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RaboDirect High Interest

RaboDirect High Interest

2.8 from 67 reviews

See the Best Savings Accounts in 2019 as rated by Australians on ProductReview.com.au.

Great Experience

I was almost put off joining Rabobank from the complaints on here but I went for it anyway.
I had no problems whatsoever. I suggest reading the T&Cs first so there are no surprises! (e.g. Yes - they do send you a Digipass to log into your account).
I found it quick and easy to join. I rang to confirm my current account was linked and got straight through to a lovely customer service rep. The Digipass arrived in 3 days and I had no issue using it.
Based on my experience I would recommend.


Warning! Life is too short to use Rabobank!

When you open a Rabobank High Interest Savings account they send you a little device called a Digipass. From then on whenever you want to complete any transfer into or out of the account you need to go through an eight step process using the digipass device. 8 steps... 8 steps. Unfortunately the online software has a bug in it. Do you want to trigger the bug? Do this: enter a description of the transaction which includes a punctuation mark. Even if you edit and remove the punctuation mark the transaction will fail.
Using the Rabobank digipass system is like being transported into an episode of Dr Who. It's bizarre!

Life is too short to use the Rabobank digipass device. Choose another bank and go for a walk or run in nature with all the free time you will now have.

Problems with online banking

Since they changed from RaboDirect to Rabobank I've had problems with online banking. Quite often it is impossible to login as their server does not response at all or I get "error, we try to fix it" message whatever browser I use


Poor service

Avoid at all costs ,can't provide me 12 month savings statement for tax till the end of the month. After being on hold for 45 min.Not sure what planet there on ?


Offers higher interest rates than its larger competitors – but ...

Banks. What's to like about them? But we do, unfortunately, need their services – for now.

Rabobank boasts some good interest rates, but it also boasts some terrible customer service. At times, you have to jump through a series of ever-tightening hoops to get some basic requests met.

For instance, their online platform is painfully slow to access, with multiple uses of their ridiculous digipass, just to do simple transfers, even within your own internal accounts! And their website lacks many necessary functions, such as standard ATO-approved statements for term deposits, for when you need your SMSF account audited. Under such circumstances, you have to call up and navigate their convoluted telephone banking system, just to order a basic statement for your term deposits. This can quickly turn into a surreal and unwelcome situation, resembling a visit to hell.

Oh, and if your digipass's batteries run out while you're in the middle of an important transfer to access your funds ... God help you.

Rabobank has also changed certain rules without warning, asking me to have documents certified again (and again) by a JP for no good reason. I believe the bank does it just to irritate its customers, as it holds their money for ransom, like any good mafia institution. Yes, until you meet their capricious demands, they won't release your funds. And it has nothing to do with security; it has everything to do with big banks and even bigger governments making your life a tangled bureaucratic nightmare, to subtly remind you that your money is never really your money once it's in a bank.

So as usual in life, one is faced with a Catch-22 dilemma. Yes, Rabobank offers higher interest rates than its larger competitors – yet this deal with the devil comes with many, many sticky strings attached. And the bank embraces a disturbing trait of being fickle with its rules, policies, and behavior. And this scares me. A lot.


Poor customer support. Avoid if you us data feeds to accounting software

I have been a Rabodirect customer for many years. Following a recent "upgrade" they no longer support direct bank data feeds to accounting software. Customer service advise that there are no plans to make this available to the commonly used accounting software.
Also 3 calls today have all had wait times greater than 20 minutes.


I have had various Rabo online accounts for 8 years and am happy with The service.
Competitive rates and transfers work perfectly well. I transfer money in and out weekly. Digipass provides adequate security .


Very Happy

3 Accounts for 2 years and no problems. New website easy to use and every transaction has been smooth and easy. Digipass is clunky but great security.
Highly Recommend Rabo and it's high interest accounts


Don't do it! Cannot deliver on the most basic requests. Really difficult to use - no digital capacity.

I would not recommend Rabo. Phone wait times are 20 mins or longer. Staff do not follow through. Statement request to Julia on Tues was still not received by Friday. 3 phone calls in total as statement arrived with password protection however no password was provided. Each time you log in you have to use a little machine to generate a password to login. Wow, its like the banking system of the 1900's! Closing my account shortly...no amount of interest is worth such a backward service. There should be warning signs from companies recommending these guys.


Their App wasnt working and so I called them on a Thursday and arranged a transfer of funds over the phone. ID confirmed and everything supposedly OK. No money transferred by Monday so I called them back and they hadn't actually transferred the funds but I was told by the person on the other end of the phone that "everything was within their quality of service standards", which are clearly very low!!!

Account closed!!!!!

Closed my account without permission

I was generally happy with Rabo as their interest rate are decent, though the digi pass is annoying and clunky to even log in. However, I recently asked them to close an unused account only to log in a week later and find they had closed the other account I had that I was still using and had certainly not requested be closed. I had automatic transfers to that account and am now without my money until it bounces back. And their customer service isn’t available on the weekend so I can’t even get talk to someone to sort it out. I’m moving all my funds to another institution.

Great Rates and Great Customer Service

Great Rates, overall there's always a good product in the market. Easy to use DigiPass system that keeps the banking secure. Customer Service is always reachable and very simple to deal with.

