Worse than Centrelink
I've never written a review on this website and I consider myself an extremely patient person, but ME bank has pushed me to my mental limits over the last 6 months.
In January, we looked to break our fixed loan and pay the break cost due to the much better rates available. This started a game of cat and mouse where ME bank would send us documents, we would sign and send back, followed by ME stating they never received them. Our 45 min wait times were met by rude/indifferent customer service accusing us of not following things up.
Eventually t...he wait times ballooned out to 1-2 hrs, customer service deteriorated and nobody seemed to keep any records on where things were at, meaning we'd have to explain our entire situation again to the next bored sounding employee. On THREE separate occasions, ME promised to call us back, email us/text us and then... Nothing. Radio silence for days. Run, rinse, repeat the process of waiting on hold for an hour and explaining the situation from scratch again. You see, when you expect a call what they actually do is just 'close the ticket' without explanation. You're very lucky to get an apology or explanation to whoever's Manning the phone. Today I finally got put through and was able to fix the loans, and guess what? I've got a 42 day wait until it's processed.
Have had accounts with ME bank in the past and only decided to swich and move away from them due to lack of branches , went with one of the big 4 banks which i wish i had of reconsidered as i dont feel i have been provided the same level of customer service and care that i had with ME bank.
ME banks had always provided nothing but great customer service to me everytime i had to call with any issues, i am now in the process of switching all of my banking back over to ME.
MeBank has been the worst bank I have used for a home loan.
I am trying to refinance my loan with another bank and it has taken 3 months because their solicitors keep delaying or bring up another reason of why settlement can’t happen.
It’s an interest only loan and they are trying to keep me as long as possible before the transfer to keep making money. This should be illegal and they should be looked into.
SHOCKING CUSTOMER SERVICE
Longtime and loyal customer, ME withheld money without consent and now ate making it very difficult to recover my money. Rude, disrespectful and ignorant customer service. Having to take time out of my busy schedule to chase my own money up.
I have only been with ME Bank since 2018. I used my ME online savings account to save for holidays etc. In February after my husband lost his job he retired and we cashed in his super. Our local bank was only offering pitiful savings incentives so we moved everything to ME as we were guaranteed to earn 1.80% on these savings. But when I read of the freeze on home loan redraw facilities we became uneasy. Nobody can afford to lose their savings and this is why we decided to move them back to our local bank for better security. My husband was alw...ays uneasy that ME Bank didn’t have an actual branch in our city and this pandemic has certainly caused additional uncertainty. With the Government giving money away it devalues our currency... you can’t be too careful!
Find a better bank
I've been with me bank for 20 years. They used to deliver a great service. However, recently, the bank isn't what it used to be. I too had $20k frozen from my account without notification or warning. Am absolutely dissatisfied and appalled with this. I am in the process of finding a better bank with lower interest rates and better customer service. Take you hard earned money and trust elsewhere. I too will be lodging a complaint. Not good enough me.
Ethical, prudent, excellent
In close to fifteen years banking with them I have always found ME Bank to be excellent. When I was buying a home and other banks were willing to lend me a crazy amount of money, they were much more ethical and suggested a sensible and prudent amount. Despite their recent stuff-up I am very happy with them. Much better than other banks whose nefarious practices were revealed in the Royal Commission.
- Verified customer
No, just no
Banking services are often offline leaving customers with no access to funds. Terrible customer service and extremely poor communication. Generic “we apologise for the inconvenience “ response to all issues. Rarely answer phone calls. No Apple Pay or oska payments. Only 15 transactions a day, card gets blocked until midnight after 15 transactions
Fantastic, easy, reliable
Love ME Bank. Was put onto this bank by my Business Manager at work (she said all her professional managers have swapped over to ME) and im very grateful. Can call my broker 24/7. Easy to move money. A very low interest rate. Great phone service. Very friendly team. I was with Westpac for over 20 reasonably happy years but switched when buying a new house. Hassle free. Highly recommend.
Ethical banking at its best!
We have been with ME bank for about 20 years now... I can't believe I am going to say this about a bank but I actually love them! Not only do they have competitive rates (No bells & whistles or suck-you-in reward schemes) but they are ethical (!!) which is important to us. They are owned by Australian industry superfunds & ALL their profits go back to their members. They DO NOT invest in fossil fuels & never will. They support the Mothers Day classic every year.
Aside from all this their customer service is excellent, we have never had any issues with them & would highly recommend them.
Just don't risk it.
I too have been a ME customer for many years and normally have not had any issues with savings accounts only.But upon seeing what has happened to ME customers who have had their home loan redraw account funds taken without any notice,I wasn't going to chance my savings with ME either.Tried to contact ME bank several times recently and only get a recording and with no physical bank contact either will not risk my savings even though they are not a home loan.Have now withdrawn all savings to a real bank with excellent contact and advice and will close accounts once they answer their phone.Just don't risk it I say.
