Very average customer service
I have been with them now for some years but find them particularly average in their customer service. Long waits on the phone ("due to overwhelming demand....") when we all know it's about cost cutting. This bank is supposedly owned by unions and industry super funds which is good but from the customer point of view there is no difference. They couldn't care less and are no better than Westpac, NAB etc. Any letter or email I have written to them has been ignored. I think it's time to move my loan as they aren't even that competitive.
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 ...
It was a bad home loan experience for me. After the the 3 yr fixed period they increased the rates twice while industry rates were going down. They would not negotiate on the rates until I had already decided to change lenders and I gave them ample opportunities. I would not recommend them.
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.
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..
Shocking customer service
ME bank did not call back for two weeks to discuss quotes or provide pay out figure. Subsequent calls were delayed with related customer service agents not helpful. Call back never happened.
ME HOME LOANS
Been with ME for a while now, place money into mortgage account to draw down the abominable interest rate they charge.
Logged into my account and found they had taken $3500 without a single word, then I receive a letter in the mail stating that they’ve made changes to their withdrawal facility. They think I’m at risk of withdrawing all my money and I would get into financial stress.
It states the only change is the degree to which I can dip back into my loan for funds. My new redraw amount is now $.
I will be paying off my home loan and moving all my money to another bank. I suggest others do this as well as I can no longer trust ME. As far as I’m concerned this is fraud.
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,
ME Bank took $ 7643 from my Offset Account without warning or my permission
During this coronavirus pandemic where bank customers may need to access their own funds ME Bank have just swept through a large number of their customers' offset accounts and taken significant sums of money with no warning and paid that off against their home loan - apparently sending a letter out that was way too late to warn anyone what they were going to do (I haven't received mine) and no doubt deliberately planned that way. Money that was part of my nest egg in case of a rainy day.
I am now retired and have banked with them for many year...s before I retired and after this sly and sneaky act would never recommend them to anyone ever again. Warning - do not bank with ME bank unless you like having them raid your offset home loan money whenever they see fit. I will be complaining to the Banking Ombudsman as will many thousands of their customers who are currently complaining on Facebook as well. A Class Action is being discussed but Customers have to complain on social media because you cannot communicate with the Bank itself unless you are prepared to wait on hold for ever or for an email or return phone call that doesn't happen.
Worst of the Worst
I have been a customer with Me Bank for over thirty years. Noticed last week about redraw issues with our two home loans.. I rang the day it was adjusted and got treated like an idiot ... Just because I am on a disability pension doesn't mean I am on life support and brain dead. Our second issue, they were going to reduce our interest rates on both our loans as well or we were going to go to another bank... Still waiting for our rate reductions 3 weeks later... Me bank have no respect or regard for customers ... they treat customers with disab...ilities with absolute contempt .. You have lost our loyalty and respect.. We have numerous family members that have all been long term customers and we are all in the process of switching banks ... We feel very sorry for all there customers that have lost there jobs and trying to deal with ME. We have been told some horror stories from friends trying to deal with them because of job loss. I used to actively promote Me's great customer service and rates, not any more .. Ever since they started trading under the ME Bank logo they are worse than the four big banks.... every thing you hear or read about the bank is right on the mark ...No customers service and treats customers like garbage... There computer system is old and unreliable .. Every time you ring its the some old thing, its the old computer issues excuse. I would trust the Bank of China before I trust Me bank again... Our loans will be paid out within the month and we are out the door, cant happen quick enough . Hoping they get investigated for failing to notify there customers before there redraw stunt, they blind sided thousands of customers with. Not one of our family members received a letter regarding the redraw issue. We have family all over OZ. If we could give minus 10 stars we would.
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!
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!
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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