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BT Financial Group

BT Financial Group

1.3 from 102 reviews

See the Best Retail Funds in 2019 as rated by Australians on ProductReview.com.au.

Reviews

Review distribution

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89

S. Ringshaw

S. RingshawMetropolitan Adelaide, SA

Money grabbers

published

I was pressured to switch my Life Insurance to BT, (Westpac Insurance services) that was 5 years ago. I receive one letter a year from BT to advise my premium is increasing and nothing further. Since switching in 2014 my premiums have doubled. I have received a letter from them today advising my premium has again risen by nearly $70.00 extra per month. I am now looking for a new insurer, I can not afford to maintain this policy. Nothing but money grabbers!!!

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Yash

YashSouth East Queensland, QLD

  • 3 reviews
  • 3 likes

Worst performing super not surprise they have been sued due to dodgy practice

published

Dodgy super fund backed by big bank. My super has performed worst in last two years thanks for the ongoing BT scam. To my surprise,i was charged $200 exit fee. Stay away from this dodgy super.

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Gerard Carrasco

Gerard CarrascoGreater Melbourne (Outer), VIC

  • 2 reviews
  • 2 likes

Non Transparent Company

published
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Please read this before signing any policy with BT Life or Westpac Life Insurance

published
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Lisa H.

Lisa H.Sydney, NSW

worst fund ever - avoid, avoid, avoid!

published

I had my funds in BT since 2010. I did not realise I was on a no-growth fund. I saw a financial advisor in July and he was shocked to see that there had been no growth and no interest paid since then. I wrote to complain to BT and the response was... you should have known, you chose a cash fund and when the National reforms happened, we deemed that you chose this. So the outcome is, for over 10 years they've had around 250k and all my contributions from employers, and zero return. None. My retirement savings have been used for their benefit all this time and they gave nothing back to me except fees. Criminals. I have taken them to AFCA. Avoid this fund at all costs, they will not help you.

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jana

janaAlexandria

  • 9 reviews
  • 9 likes

Poor service

published

A fund was set up for son via employer with BT what a nightmare, each time you speak to them they have lost original information or not on system, Been set up several times and each time have to call them as not in system. Very frustrating and time wasting especially for low income funds. Many better providers available to assist , choose wisely.

Customer Service

Adam S.

Adam S.Eyre Peninsula, SA

  • 2 reviews
  • 2 likes

Criminals!!

published

They promised me that my superannuation would be paid to my bank account almost 2 months ago, I was told it would take 5 business days. I'm withdrawing my money from BT Super as have constantly messed me around with two separate claims with a total of 7 months spent waiting for either very simple services or very simple answers.

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Ben K.

Ben K.South East Queensland, QLD

SuperWrap fees are excessive

published

On a balance of around $450,000 I was paying around $3,000/year in account keeping fees on BT's SuperWrap plus management fees on underlying funds.

I switched to a low cost industry fund that was simpler and had all the features I wanted. The account keeping fees for the same balance were less than $400. Get your money out of these rip off funds into industry funds.

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Michael Duggan

Michael DugganGreater Melbourne (Metropolitan), VIC

  • 13 reviews

Spoke to Mitchell who was REALLY helpful

published

Been with them for 7 years and suddenly realised I am on a cash option, spoke and they were very helpful. So I have to confess I felt much better. Was a bit about not getting the callback I had asked for but to be honest not much of a wait to get thru.

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John R.

John R.South East Queensland, QLD

They're a very dodgy company

published
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Maurice G Boyce

Maurice G BoyceSydney, NSW

  • 27 reviews
  • 7 likes

What is Happening?

published
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Nate Q.

Nate Q.Sydney, NSW

Monsters Who Wouldn't Pay Out A Claim

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Mick. D

Mick. DSouth East Queensland, QLD

  • 4 reviews
  • 10 likes

Very Dodgy Company

published
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BigFish

BigFishGreater Melbourne (Inner), VIC

  • 3 reviews
  • 6 likes

23 years of waste

published

Was with BT since 1996 and was far too trusting of their ethical (and fiscal) responsibility to act in my interests. They didn't and it has set me back 10's of thousands....
Excessive fees and consistently poor returns on their "BT Retirement Selection - Personal super plan" product, and further compounded by the Complaints Resolution Team who's only purpose is to deflect and avoid any recognition of the issues.
I've paid a heavy price for not paying attention - don't let it happen to you.

Terrible support and terrible roll out process could cost my client his insurance policies

published
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Sally

SallySouth East Queensland, QLD

  • 4 reviews
  • 8 likes

BT Insurance are terrible, very frustrating and completely disorganised

published
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Tony

TonyCentral West, NSW

Should be locked up

published

I rolled all my supers into the BT robbers fund as I have been working from the age of fifteen, I am now 54 have had a few different jobs in factorys, labouring, etc over the years, busting my bum like a lot of other struggling Aussies I invested the amount of $45.000 in this scamming scheme which was all my supers, they had the cheek to send me a report that I had $2000 left 15 years later I know I could have moved to another fund (but I wasn't that savvy) as they told me when I rang them and ask them if they were going to keep charging me fees when my account was completely empty, they told me that they don't do that. Wooh I was so thankful.Id just like to thank you again BT for Rippin' me

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James D A

James D AGreater Melbourne (Metropolitan), VIC

TPD claim 2 years and counting. (AFCA time limit. Now accepting complaints dated back to 2008)

published

BT refusal to make any decision on TPD claim for over 2 years. Finally made decision to pay TPD claim when the AFCA got involved. I was told TODAY they're express posting a document that I have to sign and send back for payment to be processed. I call BT almost every 2nd day to be told that it should make the post by tomorrow. A month later still haven't received anything in mail.

AFCA time limit to make complaint changed after royal commission and will review issues as far back as 2008.

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Annoyed, we now have a h

Annoyed, we now have a hHobart

  • 2 reviews
  • 3 likes

Dodgy- refusing to cancel insurance and stealing my money!

published

I have been attempting to cancel 2 policies with them and they have been giving me the massive run around and stealing hundreds from my bank account monthly. Dodgy dodgy company. Thank goodness I haven't trusted them with my super!

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Barbara

BarbaraSydney Surrounds, NSW

  • 4 reviews
  • 4 likes

do not trust this company for trauma insurance

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Questions & Answers

Corinne H.

Corinne H.asked

Im have recently had a personal injury and i am waiting on my salary insurance with BT,
can you guys provide any info?

No answers

Sandra B.

Sandra B.asked

How long does funds take to 2 transfer from bt super for life account to your westpac choice account is sonce rolled over

No answers

Sandra B.

Sandra B.asked

How long does funds take to 2 transfer from bt super for life account to your westpac choice account is sonce rolled over

No answers

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Details

CategoryRetail Funds

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