GOOD CLEAR SERVICE
I am an ELDERLY member and have always received excellent help over the last 6 years . This morning October 12th 2019 I talked with KEVIN he was very helpful in explaining the new tap and go programme for my savings and the new interest rates. All rates are going down but ME bonus is steady / constant unlike others only for 4months and then disappears. Good service better than other banks I have had my savings with with.
Great products, so so customer service
I have been with this bank for over 15 years and have taken advantage of the low or no fees on a variety of products. Savings accounts, personal loans, credit cards and, now, home loans (two!). If you are looking for simple products and a decent online banking system then ME Bank will suit you.
One of the draw cards for using ME Bank was that it WAS the little guy for a while and promoted low rates and fees, but unfortunately they seem to make their money back by not providing variable home loan rate cuts that are comparable with what the othe...
I’ve been banking with ME for over 20 years and have had a number of home loans with them. The experience overall has been a mediocre ‘average’ although I think service levels have declined in recent years. It’s often difficult to get through on the telephone and more often than not, you’re greeted with a message saying wait times are longer than usual due to unusually high call volumes. When that happens on a regular basis, then that level of call volume IS the norm, so stop saying it’s unusually high! What it does mean is that you don’t have ...enough people answering the phones. Also, if you want help after 8pm weekdays or after 6pm on a Saturday - too bad, you’re on your own. And don’t bother calling for help on a public holiday because “We take national public holidays off”. WTH!! So, as at the time of writing this, ME Bank is offline and I can’t access my money. It’s Sunday so the lights are out at ME bank. Here’s a heads-up ME: change is on the way. I’ve already got a debit card with one of the ‘neo’ banks and I’ll soon be transferring all my accounts to them. Time to wake up and lift your game.
ME Bank is excellent for simple banking without fees
I have banked with ME for around 15 years, taking out 3 home loans with them and maintaining a credit card, and I can recommend them for their service, interest rates and responsiveness. They don't charge many fees and although there may be some minor drawbacks to an online, vs bricks and mortar bank, I thoroughly recommend them for all banking needs.
I have been with ME for the longest time. Every time I need help they help immediately, without question and let me talk about what is going wrong. My income was suspended for several months a few years ago and they advised me how to get my home loans suspended, they showed me how to reduce my home loan payments by splitting my loan. I have never had a bad call. Thankyou
Recently applied for a joint personal loan – Whilst the process of the application, verification and settlement is slow when compared to the ‘big 4’ and unless ME conducts a major process improvement I cannot recommend them for a personal loan if one of the prerequisites was that you needed funding urgently. The constant phone calls to follow up/progress your application as well as misleading timelines given by some call center staff did not lead to a pleasant customer experience/journey.
However when you compare ME to the big 4 and other fi...nancial services institutions ME bank offered a great interest rate, better terms and conditions as well as overall product features (no maintenance fees, early pay-out is acceptable etc.) and the majority of customer service staff were welcoming and accommodating. Whilst I do understand the frustrations some other reviewers below have posted regarding their experience of being ‘conditionally approved’ and receiving the welcome pack in the mail ( the welcome pack includes all the paperwork necessary for the loan ‘letter of offer, direct debit authority form & loan disbursement form) and then once they have submitted these forms including any other verification's/conditions outlined in the welcome pack - then go on to be declined for the loan, I can completely understand why this would be very disappointing from a customer’s perspective as when you do receive this pack it makes you feel as if the loan has been approved and from past experience you never get these documents until the loan has been unconditionally approved. This all can be misleading to an uninformed consumer and I’m sure there has to be a better way to do this. However I do respect that banks need to be more responsible than ever when it comes to their lending standards and I believe that as long as your within your means and meet the banks credit criteria your application will be fine. We were previously NON-ME customers our application was approved and the total time from application to funds in the account was 14 days. We are happy to be new ME customers and we like knowing that the profits go back into Australian’s super! So far so good!
Don't have a good feedback service rude.
Been banking with members equity for over ten years. In that time I've had car loans home loans and paid them all well within period. And currently have a personal loan that I'm $2800 in front on and paid out another loan eariler in the by a year early. Thought I was going great but got declined for a new car with even $8000 dollar deposit. And they give absolutely no feedback at all to help you out.
ME Bank is great for your basic banking needs
I have been with Me Bank for 4 years and use them for my main credit card, transaction and savings accounts. They are a no frills bank, which means they can offer better rates and no fees, however, that does mean you don’t get the latest technology and no physical branches.
I don’t see this as a disadvantage, since I don’t use Apple Pay and the like, and you can withdraw money from any major banks’ atm without any fee.
ME Bank has phone support (on-shore) and the staff are generally friendly and helpful.
If you’re looking for a bank for the basic banking activities and don’t need a bunch of fancy features, I highly recommend ME Bank!
personal loan application
Been with the bank nearly 5 years have two products with them. Taken seven weeks to complete an application was told three times been successful then to be told did not get it. No communication from Bank had to consistently ring them and then be told so many different things. No organisation skills and no communication skills. Definitely, do not listen and no loyalty to there customers.
I am very happy online banking with ME
I am very happy online banking with ME. My old bank offered me some good products that they only give new customers and attractive rates. They don't offer to existing customers unless they leave. ME still gave me a better product and have been very easy contact when I had a query and I got to speak to someone I could easily understand which becomes more important the older you get. I would recommend them.
POOR CUSTOMER SERVICE
I have HOME LOAN for nearly three years. When I rang them to get some information about my interest rates, I found the staff ([Name Removed]) dated 04-09-2019 wasn't friendly. He was acting as if they were doing a favor giving us loan.
So, rude and unprofessional.
I hope to get update and action regarding this matter.
Incorrect information in order to change over from another bank to ME, from mobile lender.
