AVOID AT ALL COSTS
Rams is by far the worst bank or company that I have ever dealt with
They do not deserve the 1 star, if I could I would of give 0
Behind in every criteria
Its takes days for any transfers to go through (sometimes up to 5 - yes, that even if its someone that you transfer money to every single week). It has actually gotten slower the longer I've been with them. No VISA or Mastercard option, so you can forget completing any online purchases with their card. Zero technology on their website, in fact its got some areas that are a bit faulty. Not user friendly.
I originally changed to them because they had better savings interest rates but that was short-lived.
They literally offer nothing that someone else isn't doing better.
These days you've got banks with instant transfer, budgeting technology, VISA, and better rates. What the hell are you doing Rams?
Good, though rates have dropped
I had a RAMS saver for a couple of years to build up savings. I opened the account as it had a very good rate (with easy conditions).
Their website is fine, though their statement dates are not in sync with the financial or calendar years.
Their call centre were easy to contact, and good to deal with when I had to.
Unfortunately they recently dropped the savings rate to a point where I wouldn't open an account with them.
Cant access my money
Rams savings ATM limit is at 1000 bucks a day not negotiable can not change that and can't withdraw on any Westpac or st George so pretty much useless saving account if you wanna access your money.
Dropping behind on savings rates.
They used to be at the top of the pile with savings rates, but now dropping behind. In this environment of low rates punishing savers, people will jump ship to another bank for an extra 0.25%...why not...no loyalty anymore, and it only takes a few minutes to set up a new bank account. I had $400K with them only 12 months ago....now my account with them has 0.75 cents.
Only one star because the people on the phone were pleasant.
Opening the savings account was easy. However the internet application and mobile app failed to show the right amount of money in the account. Multiple phone calls failed to resolve the situation.
Closing the account took about 30 mins and they were not able to do an electronic transfer of the money in the account - another failing. So now they are sending a cheque to me and have closed the account. Therefore my money is now inaccessible until the cheque arrives. This has been the worst experience with a savings account I have ever experienced.
DO NOT USE!
So unorganised and confused organisation
I tried to open a saving account two weeks ago. They said my identity is not verified and they asked me to go to a branch with a form and identifications so I did it. After a week they called me again and asked for a picture of my driving licence (already provided at branch) and I emailed it again. Still not resolved!
Update: Resolved a week later
Very high interest rate if you don't withdraw!
Small bit of research did not find me a savings account with a higher interest rate than this, both the bonus interest rate if you don't withdraw, and the standard interest rate. Great app. I have not had to use their customer service yet (a good thing I guess) so I can't comment on that.
Good Account APPALLING service
Potentially a good high interest account BUT problems abounded.
The right hand didn't know what the left hand was doing. Mixed and differing letters and emails.
Appears not to be user friendly with investors (savers) as opposed to mortgage holders.
No follow up on customer complaints
Would not recommend at all
Would not recommend. Pulled all my savings out of here as I had a recurring debit coming out and inquired with them whom it was. Their response was "a debit you've authorized". After explaining I wasnt aware of it could they tell me the account name they said no. I asked them to block it and it was so difficult i just pulled all my money out. He just closed it for me no worries without trying to save me as a customer.
Cant get online with safari after upgrade
When will this broker issue be fixed as I don't like having to re start my computer and use another server. I joined rams as it was easy now it is not. feb 2019
In the past 3 months I have had duplicate transactions and missing transaction
At the end of 2018 after they 'upgraded' their web site I had lots and lots of duplicate transactions I identified which I brought to their attention and then they were then fixed. In early 2019 I noticed a missing transaction (my salary - who doesn't miss that!). The balance appears to have been correct the whole time but not the transactions. For example in December I would see two credits of $5 for the same thing but my bank balance went up correctly by $5 for one of them and didn't increase for the other one. When transactions were missing ...in early 2019 I could see the balance changing by more than the transaction. When they reset my account I could see that in fact three transactions were missing over the past week. I am told it's a known issue they are working on but can't advise when it will be fixed. I have never not been able to rely on a statement for a bank account. The first time I called the guy suggested leaving a message at the end to record the issue to maximise Rams being aware of the issue. I tried to do that and got a message that the mailbox was full. The people you speak do try and be helpful but the technology needs fixing ASAP. You don't know if people have paid you, it's impossible to budget properly etc.
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