Melbourne Victoria

  • 6 reviews
  • 3 comments
  • 1 answer
  • 11 helpful votes
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Verified Purchase

ANZ Online Saver Loyalty amounts to nothing! Churn and Burn Mentality!.

1 out of 5, reviewed on Jan 18, 2019

It is clear that the banks or at least the ANZ have learnt nothing from the Royal Commission and Customer Service. Its Online Saver for existing customers is a paltry 0.5% but new customers it is 0.5% plus 1.8 % bonus = 2.3% for three months. It is totally illogical as why the CEO of the ANZ Bank would implement such a change and disregard its loyal customers. As a customer of 30 years plus and a shareholder you are told by your bank manager that your only option is to find another bank. It is a decision of executive management. I can't help you. However be careful of the fine print, the 1.8% is only available for 3 months and then you will left with just 0.5% a month and thrown on the scrap heap (churn and burn). The ANZ Bank does not value customer loyalty, find another bank that will.

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  • 1 review
  • 1 helpful vote
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No bonus rate for loyal customers

2 out of 5, reviewed on Dec 29, 2018

A rip off. Bonus for new customers only? I thought old clients should not be disadvantaged. Why not depart?

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Melbourne

  • 1 review
  • 1 helpful vote
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Unable to extend bonus interest

1 out of 5, reviewed on Nov 22, 2018

Tried to extend bonus interest rate on ANZ Online Saver today but was told I could no longer do this as these accounts were for new ANZ customers only. So much for being a long term customer of over 20 years. I have been extending bonus interest rate on my account every three months for the last two years. Looks like I will be taking my money elsewhere. Very disappointed with ANZ service!!

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amazing!

5 out of 5, reviewed on May 24, 2018

amazing! love the service at this bank & the interest rate is so good, love how there are no fees involved and can do unlimited transactions

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Melbourne

  • 10 reviews
  • 15 helpful votes
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The worst experience ever with ANZ bank, staff have no idea what they are doing

1 out of 5, reviewed on Mar 29, 2018

They sent me an email offering me $10 monthly fees, when I noticed that they did not apply this discount I rang them up to point out the error. [name removed] from complaints told me that I should remain to Breakfree package and pay $395 annually in order to receive $10 off. Oh, really?!!! Mind you in the original email he never mentioned that condition, and it was not even a subject of discussion either. Lodged complaint with Financial Ombudsman Services as ANZ staff are liars and covering up for each other. Futile attempt to blame their ouw lack of professionalism on others. Utter disgrace!!!

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Melbourne

  • 1 review
  • 1 helpful vote
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You have to constantly reapply for the bonus rate

1 out of 5, reviewed on Mar 19, 2018

I have changed banks because I constantly have to ring to have the bonus rate applied. Don't open an account with ANZ, if you have one vote with your feet, they are taking you and your money for granted!

1 person found this helpful, do you? Yes

  • 1 review
  • 1 helpful vote
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Business Account

1 out of 5, reviewed on Mar 03, 2018

Hi I do have two business account one in common Wealth bank and other one with ANZ , the overseas clients process the payment on Wednesday...but I always get it on Friday with Common Wealth bank, but when it comes to ANZ it comes on Monday or Tuesday on the following week....terrible for business customers...they should learn from common Wealth bank.
Regards
Isaac.

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  • 1 review
  • 1 helpful vote
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I received a satisfactory result to a complaint

4 out of 5, reviewed on Dec 06, 2017

I opened an on-line savings account with ANZ. It had bonus interest applied, but only if you contacted the bank or went in in person to say you wanted it. I had no bonus interest for a year. When I made a complaint I was offered 3 months bonus interest. (An amount of about $500. ) I refused. The account had over $100,000 in it. An independent arbitrator offered me the full amount of one year's bonus interest, an amount of ($1500) . I accepted this. But I still have to contact the bank ever 3 months to say " yes I want the bonus interest"

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Lancefield

  • 3 reviews
  • 1 question
  • 2 helpful votes
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Beware!

2 out of 5, reviewed on Nov 03, 2017

Opened my online saver approx 4 years ago. A few days before my current offer expires I ring and ask for the introductory bonus rate to be re-applied and it has always been granted. However, a few days ago I rang as per usual and was told they would re-apply the bonus interest rate but I would receive 2.50% instead of the advertised 2.55%. I wasn't impressed! Today went online and discovered it had been re-set and I would receive 2.30% not 2.50% as informed. Rang again, person tried to fob me off but eventually granted me 2.50%. Bad PR ANZ I have gone from being an extremely happy customer recommending and singing your praises to being a dissatisfied customer who has lost trust in you.

2 people found this helpful, do you? Yes

  • 20 reviews
  • 11 helpful votes
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Verified Purchase

$5 monthly fee is ridiculous

3 out of 5, reviewed on Jul 03, 2017

I have one of there online account for a few months, the interface is ok definitely not the best for friendliness, needs bit of time to get use to. What l don't get is the $5 monthly fee, to avoid you need to deposit $2000 each month. Really not worth it.