Good luck trying to transfer your own money out

This bank is freaking shocking. Trying to transfer my OWN money out is a nightmare. It is MY OWN MONEY.... yet they make all the hurdles possible to stop you.

As bad as the big banks.

It's my money, they make a profit out of it, but I can't transfer it the way I need.

It's MY money, not Rabo's. Customer service unhelpful.

Digipass is blast from the past. Get real.

Secure and good investment

I have had a Notice Saver account with RaboDirect since I was 17 (got my mum opened on my behalf) it’s been 6 years now and I honestly cannot complain. The interest rates stay competitive despite being decreased a few times over the years, and I actually find the Digipass really useful as a security measure. Even if someone managed to get my username and password they couldn’t log onto my account without the device so it is virtually impossible to be hacked which makes me feel very safe about entrusting the bank with my money. There was an attempt on my account at another bank awhile ago where someone tried to use it to make a payment and the bank was able to notify me so I didn’t lose money but I would prefer that not happening in the first place. I just keep the thing where I keep all my documents so I always know where it is. Plus with the mobile app you can just register with the pass once and then do all your transactions through the app afterwards so it’s not like you have to carry the device around with you constantly. I don’t think most people will have trouble with the pass with just a bit of planning.

Notice Saver Accounts the least accessible best product on the market

The rabo direct notice saver and associated high interest account make me both fuming mad and love a bank at the same time. I HONESTLY love the notice saver product. But the infuriating digipass requirement has made this account obsolete to me from a practical sense. I have no idea where it is and my primary reason for loving the account as it allows you to save for travel and then have an income while travelling by setting up regular withdrawels. Basically it is the most undermarketed perfect millennial account ever that has the most ancient unpractical access requirements possible without only offering branch banking. If it was accessible by an app that didnt require the pass (because I am now locked out as no pass and so can't set up app on new mobile - imagine if that happened while you were overseas or travelling) I would honestly give it 5 stars.

Always best rates for TD's

My wife and I have used Rabo TD's over a decade now. Always considerably ahead of the competition on rates. Dont mind the Digipass, just another layer of security. Can't understand the negative comments, suppose some people are impossible to please.

Awful service

Just encountered such awful service so I will be closing my account with Rabodirect. Very disappointing. If you value an effortless customer experience that is friendly, doesn't waste your time and fulfill requests when needed, you will not get this through Rabodirect. Other online banks do a much better job.

Good so far

I recently opened a HISA and I agree with others that the DigiPass thing can be a bit irritating, because its not just used for logging in, but also to change your details as well (other banks just have SMS security).
But... I agree with what someone else here has said - its a savings account that your money sits in and the interest rate will really help your savings to grow which is awesome!
Had a small hiccup with customer service when I first opened, but got it sorted out quickly with no further problems.

Very happy with this bank.

I can't understand the poor reviews on this bank. My experience with them was great. I needed to shop around for a place to park $$s and their High Interest Saver offered the best, short term interest returns. The little silver device they send you, via which you log in, is a bit clunky, but the upside is it gives an extra security screen - which I'm prepared to jump thru a few hoops for. Being an older investor I needed to ph customer server several times. They have a free 1800 number, it was always answered pretty fast and the Australian ph consultants we super helpful every time. I went on to open a Premium Sav account after the High Interest account had run its time. I've moved $$s in and out of both these accounts at fairly regular rate and no hiccups there. All good.

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Questions & Answers

I need to operate my account but the site has been down for at least four days due to 'maintenance' issues. I get that you are changing to Rabobank but could do with more information on the process. No reply as yet to my email and I need to apply for a transfer of funds. No telephone response either. Will contact consumer affairs if the matter is not resolved within the next 24 hours or I at least receive a satisfactory answer.
No answers

Why am I having so much trouble getting into the site to log on? This is a recent issue. Tried a couple of other search engines, however prefer to use Crome. Frank
1 answer
Hi Frank, We’re sorry to hear you are having issues logging in. If you can give us a call at 1800 445 445 Monday to Friday 8am-7pm AEDT, one of our friendly Sydney representatives would be happy to assist. Thanks The RaboDirect Team

I noticed that various people are dissapointed with RABO's response time to issues. I wanted to become a customer so twice now I've used their online email asking a simple question. But the only response has been an automated reply promising to respond within 2 business days. I am still waiting but my time to become a customer is quickly evaporating. A pity realy!
3 answers
Apologies on the trouble you’ve had in getting a response from us. We’re receiving higher than usual email and call volumes. To improve customers experience we’ve made a few changes: • We’re reviewing our auto-response to reflect a realistic response time. It can take a little longer than 2 days to get back to you with our current volumes. • We now have dedicated people on our emails to get us responding to you quicker. • We’ve implemented an option when you call us to request a call back. We get you have things to do so we’ll call you back :). We’d love to talk to you, so give us a call on 1800 445 445, 8:00am to 7:00pm, Monday to Friday.”Lets see if there is any kind of improvement when I test the waters again. Potential customers desire to get accurate and timely responses from RABO.Well they did respond within 2 business days to a simple question. I have asked a few more questions to clarify some confusion as to accounts that are created on first signup. Hopefully they will again respond in 2 days.


RaboDirect High Interest
CategorySavings Accounts
Release dateOct 2008
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