MyState Bank

I have had a Bonus Saver with MyState Bank for several years. What stands out is that you can meet the bonus criteria every month and withdraw money if you need to do so. You have to deposit $20 per month to the Bonus Saver account and do 5 card transactions with a linked transaction account, Glide. Now MyState Bank have a new account called… Read more

"Hello Saver" that has no bonus conditions. I have just opened one of those accounts. You can also pay bills directly from the "Hello Saver" account. The standard interest rate is the same as the Bonus Saver rate but with no hurdles to get the interest rate. The only negative is that "Hello Saver" account has a balance limit of $100,000 to earn the rate, currently 4.25% pa. Any balance over $100,000 will earn only 2% for the amount over $100,000.

Have had many bonus saver acs with a myriad of internet banks over the years. All of them have been a disappointment, changing the conditions for the worse, on what appeared to be a good ac to start with. My bonus saver ac with My State Bank is a shining exception. My bonus saver ac will have been with them 4 years in February, and they have never… Read more

changed their conditions, which are easy to meet. Highly recommend this product. My State Bank seems to get a bad rap. I don't know about their other services. Come to think of it, all the banks cop large numbers of negative reviews. Must be human nature. People happy with a product don't bother to put in a review. This bank continues to surprise with goodies. Besides the Bonus Saver, they now offer a Hello Saver ac @ 4.6% for the first 4 months, for new customers, then 4.25%, the same as the Bonus Saver ac, but only up to $100k. The most surprising thing of all, is that there are no conditions at all, and only one ac, from which direct debits, bpay etc can be made directly. Fabulous! Macquarie bank made a huge profit recently, due to its heavy investment in AI. It offers much the same as My State Bank, as far as bonus savers. I've never banked with them, but the reviews on product review put me off. It's growing so fast, it may have to be included with the big 4 banks, but it's really a merchant bank dealing in speculative investments.

Tried to open an SMSF account already have one with another bank..Left my details on the form for a callback from their team within 24 hours as you cannot talk to anyone else on their phone line..Well crickets a week later.Your kidding what a joke so I opened up a SMSF with Rabo bank online in less than half an hour.Guess who gets the 400k deposit .

Easy to open savings account which has a good rate for a no hoops account. Transferring money in and out using app is fine so far and supports NPP. Had to contact support by phone and did not have to wait long to speak to local person who were very helpful. Recommend them. Show details

When ringing the contact number, banking staff are answer quickly. Not like the Big4 Banks that can take ages. There are no foreign accents, so staff are easy to understand. The setting up of an account for another person, under Power of Attorney authority, is time consuming. If there are two POA's to action, it further complicates processes.… Read more

However, once this On-line Bank actually includes such an account in their processes. I have found this on-line My State Bank easy to use. The verification processes reassuring. The Term Deposit rates reasonable rates.

Thank you for helping us buy our dream property – I'm really surprised to see all these bad reviews. Our experience with MyState has been nothing but positive. We were having a rough time getting a loan on a block of land. Several banks wouldn't even look at us because the land was vacant, or because the size of the block was slightly over their limit. Another bank gave us positive verbal… Read more

assurances, only to reject our loan application after wasting about a month of our time. They did recommend a broker at least, and he gave us more positive assurances, but he too gave up on us after wasting over a week of our time. This all really mucked us around and we were lucky to not lose the property outright.

Finally, we found a new broker (Nectar, who were excellent) and after several knock-backs from bigger banks, they secured a loan with MyState. The process was relatively painless (compared with our previous experiences), and MyState's loan, while not the very lowest interest rate out there, was still pretty competitive. If it were not for MyState coming through when they did, there's every chance we would have lost our property.

Our purchase was finalised in August last year. Since then, I've talked with MyState on the phone on two occasions. They were super quick to pick up the phone and the staff were very friendly and helpful. We couldn't be happier.

A very sincere thank you to the team at MyState for helping us buy our dream property!

