• 4 reviews
  • 54 helpful votes
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Less then Month with ME - regretting already - Laid back Staff

1 out of 5, reviewed on Jan 17, 2019

While refinancing my mortgage, my old bank asked for account number so that balance in my account can be transferred to ME bank.ME bank asked me to leave it blank and they will put those details once I am allocated account number. They submitted discharge from to my old bank with out putting any details on it. That's okay, people makes mistake.Since my old bank didnt had banking details on that discharge form they sent me bank cheque for balance which was sitting in my account. I posted that cheque before 12 days ( Melbourne to Melbourne) and funds still to appear on my ME bank account. This is worrisome and I have stared taking quotes from other reliable banks to refinance my mortgage.

Was this review helpful? Yes

Comments
ME (Members Equity) Bank Official

Hi Hu, I'm sorry that we've gotten off to such a bad start with your new home loan. If you've posted a cheque to ME, it can take 3-5 business days to clear but you should be able to see this amount... read more »

melbourne

  • 3 reviews
  • 1 question
  • 6 answers
  • 3 helpful votes
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Condescending loan staff.

2 out of 5, reviewed on Jan 13, 2019

Had been with Members Equity for 10 plus years (investment property, owner occupy and credit card.)

researched alternative home loans and found competitors interest rates over .5% less than Members Equity rates.

If you can wait through the (on hold) periods, you are likely to find:

* Loan staff had no interest in matching lower advertised interest rates for an existing loan holder.
* Loan staff condescending attitude towards existing customer with genuine better interest rate
* he had more interested in arguing than resolving, offering competitive alternatives

If i had any hesitation in changing loan providers prior to today, my experience with the loan staff helped make up my mind.

Was this review helpful? Yes

Comments
ME (Members Equity) Bank Official

Hi Mick, I've responded to your private message on Product Review. Please let ME know if there is anything I can do to follow up. Thanks - Miranda.

Adelaide

  • 1 review
  • 1 comment
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Clunky Systems - Low Rates

2 out of 5, reviewed on Jan 11, 2019

I've dealt with Beyond Bank, CommBank, ANZ, AMP & BankWest.

ME banks systems are by far the slowest, clunkiest and most prone to outage that I've come across.

I've seen more more system outages and 'Unable to process request due to system error' in the past month that I've started banking with ME bank, than I had with the above 5 banks over the past 10 years.

For a bank that doesn't have any branches, the online banking experience needs to be top notch, if not class leading.

ME bank doesn't come close.

I'm shocked at how antiquated the systems appear to be. I'd suggest they shuffle all of their advertising budget into their IT infrastructure and make an effort at improving the customer experience.

Was this review helpful? Yes

Comments
ME (Members Equity) Bank Official

Hi Unacceptable, thanks for taking the time to give ME your feedback about our systems. I have forwarded your feedback onto our development team. We definitely know there is work to be done and we'... read more »

Thanks for the response, Miranda. It took 3 days for ME bank to respond to the message I'd left within Internet Banking concerning the system error. 1 day response in a public forum. For the reco... read more »

ME (Members Equity) Bank Official

Hi Unacceptable, thanks for your response. Firstly, I'm sorry that it took 3 days to get back to your message via internet banking. I'm part of the same team that respond to those messages and we h... read more »

Sydney

  • 1 review
  • 1 helpful vote
Private message

Disgusting

1 out of 5, reviewed on Jan 08, 2019

Made a transfer into this account the old fashioned way (as they don't have PayID yet) and almost 24 hours later, and still no funds. Called the bank and was told first time transfers can take up to 3 days. Are we living in the dark ages or something? Nobody takes that long anymore. Get with the times MeBank.

1 person found this helpful, do you? Yes

Comments
ME (Members Equity) Bank Official

Hi there, I'm sorry you were given that info. It's not entirely accurate. Any transfer between banks can take 1-3 business days. Generally speaking, if you transfer funds before 4:00pm AEDST on a b... read more »

  • 1 review
  • 1 helpful vote
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Fraud

1 out of 5, reviewed on Jan 07, 2019

Me Bank advertising for 2.87% interest in fact they only pay 1.08%. I will complain to the ACCC. And if you ask for the money out of your savings account they bar you from accessing your transaction account. Save your money somewhere else.

