Pros: Customer Service: As a smaller bank, Bank of Sydney may offer more personalized customer service compared to larger institutions. Competitive Interest Rates: Smaller banks sometimes provide competitive interest rates on savings accounts, term deposits, and home loans to attract customers. Local Focus: Being a community-focused bank, Bank of Sydney might prioritize the needs of its local customers and communities. Niche Products: Smaller banks may offer specialized or niche financial products that cater to specific customer needs. Technology: Some smaller banks invest in modern banking technologies to enhance customer experience and streamline operations. Cons: Limited Branch Network: Smaller banks like Bank of Sydney might have a more restricted branch network, which could be inconvenient for customers who prefer in-person banking. Fewer ATMs: Access to ATMs may be limited compared to larger banks, which might result in ATM withdrawal fees when using other banks' ATMs. Limited Services: Smaller banks might not offer the same range of financial products and services as larger, full-service banks. Financial Stability: Smaller banks may have less financial stability compared to larger, well-established institutions, potentially posing slightly higher risks to customers' deposits. Limited Global Reach: If you frequently travel internationally or need international banking services, a smaller bank might not offer the same level of convenience as larger banks with global networks.
More Bank of Sydney term deposit customer reviewsBe aware that if they don't like your postcode the offer for the 'award winning' loans changes from 80%LVR to 60%!!!! We had to go through the whole application process to find that out. Our postcode was classed regional/rural even though we live in the 3rd largest city in Victoria behind Melbourne and Geelong!!!! Baffling!!!!
More Bank of Sydney home loan customer reviewsTheir general banking procedures are very clunky - could never do anything I asked over the phone, instead requiring me to send a 'secure message' via online banking (that times out before you are done without telling you! and you lose the message you've carefully composed when you try to send), then once you re-type your instructions, you require an sms code to even be able to send the message, despite the fact that you are logged into your online banking and sending the message from and within their secure mailbox! Then they call you on the phone to confirm your instructions despite refusing to accept your instructions over the phone in the first place. There is also no way to get more than $10K (either transfer or bpay) via online banking, regardless of your transfer limits without incurring a substantial fee. I'm switching, I've had enough hassle!
More Bank of Sydney bank account customer reviewsAlright overall but nothing too special.
More Bank of Sydney personal loan customer reviews10+10
Small bank transfers take too long
More Bank of Sydney debit card customer reviewsneed a phone
More Bank of Sydney credit card customer reviewsBest bank .
More Bank of Sydney savings account customer reviewsHad great customer service
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