Good everyday account
Good everyday account great how theres no fees as long as $2000 a month goes in. I only have a savings account with them and quite happy to recommend getting one. Only problem with it is when my pay goes in or any money it takes a while for it to clear.
11 years a customer no longer!
I have had 2 mortgages & multiple accounts with Bankwest over 11 years. I have only had issues with branch staff over the past few years where they appear to have recruited a 'different bunch of people,' so I avoided the branches and did all my banking online and through bank mail.
Recently I sought approval in writing from Bankwest that I could deposit an international cashiers cheque with them. My lawyer overseas prepared the cheque and when I went to the Bourke st branch I was abused by the counter staff after I told him that I had confir...mation Bankwest could deposit the cheque when he had told me the cheque was 'invalid.' There is much more detail I could go into here but the fact is the branches staff are uneducated. I was holding a $150 000aud cashier cheque & they refused to take it. The manager told me Id need to contact the call centre to complain. What wonderfully professional service from a bank (cough). The call centres escalation process was 'we can't over ride what the branch have said'. Needless to say no one acknowledged Bankwest had given me written confirmation that the cheque would be accepted. Thankfully my $150k cheque and its $200k sister cheque are now with NAB. Commonwealth were also willing to accept the cheque. I will no longer bank with Bankwest- when push comes to shove they do not hold up. Take your business sand money elsewhere.
Behind the times.
I've been with bankwest for 3 years and have not experienced any bad experience with them.
The only thing I dont like however is how slow the bank is to adopt new ways of banking. While all the other banks are chugging ahead constanly progressing and improving their services.
bankwest remains stuck in the past. One such thing is NFC payments which other banks have enjoyed for years yet bankwest has still to implement it after 3 years of it being requested.
Besides the incredibly slow adoption of new ways ( or not at all) it's an okay bank.
Some good features
Good bits-can repay without direct debit. Flexible as can pay in part each week my monthly payup.
Bad- I lost my ATM card and cant phone them at all as can get through to them .And cant report it on their site.i'm going to have to Actually go to A branch
Have been with bank many years. Had some issues in the past. Recent issue slow in getting dealt with however ended up being my error and I owe the bank an apology in this instance.
Overall I am happy with Bankwest. I dont really understand the ins and outs of the interest rates. They don't tell you when the rates go down or up (for savings accounts anyway). And they seem to offer better interest rates to new customers than existing ones which I find to be really unfair and quite sneaky (considering they know it is rare to change banks). But I will stick with them for the time being and hope the interest rate for my savings account increases as our economy regains strength.
Started off with an awesome interest rate. Easy to link account with another account from a different bank.
Interest rate on savings account has been drastically reduced, yet the interest rate on my credit card has ALWAYS remained the same.
Too long for credit card applications
Only after just applying for a credit card with bankwest, it has been 5 business days for them to process it. Although I had an immediate response, they wanted conformation of income (no other credit card i had applied for asked for it) I faxed it to them on the same day that they asked for it. Monday, I received a call saying that they received it, and it was in line to be processed that day. Tuesday: received a call from Bankwest saying that they were processing it then, although it had to be referred to a different department and had to wait...until Thursday for a response, with still no card being issue. Waiting to see what happens, I hope Bankwest don't make this entire experience a waste of time and deny the application so late. 50/50 customer service, sometimes hard to understand and different stories from each representative. All mail needs to be sent to WA, no service stations in other states, when I'm in Victoria, it takes to long to process applications when forms and applications need to go all the way to Perth!
I was attracted to a Bank West savings account because of high interest rates and no fees associated with the account. At first it seemed good until i checked my statements. Some months the money i got on interest was lower than a previous month when i a) made no withdrawals and b) made deposits. I called and the lady told me they don't count interest on public holidays and some months interest is counted over 5 weeks, others 3 weeks. Fair enough but i think i will look for a different account i can keep up with. Hello UBANK!
Easy to open an ac...
I like the idea of being able to use a service for free although in this case i needed to have $2000.00 deposited in my account every month. Although i'm not required to maintain it, it would have been better if deposit requirement was reduced to $500.00 or better yet not required at all. Using my Bankwest debit card for balance checking or withdrawals with another bank without service fee is likewise great. I just wish they would include more banks so that I am not limited to only 1 other bank.
Transaction fee free on debit account
Requires deposit of $2000.00 every month
We have had the account for 2 years and although interest rates have dropped dramatically, as with all banks, we are happy with the service. They don't send out a lot of statements which we don't require anyway.
We chose Bankwest to open our child's saving account due to their competitive interest rates and no account keeping fees. Some branches have coin machines which takes the hassle out of depositing large 'money box' collections.
