Incompetent and unreliable
We recently purchased our first home and got the loan through Auswide. Our Broker recommended them purely based off the low rate. They are a new bank and so he couldn't comment about their reputation.
Now, three months later, we are already looking to refinance.
Auswide bordered on incompetent during the loan approval process. They kept forgetting to ask for verification documents and had to come back to us multiple times asking for more. They lost our contract at one point (for three days) and we almost missed the settlement date. We only got the loan approved one day before settlement and this was entirely due to their lack of ability.
Within two week of commencing the loan we applied for linked credit cards. Two months later I've heard nothing further about this application, despite trying to follow up twice.
Their online interface is very poor. Previous transactions will randomly not show up in your Transaction History (and the ones that are missing are different each time!). They don't have any capacity to have an SMS one time password to multiple people for joint accounts, so you have to rely on one person doing all transactions (I enquired about this but was never contacted).
The straw that broke the camel's back was their unannounced and hypocritical interest rate rise. Back in October I read this news article (http://www.theadviser.com.au/breaking-news/33287-bank-announces-rates-changes) in which Auswide's Managing Director derided the big banks for their recent unjustified interest rate hike. A month later and Auswide have made the exact same increase of 0.15% - this is despite the fact that the rate increases from the big banks were actually in response to laws on investment loans limits, which don't even apply to Auswide! The worst part? They didn't even post a letter notifying their customers until a 4 days after the rate kicked in! They could have at least sent an email!
Auswide were hard enough to deal with before they had our business. Now that they have it, they just don't care. If you value customer service and reliability, go with another provider.
Can't be trusted
After being lured by a sweet 3.99% interest rate we soon discovered that Auswide can't be trusted. After increasing our rate 8 weeks after settlement to 4.14% they were still advertising for new customers at 3.98%. Application process difficult due to limited branch network, and overcharged for valuation fees and strict lending criteria. Online systems seem to work ok . Do your sums thoroughly and don't be tricked into low intro rate.
International money transfer
Worst service I've ever encountered mistakes made have been charged to me over 10 days for money to arrive and it was less than i sent ZERO customer service closing my accounts after being a customer for over 20 years disgusted with the whole bank
Poor service of existing customers
We have had a home loan with Auswide (previously Widebay) and consolidated our car and personal loan from other Banks to Auswide. We recently asked for a 7,500 loan to buy a used car. A drop in the bucket in comparison to what we already had with them. I was amazed at their incompetence and lack of interest in servicing an existing customer of many years. 4 weeks later we still didn't have full approval. We jumped through all of their hoops and then without fail they would then need another document, etc. before they could approve. 4 weeks!! We had to change used cars 3 times in this period! After asking for yet another document that should have been asked for at any stage over the 4 weeks prior, we had enough. Walked into ANZ and had the money in our Bank in 3 hours. Needless to say we won't be staying with Auswide and do not recommend them to anyone.
3 months to get internet banking, 2 months (and counting) in trying to close loan accounts
The short and sweet:
Use another bank and fire the mortgage broker that recommended this bank
3.99% seemed sweet at that point of time. However, the list of things I'm unsatisfied with this bank seems to grow with every contact I have with them. To be fair I'm using this bank while stationed in VIC so people in QLD might have a better experience.
1) The loan application process was terrible, and they still had me trying to submit verification documents the day before settlement date and this was even with help from a mortgage broker!!
2)Separate applications were needed for internet banking and bank card
3)NO bank details was provided to me after settlement date, i.e. no customer number, no bank statement etc. so for quite a while you're just left in the dark not knowing if there's an issue and you have no way of identifying yourself to the bank for any followups
4) Issue was resolved ONLY when the loan was about to go on default in the bank's books and the bank contacted me... only then did things get rolling. All up it only took a "short" 3 months to get internet banking up.
5) At this point I'd noticed that the interest rate is being charged at 4.2% while they were still advertising for 3.99%. So only the first 2 months enjoyed the sweet 3.99% interest rate. Dubious at best.
6) Finally got around to being able to refinance the loan with another bank,and Auswide bank has been obsoletely painful through this process, not recognizing attorney I've provided to the lawyers, therefore needing me to be involved in asking for things from Auswide, asking for authority forms but not providing the right ones, requiring 21 days for processing (and therefore charging me another month of interest), not transferring any outstanding amounts to the new bank (which i'm currently chasing up). All up another 3.5 months in trying to refinance the loan.
Peanuts and monkeys
Great rates, but that is where the good part ends ..... nothing about this lender makes me want to deal with them again. I thought I had dealt with the worst in the market, but this interaction has taken things to a new low.
Love my bank
Wouldn't bank with anyone else, opened my first bank account with wide bay, now auswide, couldn't be happier. Always so helpful and convenient.
More services than the Big 4
Auswide offers the best customer service with staff willing to help. There are more services than the big 4 banks.
Always been great
Over the years we have had home loans, term deposits and everyday banking for all our family. Never had any problems and always good personal service.
I found the services provided suited my needs.
When I had a home loan it gave the option of an offset facility. When I wanted a term deposit you had good interest rates. I have had trouble free general banking for more than 20 years.
Great Everyday Banking
Although I used to be regularly in the branch, I use online banking a lot now as I dont live in town. I find it very easy to use.
I have always found the staff to be helpful and friendly, even recognising me when I went in to the local branch. I much prefer dealing with the alternative Auswide Bank, to the usual big 4 banks. I like that I can phone up with a query and have it dealt with right then, and I am speaking to an Australian, or someone who is working in the bank in Australia.
I use the Nambour branch to deposit foreign bank cheques
The charges to process a cheque are the best I have found, the girls in my local branch are friendly and very helpful.
Best bank ever
Very happy with service and help over the years thank you Auswide. Kind Regards Terry Helion
The staff are always polite when i phone.
I have been a customer of this bank since its early days as Wide Bay Building Society. While it has changed since those early days, th e staff helpfulness, friendliness and banking efficiency has remained unchanged or even improved. Intend staying with them.
Service good and helpfull.
No problems and staff always happy to help with banking or other things like filing out forms that have to done
Always willing to improve
I have been dealing with the same staff member for the last 20 years which in other institutions is very unusual. I have never had any problems and would highly recommend this bank which I would not do for any other bank. If only the interest rates were better to assist with my retirement / term deposits. Thank you for years of service.
Not happy Morayfield branch closed not convenient for me, having to drive 30 minutes to new North Lakes branch now.
Fantastic bank been with them for over 10 years
Ive been dealing with this bank since school, never had any dramas always willing to help. They make opening accounts easy even sat with me to make sure i was getting the most out of my accounts and have saved me money by changing over my accounts when new ones came available. Hopefully over the next few years they can takeover my home loan
Happy and laughing
I have my home loan through Auswide Bank, they are competitive and were extremely helpful in all aspects
all my banking needs are through Auswide Bank.
keep up the good work.
EX Bundy resident
Not sure about the new name
Still do not recognise the new name. Still think of it as wide bay. Probably an age thing. Staff are very good.
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