ME provides the opposite of customer service
last year ME Bank stuffed up my redraw facility. Now I have been on hold for an hour so far because they do not answer their phones, and you have to request a loan discharge form over the phone. Forget doing business with this worthless lot.
Hopeless bank as once existing customer. Been unable to update my home loan. It’s been six weeks and 3rd attempt
3 times I have tried to reduce my rate for my homeland. Currently awaiting paperwork to be emailed and so far it’s been six weeks. Very unhelpful and very slow to help you reduce your home loan rate but quick to ring if my credit card is overdue. Very frustrating and hopeless bank once you are an existing customer
Incompetent and arrogant. Don't fall for the cool marketing image!
This bank projects a cool and friendly image in its ads, but don't believe the marketing. The reality is a mixture of incompetence and arrogance. The first giveaway was in the lead-up to my home loan settlement, when the bank sent me a package of 4 documents to sign, but with one of the four documents missing. This was a completely standard owner-occupier loan that they probably write thousands of each year... how hard can it be to send 4 simple documents? It was all downhill from there. They managed to link my online savings account to a...nother ME account (instead of an external account), which meant that I was unable to access my money in the account - had to waste more time of the phone to fix a problem that should not have happened in the first place. I was promised a 0.25% discount on my home loan as a NTEU member, this discount mysteriously disappeared after just a couple of months - never received any explanation or a reason from the bank. Interest rate cuts (2019-2020) were routinely either not passed on at all or only partially passed on. When I decided to refinance, I called ME Bank on the off-chance that they might offer me something better rather than lose me altogether; the customer service person I spoke to was so obnoxiously arrogant that there was no doubt in my mind after that call about going elsewhere. Their "parting gift" to me was to delay my refinance settlement by a month because they lost a document my conveyancer had sent to them early in the process. This one month has cost me several hundred $$ in extra interest. Needless to say, I am glad to have said "Good Bye" to them, and I have no intention of ever dealing with this pathetic excuse for a bank!
ME is for you if you want a breathtakingly incompetent, totally disorganised banker, loose with the truth and has many hands...none of which know what any of the others are doing. We changed banks based on word of mouth, we should have read the reviews and stayed put. We applied to move loans to ME in early October, 2020. After an incredible amount of misdirection and false starts one loan was completed after 2 months of daily interventions and much anxiety for us. The other was settled after lies, numerous broken settlement dates in mid- Janua...ry 2021, over 3 months after the application. So what? The loan repayment date began a week ago but the money has still not appeared in my account even after written promises! I am clearly expected to pay for money not received. I should have bought shares in ME instead, great investment when a bank only takes repayments without lending. Maybe this is ME's version of a reverse mortgage. A Mr Adam Crane was appointed as CFO of ME Bank December 2020 to "lead ME's business strategy" (ME website) as he has, in the past, driven "change, improvement and innovation". Well, no-one is running this shop. I'm off to AFCA and the Ombudsman with a formal complaint. Caveat emptor! Want a loan? Go elsewhere.
Started out great!! Have become bad!!!
Found ME to be excellent for the first 15 years or so, couldn't be better. Going down the gurgler in the last few years!! Their rates were always quite a bit below others in the past, now one of the most expensive around which is hard to believe as they are not a full blown bank with branches etc to cost in?? Wait times on the phone are long & then told someone will call you back within the next 2 days???? What!! I finally get a day off during the week when I can call & sort stuff to be told that, ridiculous!!!!! When we call you guy's we need ...to talk to someone there & then when we are in our home/work office with all relevant info, pen, paper, computer in front of us. Not at work sweating, in front of customers, unable to concentrate with nothing at hand that we need to make the call useful. Also new customers get looked after better than us 17 year loyal customers with offers of more attractive interest rates. To be fair they did drop my rate after asking for a better deal but it still wasn't very competitive. I think I need to leave this crowd.
Long waits on the phone, online app is very basic and crashes all the time, very long time to process requests. I was expecting good customer service because it's a small bank but overall it's been very disappointing
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Had verbal pre-approval from an ME representative to buy a house more than a year ago. Good loyal client with strong savings record. Borrowing well within limits. Permanent, covid-safe job. Recently successfully bid at auction, subject to finance (14 days). ME messed us around for 5 weeks and then finally said no. No real explanation, nothing in writing.
Many others would have lost their deposit at that point. Fortunately a rival bank has been very helpful. Stress was increased by a lack of communication. We had to do all the following up with ...
Mebank ripped me off, charging $400 on top of a high rate. When I stopped them taking my $400 they increased interest to 4.75%. 11 years as a customer. Scum.
Terrible to worst
Amortisation- got a letter today telling us the bank had taken thousands out of our redraw and put it on the principal - without informing us . You can only have 25% of the loan balance in redrew ?? How dare they!
Absolutely terrible - will raise your interest rate as soon as they can
Raise interest rate a month after signing up but lie and say they won't if you purchase their "member package", lost my paperwork prior to settlement which delayed it by days, delay processing your pay so you can't organise direct debits, send texts you have missed a mortgage payment when you haven't, statements don't accurately reflect each other even though all accounts are with Me. Will keep you in the phone forever and then laugh at you when you question their system their banking ap has constant glitches and is never up to date. I seriously regret going with them and will bail as soon as possible.
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SERIOUSLY! DO NOT TOUCH!!
Delay! Delay! Delay! Get used to those words. This is the worst bank we have ever had to deal with, they charge numerous fees and give zero service, the terms of the loan were even incorrect, eg. frequency of repayment, fixed or variable. You can do bank to bank transfer out of their accounts, but don’t try to transfer in, they are NOT registered for that service. They outsource valuations, their solicitors, all with added fees. They do not communicate, they charge heaps and give worthless service.
Questions & Answers
once you approve a home loan how long before i get the loan documents to sign? & then how long does it take for my refinance from my existing lender (choicelend) to go through? thanks
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