Reviewer Photos & Videos
Home Loan application nightmare.
My broker suggested we attempt to apply to heritage for a second home loan. Firstly they released a formal policy to utilise the builders grant like the FHOG which was unachievable and only realised after the fact by someone internally who actually decided to read the criteria of how the grant could be used. It was quickly withdrawn. Since then my broker has had continuous issues with Heritage and after two painstaking months of trying to get approval and jumping through all the hoops to acquire documentation for largely irrelevant personal inf...ormation, we have decided it is no longer a viable option. It is truly amazing, not in a good way, how long this process has taken with Heritage. My broker was unable to contact the assessor and was required to call the public service number just to speak with them and get an understanding of what was required. On a few occasions it took almost a week to get a single response from the assessor who would then require further documentation. This system is old, outdated and out of alignment with customer expectations and I applaud anyone who had the patience to stick it out because it was painful and id have better luck banging my head against a wall. Remembering that during this time, people are looking to utilise the home builders grant and with the experience I have had, beginning a build in three months is not likely.
Friendly staff and affordable products
I've been with Heritage bank for 4yrs now with home loan and everyday accounts. Anytime I phone up I speak to someone who is friendly and can 9.9/10 times answer any questions I may have. I live in Victoria and have still been able to bank with them easily. I hear they're opening a bank up in Vic at some point so that will make it even easier. I was previously with CBA for over 10yrs and was never treated as well.
Heritage issue the gift cards marketed by Australia Post. These are virtually unusable online. Uber, paypal, gymshark, David Jones, Menulog, forget all of them. I could go on, but the list is endless. These cards are totally not fit for purpose.
$6k missing out of my account
Heritage Bank administer Qantas Cash. $6k goes missing out of my account on 31.8.2020. Where is it? No where apparently! Keep chasing them up and getting fobbed off. Apparently it is being reviewed. Honestly if you can’t find the money after 2 weeks there is something seriously broken with your internal processes.
Excellent Home Loans and Credit Card rates lower than the big 4 Banks. Excellent Customer Service.
Have been Switched to Heritage Bank Home Loans and Credit Cards as being with ME Bank for more than 16 years. We were 2 years into a 5 year fixed loan which was 4.1% but they wanted $6270.00 to break account and would not help so had to change to Heritage Bank as home loan rate is 2.7%. There was no application fee and one of the best home loans rates around and cheaper than the big 4 banks. Plus changed our credit cards to Heritage which was cheaper than ME Bank. 100% recommend others to try Heritage Bank Home Loans and Credit Cards and the staff for the ease of getting loans through. Have been with Heritage Bank over 20 years but was loyal to Me Bank which ended up a big mistake. 100% recommend Kippa Ring Branch.
Worst bank in Australia
Have used this bank for 6 years, cannot wait to leave. Terrible service and endless mistakes, would never recommend them to anyone. Amazing how many other people say the same thing when you tell them of your experiences.
Never Ever apply for a home loan through this Bank.
After being financially stable for months and months we decide to purchase our first home. Recommended by family we thought cool sounds good. Oh how I thought wrong 2 months it took to be rejected 2 long painful months letters of declaration, payslips, bordering on unethical questions of children's health the list goes on. If this is your first time or even sixth time run, run as far away as you can from Heritage or it will cost you your mind.
Almost 3 months to process an application
Submitted a home loan application late June, with no credit issues, no personal loans, no debts and minimal expenses. After two months of requesting same documents over and over again. Having to send payslips about 7 different times, been in the same job for 4 years full time. They came back to me late August saying loan was rejected. Absolutely shocking of a bank. Regret ever trying with them.
Are not "people first"
I signed up back in December have not had a good experience was incorrectly set up with incorrect details and then told I could not get the intoductury interest rate as I am now not a new customer. Worst customer service and very unprofessional do not recommend.
Nightmare of a mortgage application process
I have been with Heritage for over 16 years, and was happy to bank with them until now. At a time when we needed our bank to step up and help us during a time of crisis, Heritage has let us down and added extra stress by taking an insanely long time to process our application. They seem to be ignoring our equity and excellent credit rating for no good reason, and I'm incredibly frustrated. Before this, I was fairly happy with them other than the expensive overdraw fees and very basic phone app.
