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ME (Members Equity) Bank

ME (Members Equity) Bank

2.0 from 581 reviews

Unbelievably bad

I have just sold a car. I am holding $14,000 in cash. There is no facility for ME bank to receive this money. None. Their suggestion open an account in another bank and transfer across. That is complete nonsense. Australia Post is their agent and will only accept $3000. It’s time to find another Bank. It’s no longer the bank for me it’s the bank for someone else and I suspect the bank for fewer and fewer people.

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Review TypeGeneral Transactions

Deceptive Advertising

They were fine on the phone and the ad they wrote sounded great!
Unfortunately they advertise that their savings account gives you a bonus if you use a pay wave once a week, but that account does not HAVE a pay wave card. You must open TWO accounts and keep transferring between them. If you are young and trying to build savings, that is fine...if you like the transaction account.
For those of us who live on our savings, it is far more hassle than it is worth (many better options out there with just a single account)
I was told that they will mention to the management team...we shall see!

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Review TypeNew Account

Great bank

Customer for 13 years and they have been great. Good technology and very responsive customer service. I’ve looked elsewhere over time but these guys are actually pretty good and worth sticking with.

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Review TypeATM Experience, Credit Card Application, General Transactions, Loan Application and New Account

Customer for 3 years and totally satisfied

I have had an ME online account for over 3 years and cannot fault the service. I have found the phone service to be exceptional and the interest rate to be one of the best available. I am amazed at the amount of negative criticisms on this site and also the inaccurate comments. When using the Everyday account ME are fully aware of the date the card was used and don't penalize you for late presentattion of the transaction by the merchant as someone has stated. I will continue to refer family and friends despite all of these bad reviews.
Dennis Jackson


Poor experience

We have been loyal Me bank customers for over 15 years, 2 investment loans and a home loan (2nd one with ME) paid off next but not discharged, 50k in a ME savings account.. Considered high income earners with excellent credit rating.
We recently sold our family home with the plan of renting for a few months while we found our next home, ME insisted we had to pay more equity into the investment loans based on old valuations, unfortunately we had let ME let the loans up this way - never again.
I explained to ME that this didn’t suit our investment strategy and we wanted to keep 800k for our next property, this money could sit in our ME bank and our new 400k plus loan would be with ME.
ME insisted we pay 120k into the other loans on settlement, the girl doing the loan discharge was black and white and would not discuss options.
I asked for new valuations on each property which she reluctantly agreed to, fortunately this decreased the amount we had to to a total of 35k to give us 20% equity in the investment loans.
We Bought a new house within 4 months, took out a loan with CUA and plan to transfer the other loans and close all our ME accounts when the fixed rate period is up later this year.

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Customer Service
Review TypeLoan Application

Disappointed with service. .

Been with ME for 15+ years had three mortgages over 4 properties. Would not decrease interest rates to match other banks so took mortgages elsewhere. They are also VERY slow at transferring funds into your account. E.g. 10 working days for a bank cheque to clear! Only give them one positive they have best interest rate on a savings account with no hurdles to jump through such as min. spend or no withdrawals

Review TypeGeneral Transactions

No customer service

I have been a loyal me bank customer for 30years +. I have had three mortgages all paid and settled with them. This third mortgage I asked to have my payments changed from monthly to weekly. Well you would think I was asking for gold. I have always paid weekly. It took a ridiculous three goes to even chat to someone online and when I did get someone he told me to go to my own bank and set up a recurring payment into the account, except that doesn't work I cant set up a recurring amount to skip one every month when the bank decides to take out the monthly payment due. However he did give me a smile emoji when he told me this advice almost felt like he was being a smart Alec. There were some other issues when I first set up this new account in December but I decided to ignore them and give them the benefit of the doubt. That was my first mistake and I have a feeling that as I continue with this bank I am going to perpetuate that mistake. Me Bank used to be amazing and that why I have been so loyal but they have changed. Also forgot to say the chat person also cancelled the discussion I assume that is now how they treat their customers perhaps they should remember that they have jobs because of us customers !!!!!

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Review TypeGeneral Transactions

ME is a great bank

I have been with ME for over 20 years and have never had any problems that weren't fixed but a phone call. We have had housing loans, term deposits, credit cards, savings accounts and they have all been problem free. Their internet banking is ready to navigate. We have never needed a physical branch. They keep their costs low because of this. I am very happy with your products and services.