1 person found this helpful, do you? Yes

Comments
ME (Members Equity) Bank Official

Hi Gunter, I've replied to your private message. Feel free to send a reply with your best contact number if you'd like me to give you a call. Thanks - Miranda.

  • 1 review
  • 2 comments
  • 3 helpful votes
Private message

Bank a business cheque over the Festive Period and told Australia Post guidelines rule the roost. I

1 out of 5, reviewed on Jan 05, 2019

Banked business cheque and due to Festive Season and being told it’s Australia Post’s protocols my ability to withdraw on funds would be 7 business days - oops OziPost had an additional holiday.
Kept being quoted 7 days and OziPosts fault but in reality I bank a business cheque and it takes for me 13 Calendar days to draw on.
Told posting a cheque would have been quicker - are you serious - Big 4 or others looking good.
Now I am over it!

Moved from CUA to this

3 people found this helpful, do you? Yes

Comments
ME (Members Equity) Bank Official

Hi Flipped, I'm sorry for the hassle caused by waiting for a cheque to clear. It can take 7-10 business days if a cheque is deposited with Australia Post and this is because we now have to wait to ... read more »

Yes I have one more question which goes to the point of integrity- having waited this long for a cheque clearance (which I might add the drawer confirms cleared their account) I was told the funds ... read more »

ME (Members Equity) Bank Official

Hi again Flipped, I'm sorry you've been given the run around. If you'd like to send a private message with your best contact number then I'll give you a call and have a look at what's happening. Thanks - Miranda.

See all 4 comments

North Sydney

  • 4 reviews
  • 1 comment
  • 1 answer
  • 2 helpful votes
Private message

Term deposit processes are annoying

2 out of 5, reviewed on Jan 02, 2019

Cannot update redemption instructions online, therefore I am forced to download (yes download) a pdf form to fill out, scan and email (yes, email) back to ME Bank. I cannot upload the scanned file and attach it to the secure message system either and no, I do not want to wait in a call centre queue. C'mon ME Bank, this is 2019, and you make your investors go through this archaic process. Others out there that are seeking my business are far more polished and slick in their systems.

2 people found this helpful, do you? Yes

Comments
ME (Members Equity) Bank Official

Hi Steve, thanks for your review. At the moment, we don't have the ability to update maturity instructions for Term Deposits online but this is something we're looking into for the future. If it ma... read more »

ME Bank - honesty and integrity rolled into one

5 out of 5, reviewed on Dec 26, 2018

We transferred our Housing loan and all accounts to ME Bank in March 2017. We had previously been with
Westpac Bank for 30 odd years. I was originally an Australian Super Member and have since joined my Husband and son to Australian Super. I am extremely happy with their professionalism, empathetic nature of the Customer
Service Consultants and the ease of online banking with them. They have extremely competitive rates and it has been a breath of fresh air changing over to this Bank on every level.
I cannot rate them high enough. I would certainly give any negative feedback if I felt they warranted it. There is
none to give.
(The only service they do not have is Business Loans and this would be a progressive tool structured to people
requiring business loans rather than using the big 4 banks)

Was this review helpful? Yes

Comments
ME (Members Equity) Bank Official

Hi Brenda, thanks for leaving such a lovely review. I'm very glad that you've been happy banking with ME over the last couple of years. It's a big thing to switch banks especially when you've banke... read more »

  • 1 review
  • 2 helpful votes
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If your after loyalty... Don't bother

