Hassle free online term deposit
I set up a term deposit two months ago. I found the whole process straightforward and hassle free. The rates were much better than the big guns which was the main attraction for me plus being able to set it all up online. I have had no issues thus far and would happily recommend Judo.
This week I set up term deposits with 2 different banks. With the other bank it was simple, the a/c was set up online, funds transferred, and online banking was set up, all done - easy and timely. With these guys, their pathetic system has led us nowhere, so we'll park our funds somewhere else. Thanks for the frustrating waste of time Judo.
Easy to set up, web design not sleek, maturity payout instructions unusual
I have been with this bank for six months. It was easy to set up an account, and checking balance was straightforward. The interest rate was higher than I could find anywhere else, but upon maturity this was rolled over for 0.2% less. I think that is a reflection of the economy.
The rollover was strange - every other term deposit I have had allows two weeks from maturity to give instructions - turns out this one requires you to send instructions beforehand. I was waiting for maturity date, and now my money has been rolled over for 6 months at a lower rate. I was planning to move the money to a different bank with a higher rate.
It's not the end of the world, but I do feel a bit misled.
IT(?) problems not resolved after 2 weeks?
Attempted to open term deposits however, due to issues with their site I couldn't. More than 2 weeks later, still have not been contacted. A bank, whose business it is to accept investments still cannot after 2 weeks and blame it on an IT problem??? I think not - Why cant they be 100% honest (I know - they are a bank) and tell people they are no longer accepting big or small investments? Is this how Bendigo conduct themselves with their customers?
Delayed to show up my money
I opened online term deposit a few days ago and looks like OK until I transferred a large amount of money to this account from other bank at 11am in business day and didn't show up my money at all in that day or night; l am so concerned about it and call them at 6pm that day but they were closed. The fund should show up in same working day if it was transferred before midday in terms of my same experience with other banks. Finally my fund showed up in the next day morning at 9:00, they are trying to hold on my money as long as they can, so they would pay less interest, they can not be trusted.
Frustrating. and suspect
I went through the same rigmarole. After clicking for an SMS code twice and still not reaching my home page, I clicked "Call Me" and my phone rang from+1-(358) 365-836. I cancelled the call and investigated . 358 is not a recognized area code in the US. It is the code for Finland. If I can't trust this part of their website, I can't trust them with my money.
Tried to open a term deposit account for $190K. After providing my identity documents, I couldn't create a login. Phoned support and was told I needed to use a different browser. (I was using the latest Firefox.) Downloaded and installed Chrome, and used it to create a login.
Tried to login: "Account not linked". Another call to support. Told me they were having issues, and would let me know. Nothing. After 10 days the application expired. Forget it.
issues with log in credentials
Been with this bank 1 months, easy to join.
Had issues with log in credentials and Olly and the phone solved my problem very quickly and professionally.
He went through all the steps very slowly for me to reset my credentials.
Cheers Judo Bank and Olly.
A decent bank with good credentials
I've been with this bank for about 8 months and I haven't got anything bad to say about it. It appears to be a fledgling bank with full bank status with the Australian Government Deposit Guarantee applied. My first term deposit was relatively longer to open but the process couldn't be flawed. It was my fat fingers. Once they thinned up, the initial application for a term deposit was a breeze. Then I opened another term deposit about 7 months later and using my existing login details, the account was opened in a very short while with no glitches...at all. The information came streaming towards me from the bank via SMS, email and online. Wonderful. The really good strong point about the bank was the 2-factor login. Real secure and couldn't be happier. As for their Helpdesk, I had occasion to call them twice and on each event, they responded to my call within a reasonable timeframe and the folks at the Helpdesk were very helpful and friendly and certainly knowledgeable, resolving my query to full satisfaction each time. Credit where credit is due!
Hopeless online Log in
I have tried o open a term deposit for about a week now and it has become a nightmare - keep getting a range of messages including "Account not linked" - You would not want to get your money out of this bank if its such a hassle just to put it in. Will go somewhere else there on line banking is a disaster
Questions & Answers
I have tried nearly one month to open a term deposit of 250K and I am still nowhere. Although the operator I have on the phone is always very friendly and tell me that the IT people are trying to solve the problem. What can I do to have to have it resolved?
Liliane VC W
I would suggest that you try to start a new term deposit as the rates that you would have been quoted a month ago would no longer apply. You are only given 10 working days to deposit funds once an account is considered active. I would seriously try a new account and use Chrome as your web engine and Windows 10. It should be effortless to open and it was for me on both of my term deposits.
Thank you for your answer. Yes I know unlucky the rates have changed. I use Google Chrome and I have Windows 10 on my computer. I tried several times and was never given a bank account number to deposit the money. I received the answer: account not linked! I have even tried with a new gmail address and it still did not work.
I will try again tomorrow. When everything is entered, should I answer: login in account or done? Thank you very much.
Mathew H.Judo Bank
Hi Lili, thank you for your feedback. Using Chrome as your browser to complete your application generally works best. We apologise for the inconvenience you may have experienced and would like to help you resolve this now to get your Term Deposit opened. Please email your name and contact details to firstname.lastname@example.org, and one of our Judo customer representatives, who will be happy to answer any questions or concerns you have moving forward and will be able to help you complete your application today. Thank you again for your feedback and loyalty with us, we look forward to hearing from you and resolving this for you as quickly as possible.
Is it possible to go to Sydney address to check Judo Bank out before putting our monies into Judo Bank? Tks.
Mathew H.Judo Bank
Unfortunately we do not allow casual visits to any of the judo bank offices unless you are meeting up with a banker to discuss your business idea.. Our Term Deposit applications are all online! For any questions or concerns go to our website or call 13JUDO.
Can I visit the Sth melb office to set up a $100000 term deposit or only done online?????
As far as I am aware it can only be done online but you can transfer up to $250k in one transaction via BPAY.
One thing worth noting about this account is that it is not Compound interest but Simple interest only. Make sure you do your research between this simple interest account and other compound interest accounts out there before committing, Judo bank do not make this very clear. Please note I am a customer of Judo, I do not work for them.
Thanks Tal. You seem to know what this is all about. Do you feel comfortable putting money in this "new" bank? They are offering a bit over 2% which is better than the main 4. Gary
Yes I am comfortable putting my money into this new bank. If I was opening a new account I would be selecting the monthly interest payouts to my external nominated account rather than annual interest. This is because they only pay ''simple'' interest. With a monthly interest payout, I can take that money and get it working for me quicker elsewhere rather than Judo holding the whole amount until the end of the term. As with all banks, there are some things that could be made clearer to their customers, so ask them questions directly before committing.
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