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ME Bank Online Savings

ME Bank Online Savings

2.0 from 12 reviews

Reviews

Review distribution

5 star
1
4 star
1
3 star
1
2 star
3
1 star
6

4 weeks for a $5000 personal loan

published

I thought ME bank would be a breath of fresh air, instead, I am disgusted at leaving RACQ bank for this immature bank. They need to learn so much more.

Transparency

TPT

TPTMELBOURNE

  • 83 reviews
  • 143 likes

It's a good thing I see little value in stealing.

published
trompfy

trompfyGreater Melbourne (Outer), VIC

  • 149 reviews
  • 43 likes

The worst bank

published

I wouldn't recommend opening any accounts with them because they obviously couldn't careless about their customers and they obviously don't want your business so I definitely would recommend going to ANZ or Westpac where you are felt welcome and treated with respect.

Bonus Interest rate decreased with no notification

published

I complete agree with review from Jack from Sydney. These bank all the way to fool people around. How difficulty it is to notify existing customer that Bonus interest will decrease and now customers will only get 2.85% and not 2.95% before. I recently moved my money into ME Bank account but I guess I will take somewhere else now.
Cheat banks don't deserve my business.


Jack

JackSydney

  • 2 reviews
  • 8 likes
  • Verified customer

Bonus interest rate variable without notice

published

happycamper700

happycamper700

  • 3 reviews
  • 9 likes

Bonus Interest Trap

published

I had an Online Savings Account, which accrues bonus interest if you use TapNGo on their Mastercard "weekly". The interest is credited at the end of the month. The use of the word "weekly" is misleading and ambiguous, as you MUST use the card EVERY seven days to get the bonus. If you just average out four transactions per month, you'll miss out. The bank says it's a "loyalty" measure, but it really is a scam to avoid paying the interest - surely a loyalty measure wouldn't differentiate the definition of weekly in this narrow way? Stay away.


This bank is appalling in every possible way

published

I had my money with these incompetents for 6 months and that was enough. Every month there was a problem with the bonus interest. They kept changing the rules and finding excuses not to pay it. They are liars. They took weeks to reply to messages online. I kept asking for a statement and they kept using excuses re technical problems that never seem to end. Avoid them at all costs.


Truereviewer

TruereviewerVictoria, Australia

  • 4 reviews
  • 8 likes

Online Savings Account - Dreadful and Incapable Bank

published

I've opened an online savings account that consists of two components : base interest of 1.3% and bonus interest of 1.75% . The so-called " online " bank credits only the base rate and no bonus rate at the end of the month . First month it took me 3 phone calls and 2 emails to resolve the issue . Second month and the same issue occurs all over again . I've decided to vote with my feet and to close the account . Very unprofessional financial institution with inefficient online systems in place . I'd suggest to stay away and to consider other banks .

Notappyjan

NotappyjanSydney, NSW

  • 8 reviews
  • 6 likes

Long term customer - moving on

published

I was annoyed and disgusted after many years of banking with ME to find that they would not continue their online savings interest rate for us on our three figure savings. Said it was only for new customers. They have not even replied to my email four days ago now. Pathetic service. We are going back to St George.
Good interest rate
No branches, inflexible, inefficient

spudatthebrook

spudatthebrook

  • 7 reviews
  • 5 likes

Shifting goal posts

published

This account when it was first conceived was an excellent product, low fees, reasonable interest rates but over the last few years has become more expensive to keep. The bank only has one ATM in South Australia although you can use other bank's ATMs ME charge you $1 per ATM transaction better off with an everyday transaction acc. and an online savings.
Used to be a good cheap account to run
Now charge for every ATM use, there are cheaper alternatives around ME keep changing term and conditions


heytherek

heytherek

  • 369 reviews
  • 31 likes

Excellent

published

I like this savings account as you have ready access to your money while earning a fairly decent interest rate. The account is very easy to manage online and you have no fees to pay.
This is not one of the big banks and offer some great accounts like this one where you do not have to pay a single fee. It is easy to set up and easy to manage online. The interest rate on offer is not too bad when you consider you have instant access to your money and no set term or penalties to get it out.


shellfreak

shellfreak

  • 168 reviews
  • 21 likes

Good

published

We've never regretted switching our savings to this account. We know we are getting one of the best rates of interest around, and are with a good bank generally with their other products and services.
Extremely competitive savings rate, and as the advertising says, you know what you're getting, with too many other banks attaching gimmicks to their rates. No minimum amount required to open an account, and a really easy online application process.
The interest rate doesn't always move up (when rates are rising generally) quickly enough, leaving you feeling frustrated that you could be doing better elsewhere.

Questions & Answers

Monica Gray

Monica Grayasked

What is the best interest rate for a term deposit for $287,000 for a period of 6 months?

1 answer
TPT
TPT

About 100 billion %. That is about the best you will ever get. I don't know who pays it though. Perhaps you could look up all the banks websites yourself, and come back here and tell us all yourself.


Monica Gray

Monica Grayasked

What is the best interest rate for a term deposit for $287,000 for a period of 6 months?

No answers

Get an answer from our members and ME (Members Equity) Bank representatives

Details

CategorySavings Accounts

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