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Unless you are a native of this country I would suggest that you not use this bank's service Full review
Unless you are a native of this country I would suggest that you not use this bank's service
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YesI opened an online account with them back when their interest rate was the highest available. Sadly since then they have dropped their rate and I have since moved on to greener pastures. Finally after removing their fee for using ATM's I have now ... Full review
I opened an online account with them back when their interest rate was the highest available. Sadly since then they have dropped their rate and I have since moved on to greener pastures. Finally after removing their fee for using ATM's I have now started using them as an ATM withdrawal account only. To expedite matters I have set up a monthly automatic transfer of funds from my Usaver into the Arab account to cover my regular ATM usage. I still keep the bulk of my funds in Ubank [currently highest %] but Arab's online account has now become a wonderful alternative for ATM use. All Redi teller machines can now be accessed free of charge and they currently pay 5.5% interest on any funds in the account. They still charge $1 however for Eftpos, which I never use. I could have Direct Debits taken from it as well at a cost of 50 cents for each DD but I prefer to use my Suncorp Eoptions account for that purpose as they're free there and it also separates my banking into clearly definable areas. One potential drawback to the Arab account however is that the PIN cannot be changed and you're stuck with the one they send you. It can be changed by ordering another card but the next PIN is still a lucky dip. So if you are the type of person who has good control of your monthly spending and wants to get the best interest out of each account you use then adding an Arab to your banking regimen would be worth considering. Cheers.
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