Still Very happy after 30 Years of banking.
I have been a BankVic Client for over 30 years and have been very happy with all aspects of banking with them in that time.
Most recently when I bought a used car but was given the lower "New Car Loan" Interest Rates saving me thousands on the purchase of my car.
They have always provided freindly and helpful customer service.
What a ripoff smsf interest rate
We opened a smsf savings account within the last year when rate was over 1%. Now the rate is about .4%. How come Me bank can still give over 1.25% on personal accounts right now. What a ripoff when Bank Vic know that they have you by the short and curlies in the smsf.
I should have listened to friends and colleagues and avoided.
Applied for a loan & was told it would take 5-10 days.. after nothing but silence from BankVic I discover the application had been made for MORE than I'd wanted, it was the wrong TYPE of loan (I wanted car - they applied for personal), they had asked for the incorrect paperwork and the member responsible had resigned without anyone taking over my application.
It took another 6 days to sort out - all up 4 weeks for a loan of $10k.
In the end I had the funds from another bank in 3 days AND with a lower interest rate.
In the process of closing my accounts as we speak. Never again. Had been about to open up accounts for my elderly parents with them - not a chance now. I'll take all our business elsewhere.
Worst bank in Australia
Been with this bank for 10 years, unfortunately bad experiences Im shutting all of my accounts. The customer service is below average. Let’s start with fees. They charge $19 if you have insufficient funds, and they charged me that three times in the space of a week. That’s theft. When I emailed them about it they told me they aren’t refunding me the fee and to basically deal with it. The online bank transfers take AGES about 3 days when it’s much quicker with other banks. Can’t do any international transfers with Shopify. So many hidden fees. Go with ING instead they have unbelievably amazing rates.
Ive been with Bank Vic for almost 30 years and Ive never had an issue, home loan excellent, personal loans, no problem, I actually have no need to attend a beach as their online access is great. Customer service top marks.
Very easy to use.
I have been with bank vic for over 20 years.
the bank has always been reliable and easy to deal with.
Customer service is very good. The only negative is the small amount of branches, but as i don't frequently need a branch, that is not an issue for me.
Poor salary package service
Has been using BankVic's salary package service over 6 months and it's very disappointing. The salary package admin fee is much more expensive than other SP organisations. Plus, they also charge extra money for claims, which I have never heard from other salary package organisations. This bank is definitely not that caring for their clients as they say.
Great rate for SMSF Savings (Given the Environment)
The online banking portal is difficult to navigate and I cannot speak for security. However, I discovered BankVic because it is one of the best rates for a no strings SMSF savings account.
Exorbitant fees and good luck getting home loan
Insufficient funds fee is $19 . You are literally taking a ridiculous amount of money from people who are struggling for money! Could not get a home loan through them the second time either even though we paid our home loan off in 3 years !? Apparently too risky... righteo! also it was a big struggle to get them to approve the first one. Don’t bother too much of a headache with them for that stuff.
Have also got stuck at shops a couple of times because their card service and online banking were down? No payments on eftpos would work despite fu...
Member since 1974
I have been a member of Bank Vic since it's inception in 1974. I have found them to be terrific, with excellent customer service, competive rates, easy online transactions. I also like their safety protocols which sometimes can be annoying but I'd prefer that to having unauthorised transactions.
All good with us.
Do not accept a recepit for a bank transfer from this bank! They will hold the funds for 24 to 48 hours before passing it on to the transfer account. Every other bank will send the funds withen 1 hour to 4 hours, yet Bank Vic refuse to pass on the funds and hold it as long as they can!
This will be the last time I will accept a transfer from Bankvic without cleared funds in my account!
Fees, customer service, online services & staff; all poor!!
New member to Victoria Police. Signed up and non stop issues since. Major concerns.