Our broker advised us to go through heritage bank for a homeLoan. After sending every form, document they asked for Ringing bosses for proof an them saying we will get the loan,Monday comes around an they said no. Even when we had a Family member saying they would go Guarantor To improve our case. Employer saying they would transfer 6month Worth of wage to get us over the Line, Still a no. Now reading all these reviews wish we never went through them.
I accompanied a friend to heritage bank who needed to have a bank cheque done. My friend told staff at door he needed a bank cheque for $500.Firstly staff at door asked what are you buying? Then teller said: who told you to do this( get a bank cheque), my friend told her its to the insurance, the teller said: if you didn't cause the accident then you don't pay any excess. My friend said: yes I caused the accident.
What's will all the questions by staff?
Its none of staff business why someone needs a bank cheque. My friend has deposited cheques to the bank over the years and staff ask him: where did you get the money from?
What a waste of time
Applied for a small loan increase. Told by Buderim branch that we qualified, only to be told after four weeks of us continually submitting more information our application was rejected, despite us having an excellent credit rating and repayment record. What a waste of time. They treat you as a number, not as an individual or on a case by case basis. They just crunch the numbers and according to them if it doesn't add up they reject you. Took four weeks to assess our application. Waste of time and postage. Never again.
Go through a broker or find a better bank!
My partner and I have had dealings with Heritage for many years.
After taking their advise to secure us what was sold as almost a guaranteed loan. Providing all the information twice as they decided to change the person looking after our file. 2 weeks of waiting to be told we can't afford the loan.....
They cannot take my $13000 a year recieved in child support into consideration (even though they asked for evidence of it) they also cannot take the 10 hours of overtime my partner does every single week (even confirmed this with his employer b...
Outrageous Settlement Fees on Loan Accounts
I have been with Heritage Bank for a long time now. I have 3 loans under the same account (fixed and 2 variables) I am in the process of refinancing out of Heritage as they were not able to offer me better rate. They are charging me $300 per loan = $900 as disbursement/admin. fee on top of break costs which is absolutely ridiculous compared to other banks. Spoke to someone in Headoffice and they redirected to the manager at Springfield who was very rude and was not willing to listen. Not happy with how this is being handled. Sorry but its NOT People first anymore.
Great Customer service
I've had an account with Heritage for over 10 years. Call centre wait times are very short and the staff are local and well trained meaning issues are resolved quickly.
Check on transaction
I needed to change banks about 3 years ago. Just due to location I went with Heritage. I use Kippa Ring branch and have always found staff helpful and polite. Also only to willing to help with anything I needed. Today I purchased a new computer online, a larger transaction than I most often make. Staff from head office phoned to check I had made transaction. Very well done on taking steps for security for a customer. I very highly recommend your bank to anyone. Sorry I have forgotten name of lady who phoned me. Thank you Heritage.
A Bank which cannot differentiate Expenses and Liabilities
I wonder how they run a bank because they simply have no idea about what’s the difference between expenses and liabilities. We heard such a bank exists through our broker as we wanted to refinance our mortgage from a major bank. After requesting hundreds of documentation over two months, they finally decided not to service our loan, as they considered our daughter’s school fees as a liability not an expense. We pay school fees weekly, however this bank may have thought that we borrowed a loan from the school and we are repaying that :P
Are you serious??? No wonder they have hundreds of negative comments here. Don’t waste your time with this bank! Absolutely hopeless!
Excellent customer service and competitive home loan rates
Been with Heritage since 2016 for my first home loan and never had an issue. There customer service has always been friendly and helpful. Very competitive interest rates as well.
I would recommend using this bank because the staff are always helpful to their customers and the service is fantastic since their customer service is always open 24 hours a day.
Questions & Answers
Is it legal for Banks to charge overdrawn fee's? For example Heritage charges $10 overdrawn fee's.
I would like to open a bank account because I’ll be staying here for 5 month Due to work and travel. Now should I open a bank account with heritage bank or Westpac (my friend told me they were good) ? Anyone got any experience?
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.