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Adelaide

  • 1 review
  • 2 helpful votes
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I need 3 phone calls to have the bonus interest applied

2 out of 5, reviewed on Dec 12, 2016

When you ask for the bonus interest the ANZ applies it for a period of 3 or more months. When it expires you have to call them and ask for a new one to be applied.
My experience after 3 rounds of expired bonus interests:
- after the first call they say it takes 2 business days to apply it. But it won't happen.
- you need to call a 2nd time, sometimes you need to call a 3rd time.
- in the mean time they save 1-2 weeks on the bonus interest.
- And you wait 30min every time you call them.
Just the worst customer service...

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  • 11 reviews
  • 5 comments
  • 6 answers
  • 15 helpful votes
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The ANZ can't even do a simple rollover of an investment on time

1 out of 5, reviewed on May 10, 2016

They need 2 days to rollover, so robbing the customer of 1 or 2 days bonus interest. Just a few cents but the skinflints would still rob you! How low/cheap!

They told me I should have called 10 days before the expiry due! 10 days to do a simple extension? And anyway, when I rang 10 days before they told me to ring closer to the expiry date. Hopeless.

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Comments

Furthermore: Here I am 2 days later still trying to get through and have the ANZZZZZ load the bonus interest on my ONLINE SAVER account. The person I spoke to today hardly believed that "Jason" had... read more »

Sydney, Australia, NSW

  • 50 reviews
  • 18 comments
  • 109 answers
  • 39 helpful votes
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This is the best bank account ever. But Nobody gets it. Here is the best banking advise you'll get!

5 out of 5, reviewed on Feb 04, 2015

OK. Firstly I'm telling you to forget about the way banks have educated us to use their bank accounts. Its all a rort! They insist you must have an Everyday (transaction) account in which you pay all your salary and income and then pay all your bills out of that same everyday account (which co-incidentally pays no interest and most likely charges fees on top). They insist you must have an access card in order to use EFTPOS or ATMs to pay for your shopping and make cash withdrawals from this same account and maybe write the odd cheque. You are then advised to pop your spare money (if any) into the online saver where it earns much better interest. Sound familiar? Yes? Actually its all WRONG WRONG WRONG! That is what banks want you to do. However with ANZ's Online Saver you can do exactly the opposite! That’s because ANZ's Online saver is totally free of fees and pays the best rate of interest for a transaction account (yes it's actually is a fully-fledged electronic transaction account). So you get all your salary and income paid into the ANZ Online Saver where it earns top interest (calculated daily and paid monthly) from day one. You schedule all your bills to be paid (as late as possible but before the due date) from the online saver using internet banking. After all, aren’t you doing that already with your "expensive" everyday account instead? You get a credit card instead of an access or debit card to use for your everyday purchases using "tap and go" and have the entire credit card balance (optional) paid off on the due date via direct debit from your Online saver. So the only reason you really need an everyday account with ANZ is in case you need to make a cash withdrawal or write out a cheque. And because you must have one in order to qualify for the ANZ Online saver. So the idea is to keep a MINIMUM amount in your everyday account (few hundred dollars at most) and the MAXIMUM amount in your online saver and schedule all your bills (via internet banking) to be paid directly from your Online saver. I use the Bankwest Zero MasterCard because it has zero fees and I have the full statement balance direct debited from my ANZ online saver each month. You can also get free Mastercard/Visa credit cards from HSBC, Virgin Money, ME Bank and Citi bank. If you haven’t got one already throw away your ANZ credit or debit card and get a FREE credit card instead. Now for a free everyday transaction account you are limited to ANZ's access advantage account providing $2000 is deposited into the account each month. Well that’s really easy. Just schedule a recurring $2000 transfer from your online saver to your access advantage account once a month. Then schedule a recurring $2000 transfer back to the online saver a day later. Ha Ha! If you need to withdraw any cash, just transfer what you need into the access advantage account or schedule a transfer of less than $2000 back to your online saver each month. It’s that easy! Fee free banking with high interest from ANZ!

1 person found this helpful, do you? Yes

  • 2 reviews
  • 1 helpful vote
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Less interest than stated!

1 out of 5, reviewed on Mar 07, 2013

I had an ANZ Online Saver for three months. After the first month I checked the credited amount and it was almost 0.5% less than they said it would be. So I went to a branch and told it one of the ladies there. She then double checked my calculation and said it wasn’t quite right but according to her result, the paid interest was still 0.3% less than it should be.

That was just round $7 per month less but from a bank you would expect the interest to be calculated correctly. So the lady said the only thing she can do is to forward the problem to the ANZ online division because her branch would have no influence about what they do.

Within the following two months I asked twice for the outcome and whether they’re going to fix the problem. Each time they told me that they haven’t heard back but will forward my complaint again – and I’m still waiting for an answer...

In the end I found another bank that has the same service but pays even higher interest than ANZ, so I moved me money there.

+ A high interst account is handy to park spare money but there are banks which pay even higher rates.

- ANZ paid less interest than stated.