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Review TypeGeneral Transactions

Bonus rate while overseas - how is it handled

Just opened up an internet account with an everyday linked to a saver acct. The 2.85% which includes the variable bonus rate (providing you tap & go once a week) - is the attraction. We are travelling OS for most of July and when I asked how this would work - I was told to call up on August 1st and they will see what can be done. I asked for something in writing and was told they have nothing. They expect blind faith - I have no confidence in this. Knowing how process driven the banking industry is - I find this a little concerning. Any feedback?

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Review TypeNew Account

Unbelievable incompetence

Had been a customer for two years. When I asked for change of color of Mastercard it took three goes to get right despite assurances from the beginning. Totally unreliable and don't seem to care. Have changed getting superior rate and easier to get bonus rate - faster more professional service. Would have been happy to stay but bad treatment drove me away.

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Review TypeCredit Card Application and General Transactions

ME Bank Forget It!

I use tap and go but have no control over when the merchant presents payment. I use at least weekly, but they don't give you the bonus rate if the merchant does not present payment withing the week. I am transferring to something else that just give me a rate without all the tap and go fiasco.

Review TypeGeneral Transactions

Poor Service

I have been with ME Bank for over 10 years. My main problem is with their process and time lines for depositing a cheque. Normally it takes 3 days for a bank cheque to clear. Not with ME Bank. You have to deposit it into Australia Post. Australia Post told me 5 days. I deposited my cheque on 9/5/2019. The cheque has still not cleared. I rang the bank yesterday and they said it could take up to 10 days meaning it may not clear until 24/5/19. They blamed Australia Post but I rang Australia Post and they blamed ME Bank. Meanwhile I have a cheque which I cannot access. I rang the call centre and after a long wait they were not helpful. Poor service. This is causing me financial stress but the bank doesn't care.

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Review TypeGeneral Transactions

Recent Experience Has Stained My Mouth

Firstly before yesterday I had been a proud supporter of ME for over 15yrs. There were a few hickups throughout that time, but I was prepared to forgive and forget and keep recommending to family and friends.

All that positivity has gone.
Thoroughly disgusted with their recent behaviour.

In the past I had always felt they were basically on my side, advising me on the accounts I had or passing me onto people within the team that could advise me to better manage my money. I was happy and learnt to trust that they were always going to tell me the truth.

Sadly I don't feel that way anymore, due to an issue over my old Term Deposit account.

The team member I had spoken to me Failed to tell me that the Term Deposit account that was about to expire was special as I had started it before their policies had changed. I just thought if I had let it lapse while I look at other interest rates I could go back to the same (not knowing terms and conditions had changed 3yrs ago). They had quoted me a special rate, which they had always said in the past, that I had 5 days to take the offer, which I found out wasn't the exact truth either.

When I tried to clear this problem up I was totally disgusted by the way in which I was treated.... Needless to say I No longer feel Heard nor do I feel like They Care about Me as a valued customer.

I will No longer be recommending them to anyone and now I am forced to rethink my investments with them.

My complaint will not just stop here. I will be making a formal complaint. I am thoroughly unhappy and shocked with the communication I received yesterday.

I have gone from feeling total Trust towards ME to now Empty and Annoyed and rethinking my investments with them.

I had always felt like they treated me as a valued customer, where as now I feel like just another number.

I Am Not Happy.

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1 comment
Hi Starz, thanks for being a loyal customer to ME over the years and sorry you've gone through this. I'd love to look into this more for you and to provide an overview of what has happened. With our Term Deposits we have never had an offer where you can keep your old rate as rates are always changing. Feel free to message ME with your mobile number by creating a ticket and I'd be happy to do a thorough investigation - Thanks Jono

Very frustrating exercise, should have read these reviews first!!

Currently with Westpac, recieved a email from my super fund advertising ME Bank have $0 yearly fee and low interest credit cards, they also offered 55 days interest free which is the only bank that does this. I thought I would prefer this deal compared to a $75 yearly fee and 20 odd % interest, not that I let it go for that long that I need to worry out it. I applied online, answered all their questions, they said it was a quick and easy process, then a few days later received an email saying I needed to supply 2 recent pay slips, fair enough so I did straight away. A few more days went past and received a call from ME Bank, the operator their said they need 3 months worth of your bank statements to see what you have been spending your money on....I questioned them why but they said it was part of the process....um really, apart from owning our own house which I told them about, we have plenty of money in the bank and it's not your business to see what we do with it....anyway, I blacked out all my account numbers on the statements and sent this through. Received another email again today to say that they have declined my application, I guess they didn't like me protecting my personal details, which is fine by me, their loss.
Just be careful with this bank, I should have read all these bad reviews before applying, I feel nervous now that I have supplied them all my personal details, who knows what they do with them and who they really are!! What a waste of time.