I have been with ME for a couple of years. The information given at any dealing has generally been incomplete and has resulted in problems with the TAX Office when the bank did not provide the interest on savings to the ATO despite an assurance that had been done. I am closing our accounts. ME Bank is under investigation by APRA. I have asked for a tax statement for this year but no response
Won’t give my money back
We have term deposit that reached maturity I sent an email asking to transfer the funds to my linked CBA account, a week later sent me an email saying they didn’t read my instruction email in time and they have already locked it in for another 6 months, I replied back saying I understood that by breaking the term I would loose new interest but was happy to do that please transfer my funds. The email read receipt has happened but no transfer of funds I have sent two more email since no transfer of funds this has been going on now since the 19/4 I will never use them again and would suggest if your considering using them be very cautious they just refuse to answer me- disgusting service and to think our money pays their wages!
Not Happy ME
I have been with ME for about 15 years. I had 60,000 of the money I was in front with frozen without my permission. Without an explanation as to why I was singled out and not even a letter from the bank. Today is May 7, 2020. The web page explanation is belittling. They are not doing this for our benefit. It is a money grab by the bank executives. Plain and simple. As a consequence the ME executives responsible should lose their jobs and bonuses for their own good. Today it was me tomorrow it will be you.
Rewards it's long term loyal customers that are years ahead on their loan repayments and at no risk of defaulting by reducing their redraw facility and keeping interest rates at very high levels even when the RBA drops interest rates to all time lows. No communication, email, snail mail, anything! Switch to ING or another on-line bank and save more than 2% and keep your redraw.
Another Home Loan Redraw Victim of ME Bank
I have banked with ME for around 30 years and my current home loan is about 15 years old. I had a significant amount of money available in my home loan redraw until 27 April when ME bank, without the courtesy of a call to seek permission, 'adjusted' my redraw down $20K. I am just amazed, astounded, incredulous that, after a recent Royal Commission about unethical practices in the banking industry, they decided that this 'redraw adjustment' to myself and a large number of other loyal customers was a good idea. They have trashed their reputati...on almost instantly. What were they thinking? Look at all the complaints and bad press in the news papers. Now I will have to go through the drag of complaining to them, and maybe further up the food chain to the AFCA, to try and get my redraw adjustment reversed. Fortunately I am financially secure, but I can understand why those who may be in a more precarious financial position would be extremely angry that their redraw has been reduced. Needless to say, like many other customers that have complained, I will not be conducting any further business with this bank. Why would you? They have lost their customers' trust. I can only advise anyone thinking of banking with ME is to take heed of the many complaints you see here.
I only found out from reading paper this morning about ME taking funds from redraw account sure enough straight away checked home loan redraw and thousands of dollars have disappeared says adj 27/4. Have been a customer for over 20 years I want MY money returned asap. Surely this is not legal.
Me Bank Cannot Be Trusted
ME Bank have swept up and taken customers' offset account savings without permission or warning. And as if that would not have been bad enough, they have done so in the middle of the Coronavirus pandemic. Once I would have sung their praises but now in my opinion this Bank can no longer be trusted. I am lodging a formal complaint to the Banking Ombudsman as are many other customers. I recommend you choose another bank to do business with. I will be.
Questions & Answers
Why was my post Help for the dissatisfied rejected? It was an honest attempt to give people a path to making contact with ME Bank. A reading of the Reviews shows lack of contact is a major problem.
I have rescued my money from ME Bank but cannot get a response to my request for any interest deposits due after leaving or, more importantly, cannot get a statement of interest earnings for 2019 -2020 year. Last year ME told me it had advised ATO. It had not and as a result I had great trouble from ATO. Is Me not communicating because it is under investigation by APRA or is it in danger of failing? Other banks still respond during Covid but not ME
All I can tell you is my experience has been nothing short of remarkable. I’m sorry to hear your experience.
I’ve been a loyal customer for over 20 years and been constantly underwhelmed by such a backward-looking, out of touch and myopic institution. However your latest fiasco plumbs new depths in contempt and arrogance. While you may still have a financial licence to operate, you certainly don’t have a moral one. Time the CEO took all of his management team on a serious navel-gazing retreat and figured out a way to reinvent itself as an institution of choice rather than one many of us grudgingly tolerate.
Rang me and have reversed this decision. I am assuming due to the change of conditions without notice. I expect a letter next week with giving a weeks notice and the same to happen again. When we got our loan were told we were going to have an offset account. Now I am told it is only a savings account. Tried to explain to me that I was confused like a lot of the customers. I am not confused yet again conditions were changed. I know the difference between re-draw and offset. This breach of trust is disgusting.
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