Still stressed by the experience
Had many problems including a change of their system no longer withdrawing loan amount from linked account, talking to representatives who provided false information and these resulted in extra payments and default notices. Also took 13 thousand off the money sitting on top mortgage without notice. Closed accounts without any communication- very stressful.
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
Most expensive rates in the country
Just got a letter saying my home loan rate is increasing to 4.3% . Logged into internet banking to call and get pictures of fake chattering teeth . Are your customers a joke to you.
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.
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Interest rates remains high
Borrowed from ME in 2001, the interest rate at the time was competitive as an owner occupier the interest rate currently (July 2020) is 4.47%. Conversations with ME about the interest rate have been to no avail and the costs involved in refinancing have made the option unviable. I have always made repayments on time and have a spotless credit report. Never again.
Good initial offer BUT difficult and extremely time consuming communications
For an investment property loan ME was absolutely a pain to deal with. At the end of my initial term I wanted to continue with interest only payments. I submitted many documents over after their many requests over several weeks then to be rejected.
Call centre staff rude and incompetent
We have been trying to get rate reduction correspondence sent out over the past 2 months. We need this information for both our accountant and the ATO. Five times we have rung and messaged Me bank to ask why we haven't received mail that was promised to be sent out via express post, only to be told it was never ever coded into the system. but they will message you to say it has been posted numerous times. We have also rung and emailed 4 times asking for redraw monies to be reversed only to be told again it was never ever coded into system.......Why is the call centre taking calls and never entering or coding it into the system .... but the worse thing of all is l stated l was a loyal customer of nearly 30 years and on a disability pension only to be laughed at and belittled. Absolute contempt for there customers able or disabled. I am sick of getting discriminated against by this Bank and its call centre. They really need to be held accountable for there poor attitude and treatment of all customers whether disabled or able bodied..
they have taken money from my account,
took money from my redraw no notice no contact, the people you speak to after hours on the phone, just spin what they have been told, this bank is just like the big banks now, they need to be investigated wirth a royal commission, Mark,
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Money missing from our redraw account. When I asked where it is? Because it wasn’t in our savings account and it didn’t come off the principal. They said “it had been absorbed into the loan” bloody thieves.
Do Not Get A Home Loan With This Bank
Received a letter today telling me that my available redraw had been reduced over $10k but that quote".... the total amount outstanding and the time remaining on your home loan all remain the same." That is in spite of paying well over the minimum payment required for over 2 years. I will be complaining to Australian Financial Complaints Authority. I am just flabberghasted that a bank can decide to more or less take your extra funds without permission!
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.
MEBANK Was Not The Bank For Me
I applied for a home loan and the amount of paperwork (including bank and income statements) that I needed to lodge was ridiculous. Six months of bank statements, including child support transactions, etc. The final straw came when I was already an existing customer - at the time of the new application - I already had an account with MEBANK, and because I did not physically meet face to face with the mobile lender whom I was dealing with at the time, they wanted me to submit paperwork at AUST POST with photocopy of drivers license. That ident...ification process wasnt good enough because I had an Middle Initial that wasnt noted down in my original account with MEBANK. I had to supply them with a Birth Certificate. All these personal documents were submitted to a central location, which any staff member working within the area had access to - all my personal details could have been picked by up two to three people. All I know is that having sent an email I received notification from an individual other than the person from MEBANK with with whom I was originally dealing with. So there was a lot of emails going to and fro - particularly when asking for clarification on documents or personal information the bank needed. I felt that this bank put me through so many hurdles and unnecessary against to secure a loan. What really annoyed me was that I was already an existing customer with them - which they took no consideration into this loan process. I also felt I was dealing with a bunch of incompetent baffons who really were following company protocols and had to seek clarification from their superiors when you as a potential customer had questions to ask. No streamline process here - no one point of contact - no designated member to your application and several bank individuals privy to your personal data. In the end I went to another Bank - without the stress, drama and hassle experienced with MEBANK, and I recommend that others explore other options out there, even the rate I secured was better than what was offered by MEBANK.
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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