Worst bank ever
They contacted me after being with them for 7 years saying my ID provided had expired and if I don’t provided new ID they were going to freeze my accounts. When you try and change banks they make it very difficult to leave. It’s like being in an emotionally abusive relationship. If I could give less then 1 star I would. I do not recommend anyone go through this bank
bankwest are Liars
Had a loan with this bank for years without ever missing a payment and when I ask for a new rate (as I can get a much better one from all other banks) they tell me I have an old loan rate that should not be used and promise to reduce it.
Because I said I will change banks if they do not change the rate they then closed all my accounts and state they refuse to deal with me again.
applied for a loan on the 9/4, the valuation happened a week later and we though great things are moving along, then one request after another for updated this that and the other, each time they said, yes that everything we need but NO they then needed something else, finally on the 6/5 they said, we have everything we need now, wont be long now, by the 12/5 and several calls in between I got a variety of updates ranging from,* all is good just waiting for final approval,* some of your statements are missing months,* we've sent info to your br...oker that we are waiting on, *we cant see where the savings come from, i mean it just didn't end with the issues, who know's what's actually going on with our loan, we still have no outcome and my last call to the bank the response was, we have no idea when it will be completed, great service, amazing and you wanted to charge over 3% interest rate, your having a laugh Bankwest and Im pretty sure that despite the numerous hideous reviews of your service you still wont change a thing and why would you, you're still making enough money to not care less.
Bankwest delays releasing home loan when refinancing
We have a home loan and bank accounts with Bankwest and are in the process of switching to Bendigo who have been fantastic. Bankwest declined our refinance application because of one credit card late payment fee (which turned out to be inaccurate anyway) so we switched to Bendigo. Everything from Bendigo's perspective was ready to go a week ago and Bankwest advised that they would release the loan a week later (1st April). We are now told that they cannot release it until the 13th April because of their 'payment cycle'. Surely this is not in li...ne with the royal commission's investigation into the banking code of ethics? Have been on hold to discuss for over 20 minutes. Has anyone else had a similar experience? I am about to contact the AFCA and will provide their feedback! Latest: 07/04/21 Bankwest advised us that the issue was with our new bank. We contacted them and they investigated. 08/04/21 After further investigation, it transpires that Bankwest is in fact the organisation responsible for delaying the release of the home loan.
Home loan FHO
This was the worst customer experience I’ve ever received in my life. Like someone said before “if you care about your mental health do not come to Bankwest”!!!!!!!!!!!!!!!!!!!!!!! I applied for a home loan with Bankwest and they rejected it. The guy that was handling our application name Le-on lim was terrible!!! When I first went to meet him he provided us with information we gave him all our details and lodge the application. The application took a long time. Le-on was near impossible to get a hold of. He was always busy and never picked up ...his phone. They only way to reach him is if he reached out to you and wanted a document. He never gave us updates on our application I was the one always calling Bankwest and finding out updates about our application. The night before the application was due he sent us an email! He didn’t even have the decency to call to say that more documents was needed....why would you wait to tell us this the night before finance due date???? When the due date came for our finance he said more time was needed....lies! When I called the next business day they told me that the application was denied on finance due date! To make it worst....Le-on went on annual leave without telling us anything on the day our finance was due so we could not get a hold of him. He never communicated to us he was going on annual leave, he never told us our file would be handled by someone else. He just went away our file was handed over to someone and when I called the person to get updates on our application he didn’t even know anything about our application he said to call him back in about 3 hours. So when I did call back he said the application was in fact denied but he couldn’t give me a reason as why the application was denied. No one ever reached out to me to follow up. I’ve gone with commonwealth now best experience ever. STAY AWAY FROM BANKWEST
Bankwest to Skankwest
Beware! Expensive rate for long unanswered phone queues. Worst decision I ever made to switch to Bankwest! Totally dissatisfied with climbing rates and declining service service. Do not trust!!!!
Go straight to the parent bank (Commbank)
Down Down Focus & Intergrity is DOWN
Have/Had been with Bankwest for 15+ Years as a loan customer, and over 20 years as a savings customer.
They were good early on (possibly when owned by HSBC), competitive and helpful. Even facilitiated a bridging loan!
THEN they started ignoring customers such as us, leaving us on a Home loan product that was not market competitive. We rode that out.
Since then they have moved rates more inline with a profit driven organisation, not in line with or RBA or CBA (their owner).
They are now not only non-competitive (rate wise) and will not revisit ...
Sound customer service great rate
Recently I had to discharge my home loan from Mortgage House and Bankwest never gave up on me as I was deciding. Anyway because of their input and know how and guiding me through the process I went with them on a fixed rate home loan. The changeover was effortless.