Opened a home loan account with ME based on information provided by mobile lender in 2011. I followed through with the advice from the Mobile lender after moving from another bank, only to be informed by ME bank that that information was incorrect and I would have to pay out nearly $12,000 for Lenders Mortgage Insurance. I was shocked and devastated by this as with the original lender, I would not have had to buy LMI. However, now it was too late as locked into ME. I sent them several emails and had no reply. I phoned them and was told by ...a 'customer service officer', that 'you should go elsewhere'. I have recently taken this to the AFCA, the Australian Financial Complaints Authority, who could do nothing as I did not have the advice from this mobile lender in writing. ME offered me the huge sum of $250 as they now admit that they did not reply to my emails at all. This bank is NOT FOR THE MEMBERS AT ALL. It is dishonest, unethical and will do anything to get your business, including lying and then not admit it after you have signed all the paper work and they have your business. If you are stuck with ME, then make sure EVERYTHING IS IN WRITING.
:( :( :(
Paid out our home mortgage early after 15+ years of extra payments. Never defaulted. I had to pay 3 ..... yes I said 3.... pay out costs. When you ring ..... they just send you round and round in circles. Inefficient service. Finalising a home loan should have been a joyful moment, but ME destroyed that. Their priorities are keeping you locked in with payments. I am closing all my accounts. Good ridance ME!!!
Happy customer so far!
Recently opened a ME account due to better interest rates. Have had to call up once, but the operator was super useful and helped me straightaway. Despite the bad reviews on here, I haven’t had any issues. I think you just have to remember they’re a smaller bank and accept that they have less staff than the big four. If you want things done in a timely manner then you have to sacrifice the better rates and sign up with one of the big four
Don’t even think about it
Mortgage is a 30 years relationship, however their product and services is not competitive. For example they don’t offer family pledge. What if in 20 years time you needing to support your kids to enter to their first home. I was wondering why everyone going with a big 4.
So today, I have not been able to access my accounts for over 6 hours and counting
This bank has had multiple outages in my years with them, you cannot login to online services (either on a browser or on the app) so forget about doing your banking!?! Do yourself a favour and look elsewhere, ME Bank provide a truly terrible experience. Following today's ongoing outage I can only assume that many people like me will be looking at other banks...
Mortgage Interest Rates
Me Bank needs to look after their existing customers better, especially, by offering them the same interest rates as new customers and what they are advertising their rates to be. By looking after your loyal customers first, you'll be more likely to retain them. Maybe ME Bank, should reward loyalty of their long term customers in future. Disappointed in the attitude and response to my enquiry from the customer service people too. " Can I help you with anything else today"? No - you were no help in the first place !
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Questions & Answers
I have just opened a savings account with me bank and I'm shocked to see that it's going to take 3 business days or longer for my money to transfer from another bank..why does it take so long when every other bank that I use is instant? What happens to lost interest whilst it's floating around in space? This seems very archaic..
From my experience with a variety of their accounts, and receiving money into these accounts, I can't think of an occasion where money has taken more than a business day (overnight) to arrive into my ME Bank account. I've also even experienced money coming in on the same day from certain banks. I believe the general rule of allowing 2-3 or even 3-5 business days is just a standard timeframe most banks put as to under promise but over deliver.
ME B.ME (Members Equity) Bank
Hi Sharon, generally speaking all bank transfers between financial institutions can take 1 to 3 business days to process, this is the industry timeframe as each financial institution processes transactions in a slightly different way. Most of the time you'll find that your transfer will make it across overnight, or the next day, but on occasion it will need the extra day for whatever reason. ME isn't on the New Payment Platform just yet, but were working towards it so your transfers will go through a little faster in the future. -Beck
why does it take 10 days to clear a bank cheque in 2019 when it took 6 days back in 1985
ME B.ME (Members Equity) Bank
Hi Lesl, thanks for reaching out to ME. Part of the reason is if it's coming from Australia post they are mailed to us. I've included some information below on what happens, also as a smaller bank we do still have manual processes in place rather than automatic or a machine. Sorry for any inconvenience this causes.
- Cheques arrive in the mail or are personally delivered to Head Office.
- Cheque details are examined to ensure ME policies are being met and that the cheque meets all standard criteria (date, signed etc.)
- Cheques are delivered to our admin team to process
- Account details are checked to ensure ME can accept a cheque deposit to the relevant account
- Cheques not acceptable are returned to the customer with a letter and notes are added
- Then we deposit the cheque into your account and wait for an answer from the other bank to clear it.
Let ME know if there's anything else - Thanks Jono
I've read alot of bad reviews from ME Bank customers recently, mainly about bank statements though.
I was wondering if anyone has or had a term deposite with this bank? Was it a good or bad experience? Did you have any problems?
Thanks in advance for your answer :)
Avoid this bank like the plague! They have so many issues from high level of IT outages to a terrible internet banking, statement issues, no branches and abismal online experience, extremely poor financial performance when compared to other banks (just check out their financial statements and compare them to other banks - dont know about you but i prefer to bank with a stong bank and this comes from sustainable financial strength, it's also an indication for me on just how seriously a bank takes fianances, mine included). They have an extremely limited product offering and the only selling point os the price/interest rate, which when you weigh up the experience they provide just isnt worth the grief!
All their so called new products etc have been on the market for the last 15 years. This bank is about 15-20 years behind most others, and their only selling point is their interest rates (which u can negotiate to get at other banks anyway) and their gimmiky marketing campains (which annoynthe crap out of me, personally).
They are a bank without branches, and a terrible digital experience. So if you want to be stuffed around, have terrible experience, for a rate you can negotiate with most other bamks to recieve anyway, go for it. If you want a bank who takes finances seriously and knows at least something about banking, ME is not the bank for you.
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