This account was my mortgage offset account and while I have now paid out my mortgage and it is still a great account with interest. Does everything I need.
It was really easy to set up the saver account and it has a great bonus interest rate. The only downside that I can see is that you only get the bonus interest if you have no withdrawals during the month. It would be more useful if you had, say, 2 free withdrawals each month that didn't affect the bonus interest rate.
I don't know what other peoples problems are - but this is dead easy to setup and get money into! Don't need branches for heavens sake. Sure, if you withdraw you forgo bonus interest, who cares! It's not a saving account! Very happy.
Highest interest rate return on savings account. There is no flexibility to withdraw funds in the month in order to earn additional interest.
Rates are the most competitive, great features i.e. easy withdrawal process, maximises savings without feeling trapped.
Main problem is that they do not have a physical branch. None of the RAMS branches have anything to do with the savings account. If you have any problems, you're done for because you will be talking to someone in India, etc. You know what it is like trying to fix a problem with a company overseas? Same thing with RAMS. No one is responsible just voices who say," we'll get back to you." Tried to open an account and to make it quicker, so I thought, I physically went to their designated bank (St George) to present my IDs - passport, Medicare Card, Superannuation Statement with my address. Bank takes the details, all good. I call twice, they say that they're still working on it. On the third call, two weeks later, there has been no news so I call and I am told, "...can you bring a letter from the ATO confirming your address?" I say to the person on the line, mate, I am not trying to borrow money. I am trying to lend RAMS some money. If you want to entrust your money with this outfit, you've been forewarned.
Great rates, beats my other favourite bank at the moment. Shame you can only get this great rate by depositing, only once you withdraw you lose it. Unlike my other savings account which I can withdraw without penalties. Just isn't the highest rate anymore so now using Rams for its great rate for the cash I do not need to touch. So far so good.
An excellent account for those who rarely need to make a withdrawal. Should a withdrawal be necessary, then one must withdraw virtually the entire balance at the start of a month to avoid loss of interest. This aspect is quite a disadvantage, nevertheless the very competitive rate largely makes up for it. I have found the customer service to be fine.
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Bonus rate for the first 4 months from account opening on the first $250,000 deposited. For new Saver customers only.
Grow your balance by $200 or more and make no more than one withdrawal in the month.
Deposit $1,000 into a CUA transaction account from external source in the month.
Bonus interest only applies on funds held in linked USaver account if $200 deposited into either account in the month from an external source.
Minimum deposit of $200 and no withdrawals in the month.
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