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Customer Service
Review TypeCredit Card Application
2 comments
Hi Navman, I am sorry to hear you've had to jump through so many hoops. I'm afraid as a credit provider we're required to follow the responsible lending laws which requires a bit more info and evidence than previously. This is also to give you the best chance possible and to ensure we don't put you into a worst situation. If you'd like ME to follow up on the application feel free to create a ticket with your mobile number and I will take a look - Thanks JonoHi Jono, thanks for the reply. I wasn’t in any bad position to start off with, so glad I didn’t make it worse joining up with ME. Definitely not proceeding with the application looking at all the bad reviews...it’s not like there’s only a few, it’s the majority of feedback which surely tells you something....probably best to focus on fixing that before giving me your responsible finance blurb.....just for your info I received a letter from ME yesterday, it said it large bold letters that my application had been declined...didn’t think was appropriate considering you already told via email....great to see your company likes rubbing your non customers noses in it, save the paper in future and don’t bother. Thanks again for your response

Best deposit rates available

I use ME bank for my On-call and Term deposits. For years they have offered the top deposit rates. The on-line interface is clear and simple to use. They provide a tap&go debit card for paying in stores. I hve had no problems with BPAY or direct debits. ME provides a simple service that meets my needs.

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Review TypeGeneral Transactions
1 comment
Hi OldHarry, thanks for leaving ME some feedback. It's great to hear you are happy with what we offer and we are always working on improving processes and our systems so it should only get better - Thanks Jono

Worst Bank Ever

I have been with this bank for 7 years
I have 2 mortgages with this bank since 2012
They keep increasing the interest rate, since last 6 months, 2 times my interest rate gone up from 3.9 to 4.65 .
Terrible customer care, they offer cheap rate for new customers and then they increase their rates.
BEWARE this bank offer you cheap rate but after short time they keep increasing rate
Good news : I’m out and refinance with other bank

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Customer Service
Review TypeLoan Application

Behind the times

I object to Me bank holding onto my money for 2-3 days before honouring my BPay payments. I have a Westpac credit card and keep getting stung for being over my limit, even though I have made a payment from my Me savings account days beforehand. Not acceptable in this day and age.

Review TypeGeneral Transactions

Changing banks again soon for sure

I have been with ME for a couple of years now and have reluctantly decided it is time to move banks. I hate the big 4 and also the interest being paid on savings was a huge bonus. HOWEVER there are too many problems that annoy the hell out of you and if you call they have no explanation or cannot remedy the problem. Some examples: every pay pass I did it was done twice, so a charge of $50 became $100 and very quickly I was overdrawn. A glitch they said. But it kept happening for a week or two until that was sorted and in the meantime I had to keep moving money around and phoning them. When I did my tax the statement up to the end of the year was not available - nor was it for about another 3 months. I cannot make or receive funds from overseas accounts. Recently and the final straw - the BSB has been changed and I did not know. when I phoned up ? Yes, we have changed our BSB number but for now we are still supporting the old one. Their banking is so scary that I can only wonder what you would go through if you were brave enough to apply for a home loan.

Customer Service
Review TypeGeneral Transactions

Not ready for the 21st Century

I joined ME bank hoping go with something more ethical instead of using one of the big 4. But in my opinion they are totally unready for the 21st Century. I’ve had several issues accessing my money and a lack of 24hr support during a time when you need to use your card but can’t or don’t have a feature for cardless cash is quite disappointing along with regular issues with the app. I’ve been with them for around 6 months, but really aren’t for me. So I’ll be changing again soon.

Customer Service
Review TypeATM Experience, General Transactions and New Account

ME BANK Charge a fee for you own money on credit card, Bankwest does not!

We had excess money there went into our credit card limit is $2000 so we deposit extra, when we did withdravel ME BANK want a fee $10-20 each time? I was explaining Bankwest did not charge! Another thing ME BANK have in the past in the credit department promoted the seller in a dispute. twice? after to agree with you when you want to take it to the banking ombudsman!

Customer Service
Review TypeATM Experience

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Questions & Answers

Do you have a branch in Hobart?
No answers

What is the processing timeframe for a personal loan once offer paperwork has been returned .
No answers

Can I ask /request Bank Certificate from my Bank Members Equity? With specific amount from my equity ? Help pls!
1 answer
Have you asked at the bank Thats the only way you are going to get the correct information

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