absolutely necessary – Had issues at the start when they failed to put an agent on to complete our home settlement on the agreed upon date causing us to incur fees and delays. I then had simple query in regards to the card attached to our offset account. I referred to it as a debit card and got cut-off rudely to say "its a cashcard not a debit card". I already knew… Read more

this and it had no bearing on what we were querying so was very underwhelmed with the service at this point.

Now it has come to refinance and as I was on a bridging loan our original loan amount was very high. When trying to refinance I find Adelaide has not correctly updated our credit file to reflect that the loan was significantly reduced from the original full bridging loan amount. I contact them to try and sort it out and keep getting sent in circles for them to eventually say I need to contact Equifax myself and they can't help. I went through the long process of raising a correction with Equifax to find that the main part of the correction is Adelaide Bank confirming that the loan amount is the lower amount and that is it. So from this I could clearly see they simply did not want to help me in anyway.

I have had other correspondence with them with incorrect information provided, poorly written emails with many spelling errors and grammatical errors. Overall I feel the bank is very unprofessional and would only use them if I absolutely needed to. In this case I did have to use them as they were the only bank able to do a bridging loan that we needed.

In summary Adelaide will fail you whenever you need anything customer service related done.

AVOID!!! Prevented us from accessing our own savings – We have had 2 home loans with offset accounts with Adelaide Bank for 10 years as well as a third home loan with a different lender. Decided to refinance to access lower interest rates, change to a bank with a local presence and to consolidate loan accounts with a single bank. The settlement date was scheduled with the 3 banks to do the transfer. 5… Read more

days prior to settlement, Adelaide Bank, without our knowledge or permission, transferred all of the funds that were in the offset account (my family’s savings and bill paying funds) onto one of the loan accounts to reduce the principle, where the funds were rendered inaccessible indefinitely. After close of business on the scheduled settlement date, I received notification without any explanation that the settlement date had been delayed 3 days. For a bank (or any business for that matter) to intentionally prevent a family from accessing their money and therefore paying their expenses is more than just irresponsible and shamelessly hostile, it’s criminal.

Do not give Adelaide Bank your business, their lack of integrity is appalling, their blatant disregard for departing customers who’ve consistently done the right thing and helped the company turn a profit is disgusting.

If you are unfortunate to put this bank in control of your money, they will demonstrate to you in no uncertain terms that you are not in control of your own hard earnt savings.

Over 7 weeks to review our home loan application and still waiting – Have an existing home loan so encouraged our broker to stay with them thinking loyalty would assist with the application. The broker has tried to give us updates but is unable to wait on hold for over 45 minutes at a time to follow up on the progress of our application. Show details

Worst mortgage experience ever – Dealing with the mortgate area was an absolute nightmare. They constantly moved the benchmark, questioned everything that we spent money on and made us feel like second rate citezens. The amount of documenation they requested was through the roof. There was zero tranperancy, impossible to contact or reach and no explainataion for any of their… Read more

questions or follow ups. Broker pre-approval came back clear and meeting all their criteria, but when it came to the crunch, so slow and difficult we missed out on our property!!!

Close to 2 months to set up an offset account, and counting – BEWARE, this bank has some appalling internal processes. Be very careful, especially if you are an investor As comparison, refinancing to another bank took lot less than half the time, end to end. This bank has some serious internal issues, among them: - They require a long process just to add an offset account (close to 2 months now, similar… Read more

process with other banks is just a phone call). - They sent me the wrong forms twice. And they were rejected twice, one for being the wrong form (given to me by them) and another one for being digitally signed and not with wet ink (!?). Also they require all paperwork to be posted to them, adding more time. - The calculated the total amount wrongly and now Im facing another week delay.

All of this resulting in not being able to offset interest for almost 2 months! Cant wait to switch banks...

Lazy & appalling behaviour – The worst of the worst experience I have ever had with these guys, their credit management are absolutely trash, kindness way to put it. These guys are not up to the task if by any means your application has more work then their usual standard practice. I repeat do not apply for a home loan with them, stay way clear! They do not want to know if… Read more

your application will require work, for example, their credit assessor cannot at all understand payslips from a shift worker, I can understand a request for more information from employer is normal, 1st attempt sure, 2 weeks pass, 2nd attempt we need more wording in the letter so "We can understand it", another 2 weeks, credit managers come back after 4 weeks; "We cannot accept the shift pay" even though they have a letter from the employer stating he works on a 'permanent rotational shift roster' which they cannot for some reason get it through their head it is called a shift work for a reason! Unbelievable I know!

I am an essential worker through out this pandemic, I have work so much trying to save for my first house that my partner left because of my hard work, but of course the banks don't care about personal matter, all they want to know is $$$$ profit and profit, greedy son of gun.

