The ruthless franchise model of RAMS branches is not compatible with customer-focused solutions. Complaints to the escalated team are routinely ignored. Emails to RAMS are ignored. Our dealings with RAMS South East have been nothing short of a shambles. We have observed 4 separate staff members who have departed (as evidenced by automatic email replies advising of their departure) which makes communication all the more difficult. We were assured in writing when we applied for the loan that after 3 consecutive years of clear repayment history, we would revert to full doc and obtain an interest rate reduction of 1% less (we are currently obtaining an exploitative rate of 4.26%). However we understand based on a conversation with customer service that RAMS has reneged on this policy. I understand RAMS will soon be rebranded as Westpac. The sooner that happens, the better.
We had to open an account with Westpac even though we dealt with RAMS direct for the loan initially, we didn't realise this however both RAMS and Westpac have only been helpful for us whenever we have had any interactions with them.
I used RAMS for my home loan, they were friendly flexible and gave a very personal service. The only complaint I have had were a few administrative errors at their head office where I have received calls for missed payments in error.
Overall a good product backed by excellent service
I Like the fact that easy to get to speak to a customer service person. Internet banking easy to use for redraw etc. Don't like the fact that interest increases a letter appears the next day in the mail. Decreases in interest rates take a lot longer. Regular statements
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*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
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