Hopeless. The average 1.5 review for this shoddy and unprofessional mob is 1.6 stars too high. They are the cause of frustration in dealings with them. Today just set me off. Yesterday they blocked purchase of gift cards. After a few hours of running around with Cuscal (their 3rd party fraud squad) and MyState, it was discovered MyState had put on… Read more

the block. Assured block would be taken off "in an hour". Past dealings led me to disbelieve that optimism. I waited until today - 24 hours later. Again I entered MyState's texted code: Again the purchase was blocked. I spoke to Dean. He said he would lift the block immediately; I should try again; and he would ring within 5 min if the block remained. Entered Mystate's code again, payment was again blocked. Predictably, reliable Dean didn't call with a eunuch's excuse. I rang Mystate. Assured by Whoever I should stay on the line while the issue was solved: line went dead after 4-5 min. 30 min later, Whoever has not called back. 3 fails to use my account to purchase. Repeated fails to explain the problem. Continued fails to call back as promised. I need to buy these cards. Wonderful that a backward state like Tassie has its own bank. Wonderful that sisters, uncles, cousins, etc, are all employed in it: but do they all need to use the prayer room at the same time whenever there is a problem?

MT State Bank – Unacceptable Treatment of Customers MT State Bank closed my offset account after 3 months of “inactivity,” even though my mortgage was paid and overpaid every month. They sent notice to my old address, then closed the account after my new details were updated—without checking. Initially wanted $150 to reopen the account (after 25… Read more

mins on hold, they agreed to waive it). I’ve lost access to redraw funds despite consistent overpayments.

I will file a complaint with the Banking Ombudsman. Waiving the fee doesn’t fix the fact that treating customers like this is unacceptable.

am extremely disappointed and frustrated with the process, the lack of transparency, and the discrepancies between the approved loan amount, contract, and the funds actually received. Background: * I have been a MyState customer for several years and have always paid my mortgage on time, often paying extra. * I also maintain savings in my redraw… Read more

account to reduce interest, demonstrating consistent financial responsibility. * Approximately five weeks ago, I began an application to refinance my home loan for renovations. The refinance also included paying out my existing car loan. Issues: 1. Poor communication and delays:
The refinance process dragged on for five weeks, with multiple requests for documents in dribs and drabs. This caused significant inconvenience. 2. Incorrect loan amounts: * My signed contract showed a refinance amount of $78,000 approx plus a car loan payout of approximately $11,500. * However, upon settlement, my broker advised that only $11,100 was paid to my finance company and $76,000 approx to me. * This totals $4,000 less than the loan application of $80,000, and $2,000 less than the contract showed as payable to me. 3. Unexplained interest and redraw discrepancies: * My broker claims the $4,000 difference is due to interest charged — which is completely unreasonable for a single month. * Furthermore, my $2,400 redraw balance was taken and is allegedly “included” in the $76,000 payout. * This means the actual cash I am receiving is $74,400, meaning I am missing $5,600 in total compared to the agreed loan amount — yet I am being charged and required to repay the full $80,000.

MyState Bank are now outsourcing their unusual/ suspicious transactions to a third party,the bank's so called fraud team.l ordered groceries from Coles and got a message from them, hahaha. Show details

I have been with my state bank for over 30 years I signed up when it was the rock building society back then it was a wonderful experience and beautiful customer service. Now it's an absolutely disgusting experience my account was accessed of 120 it was pending on my account and couldn't stop it apparently and believe I agreed to the transaction I… Read more

only get a certain amount of money and what was taken was part of my rent money and now I'm out of pocket not knowing how to replace it. And what bank cancels your bank card and doesn't reissue a new one. My son also banked with this bank until he tried buying a car and couldn't and when asked how he got told to increase his account and still it would have to be paid in 3 amounts I can't access my account and all my stuff has been cancelled witch now is affecting my credit rating with these organisations please stay away from this rip off merchant as it will cost you everything

Did an application last week rang up 3 times and emailed never got a response from the email, and two of the calls have been a repeat. They came off to me as careless and slow, no even apology that my account wasn’t even made 1 week later mind you it says 24-48 hours and I have an application number so I did it right.