Not all branches have a coin machine. They only have a couple of tellers on service at a time, if you get stuck behind someone with a more complex banking need it can be slow service.
the only saving thing is the childrens bonus account. the adults side is quite dire. they have set up direct debits for my mortgage to come from an account with them and failed to tell my old bank the mortage request was cancelled or even cancel it from my old account, resulting in me getting charged from my old account for over drawing and twice as much money going into my mortgage! i had to go into the bank to sort it out as they wouldnt do it over the phone. also the pay any one on line amount is $1500, if you go into the branch to increase ...it they tell you to ring the on line people, ring them and they say increase it on your account, go on line and there is no option to increse it. the high interest account locks your money away for another period as there was no one about to 'tell' i wanted to withdraw it and no one rang me back with in the allocated 10 days time, bearing in mind it took 4 days to notify me i had 10 days! childrens bonus account is excellent interest rate, 10% low pay anyone maximums on line, staff mistakes common high interest account automatically locks in for another year for you unless you ring them in 10 days once it has matured
High interest rate on saving was the main reason I opened an internet based saving account with Bank West. At that time, Bank West hasn't expanded their branches yet to the Eastern States. All the application was done online and by post. One day I got a problem to access my account online, and I called the customer service call centre. The call centre was unfriendly and rude. I hoped Bank West could improve their customer service over the phone.
Since Bank West has expanded to Eastern States and opened many branches, I have not visited their branches yet.
Relatively high interest rate (saving)
Poor and unfriendly customer service (call centre).
I took out a home loan 'package' with BankWest in 2002 (included transaction account, cheque account and credit card). Was reasonably happy with the service and products. However when the reserve bank lowered interest rates by 0.25% recently, I rang BW and asked if the rate on my loan would be reduced. They said it would soon be reduced, but by just 0.05%!!! The best alternative they could offer was to switch me to a new 'product' with a rate 0.17% lower but the catch: double the annual fee! And I was going to have to pay another loan applicati...on fee of $600. I wasn't even asking to borrow more money. They are trying to con me, so now I am refinancing with another lender. Quick to help when I had a problem with a shop over-charging my credit card. Reasonably good rate on my home loan (until recently). I hate the annoying overly friendly and chatty pre-recorded voice that answers when you ring their customer service number. Clunky online banking interface (although this was improved somewhat in the past year). And the biggest con of all: I had paid someone with a cheque and the payee drew on the cheque about an hour before I had managed to transferred the funds from my other BW savings account to cover it. BW charged me a fee of $45 for the 'privilege' of giving me a 'loan' to cover the cheque (even though they are holding the money that would have covered it in my other account anyway); and then they charged me interest on the 'loan'! The effect of this was that when I transferred the amount to cover the cheque it turned out to be not enough to cover the interest as well, so then they charged me interest on the interest!! Bastards.
Customer service has been good and its been bad, mostly good though. Like the kid saver account I can recommend that one.
The Kids saver account is excellent with 10 % interest if you stick to the rules.
I am still with them despite them giving me 2 loans, yes 2 loans for the same property, 2 seperate account numbers for the same home. Yep they recond I borowed 560k on the same house went it only cost 400k.Still they wore there stuff up with no fee cost to me, just a little panic.Hey they also lost my title they were storing, took 5 days to find.
I have found them very good when it comes to investing money there staff over the phone are quite help full. The internet acc lacks a little no bells or whistlesyou cannot send direct fast transfer like most banks. But they are willing to work a bit harder on term deposits other banks just don't want your bussiness were bankwest really excelled. But I guess its who you get. I would be conserned doing other banking due to lack of branches lots of bussiness centres thou. But ordinary cust can't go there
They offer good interest rates online
Not many branches most are for bussiness
Questions & Answers
With homeloans, As Bankwest is a subsidiary of combank . Will title search show mortgage CBA or Bankwest ?
Conducted a funds trace with Bank West over a month ago and to this date they have not made any attempt to reply. Funds were placed into one of their customers accounts in error and it appears that they are hiding their heads in the sand and not wanting to have the funds returned to the rightful owners
So... where is the question?
What is the reply paid reference and address I should use to write to BankWest to attempt to resolve ongoing disputes?
ask the bank
BankWest is the most secretive and obstructive organisation I have ever had the misfortune to deal with. I have asked the bank on a number of occasions and been fobbed off. This bank has lied, obstructed, misinformed on a simple attempt to have an additional card issued. Every time I have followed the directions given the goal posts have been moved. STAY AWAY FROM THIS BANK.
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