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!
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.
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.
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Slow Slow Slow!
ME Bank's service is slow! Sent an enquiry about closing my account and had to chase them up with no response after 5 days. They apologised, then told me my account would be closed in 10 business days. It's been 20 days and the account is still open. My mum submitted an application for a savings account and after a month they still hadn't opened it (she ended up cancelling and went with Virgin Money instead).
I'm only giving them two stars because their First Home Saver Account was great when it was available.
Have been waiting almost 3 weeks for pre approval on a home loan, have only been told today they are finally doing employment checks! What have they been doing all this time. If we dont have it by this afternoon they can stick it where the sun doesn't shine.
Rates Good, Customer Service not so good
We've had a loan with ME Bank since mid 2011- the mortgage guy who came to our house was nice, prompt, gave us pre-approval and then once we actually found the house - it was awful.
He failed to submit the paperwork to the head office, lied & told us the loan was approved (on a Friday lunch time) when we due to sign the contract on a Saturday- I called the Loan Manager to ask for the approval in writing before signing (3pm Friday afternoon) and told the loan not approved and they would only approve a reduced amount if I cancelled my credit ...card immediately. I eventually got onto the State Manager who personally approved the loan. Then they sent my "first home buyers" grant back to the state govt. rather than credit my loan because they didn't do the paperwork correctly. This was only picked up because I was wondering how come our loan amount was larger than expected. Now we are trying to vary our loan and found the customer service just awful- they sent us forms to confirm the forms we've already sent them! Seems like poor internal communication because we accidently emailed one sent of forms to "new accounts" rather than "post origination" & the forms were simply lost- not added to our file. The rates at ME Bank are good- but the customer service is appalling. Rates, not one of the big 4 Customer service, bureaucratic process, internal communication
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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