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ME (Members Equity) Bank

ME (Members Equity) Bank

2.0 from 556 reviews

Just as greedy as the big four!

Don't get sucked in by the cheap interest rate on new home loans, they will only jack them up on you after a few months. Been a customer for only 12 months and have been hit with two interest rate rises without an official rate rise from the reserve bank! Do not bother with ME, as they don't give a stuff about you!

Customer Service

Hopeless!

Opened an account inspite of the bad reviews.More fool me. Debit card has never arrived, messaged ME bank and still no reply regarding this issue, so i'll close it.
Could i recommend this bank? no absolutely not.

Customer Service
Review TypeNew Account

Credit Card bullying by ME BANK

I called and tried to resolve my credit card issue and was read out a script over and over to force me to pay an amount I could not afford.
I asked for a long term payment arrangement and was told they now closed my account and I would get a call to make an arrangement.
Later I received another call from a manager and was told that they could only credit the overdue fee, he wouldn't listen and tried to bully me to pay the amount I could not afford.
How dare you. I will now call AFCA and make a complaint.
The staff and managers are very rude and don't listen.

Customer Service
Trustworthiness

Good interest rate but...

signed up a couple years ago for its high interest rate savings account. the interest payment is good and you can withdraw anytime. the only trick is you have to use paywave eftpost everyweek. its not my primary card so sometimes i have to go to vending machine or kfc just to spend few dollars in order to get the interest.

All good until you forget password or need any contact to the bank. it's internet and phone only bank. not a single branch, which means you won't be able to do banking in emergency situation after hours. And their internet banking passwords are numbers only. As an internet only bank, should't that be more secure? when i call them to reset password they just tell me what the phonebanking password is over the phone after some simple verification. kinda scared me because the identity thief could have been told the common password for the user's many other accounts. i have withdrawn all funds and closed the account.

Customer Service
Trustworthiness
Review TypeGeneral Transactions

Don’t waste your time

I have been with this bank for a while now and I have just become fed up with all it’s inadequacies I’m going to leave it very soon. The servers are down very often meaning I can’t get access to my money when I really need it which is so frustrating. It also doesn’t transfer money needed to pay for certain bills and memberships, leading in myself having to pay dishonour fee after dishonour fee. These are the two main issues I have with the bank but they cause me enough distress that I can’t see this bank being beneficial for anyone. The only way this bank could work for you is if you used it just for saving and not everyday transactions. To sum up, don’t waste your time and energy on this bank, go elsewhere.

Customer Service
Trustworthiness
Review TypeGeneral Transactions

The worst bank ever

The staff were very rude to me and to their customers at the branch also they keep you waiting while you are talking to them on the phone as well.

Customer Service
Trustworthiness
Review TypeGeneral Transactions and New Account

Credit card

I wanted to get a credit card so I applied online and was asked for a very quick details about myself and finances which I gave but was denied a credit card. I have never had a credit card before so I wanted to know why I was not approved so I called up but the lady I spoke to told me she can’t give me a reason why. I told her I just gave a very brief Info about my income because have got two jobs but she still told me it doesn’t matter and told me to apply after 6 months again. A friend of mine also applied and she was also unfortunate and has good credit score. I find this really annoying because the reason I applied to them is due to the fact that they are the only ones that have low purchase rate and nil annual fees. I find their judgement unfair.

Customer Service
Review TypeCredit Card Application

Big 4 killer

Been with NAB for as long as I can remember, they are no longer viable for me after a very rude letter DEMANDING a payment for overdue fees on an account that was closed several months prior and removed from Internet Banking. The redress for this error was atrocious and consisted soley of messages within internet banking, no apology or acknowledgement of any wrongdoing on their part, very impersonal. This prompted me to conducted extensive market research on alternatives - ME came out on top with products, simplified online banking and the ease of setting up 3 accounts including a new credit card was positive. In light of the Big 4's reputation, ME will be seen as the best alternative there is overall.

Customer Service
Trustworthiness
Review TypeCredit Card Application, General Transactions and New Account

Service Exceptional

Every time I have called this bank for anything I actually get to speak to someone, someone that can understand me .They have so much patience and are so helpful, and exceptional manners. Thank you all so much . And to the gentleman that was so patient with me today and my internet banking your a treasure.Great work. Highly recommend ME Banking .

Customer Service
Trustworthiness
Review TypeGeneral Transactions

Great

Good customer service. They online tools are easy to use and have all the essentials. Low fees, better rates compared to other banks. I've had a positive experience with this bank.


Terrible

Seems the Institution needs to lift it's game based on current poor ratings, also needs to urgently address method in which they supply and distribute replacement expiring cards. Extremely slow, and leave it way too long to generate replacements. My card expired end of February, now beyond the first week of March and still waiting.
Quick tip for you ME, take a page out of the other financial institutions books and have customers upcoming expiring cards supplied and delivered a whole month prior to expiry dates rather than "begin" to generate them 2 to 3 weeks prior to expiry. Won't inconvenience your customers so much that way as it leaves a bit of leeway. It's Happened to me twice now with services attached and linked to my card cancelled due to expiration of card.
On the other end of the spectrum, very quick in stinging you a whopping $25 fee if you just so happen to be ever so slightly late with a credit card payment... Somewhat over the top Me, don't you think??