Watch out when you go to settle
I bought a property recently and day before settlement had to come up with $275 ? No actual reason someone in Bankwest stuffed up lucky my conveyencer NOT BANK WEST helped me out or I would of had to pay penalties with vendor? They refunded the money I had to pay in what they said was an apology but not good enough one thing after another with bank west I think I’ll be looking for a new bank soon?
Warning Beware Bankwest If You Are Operating Under An Enduring Power Of Attorney (EPA)
Bankwest revoked my legally binding Enduring Power of Attorney without first ensuing that my husband had the mental capacity to revoke it. Bankwest legal dpt advised the branch of what was needed & what they would accept
in order to revoke my EPA .The bank then gave my husband written wording to go & copy & sign & then return to them.This took him many hours sitting in the same shopping centre as Bankwest & i presume they supplied him with the paper & pen to do so.When i told the Bankwest branch officer that they could not do this i was tol...
worst bank i ever come across. Please do not take any loan. Beware of this bank.
I had fixed rate home loan (interest in advance) back in June 2017, When my application was approved in Apr-2017 with the rate was 3.99%. On the day of settlement they increased the rate by 0.35% on all fixed rate home loan. Now there was no RBA rate hike or no changes from any other bank but because they advertised lucrative rate to attract the customer and once they got sizable amount of loan from different customer with interest in advance they took the advantage of all customers with increased rate. it cost me lots of money but i didn't ha...ve any choice as the loan was interest in advance and it had to be settle by end of June. Please note that interest in advance home loan normally paid by the end of June so customer had no choice but to go ahead with that. i would strongly suggest to keep yourself away from this bank. I had no issue if RBA had increased the cash rate and in a response BANKWEST HIKE the rate but it was not the case. I believe BANK WEST is misleading customers.
Worst bank ever
I have my home loans with Bankwest, they are the worst bank I have ever delt with, I have a 3 year fixed rate, and due to the banks poor service, added stress and high fees I wanted to break my fixed loan and get as far from them as possible, how ever I called Bankwest to find out the break costs which was over $15.000, I have reported this bank to the banking ombudsman 5 times, for a range of different things but the banking ombudsman sided with this disgusting bank, unless you want high fees, poor service and added stress stay away from this horrible bank
Be careful shop around before you lock yourself up
Been with Bankwest since 2001 and was happy until I applied for my first home loan in 2011. First issue was in the first week, they had typed my full name incorrectly, and I had to refill the accepted loan forms, leave my work and drive visit their branch in vectorial park in WA. Interesting this had happened 4 times and I again had to refill the forms etc. and ask the bank manager to make sure it won’t happen again.
I was in a high rate above 5% due to my small savings, but after I was 50k a head of my repayments they never offer my a better ...
Permanent residency is not enough
I found them being discriminatory regarding the permanent residency criteria. I got rejected because I am a permanent resident through partner sponsorship. I am a full permanent resident (801), not even a temporary one! Their website claims it's sooo easy to apply for a loan, and only mention the PR requirement, not the type of PR.
Do not conduct ethical practices
Before disbursing any amount towards any progress payment regarding construction they want customer to pay any variation that they opt separately regardless of that variations was actually delivered on not. If bank themselves doesnt pay themaelves without invoices then why they want customer to pay for something that was not delivered. Is it ethical? No sense at all jungle rules they apply for customer purely unethical. Before settlement of lan loan there was shortfall of around $30k from bank and it got fixed only in last minute before they realised their mistake. Unbelievable
Questions & Answers
What is the Discharge of mortgage fee charged by Bankwest?
Sorry I don’t know as I discharged from Mortgage House and that was almost $1500 + from memory
I have been approved a house loan through BankWest, how long before a contract runs out after you sight?
It will say in your letter of offer (provided it is the actual approval, not pre-approval). There is a sect ion that states how long you have to accept.
As there are very good rates out there at the moment, am looking at refinancing away from bankwest. How much is their discharge fees?
Please refer to their website.
Hi Zach, there should not be any loan discharge charges if the loan was taken after 2011. Although there will be few Government charges like Mortgage registration /de-registration $1 14.00 etc. Best to call the bankwest loan division and ask them for charges in black n white. The best I could see online was 3.99% but I'll be wary of all the application charges and other charges that are included. Please feel free to ask me any questions and I'll be happy to help. I will be very cautious next time as this experience burnt me pretty good.
I paid off my BW Premium Select Homeloan last month.
Fees were: (1) Mortgage Discharge $300 (2) Legal Fees $25 (3) Bank Cheque $7.50 all payable to BW and (4) VIC Mortgage Discharge Rego $114 (Vic Gov Fee)
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