Honestly this experience with them has been the worse, made me passionately hate banks and their ethics. Do not go with these guys for a home loan, stay away. The reviews you see are true, terrible customer service terrible work ethics. I cannot say the same with Bendigo bank as they are same.

One month waiting time to talk to a lender – The Banks official response (today) to unreturned calls and web site messages is that there is a 1 month waiting list/time for a lender call back about a loan. They obviously don't need the business.

Refinanced in 2019, Amazing experience since – Refinanced our Home Loan with Adelaide bank mid 2019 for our Investment Home which will be for our retirement. They have been amazing from the very beginning and throughout COVID0-19. Reduced our rate twice without us asking, customer service is excellent. Called us 3 times so far throughout COVID-19 to check on us if we need assistance - you cannot ask for a better Bank. Show details

Very stressful experience! – I tried to get a home loan with them. They pre-approved my loan. I then purchased a house on an auction. However, they pulled out after exchanging contact. I am in the middle of extremely stressful situation that I have to organize another home loan with other bank within limited timeframe. I wish I have never dealt with them! Show details

Customer service experience is disgusting – Where has customer service / satisfaction gone. Very disappointing. Called customer service for to freeze my loan during the lock down, but met with a very rude and unhelpful being. Will be looking at other options in the near future. Show details

Absolute waste of time and effort – customer service is non-existent! I was sent paperwork by Adelaide Bank as I was refinancing my home loan with them. The paperwork sent to me indicated a number of areas that needed to be filled in as well as the signing of the document. I rang to get clarity as to whether I was supposed to fill in document or just sign and send back. I was… Read more

told they don't deal with customers, just brokers and conveyancer's and wouldn't tell me what to do - not even if I was supposed to send it to my broker. I asked several times to talk with a manager, someone who could actually give me advice and was hung up on!

Do not waste your time and sanity with these muppets!

Absolutely disgusting! Avoid! Especially if you want to keep your sanity – Refinanced. Hold up after hold up due to incompetency with attention to detail putting asterisks in my name. You have to call and chase up yourself they will not call you when they say even on the same day. Issued mortgage in wrong name after all the issues and cannot access our equity funds. Run as fast as you can! Show details

Thieving from the customer to pay broker fees and bank greed! – Here is an extract of my email to Bendigo Adelaide Bank! Please note I will NOT go back and forth with justifications and accept your excuses about the Bendigo Adelaide Bank, as the service has been deplorable. Why did I get the run around for 5 months to review rates as an existing customer? Is this the standard process for 5 months? Please… Read more

read the public feedback, even though it may not interest the bank or the frontline staff in any sharp or form! Adelaide Bank Home Loans - 1.2 stars from 17 reviews https://www.productreview.com.au/listings/adelaide-bank-home-loan. When feedback is offered to the bank it is disregarded and then again justified the service was acceptable and excellent …. So how do you win?? Hence I will NOT repeat myself anymore as it is a waste of time and very unproductive. Do you truly believe 5 months is a good outcome as outlined in my complaint the detailed facts of this grievance? So, if you feel you are required to send me the same rates already sent by your other staff, it feels further an insult and very offensive.

QUESTIONS - Can I know the following information via email ASAP 1. I commenced this loan with a broker in WA, in 2016, I have not had any contact with this broker, nor the broker ever called me since 2016 ! 2. Is the bank still paying the broker J.P fees?? and is this the reason I am quoted the high rates? 3. I did call the broker J.P last week after 2016, and I received the same rates you sent me? 4. So why do I need to keep this broker attached to my loan and then be quoted high rates? Can I have her removed? 5. The 4.29% rate is very high, the bank is well aware of this? and I am baffled you call this a “discount applied rate”?? 6. YOUR OFFER - 1 year standard rate fixed - 4.29% minus 0.10% discount = fixed rate of 4.19% 7. Broker J.P sent me these rates - Variable 4.29% /1 Year fixed 4.14%/2 year fixed 4.14% 8. Then again you sent me 4.19% as a fixed rate?? 9. The Bendigo bank offered me 4.12% and told me I had to re do a new application ??? so, so unproductive…… 10. With the RBA about to cut rates in the next few months – will the bank pass off the rate cut to its customers or hold on to the next upcoming rate cuts? 11. Can you please reply to my questions, as I have been offered 3 sets of rates from analyzing all the emails sent by your staff…… and the broker!!------------------------------------- Dear xxxx RE: MD REVIEW REQUEST I refer to your email received on 9 May 2019, and further acknowledge your contact to CEO on 14 May 2019. The CEO has passes this onto the Customer Advocate Office, and asked that we investigate and respond on her behalf. The Bank acknowledges this feedback and confirms that we are currently looking into these claims. We expect to issue you with a response to your questions in the next few days. Yours sincerely, Senior Manager Customer Advocate Office