Customer Service

Former Members Equity customer, and I've experienced a real decline I'm afraid

I have been with Members Equity since 1997, and it has changed to ME Bank, and over the last two or three years, has progressively become difficult to deal with. I use online banking, and searched on 'review ME Bank' to see if it was just me, or it was a 'thing'.

The website is poor and clunky, I cannot find simple information on my home loan, such as the loan termination date/term, minimum repayment amount. The 'chat box' is not on the website, despite it being mentioned as a way to contact them.

The recent website update has put the final nail in the coffin. I am now thinking it's a deliberate ploy to make it hard to compare loans. My loan is not large, but the rate I am paying is no longer competitive, so I think it's worth changing.

Reading the other reviews has confirmed it is not just me, but the 'type' of organisation has changed, and their online presence has not kept up with the times.

Customer Service
Trustworthiness
Review TypeGeneral Transactions

Topup on loan

Topup approved, letter to sign sent to Queensland, I live NSW, need money no later tuesday, can't wash hair cold water anymore, can't download letter, lm in tears, help me

Trustworthiness
Review TypeLoan Application

Shocking service

They have become shocking. Finally decided to leave and had to ring three times to get discharge forms. We have been with them for ages. But the two huge price increases was the final straw. They basically told us to leave

Customer Service
Trustworthiness

Slow, ridiculously complicated and hard to deal with

Some of the information they wanted from us was both irrelevant, dated and difficult to obtain. I mean an accountants letter to clear a market stall business as solvent! Really. You want an accountants letter which states that my hobby has no debts. What planet are you on.

Customer Service
Trustworthiness
Review TypeLoan Application
1 comment
I have to add that the staff were very pleasant and my review is by no means a personal assessment. They just have a poor business model to work with.

Disgusted

I have banked with members equity for approx 20 years ,during the last week I've had the luxury of dealing with their disputes department over a joint bank account which the co party wants closed even though they havent used that joint account in 20 years .All's fair let's close it ,let me arrange all my direct debits and arrange a new card for other account .I now have the pleasure of receiving a inch thick parcel with every transaction on this account dated back to July 17 dumped on my doorstep ,no front letter with pages and pages of transactions.Also ME bank found it the perfect time to also forward these transactions to a person who never uses or used the account.ME bank told me this was generated by a robot ,yet it was placed in a hand written envelope and dumped on my front door mat .In the process of talking to the girl in the ME bank department I had the luxury of her hanging up in my ear , she was not happy with the fact that I asked her did a robot put the documents and address it .I always thought ME was great and was more than happy to have all my banking and mortgage with them .Just don't find them very professional at all after these dealings.

Customer Service

not a great bank to deal with. Very poor communication

12 years and 6 years too long
No very inconsistent hard nosed and difficult to deal with
Mostly not good.
We are in the processing of mving to a new bank and getting 80% equity loan as opposed to 50%.
They are very inflexible and provide even less loyalty than other banks.

Trustworthiness
Review TypeATM Experience, General Transactions and Loan Application

Moving on

For an online bank the App is clunky and slow. Over the past few months I simply cannot see any details across my accounts as the app can't communicate with the server and keeps crashing. I have been with ME Bank for 10+ years but it's time to move on, they need to invest in their front end technology, it's not 1996.

Customer Service
Trustworthiness
Review TypeGeneral Transactions

Slow and bland

The app is very clunky. It really needs to rise to the standards of its competitors. And it’s extremely slow at releasing and transferring to other banks, you need to allow an extra day or two for money to be received at the other end, keep it in mind when paying bills. My old bank, which I’m starting to regret leaving, would do it in hours. And I don’t understand, why cut off has to be five pm, there’s nobody processing the money, it’s all done online!

Customer Service
Trustworthiness
Review TypeGeneral Transactions

Worse than the big 4

Been with ME since 2001 before they were a bank. In those days they were good. Now their service is non existent and their rates are high. Worse than the big 4. Is that even possible?

Customer Service
Trustworthiness

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Questions & Answers

How long does it take to respond to a personal loan application? I had an initial phone call the first day then 9 working days later and not a peep...
1 answer
Ask the bank

I need to pay for the purchase of a house. Does ME provides bankers cheque and if yes what does it cost and how long does it take?
No answers

My son has been trying to get approval for a home loan and has supplied 3 months of payslips and they are still asking for more is this normal?
1 answer
Hi Dianne, sorry for the late reply. It is normal, it does depend on the assessor and what they require to ensure we have enough information to give your son the best chance of being approved but also to ensure we are following the responsible lending laws in Australia. If there is anything else please let ME know - Thanks Jono

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