1. Card arrived with no pin. Advised cards are managed by third party and they have no control.
2. Funds transfer to my bankvic account with name spelled incorrect, took 1 week of me calling for them to "find the money" which was in a holding account. No notification to me, why? Because the holding accounts are managed by a third party (seeing a trend?)
3. Direct debit was $3 more than available. Debit declined and charged $19. All other banks abolished this fee...
Rude, condescending and unprofessional. Just read others reviews and so sad to see they have had the same experience. Bank vic Have clearly dropped the ball from when I paid off my first home loan with them in 2005. Clearly no idea they were about to pass up on a 50k+ interest stream which we haveheld for 10 years. Gave the manager a polite opportunity to rectify the situation and they made it worse by not phoning when they said they would. Try lendi or just about anyone else. I have been around long enough to know that you start as you wish to continue. If this is the start I would be petrified in a business relationship with this bank. Steer clear. Wow just terrifying bad
Poor or should I say ZERO Customer Service
I contacted them on 136373 to enquire about membership and to open a bank account. I was #1 in the queue and almost 20mins had elapsed, I was still waiting for a consultant to pick up my call! Are these guys incompetent or complacent?
What is going on at BankVic ????????
15 years with Police credit/BankVic.
Under Police credit amazing service simple products.
Have got two loans through Police credit smooth no problems a great experience.
Now we apply for a third time with the change to BankVic and something just went a little Pear shaped.
The Customer service or should l say one particular staff member is disgraceful.
Call more then once no return call.
Cain’s of 48 hour approval completely in this case misleading.
Its not hard guys just the basics is needed.
Maybe having older staff with an ability to communicate on some sort of respect would help a lot.
Come on guys pull your socks up.
You should remember the good old days.
Used to be great
BankVic used to be great when it was Police Credit and when their head office which incorporated a branch was in Carlton with tons of parking.Now it is just an office somewhere in the CBD , no branch and the other branches are in hospitals with expensive parking , one in the west side of the CBD with no parking and one way out in the eastern suburbs.
Avoid this bank
I informed them I wanted to cancel a credit card and get a payout figure. Was then told they couldn’t supply that and had to wait for the statement after the 15th of the month. When I got the statement, I paid out the credit card (which took 2 days to process) then called to cancel the card. I was then told that I couldn’t cancel the card till the statement next month because I would have to pay the interest from when I originally requested the cancellation to when it was finally processed after the statement came out. This bank would do anything to make a couple more dollars out of you.
When you transfer money online, yes online, no people, no salaries, and you get the account wrong be prepared to pay a fee .... for what!!! I did all the work. Another dishonest organization to add to the list.
I accidently typed in an incorrect number on an account transfer ONLINE, no staff, no electricity, no salaries being paid and got stung a $14.00 dishonour fee. What did they do?? Let's just add another dishonest bank to our list. And for a measly $14.00 my accounts are going elsewhere. It took you longer and cost more to post out the letter telling me about it. You're pathetic!!
Lack of security and customer care
I choose banks based on their products, customer care & lack of fees, after all, why should we pay to have our money in an account! This lead me to a credit union - BankVic (Formerly Police Credit Union) back in 2005.
Recently however, I have been ripped off by their lack of security when my credit card was used without authorisation. I had 2 different credit cards used, one with a "Big Bank" and this one with BankVic to purchase in game credits for an electronic device.
The next day, Big Bank raised these transactions as suspicious and ...contacted us to asked if we had authorised these transactions. Because we had not, they put a stop on them and refunded the funds. BankVic on the other hand did nothing and we had to alert them to the fraudulent transactions. Because we knew the perpetrator, they said this was a "friendly transaction" and therefore would not be refunded! Of course, none of this is mentioned in their policies, just "have peace of mind with out security measures, your money is safe with us and unauthorised transactions will be protected 100%" - huh! absolutely false advertising! So, two banks with the same set of data and circumstances, one protects customers the other (BankVic) does not. Our family will be closing all our accounts and transferring all funds to a more satisfactory bank, I suggest you do the same
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