2 out of 5, reviewed on Dec 21, 2018

We have been with ME for around 7 years I thought we where on a winner, interest rates went down and was told that because I was existing they wouldn't help and that it's because I am now paying off the principle now so there more value in new customers and they couldn't drop me lower than the 5%+ I am on All I wanted was something that was a bit closer to whats currently being offered. I was shocked! I tried again for help and then was told because the loan wasn't mine I couldn't be helped because apparently I wasn't the main authority... my husband is, I found that interested because we are equal partners so after 3 attempts of getting help am done! Now I am trying to leave, it's not like I haven't ask so many times for help and been pretty much told I wasn't the right type of customer! and even then they cant seem to get it right and help. I went from raving about this bank to literally hating it. They called me and advise Oh sorry a month ago things changed and we can now do more. WOW like nearly 7 years and 12 months of asking for help I sign somewhere else and all of a sudden they can match me new deal... bit late!!!

2 people found this helpful, do you? Yes

Comments
ME (Members Equity) Bank Official

Hi Rel, I'm sorry you've had such a bad experience. If the loan is in both your names we can speak to either of you. Also, we're always willing to speak to you about your loans, there are lots of d... read more »

Members' bank

4 out of 5, reviewed on Dec 21, 2018

ME stands for Members Equity which is backed by the big 4-5 industry super funds. Their apps and online experience is getting better but could still be improved. This is a bank that so far I have not had too much issues with. I have my everyday account and a credit card with them. Their interest rate is competitive in comparison to the other big banks.

I think for a bank, it still needs to get its internal processes and transaction processing streamlined. It's not perfect but it's getting there!

Wish them luck in getting more customers. Please note I haven't used them for homeloans so can't comment on that.

Was this review helpful? Yes

Comments
ME (Members Equity) Bank Official

Hi tldr, thanks for the honest feedback. We're glad you have noticed we're improving and we agree there are always processes we can work on. Let ME know if we can help in any other way. Thanks - Jono

worked well for me

5 out of 5, reviewed on Dec 20, 2018

recently had a largish term deposit with Me, I received all funds in my external bank account on the day of maturity, no problems, no hassles, no surprises, everything worked as expected.

Was this review helpful? Yes

Comments
ME (Members Equity) Bank Official

Hi Desa, thanks for the feedback. We're happy to hear you had no issues. Let ME know if there's anything else we can do. Thanks - Jono

dont value their own customers

1 out of 5, reviewed on Dec 20, 2018

I have been with ME bank for over 20 years. I have never been late on a payment for anything. I currently have 3 homes, 2 of which are rentals. I very comfortably manage all of my repayments and was on track to pay out my residential home within 7 years. My wife and I have secure employment and have had for 29 years. ME bank refused to allow me to continue one of my rental homes on interest only saying I failed "the test". This has forced em to divert money onto rental homes and has actually slowed down my financial planning. I had several phone calls and emails with them and they couldn't care less. Bankwest with exactly the same loan, equity and income and expenditure figures are able to approve what ME cant. When it suits me in terms of interest rates and timing I cant wait to leave them. Absolutely disappointing.

3 people found this helpful, do you? Yes

Comments
ME (Members Equity) Bank Official

Hi looking for you, Sorry for the frustration. When assessing an Interest Only application we do need to follow the responsible lending laws, depending on how long you have had Interest Only for pr... read more »

Toowoomba

  • 1 review
  • 1 comment
  • 2 helpful votes
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Disappointed is a huge understatement!

1 out of 5, reviewed on Dec 19, 2018

My wife and I sold a property that had two loans attached to it, the home loan and an equity loan. Not having a great knowledge of mortgages, I rang to confirm whether after the settlement of our house, would we have to pay out both loans or just the home loan? The staff member insisted I could do a partial discharge and I only had to pay out the home loan, not the equity loan. (There were two staff members that explained this too me over different calls) This was over $65,000 of incorrect advice! As months go by, my wife and I make big plans for the settlement money. Only until settlement day we realise we are paying both the loans and we are getting less than half of the funds in our account than expected and advised. ME listened to the calls and acknowledged I was given incorrect information. They were also quick to get the legal team involved and shutdown my complaints with a small compensation offered. This has left my heavily pregnant wife and myself in such a horrible state of mind the week before Christmas and we will never forget it!

