BankVic home loans

We have almost $500k in savings with BankVic. We also have a $386k Investment Property loan. We have sold the investment property and over $400k was sent to BankVic as part of the settlement on Friday. I called today (Monday) to find out what was happening with the loan. BankVic's response was that they did not know anything about the payment. They later called back to say they had found the money but apparently do not know what to do with it. I tried escalating this to senior management. Senior management won't speak to me because it is beneath them to speak to a member and the loans department won't speak to me because I have escalated the issue to senior management.

I reveiw my BankVic as Excellent in every category, because so far i have not had any issue, plus they are competively priced, offer many bundled products and is an Australian member-owned mutual bank.

Have been trying to refinance our home loan moving away from this bank due to lack of physical branches and the fact you have to go to the post office now to try and deposit money into your account. They lied to the other finacial institution about having not received any information about our wish to change banks then proceeded to try and stop us from changing asking what can we do to keep you with our bank has something gone wrong? When i said i dont like speaking over the phone i want to speak to a person face to face they said we didnt have the right paperwork. convienitly the banking portal also didnt have an upto date form for the other finacial institution to draw from so we had to wait for them to email us then resubmit the paperwork again. Pay out estimate came in with over $12k in unexplained extra costing that we now have to wait for an answer as to what this amount is for. They also refused to roll a personal loan into our current home loan, took 2 months to finalise that personal loan when we originally applied for it and having no physical branch its been a game of try to get in touch with the rep and email and wait for ever for a reply. I can safely say that my haste to think ill of our previous finacial institution over minor issues that could have been resolved with a simple conversation, i mad a massive mistake and moving across to BankVic was a stupid decision that by the look of it is about to set my family back another 12k for nothing.

Good rate and I like the redraw function, but when I made an enquiry about reducing the rates, they ignored my emails.

BankVic (formerly Police Credit) is an excellent, honest and competitive bank with an emphasis on customer service. We have had our personal and home loans through them for several years and have had other people, such as our conveyancer describe them as being excellent to work with. When you call them you can always get a person that you can have a conversation and joke with if you like and everything gets sorted quickly. Their products offer a great balance of features and competitiveness. They won't be the cheapest in the market but they don't sting you with hidden fees and charges either. Improvements; the main things they could improve are their network of fee-free ATMS and their online platform. They especially need to implement 2-factor authentication for the banking platform, as I think they are probably the only bank that doesn't at this point. Although, they do ring you quickly re any suspect transactions.