Useless App and bank
The app is useless to navigate, hard to do anything.
They also will not allow useing a pin code on more than 1 device.
I use a tablet and phone for bank. Cannot use a pin on the tablet because of there stupid security rule.
Transfer money from racq to another bank takes forever.
Useless bank. Avoid it
Racq bank cairns central
Walked in on 13/18/19 attempting to deposit cash into my bank account. First impression walking into this branch - Noelle (customer service) no greeting or a smile coming from this soulless person she definitely made me felt unwelcome, I'm not sure whether it's the colour of my skin but, I was quite friendly with his person. She couldn't help with my inquiry and not even a good bye or have a nice day. If racq cannot provide basic customer service they wont be getting my money in the nearby future. Noelle requires much needed retraining on improving her customer service skills. No wonder a banking royal commission occurred in this country. Please dont bank with this branch.
Rate rises for existing customers
This bank has no loyalty to existing customers. Do not go fixed with them if you can avoid it, so you can leave when (not if, because they will) they pull their dodginess on you.
I joined RACQ Bank in June 2018 as they had a very good rate of 3.62%. This increased to 3.79% in May 2019 while they were advertising to new lenders at 3.69%. RBA rate cut happens in June 2019 and to their credit they pass on the full rate, so I get down to 3.53% while new lenders get 3.44%.
The loan set up process was also really difficult, you need to be on top of your game and know your calculations because their systems aren't as mature. I've had to question & correct details on my finance multiple times.
If my home loan wasn't locked to these clowns I'd have left long ago - AVOID!
The online banking & mobile app makes me dread doing simple things like bill paying and account balance checking - it's truly horrible to navigate and difficult locate information, needlessly cluttered with advertising for products (like PayID). Service ok but definitely worse since they absorbed QTMB - less customer focussed and personal, more about squeezing cash out of us and tweaking things to make the experience more like the banks we all despise. Rates are no better that all the rest, fees have been changed with confusing explanatory le...tters apperaing to notify us of alterations that we then have to call, to clarify. ATM access is average. A company specialising in the dying roadside assistance game (and of course the beloved insurance industry) bought out a small credit union that I used to love - I now long for the day my loans are paid out and I can escape ANYWHERE else. TLDR; avoid this bank.
If you like incompetence... this is for you!
We decided to go with RACQ as they offered a competitive product for a new home loan. At the start, it all seemed fine and normal. However, it soon became very clear they were unreliable. The mobile lender we were using did not actually get anything ready! We were two days out from from the due date for financial confirmation for the house, and the dude had not done anything! Had to scramble and call and ended up with the team leader who had to drive to our place at around 8pm with a JP to get the documents signed. Note: we had been chasing up...the lender for over a week as the due date approached. Then they did not pay our builders on time, poor communication in general, unhelpful staff. I have found the banking side lacking organization and processes. Has been way too stressful dealing with them. Do not recommend.
Recommended for value and service
We have been with RACQ bank for a number of years. They have always been very helpful and their rates and fees are very competitive. Would recommend them to others looking for a bank who cares about their customers. Branches are in limited locations but that hasn’t been too much of an issue for us.
User unfriendly website.
Website is user unfriendly; information is not visible unless the user knows the system.
No information in the description of expenditure.
Fixed 9 character password which reduces security (they think it increases it)
Cash transactions no longer available at branch.
QTMB, the previous owners, had a great branch and a great web site. Such a shame RACQ is not able to continue the service.
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