Signed up for a term deposit with BA due to their competitive rates. The account works fine as it is an uncomplicated product, however getting it set up was quite a large headache. After setting up online access, I had continual issues trying to transfer money into the account, with little useful information provided by the website/online portal. Calling customer support was helpful - no issues at all with their service, but this was quite frustrating as it was the result of a fundamental part of their service being unusable and unintuitive from the outset. I had no further issues after that point, however - but that is hardly surprising for an account that is intended to be left alone anyway.
Bank Australia has everything I want, and gives me everything I need.
Bank Australia has everything I want, and gives me everything I need.
Fantastic bank, love the fact that its owned by the customers, staff are awesome, just needs more branches. Relatively new bank so that will come with time, hopefully.
They are not fair. To gain maximum interest rate, you MUST transfer money from the account via the internet. Therefore people without access to the internet cannot operate the account and get the same amount of interest as those with electronic devices. Where is the fairness in that? Not everyone can afford electronic devices!!
I've compared other interest rates from other providers and they are NEVER as competitive.
Bank MECU is the best banking institution I have ever banked with as they are interested in the customer first. And that is not just a line or slogan.
This term deposit offers great interest rates, highly recommended compared to the major banks. The staff are always friendly, no long queues, can't do enough for you, personalized service, provide reply paid envelopes to send cheques in easily, fantastic bank.
Been with them for many years, early days as a credit union. Lack of convenience in the few places where they have branches, though can use redi-ATMs. Internet banking as good as anyone else, phone banking similar to others. Interesting to see how they go as a members owned bank.
This product has very good rates, with options for short term to long term deposits - at the end of your term, you can choose how long you wish to re-deposit for, depending on the best rates available - the only thing I do not like about this product, is you do not know how much interest you have earned when the renewal comes in.... it does not show at all - its only when you re-invest that it shows up in the principal.
Too many fees to worry about and forms to fill in so spoils the experience.
Have been with MECU since its inception many many years ago. We have never had a complaint. Even when travelling o/s and lost a credit card, the speed and efficiency with which that was handled was amazing and even today, when we tell the story people can't believe a bank operates in such a way. Sitting and talking to them in their office and being able to see our files when they open them, talk to them on the phone and they return calls on the same day. We would not move to another bank. We even check with other banks before reinvesting and if they have higher rates, MECU meets them as we know they will.
Although my MECU bank branch is quite a small affair, the staff are extremely easy to deal with. The atmosphere is pleasant and we usually end up having a good laugh about one thing or another and I leave the bank feeling great.
Different interest rates apply to different amounts or different interest payment frequencies.
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