2 people found this helpful, do you? Yes

Comments
ME (Members Equity) Bank Official

Hi Steddy10, I can't imagine how stressful it has been, I'm sorry you've had to go through this. We genuinely don't want you to have to go through this, and we're working hard every day to improve.... read more »

It’s funny because there were a number of things ME could have done for us, but rather than that, a small compensation was offered and then “feel free to see an ombudsman and take it further if you... read more »

  • 25 reviews
  • 49 comments
  • 3 questions
  • 38 answers
  • 58 helpful votes
Private message

Just ridiculous ... robotic, inflexible employees parroting pointless bureaucratic policy

1 out of 5, reviewed on Dec 19, 2018

I have only had a ME Bank Frank credit card for a short time but I will be looking for a new provider in the New Year.

I recently purchased a pair of shoes which developed a fault after just one week of wear. I have returned the shoes and have been dealing with the seller in relation to my refund or a possible upgrade. It hasn't been easy getting information out of the seller so I have lodged a payment dispute to cover myself. This process has been even more difficult than returning the shoes.

Problem 1: On Monday I called ME Bank to lodge the dispute. It did not matter what information I gave them, ME Bank claimed that the only way that ME Bank could confirm my identity was to call me on my mobile.

Today (Wednesday) ME Bank called me to obtain more information about the dispute (see Problem 2). The call ended with me asking ME Bank for written confirmation of their position that they had decided not proceed with my dispute. ME Bank later called me for a second time on my mobile but refused to discuss what the call was about until I identified myself by giving my name, birth date and home address - in public on a crowded train, which I declined to do.

Why is it that on Monday the only way to identify me is to call me on my mobile, but two days later on Wednesday when they call me on the same mobile I need to identify myself to them in public?

Bizarrely, at the end of the second phone call where they called me but refused to tell me what the call was about, the caller asked me if I had any more questions for them. I could only respond that I didn't have any questions at all as it was them that had called me in the first place!

Problem 2: When ME Bank called me today for "more information" about my dispute, they wanted me to provide them with photos of the faulty item and copies of all correspondence with the seller. I feel this is excessive. I have provided the seller with photos and they have accepted that the item is faulty. I believe any correspondence between me and the seller is private. When I have lodged disputes through other credit providers they have asked me to fill in a form to provide a description of the issue but I have never had to provide photos or all correspondence.

ME Bank then told me they wanted a copy of my invoice. This is absurd. As my credit provider they already have the necessary details of the purchase - the date, the name of the seller and a description of the item.

What possible reason could ME Bank have for wanting the invoice? The robotic, inflexible customer service representative and customer service team leader I spoke with during the first call today could not explain it other than to say that ME Bank would not proceed with my dispute unless I provided it.

I appreciate there needs to be policy and process, and I love a good policy and process when it is effective and relevant. ME Bank's policies are pointlessly bureaucratic to the point of absurdity. My experience with ME Bank has been worse than trying to deal with a Phillipines call centre.

For this reason I will be looking for a new provider in the New Year.

3 people found this helpful, do you? Yes

Comments
ME (Members Equity) Bank Official

Hi Neb-Maat-Re, thanks for reaching out to ME. I'm sorry to hear of your situation and how unlucky it is that the shoes were faulty. When we try and retrieve your funds for you we do go through the... read more »

1. I am fully aware of my rights as a consumer. In future you might like to restrict your comments and personal opinions to matters that are directly relevant to ME Bank. 2. It's interesting that ... read more »

ME (Members Equity) Bank Official

Hi Neb-Maat-Re, thanks for getting back to ME. I'd love to speak to you more on this matter, sorry for the confusion, my intention was to purely help you and thanks for the feedback, I'll take it o... read more »

See all 7 comments

Satisfied long term customer

5 out of 5, reviewed on Dec 18, 2018

I have been banking with Members Equity for the last 20 years with mortages and term deposits. Never experienced any difficulties with my banking needs.

