small bank. small minded
they must have changed their serviceability criteria halfway through a credit card application and were unable to reprocess despite being unable to disseminate the information i sent them. Very inflexible - will not deal with again.
Extremely poor service
I've been with the Bank of Melbourne for over 5 years now. Previously they had great service over the phone...
I recently bought an item through PayPal for my son and the transaction never hit PayPal nor the merchant. Oh it came out out of the bank and it was still in pending.
The service I received over the phone was pathetic, put on hold numerous times, couldn't see any issue with the transaction. Even blind Freddy could see that there is an issue if the transaction reads 00000000000000.
So disappointed as BOM were having online issues at the time and this is my issue yo sort out. I'll be changing banks now. Thanks for nothing BOM.
Home loan fail
I've been a customer with bank of Melbourne for over 13 years with a homeloan on my first property. Recently tried refinancing another homeloan I had that was with another institution and was rejected because of 14k of HECS my wife and I collectively have. To reject a loan based on 14k of hecs is ridiculous. I will refinance with someone else and will be taking both my loans with me. I have an excellent credit history and an LVR of 65% on loan to be refinanced and 50% LVR on the other. This is poor form and is exactly how you lose customers. Loyalty doesnt mean anything or common sense.
Do NOT trust any advice from their so called lending manager
We were looking for loan options and Ray Garcia lending manager at 'advised ' us to go into fixed rate loans knowing fully well that the market was in a declining conditons and we learnt later from other sources that this was the worst advice that could have been given to us. Do not trust the banks advice...always do your own research!!!
No hope Bank. Please look elsewhere. Dont even bother.
I have been a customer for over 10 years with Bank of Melbourne formerly called St George Bank and by the way their going they will either be another name change or literally closed down. They cant operate a business this day and age with reviews like these. From refusing to pass on full interest rate cuts from the Reserve Bank to customers. Incompetent staff to overall poor service. My mortgage interest rate is still over 3 percent and when when asked why I was told to leave a number and someone will contact me. Still waiting nearly a week now. When a mistake was made by a staff member on my loan account they still havent fixed it even though Ive been to a Branch already. Its been over a year and a half now since it happened.
Fails to make an effort to return funds.
My solicitor incorrectly deposited funds to a suspense account in the BOM and after 14 days the bank refuses to refund the money.
Bank acknowledges the funds are in suspense yet is not prepared to do anything about it and just apologises rather than return the funds.
Mistakenly increased my rate then corrected it but kept the interest.
Phoned to negotiate a better deal and was given a very minor rate decrease. Fast forward the decrease did not occur and you changed my loan to an investment loan with a higher rate even though it is not an investment and was never stated on the phone. Took over a couple of weeks to fix and was told I'd be credited for the extra interest I had to pay over that time. It's now a few weeks later and still no credit for the stolen interest.
These guys need to be watched like a hawk as they constantly stuff things up in favour of themselves.
Do not bank with bank of Melbourne (WESTPAC)
On the 12th of March 2020 at 13:01, I recieved a sms from BankofMelb.
"Hi George, we recently let you know about your replacement Visa credit card. We will send your card to your preferred address soon.
Activate when it arrives by signing into Internet Banking or follow the instructions we send with your card
Your Bank of Melbourne team."
Firstly I thought it was a scam as my current card is valid thru till 2021
Secondly I did not know about a replacement visa card as I signed up for a mastercard years ago and DID NOT receive any notification before the sms on the 12th of March.
- Verified customer
No answer, I have been calling you all day!
Have sat on the phone calling your call centre numbers all day only to be waiting for over 10mins or more then to get call disconnected from your end just frustrating I know it's a hard time for everyone but when you are trying to urgently reach funds which you can't access because you can't get through to get help just so stressful now I have to go in to the branch which I'm reluctant to do because of this lock down. Not happy!
Applied to refinance my home loan, after asking 3 different people if a guarantor home loan was eligible for their current offer and reading the fine print/terms and conditions. My dad and I both had to refinance, due to the family home being the guarantee for the loan. Went through the entire process of having mine and my family’s house valued, documents submitted, up until the point it made an impact on both mine and my dads credit score - only to be rejected with the reason that they do not refinance guarantor loans. Lending specialist trie...d to blame my current bank, saying they would not release security on my loan, however my current bank had no evidence of this ever happening. Complete waste of time for something that could have been easily avoided. Do not bother and go elsewhere.
What a messed up company! I agree with Slow & Clunky review!
Just trying to organise an extremely simple change to the Section 27 document requested by purchasers solicitors. Been on hold for about 2hrs. Finally get through to some 'overseas call-centre' and am told the same thing time and time again. Can NEVER get to the bottom of the matter, am continually put on hold and never get a time-frame for turning around the request. Absolutely hopeless customer service. IF i could give less than 1 star i would!
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!
- Bank of Melbourne
- 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!
poorest level of service to date for the 2nd time in recent times.
Phone call to Card services Tim that was put on hold on 1/10/2019 and never got back.
Never heard of this kind of service anywhere in the world from anyone
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
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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