30 years absolutely pathetic I will be changing institutions tomorrow only good reviews are written by employees no help app is unusable and can't even understand the person on the phone when call and ait 20 mins to talk about it

Constant trouble logging into app – Ive been with this bank for probably over 5 years now with high interest savings and term deposit accounts. They have been competitive with rates but not usually the best, they would not match the current highest rate offered at other banks unfortunately. My biggest problem with mystate is their app and logging in. If i have no tasks to do thats… Read more

no issue, but if im trying to move money around or check accounts regularly, it often means i will lock my account and have to call them to regain access, sometimes unsuccessfully over several phone calls. I have had to call them at least 4 times over this summer. Sure, ive had issues with other apps in the past but I have 8 different bank apps and I dont call any others as often as I call mystate. Its ridiculous. Because of the app, I give 1 star.

Awful - block transfers, terrible customer service – Terrible, do not use for so many reasons, they monitor the description you enter for payments e.g. car, and will block the transfer if they cannot call you and confirm that you actually have seen the car and are in possession of it!! Unreal. Both my account and that of my wife will never be used again.

Use at your own peril they will waste your time – Very poor mortgage lending practice this bank takes forever (over 5 weeks) to process applications make sloppy mistakes ask for large amounts of information and make their own assessments of your skills and qualifications.Have no idea how to use ATO and ASIC information when searching employer information and rely on information from company… Read more

website that is shut down.After nearly getting to the finish line of pre approval yet another raft of questions.I ended the process went to a big 4 explained my experience and why it would show on my credit record ,response was a chuckle “yes small banks are amateurs in the lending game operate like their in 1974 when banking was face to face but trying to make it electronic”. In five days I had refinance on 1 property and purchased another at better interest rate than My State offered and much better term. Don’t waste your time with MyState with staff that just make excuses for their incompetence and a complaints process that marks their own homework with no independence. I now know why so many complaints on service appear as this establishment must burn cash by paying people and overheads to process loans but with no result not a great business model I would suggest.

Almost sabotaged my home loan – Got pre-approval based on payslips sent to the bank from my partner and myself for 510k. Found a house, put an offer down for less than the pre-approved amount, went back to the bank, requested final approval. All of a sudden this bank has "concerns that my partners pay is insufficient to service the loan". Yet I got pre-approval after having sent… Read more

them both our payslips? In short, this bank almost sabotaged my chances at buying a house. Went to St George instead and no issues.

If you want to lose money and time - this is your bank! – This bank makes money by making customers experience a nightmare. I have been banking with several banks in the past and saw nothing like this. If you want to lose money and time - this is your bank!

Couldn't Unlock my accounts – So disappointed I'm thinking of moving my money somewhere else. I got an email from MyState bank yesterday asking me to do a survey and I would go into the draw to win $100 into my bank account. I never thought it was a scam so I clicked the big green button that said (START SURVEY) and I got a error message straight away, after several… Read more

attempts to start survey I kept getting the error, so I contacted MyState bank telling them I can't do the survey, I was told straight away its a scam did you click anything in the email....(Yes I clicked the start survey button) ok I will block your accounts now and you need to take your phone to a repair shop to have it (cleaned), once it's cleaned call us back and we will unblock your accounts. So accounts blocked and appointment made for (device clean) and car full of fuel for the 2 hour drive and $50 aside to pay for device clean.

I called my bank again on the day I was going to be getting device checked and was told by a second person yes its a scam, get your phone cleaned and once we have a letter from the repair shop to say your device is safe we will unlock your accounts, in the meantime I'm waiting for my appointment time to rock around and so decided to contact the email address and phone number that was supplied by the 3rd party who was doing the survey. They were mortified to find out that my bank said on 2 occasions that it was a scam..........It was NOT a scam. So as it stands now, I cancelled my device clean it was no longer necessary HOWEVER MyState Bank can't seem to UNBLOCK MY ACCOUNTS, they said my accounts are unblocked BUT they can also see where I have been trying to transfer money to my accounts and it's being rejected by MyState Bank, so a supposed quick call to unblock my bank accounts is turning into hours and possibly days, I am not impressed because I was given wrong info on 2 occasions which has now caused a huge technical delay in them unblocking my accounts and I can't use them. Not very happy, very stressful at anytime but in the leadup to Xmas, it's twofold.

