Frustrating and plain stupid
Applied for a credit card - for the time being, I’m an existing customer, so they had all of my details. I was made to supply everything again.
Rejected - Reason?
I was told that I was wealthier than they thought....seriously! Can they be more stupid!
- Verified customer
Reasonably smooth home loan refinance
Just refinanced with BOM due to offer of $4k and very good rate 2.94 %. I was leaving Bank Australia who were excellent . I did read reviews before and thought to myself am I trading in my Toyota for a Jeep . Application was done on 31/12/2019 and settled on 24/01/2020. Pretty timely me thinks . A couple of hiccups with settlements team transferring excess funds to closed wrong account but was rectified within 1 business day. Consultant was very goid and even called after settlement to answer any questions. So regardless of shocking reviews on...this site I did have a good experience . I have now refinanced 3 times . One direct > ANZ > bank Australia> now to BOM . All had problems /hiccups . Worst was ANZ , put in a complaint and hot my $450 establishment fee refunded. I would recommend bank of Melbourne . Considering the very low rate of 2.94 % ( must have LVR below 60% ) no fees and $4000 bonus they were worth giving a go and now I do not regret the move .
Slow & Clunky - Stay away from Bank of Melbourne if applying with Guarantor
Traumatic... the word we now associate when thinking of Bank of Melbourne. Their processes are so slow & clunky that we consequently went direct to another lender to secure our home loan to ensure we met settlement.
1. Paperwork post formal approval took nearly 4 weeks to acquire (and included incomplete documents) causing significant delays.
2. Guarantor loans require said guarantor to supply same amount of information as loan applicants, as well as solicitor sign off (all good, except would’ve been useful to know this earlier to set up nec...
Greeting with a smile
I felt a genuine welcome from the moment I stepped into the branch. They were very helpful and friendly and willing to help me. I was opening up a student account for my daughter.
Refinance of Mortgage
Fixed rate ran out with ANZ bank so looked around for better offers & thought Bank of Melbourne were pretty good. Started the refinance process three months ago but soon started to feel like a criminal by Bank of Melbourne questioning us about $10 a week payments to a Xmas club, similar payments for wifes choir membership etc. Had to send many documents twice or three times then after three months they wanted all documents yet again. I asked for process to be stopped & I'd stay with ANZ. Very disappointed in BoM proffesionalism but I will never deal with them again.
Can't build without selling your house first?
Have been a previous customer many years ago, and currently hand land and our house with another bank, looking to build on the land, and then once completed, then move in and sell current house. Bank of Melbourne says we have to put our current house on the market when we apply for construction loan, even though we have 12 months to sell. We don't want to do this as we would be paying rent and storage costs if our house sells quickly! We only want to move once! They don't tell you this on their website, and their rates are higher than others also, I thought being a previous customer would count. as we had a good record with them before!
Dont finance your car with bank of melbourne
Two months we couldnt pay due to financial hardship they failed to inform us that we still need to pay interest for those two months. They let us incur debt over 2 years without letting us know we owed them anything where is the banks responsibility to inform the customer that money is owed. Very poor customer service do not get finance from them. They do not care if you get bad credit!
JASON PHAN ,Glen Waverley Branch,Glen Shopping center 3150
Jason Phan, lending manager at the Glen Waverley Branch ,Glen Shopping centre 3150 , is a young man who has given me back my faith in big banks . His professional approach to solving complicated problems in a simple process has fascinated me. I was seeking an investment loan that I knew was drawing a lot of energy, but from the beginning of the process I had a good feeling that Jason knew what he was doing and was 100% focused on the job. The process of getting the loan took a while, but thanks to Jason, everything was fine from start to the settlement . BOM ,you need more people like Jason Phan, ranging from relationships with people to professionalism in doing your job.
Jason Phan , big Thank you
half star service
Been with BOM for around 4 years with home loan and business account. Just at the beginning when I applied for he home loan the bank lost my signed application(unbelievable)
Normally visit BOM Pacific werribee branch never ever have been helpful. You have to see a specialist on some other day because no one knows how to even open a business account.
Apart from that they keep on closing branches.
I love saying BOM because it is a bomb!!!
Worst Credit Card services
The home loan rate is great, the debit card system is all good, but when it comes to credit card, its ridiculous. My partner is the prime credit card holder, we ordered a secondary credit card for myself. The first time, it took over 1 and a half month to send through the credit card to my postal address. Then the chip was not working, so I called up again to order the replacement card for myself. They advised me it was going to take 5-7 business days, I had been waiting for nearly two weeks, and still not received any cards yet........
Longest waiting times of any bank
It takes and extra day for your wages or other deposits to actually turn up in your account than any other bank. I took this to the ombudsman and bank of Melbourne replied saying they received my money on a Friday (a day later than any other bank) and that’s when it showed on my account. Yet my statement always said it was available on a Thursday. Bank of Melbourne stated that it showed on statement as being available in a Thursday for taxation purposes? This was ok to the ombudsman aswell.
I lived in melbourne for 6 months, and chose Bank of Melbourne as my bank.
I left the country a few weeks ago and had to transfer my savings to my danish bank. When I left, I cancelled my phone plan with optus, so I basically dont have a sim card with me, which i didn't thought I needed.