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  • 6 reviews
  • 5 comments
  • 2 questions
  • 2 answers
  • 6 helpful votes
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Be wary of the bonus interest offer

2 out of 5, reviewed on Mar 05, 2012

Current offer is 4.25% base rate plus 1.75% bonus interest, valid until mid 2012. It was as such at the time we opened the account, the representative telling us the bonus interest was effectively 'indefinite'. Have since had two months where the bonus has not been paid and customer service advises the bonus is only payable for the first three months of the account. Examining options for further complaint through external channels as this is clearly a misrepresented product. Steer clear.

+ Competetive rate, when paid as per agreement

- Product misrepresented, bonus interest only valid for three months

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, VIC

  • 169 reviews
  • 3 comments
  • 6 answers
  • 124 helpful votes
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Excellent

5 out of 5, reviewed on Mar 25, 2011

This account is brilliant! I love how its a 'no frills' account but it seems to do everything I need it to do! I like how the interest goes into my account (and its more than what I was expecting) so Far I have had this account for a couple of years now and ANZ have been a pleasure to deal with. No real hassles or issues. If your after a Savings account that you can access online that has no fee's and puts interest in your account then this is for you!

+ No fees but most of the major banks offer this with there savings account

- Must already be an ANZ customer to use this product (although for me this didn't matter cause I was already with them)

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Comments

If you go to this site you will be able to get higher interest than the normal 4%--you can get 6% at the moment and keep your eye on the site as they change it from time to time

http://www.infochoice.com.au/banking/

Piara Waters, WA

  • 151 reviews
  • 18 comments
  • 4 questions
  • 15 answers
  • 188 helpful votes
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Excellent

5 out of 5, reviewed on Aug 17, 2010

I have to say this must be the only good thing I like with ANZ, is their online saving offers one of the best deals throughout the market with best interests returns. What I am really impress is you can go KFC and purchase a meal and the transaction is shown sometime during that day when you view your transactions. Whereas with CBA, there is a time lap which doesnt allow to view transactions for today. This one advantage is good when you made payments to bills you could track it immediately instead of wondering whether you made any payment or now.

+ Very competitive rates compared to other banks. All online transactions are almost updated daily and almost real time.works with iphone

- none really is similiar to many online banks.

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  • 2 reviews
  • 14 helpful votes
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Excellent

5 out of 5, reviewed on Oct 16, 2009

Good product - works great with the Online Investment Account. I can move funds from an interest bearing account, in to the stockmarket with a click of a button (and back again if needed). Nice and simple.

+ Easy to setup and I can have my online saver on my one Internet Banking screen - rather than having my savings accounts located at different institutions. ie ING Savings Maximiser or Rabo.

- I couldn't set up a regular contribution into my new ANZ Online Investment Account when I applied for it. However, I could do this later on Internet Banking for some strange reason.

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  • 33 reviews
  • 16 helpful votes
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Good

4 out of 5, reviewed on Jul 22, 2009

Online Saver is ANZ’s answer to CBA’s NetBank Saver or NAB’s iSaver. It has similar features, e.g. a compulsory link to transaction account belonged to the respective bank, charges no monthly fee and immediately available funds upon transfer to transaction account. Surprisingly, unlike CBA’s NetBank Saver, ANZ allows to schedule future transactions from Online Saver. An account holder who needs to pay a bill due in 2-3 weeks time, can schedule a transfer from ANZ Access Advantage with zero balance today, as long as she also schedules a crossed transfer from her Online Saver. By doing this, she can keep minimum balance in the transaction account and maximize interest earned in online Saver account.

+ Competitive interest rate with no maintenance fee.
Funds transferred out to the ANZ linked transaction account, such as Access Advantage, are immediately available for withdrawal.
Allow future-dated transfer.

- Not an independent online savings account, you need to open one of transaction account with ANZ before you are eligible to open an Online Saver account.

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  • 188 reviews
  • 76 helpful votes
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Excellent

5 out of 5, reviewed on Apr 23, 2009

I will stick with ANZ for a long time to come as they keep on providing great services and support. The bank teller helped me get set up for a new account very easily and made the transition between my old bank hassle free.

+ I have been using this for a year now and I have been earning the highest interest rate at the moment at 4%. It is exactly as described and there are no hidden fees involved which was surprising. You can transfer from your savings to your term deposit 24/7 online. Very happy with the benefits.

- You cannot withdraw money from the term deposit account with the bank teller, you must do it online.

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Comments

The ANZ dangle the carrot with great rates but they are continuously reduced on a regular basis without notification. Misrepresented product and shocking service time and time again.

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Questions & Answers

Can I transfer money from my online saver account to my access advantage account?

Billy asked on Jun 26, 2018

Hi My account is with commenthwell and i have a cheque from anz. How can i transfer it to my account ? Thanks

dawlat asked on Sep 23, 2015

Answer this

Ask your bank. They will advise you.

Hi, I currently live overseas and have a term deposit savings account with you for a number of years.I would like access to my account on line and also wish to transfer some funds from my account to my ANZtravel card, can you advise pls

Ann75 asked on Nov 14, 2012

Answer this

I am not working in ANZ. I think you need to contact ANZ Bank instead of Product Review....


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