Was this review helpful? Yes

Comments
ME (Members Equity) Bank Official

Hi Rosie, thanks for the feedback. It's great to hear over the last 20 years you haven't experienced any difficulties. And remember we're always here if you need ME! Thanks - Jono

  • 1 review
  • 1 comment
  • 1 answer
  • 1 helpful vote
Private message

Why is it that people only write bad reviews?

4 out of 5, reviewed on Dec 18, 2018

Why is it that people only write bad reviews? Happy customers, like myself, dont seem to bother to write any reviews to counterbalance the negativity. So here is my effort.
I have been with ME bank since1997 with a mortgage, term deposits, on line and transaction accounts. I have never experienced any problems
I found the staff very supportive, helpfull and friendly
I like to know that ME is not one of the big beasts that have been ripping off their customers without anyone doing anything about it, until the Royal Commision.
I feel comfortable with this smaller bank and their online interest rate of 2.85% and wish them well.

Was this review helpful? Yes

Comments
ME (Members Equity) Bank Official

Hi Ingeborg, Thank you so much for the great review. We appreciate all reviews as it only helps us grow and become a better bank. We also want to help all Australians get ahead and trust is a big p... read more »

Sydney

  • 1 review
  • 1 comment
  • 1 helpful vote
Private message

This app can't operate in Android Version 5.0.1 anymore

1 out of 5, reviewed on Dec 18, 2018

This freaking useless App is rubbish since upgrade to version 2.18.2 when your Android smart phone running Android version 5.0.1 it's just crash .Every freaking time you try to log n the app it's just show up the message
Can't connect to the server try to check your Internet connection .
I don't have any internet connection problem it's your app is suck mate .
Wake up yourself do something fixed this issue quick .It's been almost two weeks

1 person found this helpful, do you? Yes

Comments
ME (Members Equity) Bank Official

Hi William, sorry for the added hassle. We released our most recent Android app version at the end of November, after our internal testing processes. This week, since the update, we’ve identified a... read more »

This is freaking rubbish it's been over freaking 2 weeks almost 3 week still can't fixed the problem. You can't fixed the problem you requested customer to upgrade higher version of Android are yo... read more »

Brisbane

  • 2 reviews
  • 3 comments
  • 3 helpful votes
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Verified Customer

ME Bank credit card hack

1 out of 5, reviewed on Dec 17, 2018

Started getting charged late fees on our ME bank credit card statement which we found really strange as we paid them on a fortnightly cycle.
Just spoken to customer service who told us we weren’t paying in their pay cycle.
They only accept payments between the 10th and 25th of each month. Any extra payments are considered bonus payments but are not considered in the minimum due payment.

Apparently this is how all banks process their bill cycles. After having a ME credit card for over 10 years we find this to be a complete scam which is taken to the next level.

Since when does a monthly statement only accept payments within a 15 day window??

1 person found this helpful, do you? Yes

Comments
ME (Members Equity) Bank Official

Hi Karl, sorry for the confusion there, it is the way all our credit cards work and it should have been explained to you when you opened the card, apologies if it wasn't. If the pay cycle isn't wor... read more »

Sunshine Coast Qld

  • 1 review
  • 2 comments
  • 1 helpful vote
Private message

I Give up

1 out of 5, reviewed on Dec 17, 2018

I have spent hours trying to open savings accounts with ME over the phone and online. Still not done. Website is too difficult to get to where you want. Now unable to access application to complete, it just disappeared after downloading a form for Aust Post even though it was needed for 2 persons. I give up! Customer service don't listen, they just keep talking about irrelevant info.