Blocked account - spying on payment descriptions – They spy on your transaction desciptions and block payments, I had one blocked with the description of "Car", apparently they had tried to get in contact with me and when they couldn't they blocked the payment. I have now emptied my accounts and moved the money to ING, AMP and Macquarie, which are all excellent. They have very low transfer limits… Read more

on these accounts. I am also very certain they deliberatly kept a block on my account, their customer service staff sound very young and have little experience. Please use ING, AMP or Macquarie instead.

Worst customer service I’ve ever had – Completely unacceptable customer service. This bank seem to think it’s a privilege to give them your money. They don’t deal with online fraud like other banks and have refused to refund fraud and actually blame the customer when their system doesn’t work. Although they make a big deal about only employing Aussies at their call centre it’s all… Read more

Indians who can barely speak English anyway. I’ve been with the bank for four years and they’ve recently got worse. Used to be ok now they’re obviously trying to cut costs. Worst customer service I’ve ever had

unscrupulous – Been with them a number of years, had a term deposit maturing so checked the advertised rate, filled in the form to reinvest the majority of the money and withdraw some. Form accepted, when old deposit matured there was no sign of the new deposit. Next day it was there but with a lower interest rate. After emailing they told me they can change the… Read more

rate any time, I said but you accepted the rate on the form. Then they said my deposit matured on the day they lowered the rate. Rubbish! my deposit matured the day before they lowered the rate! By a coincidence, they delayed starting my new account so they could give me the lower interest rate. Very unscrupulous. Frontline staff are great , love to know which financial genius came up with this ploy. So I closed the account, they lost a decent sized account over two things 1, not honouring an interest rate and 2, trying to be smart by not renewing my term deposit until the next day when the rate was lowered.

Poor service beyond belief – Don’t go there!! If negative star ratings could be given, this list would be full of them. What was once a local building society worthy of a 9.8/10 rating, supportive of the local community with progressive banking products and facilities, full of humans doing a great job, has been sold out years ago and is now an apologist textbook trading… Read more

shell with massive underlying issues. Now full of excuses and hinderances. No fully functional human could possibly inflict such poor service on anyone. “Evil” is even a lacking term to describe the way they now “conduct” themselves. Treating customers as a joke and destroying lives would be more applicable as a description. This “bank” should have all financial licences removed.

Drawn out transaction disputes are common – Disputing a transaction is a time consuming waste. I paid for a service that was to be provided on the day of payment. Never happened . I requested refund several times by best price travel company in Harris Park NSW. I have been dealing with My State bank now for 2 months as I reported it immediately and still no refund as they are “… Read more

investigating “, it’s pretty straightforward no service provided equals refund under consumer law guys ! THERE IS NOTHING TO DISPUTE !! If visa is not going to honour the contract of protecting their consumers under My State, then why should we be customers? This process is dragging on and on it’s ridiculous. It never used to be so drawn out. My money is my money.

Good Luck getting your money out – I had a substantial amount of money deposited with MyState, but when I tried to move some they blocked me from signing in or looking at my account, sent texts indicating my account was breached (not true), through every obstacle in my path, were rude, unhelpful, deliberately obstructive and wasted many hours of my time. Now I have access again but… Read more

I can't make NPP Osko payments, they appear to go through but always bounce back. They used to be great but now they are the worst to deal with, don't be tempted by the good savings rates, one they get your money they will do everything to try and keep it and not let you have it back.

