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ME Bank Term Deposit

ME Bank Term Deposit

2.2 from 18 reviews · View Statistics

Reviews

2.2

18 reviews
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    2.1 (7)
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If only I had read the reviews

published

1 star review is a star too much. Beyond appalling in every respect: customer service, web site, communications, everything. Will never go near them again. The time I wasted on hold wiped out any benefits I experienced from a higher interest rate. Just not worth it.

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Solid handling of my term deposit

published

I rolled over interest from TD into new 12 month period at a certain rate. When I got the summary of new TD it was at a lesser rate than verbally discussed when setting up the new TD. When I rang to note this they listened to phone agreement and changed new TD to agreed rate. Very happy with outcome.

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Kate

KateGreater Melbourne (Outer), VIC

  • 2 reviews
  • 1 like

Beware of fast changing Interest Rates

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1 comment
Kate
Kate

An update the outcome of the above, following a call to A.F.C.A who referred me to the Bank's Resolutions Dept. there has now been a satisfactory outcome to this issue.

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Airsie

AirsieGreater Melbourne (Inner), VIC

  • 3 reviews

Bad Experiences with ME Bank

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David

DavidIllawarra, NSW

Go digital? You are kidding...

published

Opened TD. Not able to provide maturity instructions online. Have to fill out forms or call.
So tried to call, asked for callback which was offered. Then the system called back but nobody came on the phone at all for one hour - still waiting.
A bank trying to be cool and modern, but failing at all contact points. It creates clutter....
Disappointed!

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Greg

GregGreater Melbourne (Inner), VIC

Offensive and poor communication

published

I wrote to them telling my father had passed away and asked them what is the process to access his term deposit. After a week they wrote back addressed to HIM and asking him to call them. They obviously either didn’t read my email or didn’t care.

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Joe

Joe

  • 5 reviews
  • 2 likes
  • Verified

Don't Use Them

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Gill L.

Gill L.Canberra 2600, ACT

  • 2 reviews

ME Bank offered good service, product knowledge and advance warning re: TD

published

I have had only one TD reach maturity with ME. The process was smooth and I felt well-looked after throughout in terms of receiving phone advice, support and finally notice about the impending maturity. I have gone back for a second time as ME rates are competitive.

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Begging for your own money!

published

Interest rates are good and use them only when you know you would not need your money in a hurry. I had an emergency situation and needed the money. No matter how I beg for it they would not release the money to me. I had to wait for 30 days for it.

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Don't go there!

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Janice Vasic

Janice Vasicflinders

  • 3 reviews
  • 2 likes

Westpac Poor phone banking

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William

William

  • 3 reviews
  • 8 likes

slowest bank ever

published

8 days after submitting forms for term deposit, still no action from ME-bank because they are "busy". If you take this delay into account, their rates are suddenly a lot lower.....

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Can't follow instructions

published

Sent mail message via account about a month ago requesting to withdraw funds and not reinvest and received a reply acknowledging this, but got a call from ME Bank whilst on the road about a day before maturity, I just told him I was busy and could he call back, he said he would before 5 but never did. The next day I found that they had reinvested the money. I called them and was told that I had a lengthy discussion with this guy in which I had asked to change the instructions and signed a form to that effect, what a liar! Would never use them again.

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lasbris

lasbrisSouth East Queensland, QLD

  • 5 reviews
  • 2 likes

Not recommended for SMSF

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Claude

Claude

  • 2 reviews
  • 5 likes

What a turnaround inside a month

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sichuly

sichulyvic, 3072

  • 3 reviews
  • 2 likes
  • Verified

Me Bank Term Deposit

published

Love this bank.So easy to apply on line.App is very comprehensive,able to check all info needed.Good interest rate and fair.Excellent pre maturity advice and give plenty of time to change decision if needed.Customer services are professionals,they listen and helpful.Do not hesitate to introduce ME BANK to family and friends.
Si

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heytherek

heytherek

  • 369 reviews
  • 31 likes

Excellent

published

A good way to tuck some savings away for a while as you earn a decent interest rate. Offers terms from three months and pays on maturity. Simple and easy to open accounts.
This term deposit account offers a good interest rate, often higher than many of the other banks around. The term deposits are easy to open online and once you have that set up you can see your account and when it ends. The interest is paid at the end. Easy, simple to use product that is no fuss banking.
The rates could move up a bit quicker once interest rates go up. Like most banks, everyone is slow to increase the rates for savers.

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shellfreak

shellfreak

  • 168 reviews
  • 22 likes

Good

published

ME Bank has a lot of competitive products and this is one of them, especially if you're with one of the industry super funds who own the bank. The 0.25 per cent bonus turns this from being competitive to near the top of the pile.
Competitive interest rates in a fast changing market, while the account is linked to your internet banking (if you're with ME Bank) so you can always "see" your money when logging on to do your other banking. And if you're with an industry super fund, you now get an extra 0.25 per cent on top of the headline interest rate.

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Questions & Answers

Lyn C

Lyn Casked

Where do you find ME banks in Victoria?

1 answer
Claude
Claude

I only now of their head office in Level 28 ,360 Elizabeth Street melbourne Vic 3000. Perhaps the call centra can advise on regional offices (if any)

helen

helenasked

If I have my term dosit in another bank how do I transfer my money to ME bank?

1 answer
Melbourne_3000
Melbourne_3000

Hi Helen.
I joined when a bonus rate applied on top of the variable rate, that is now currently not available to new customers.
The highest at call rate is at the time of writing this reply 3.15% for the online savings account.
You would need to also open an everyday savings account and link the two.
To confirm this and any other info call ME bank customer service on 13 15 63

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