I'm travelling Asia at the moment. And last week I got my last pay roll. I wanted to transfer all my money at once, because of the fee. To transfer the money i chose Transfer wise, with a bank transaction. I did not have a credit card connected to Bank of Mel...
Worst Banking System
Have recently paid off the partial variable home loan 6 months ago with the 'complete freedom offset' package. The home loan account was down to zero and nothing to be offset. We anticipated this account will be closed automatically as we paid off the acct and leave it as it is due to an on-going fixed home loan with this bank. The bank asked to pay $395 annual fee for the offset package and I disagreed with the payment. The bank didn't provide us with any notification regarding the cancellation of the offset acct so that we don't need to pay $395 for anything! The worst one is they charged the payment directly through the offset account without giving us any notification again! Never recommend this bank.
Credit Card Fiasco
14th of June I applied for and was approved for a credit card in the Bendigo branch, was told it'd be sent in less than 5 business days. Come the 25th of June I rang to find out where the card was, got told it had been delivered, turns out it was the wrong address despite the staff member having my license in her hand when she put my information into the system. Call centre operator said "Sorry mistakes happen" and said I'd have to wait another 5-10 days for the new card to come. As I was unhappy I lodged a complaint about the delay, the Bendig...o branch manager rang me and said they would have it express sent via courier, which would arrive by the end of the week. Here I am on the Monday and guess what.... still no card, 17 days after I was approved for it.
Worst. Mortgage. Experience. Ever
Applied for a homeloan, 74% LVR, very good credit score, previously held homeloan with BOM and were applying for lesser amount.
Got approved in April. Signed in May. Unconditional contract of sale for new property.
Two weeks before settlement, picked up for "audit" and bank wanted liability information resent. Supplied the required info, they kept wanting more. TWO DAYS before settlement, they suspended the loan and advised that before they could confirm "approval", we needed to provide them with information about accounts we held years ago....
Had a terrible experience, went for personal loan and requested not to do credit check and requested to let me know the borrowing capacity, seems like the the person has not much knowledge about the product and processed my application. I lost credit score because of the bank negligence and I have not authorised the bank to do my credit check. I request to remove the credit check as I have not signed any document to process my application. Please be aware and get some in written before applying. I will lodge a case against bank of melbourne.
Housing Loan Application - so much stuff around
I applied for a housing loan. So much stuff around. It took almost three months and then finally rejected. Had to update payslips every two weeks. Had to update bank statements and credit cards. Dropped credit card limits to meet their guidelines. Think they only advertise the cheapest interest rate to suck you in and then only accept a certain percentage. I was not a risk and paid my two credit cards off every month. It should not take that long to accept a loan. Ended up being approved with another bank as the same rate within two weeks. Bad service
Treated badly with our home loan when things got tight.
I've been a loyal customer with the Bank of Melbourne and St George for 27-28 years having 2 home loans in that time. My wife hurt her shoulder at work and the insurer knocked back the claim so she had to take the matter to court. Waiting for her case to be heard took over 2 years and we were struggling financially on one wage with 3 children. We told the bank we were going to sell our property and buy something a bit cheaper so we could pay our loan off and asked if we could go on a plan to pay less each month until the property was sold. They...agreed and all was good until they started pressuring us to sell the house or they forclose the loan and sell our house. We only owed just over $50,000 and our house was valued at close to 900,000 but ended up selling for 800, 000 just to stop the bank forclosing our loan. Don't know why they were so worried when the house was valued so much higher than the loan They wouldn't allow us to keep it on the market any longer to try and get what it was worth. All good now, we have a house with no mortgage and my wife got her compensation from workcover so no more loans for us from the bank of Melbourne.
- Verified customer
The staff in Werribee is not honest
I have a Cheque $500. and I went to the Werribee branch to deposit. There was a lady who deposited for me and after I check on the my internet banking all done. And after 3 days later, I saw in my internet banking took out $500. But I did not why and then I went to The Bank of Melbourne Werribee branch again and I told to that lady and she said: that my cheque is personal so it could be in my business account.Then I asked her refund my cheque for me. You guys know where did she save my cheque. She put in her bag. If I did not know about that cheque maybe she took it for Herself already. That’s why I changed my bank
The reviewer stated that an incentive was offered for this review
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Questions & Answers
Hi i transferd money from my old account (nab) to my new account bank of melbourne on sunday 11th feb 18 and its now monday 12th feb at 10pm and still nothing how long does it take normally to get money in your bank of melb account because this is pathetic
Make sure all your details are in, even you date of birth, who you have loved in your life, who you have met on trains, where you have lived, & who with, whatever you can think of, even if you dye your hair...... They are so fanatical, it's mad.....&.. YOU have to tell them, THEY DON'T ASK You!! They are so protective of themselves, they want to know what brand knickers you are wearing, & when you last washed them.............. Is all that safe? Not always, I'm still waiting! 2wks Late already! Grrrrrr!!!!! Take a list of this with the answers, as they DO NOT ASK YOU!!! GRRR! But, end of the day, the Staff are nice... It's their idiotic system, They should have a list of queries too!
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