Difficult External Funds Transfers and Account Closure Processes – I've been a MyState Bank customer for more than 12 months holding Transaction and Savings accounts. The banking experience has been ok except for two gripes with the product features: 1) Trying to transfer larger sums of money out of the account ; and 2) Trying to close an account. In terms of 1), the bank applies a tight restriction on outwards… Read more

funds transfer daily limit to external bank accounts ($5,000) which can be increased via online banking or app only to $10,000 . A phone call via IVR queue to an agent is required to life the limit to $50,000 . Furthermore, this is not a permanent limit . It lapses back to default daily limit after a few days (a have many other bank accounts and none do this). The bank's agent will tell you all these 'gotchas' but the daily limit policy is a big nuisance if you need to transfer larger blocks of funds from the accounts at short notice. In terms of 2), the Bank applies a very rigorous but laborious set of identity checks before account closure. For instance, even if you log into the web portal or app using multi-factor authentication methods - Mobile 2FA challenge and Biometric (strong authentication) - they still require signed forms and further ID and signature verification checks to have the account closed and funds transferred . Again, i have other bank accounts with large sums that do not put customers through this cumbersome set of checks when closing a account. I would NOT recommend MyState as a bank for depositing a larger amount of funds into their high interest savings accounts because of the product features - non customer friendly policy limits and cumbersome processes to transfer funds or close accounts.

Pathetic service from [Name Removed] – They bring out a new app with bugs!! And somehow your treated like its your fault. I have no access to my accounts and not a single person is doing anything about it. [Name Removed] “customer service” is pathetic at her job and has resolved nothing but wasting my time. At a guess i have been banking with them since 1996. Terrible terrible service. Pay day, last day of the month and can’t get a cent. Show details

Don’t waste your time with MyState bank – MyState bank lied to me when they stuffed up my home loan application and made me redo it that they would prioritise it the second time and it would take 3 days so I contacted them after 5 days and 2 days later they finally got back to me after I chased up with them multiple times and their response after all that waiting was extremely unhelpful. It doesn’t seem they want the customers anyway so don’t waste your time with this bank. Show details

Astounding dismal service – Their latest app update for a start....little warning to upload to brand new app before totally deleting old one Removed contact details so can no longer see from the list the payee details Cant delete old contacts Not user friendly at all And to top it off they've completely shut down the open banking service with ZERO notice hence cant upload… Read more

statements to potential lendees and lendees don't accept paper statements In this day and digital age who does this? Stay clear and moving away from my state.

Bunch of cowboys – 100% agree with all the 1 star reviews. Mystate is by far the worst bank I've ever dealt with. With a bunch hopelessly incompetent and rude staff. Save yourself the headache and go to a different bank. Show details

Incompetent staff and deliberately time waste – Staff are either trained to waste existing customers time to prevent them from shopping the home loan OR staff are completely incompetent. After we escaped their incompetency they FORGOT to bring the cheque to the settlement with our new bank. Just astounding. Do not use. Show details

Extremely rude customer service – Unreasonable requirements and rude customer service. I will take my $200k to a bank who appreciates the business. Read the other reviews here! Show details

Worst Bank In Australia – Worst bank service with unethical process They approve unauthorised transactions Dodgy bank. Bank with fraudulent behaviour Do not trust this bank at all. Show details

Use another savings bank – There is no clear indication if you have achieved the target goals for earning interest. You only find out when you don't receive the interest. There are many other better savings accounts available that are more transparent. Use those banks. Online banking with Mystate is mediocre at best. Customer service is fine. Show details

Hopeless!, Glenorchy Branch. No service for nearly 8 minutes then they serve sommeone who only just came in – Walked into branch and up to que line teller asked can i help you ( x2 tellers free), i let her know i needed to update account details and was directed the general inquiries counter. There i waited for about 8 min while a couple of people were served for withdrawls etc. X2 people forc1 person next to me for about 5min The guy helping another… Read more

employee for several minutes came out of behind the counter and took a call from an extrenal desk. Somewhere along the line a lady came in and someone from behind the counter came out to greet her and directed her to sit down. The guy then comes out confused at who was next, i said well im at the counter at the front of the line, the lady gets up asks a question and he starts serving her.

I left.

I have been i buisiness for many years, i would suggest they implent a system of service, learn it and use it so people waiting towards 10 minutes are served before those walking in waiting 3 in a seat out of any line.