Worst bank experience in 25 years
My Odyssey in Bankingland
Three times i had to resend a discharge form for a sttlement of our property in Brisbane. MEBank has never confirmed or otherwise if documents sent were in order. A week later - we called them (40-45 mins) and were informed that we had to resend documents again (it was our inexperience). One would think that bank will get back to you by email or phone to let you know? Not really. It was entirely our problem
---second call (just under 40 mins) a representative went through our forms and confirmed several times that ev...
rubbish waiting times
hold times beyound 30 minutes???? due to high call volumes???? When you want to email your issue, theres a comment, due to high volumes of queries, there may be delays.....go figure hire more staff. For a banking icompany, very poor customer support
Waiting and waiting for my home loan to be corrected
Refixed my home loan with ME Bank after three attempted phone calls to get through (eventually just waiting and waiting which isn't easy when you have things to do). After a long phone call to fix it, it's 12 days later and nothing has happened. I'm still being charged the higher old rate and the money I added into my home loan hasn't been absorbed into it. And despite sending two emails, I'm stuck with making another dreaded phonecall and waiting endlessly again. Doesn't make life easy for working people that they only take calls during the same working hours that their clients work. Go somewhere else if you're looking for good service!
Customer service does not exist
When trying to close out mortgages there is always a delay even after being given six weeks notice. Each time they have blamed someone else however taking the opportunity to charge the extra interest. This has happened three times. It appears to be a trend.
Frustrating customer service
I've hated dealing with ME Bank since my broker used them for my home loan. They consistently give advice for the wrong product, or only partial answers for another product. I've asked them to investigate advice I was given over the phone and they ignore the question. They refuse to acknowledge that I can't access their phone service due to disability trying to push everything through a case manager that won't help. Email assistance turn around time can be a high as 10 business days and due to partial or generic advice mean a further 10 days ...as you try to get them to answer. Assisted calls mean a wait of 30 minutes to 2 hours if you don't get cut off or hung up on. Some of this I could absorb if the product was worth it but my loan interest rate is more than twice that of other banks and I've already negotiated They have no interest or respect for their customers eg: when I was taking out my loan I was called "dude" by a representative multiple times. The silly jokey ads are not marketing. They are really treating you like a joke. I hope that the acquisition by Bank of Qld will clear this out. Time to leave
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!
Hopeless customer service at this bank!
I am now refinancing with another bank after the poor I received from Me Bank last year. I have a home investment loan with them which I had to pause repayments during Covid restrictions. Due to the poor training of their call centre staff, I was treated like I was in default and you always wait at least 20 minutes to talk to someone. I lodged a complaint with the banking ombudsman and in the end, they offered $200 to settle my complaint.
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.
Would not recommend an investment loan
Loyal customer for 5 years tried to negotiate lower rates as paying well above average. Interest free period has also ended. Was advised that it would be easy to reapply for interest only, but rejected. So now stuck paying high rate and principle. I have a second loan with another bank that I am paying a significantly lower rate with and interest only. ME Bank have passed on a small cut, but interest rates are already high so still well above a fair amount. I would never recommend this bank to anyone, my broker can't even deal with them anymore so I have had to myself.
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
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.
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.
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!
Farcically Poor Service
We have our mortgage with ME Bank (in my wife's name) and we have been disappointed. We were provided with misinformation, and then when we requested clarification in writing our emails were ignored. We posted a document which they seemingly lost as three weeks later they asked for the original, even though they should have already had it.
Not everyone we spoke to was bad by any means which is the only reason they got two stars instead of one, we spoke to a couple of really friendly, helpful staff. But unfortunately one of those friendly chap...s gave us incorrect information, and another lady who was assessing our application for interest only had terrible phone manner and didn't seem to know what she was talking about. I must say I enjoy the irony of the industry super funds using anti-bank adverts to grow their membership, whilst simultaneously running their own for profit bank (quite badly judging by results), and providing poor customer service. Quite amusing really.
One star too many!
ME, ME, ME - how apt!
Utterly pathetic follow up. Told things were done, only to find they weren't. Never got a call back when they promised. Never sent through paperwork when requested. Consistently having to chase up. Don't seem to understand the word 'urgency' unless it applies to them. Due to their contempt and lax ways, my family could be on the street as a result of a settlement falling through! They don't care. They really have become Australia's 5th largest bank. Welcome to the club ME Bank. You wont be hearing from me again!
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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