1 person found this helpful, do you? Yes

Comments
ME (Members Equity) Bank Official

Hi Fritz, It really shouldn't be this difficult, sorry, but once we require identification we don't allow you to access the application as we need you to go to AusPost. You can also access the form... read more »

The situation has progressed to the point where I am rapidly losing confidence toward ME. 3 days in a row we have perservered and the last encounter supposedly had a good outcome. (This is now the ... read more »

ME (Members Equity) Bank Official

I'd be happy to get this fixed for you and stop the emails but we would need you to send us a private message with your mobile number. We can't discuss private information through product review, s... read more »

See all 5 comments

Canberra

  • 13 reviews
  • 17 comments
  • 1 answer
  • 9 helpful votes
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It’s about them, not you

2 out of 5, reviewed on Dec 17, 2018

I have been with ME Bank for over 20 years. Lately I have found them to be insincere, expensive and unhelpful. I requested a form to discharge part of my home loan. They didn’t send it despite saying they would. Instead I got a phone call from the retention team. I had previously advised them I did not want those calls. They then didn’t take any action on the discharge for over 3 weeks and only actioned it because I rang up asking why it hadn’t been done.

Was this review helpful? Yes

Comments
ME (Members Equity) Bank Official

Hi KnowYourRights, sorry it has taken so long. Depending on the type of discharge it can take longer the normal. Also, you may need to contact our solicitors to book in settlement if you are acting... read more »

Jono - none of the reasons you give explain the delay. The email acknowledgement I received when submitting the form indicted that it may take 15 working days. Your staff simply did not get around ... read more »

ME (Members Equity) Bank Official

I'd be happy to look into the specific reasons and get back to you but I would need you to inbox ME your number as we can't discuss account information through product review. If it was a case of o... read more »

See all 4 comments

1 of 26 pages


Questions & Answers

My son has been trying to get approval for a home loan and has supplied 3 months of payslips and they are still asking for more is this normal?

Dianne asked on Dec 11, 2018

Answer this

Hi Dianne, sorry for the late reply. It is normal, it does depend on the assessor and what they require to ensure we have enough information to give your son the best chance of being approved but also to ensure we are following the responsible lending laws in Australia. If there is anything else please let ME know - Thanks Jono

Has anyone paid off their home loan with ME and gone through the discharge process with them? We paid our home off almost 12 months ago and sent a discharge form in stating we would represent ourselves at settlement. We then received a very unprofessional email along with an invoice from Galelee Solicitors who apparently represent ME Bank. It said we should forward payment to them before they begin the discharge procedure. As the correspondence from Galilee was so unprofessional I looked them up on Google reviews and they score a 1.6 with many warnings to steer clear if possible? Is this possible? I also wondered why we were invoiced for ME Banks representative? If anyone has been through this procedure with ME I would be grateful for any advice on how to proceed. TIA

Ali asked on Nov 05, 2018

Answer this

Hi Ali, we don't currently have an in-house legal team at ME which is why we use Galilee to represent us at settlement. The discharge fee of $300 is divided up into two amounts; $195 which goes to ME directly and $105 which you pay to Galilee. This total fees covers the admin and legal cost of discharging your loan. I'm sorry that the email you received from Galilee was unprofessional. That's really concerning to read. I'd be more than happy to have a chat with you about this over the phone if you'd to send a private message with your best contact number. Thanks, Miranda.

Yes, i have. Galilee was where the deeds were kept. We paid their fee and then went to the Departments of Lands to discharge the mortgage ourselves ( they charged too)
It all was very easy ME bank were very helpfull in explaing what to do
I joined ME Bank in 1997 and have had nothing but good service and friendly support over all those years.
Of course, it is the tone that makes the music, if the client is nice, you can expect nice service.
Which actually applies all over the world, the French started the saying

Thanks for taking the time to reply. All sorted now. You are one of ME banks very few fans.. lol
Cheers to you

Why can’t I transfer funds using the app? Every time I key in amount the screen closes, very, very frustrating.

Nette asked on Aug 25, 2018

Answer this

Hi Nette, that's quite an unusual problem. I'd recommend uninstalling and reinstalling the app to see if that makes a difference. If you're still having problems then please give ME a call on 13 15 63 so we can look into it for you. Sorry for any hassle here, Nette. Thanks - Miranda.

Have upgraded app on iPad and can now transfer between accounts. Thank you for your answer Miranda, best wishes, Nette

See all 15 questions about ME (Members Equity) Bank