8.9/10

Based on 425 Bank First product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.

Bank First bank accounts

Formerly Victoria Teachers Mutual Bank, Bank First is an award winning financial institution with a competitive range of banking products including personal loans, home loans, term deposits and savings accounts. Founded by Australian educators in 1972, Bank First offers all Australians outstanding value but doesn't compromise on service or quality. Best of all, Bank First customers become equal shareholders which means all the benefits are directly returned to you.

Bank First offers the following bank accounts

Rates and fees verified as correct at 13 October 2024. Other information correct at the time of writing. Advertiser disclosure.
Product Account fee Payment options Interest rate
Everyday

$0.00

Apple Pay, Google Wallet, PayID

0% p.a.

First Account

$0.00

Apple Pay, Google Wallet, PayID

1.45% p.a.

Pension Account

$0.00

Apple Pay, Google Wallet, PayID

3.40% p.a.

How are Bank First bank accounts rated?

Mozo users have rated Bank First bank accounts on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of bank-accounts
Bank First bank accounts customer reviews
Overall
8.8/10
Price
8.4/10
Features
7.6/10
Customer service
9.0/10
Convenience
7.8/10
Trust
9.1/10
Based on 97 Bank First product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Recent Bank First bank account reviews

Bank First Bank Account
Overall 5/10
dreadful customer service

I am seriously disgusted in the service since January this year. Customer service does not exist. Each time i call i am told the average wait is 60 minutes. I would love to bill them for my time and see how they like it. I tried emailing but have now been waiting 6 days and no reply or call back. This is totally unacceptable. As soon as I can I will b e withdrawing all of my money. Obviously short of staff and they need to hire and train new people quickly or they will lose more customers.

Read full review

I am seriously disgusted in the service since January this year. Customer service does not exist. Each time i call i am told the average wait is 60 minutes. I would love to bill them for my time and see how they like it. I tried emailing but have now been waiting 6 days and no reply or call back. This is totally unacceptable. As soon as I can I will b e withdrawing all of my money. Obviously short of staff and they need to hire and train new people quickly or they will lose more customers.

Price
7/10
Features
6/10
Customer service
1/10
Convenience
5/10
Trust
7/10
Less
Susan, Victoria, reviewed 2 months ago
Bank First Bank Account
Overall 6/10
Bank has gone downhill.

This bank was fantastic when it started as VTCU. Then it changed to Mutual Bank and was still pretty good. Now it has really gone downhill. In the beginning I would call and a person would answer. Now i get the whole choose an option etc recording and on average the wait is 20 mins on a good day. So I started to email my questions - but I now get a message saying I need to wait up to 5 days for a reply. What if i need to speak to someone urgently? I am really thinking after 30 years of moving on. One of the best things about the bank used to be prompt and personal service - not any more :(

Read full review

This bank was fantastic when it started as VTCU. Then it changed to Mutual Bank and was still pretty good. Now it has really gone downhill. In the beginning I would call and a person would answer. Now i get the whole choose an option etc recording and on average the wait is 20 mins on a good day. So I started to email my questions - but I now get a message saying I need to wait up to 5 days for a reply. What if i need to speak to someone urgently? I am really thinking after 30 years of moving on. One of the best things about the bank used to be prompt and personal service - not any more :(

Price
8/10
Features
7/10
Customer service
3/10
Convenience
6/10
Trust
7/10
Less
Lydia, Victoria, reviewed 2 months ago
Bank First Everyday
Overall 9/10
Loyal customer Bank First - give it a try

I have been with Bank first for many years, signed up when I was teaching, now retired. I use it purely now as a savings account for special things like Christmas, holidays etc. Always go online and as an older person who is sometimes technologically challenged, I find this bank online system very easy to navigate ( especially for depositing funds and transferring to other accounts).

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I have been with Bank first for many years, signed up when I was teaching, now retired. I use it purely now as a savings account for special things like Christmas, holidays etc. Always go online and as an older person who is sometimes technologically challenged, I find this bank online system very easy to navigate ( especially for depositing funds and transferring to other accounts).

Price
10/10
Features
9/10
Customer service
9/10
Convenience
9/10
Trust
10/10
Less
Carolyn, Victoria, reviewed over 2 years ago
Bank First Bank Account
Overall 9/10
Longevity can have its advantages.

I have been a member of Bank First, " when it was the Victoria teachers Credit Union ", since I was 18 yrs old ( I'm now 60 ). How's that for client/member longevity. Though I haven't received the greatest " whiz-bang, you beauty " interest rate on any of my accounts, only a few there-in; it's the personalised, friendly service I receive every time I email or call them about an issue, regardless of what that issue may be. Shopping around for the best interest deals / banking service is a good concept & should be used occasionally to see what is out there. But doing it on a daily, weekly or monthly basis can be a pain, & you could often find the bank you just switched from, might've offered a deal that would've beaten all others " hands down ", had you just enquired with them first. Time saved, can often be, money saved too.

Read full review

I have been a member of Bank First, " when it was the Victoria teachers Credit Union ", since I was 18 yrs old ( I'm now 60 ). How's that for client/member longevity. Though I haven't received the greatest " whiz-bang, you beauty " interest rate on any of my accounts, only a few there-in; it's the personalised, friendly service I receive every time I email or call them about an issue, regardless of what that issue may be. Shopping around for the best interest deals / banking service is a good concept & should be used occasionally to see what is out there. But doing it on a daily, weekly or monthly basis can be a pain, & you could often find the bank you just switched from, might've offered a deal that would've beaten all others " hands down ", had you just enquired with them first. Time saved, can often be, money saved too.

Price
9/10
Features
10/10
Customer service
10/10
Convenience
9/10
Trust
10/10
Less
Craig, Victoria, reviewed over 2 years ago
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Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.
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