Interest rates not competitive and go down too regularly.
They keep cutting the interest rate on Rams Saver account, now it’s barely above the Reserve bank cash rate and I would expect a much better rate from an online bank that has no bricks and mortar branches to maintain. When I first opened my account the interest rate was very good compared to the official cash rate but they have just been slashing it to the bone so it’s really not worth having. Am looking elsewhere such as putting my cash into my super and managed funds.
RAMS is straightforward and easy. I have never had a single issue ever.
RAMS initially had a good rate for their savings account, which was the reason I moved my money across. However, they have reduced the interest rates significantly after the first year. They still offer good phone service, but no physical locations. Overall, rather trustworthy brand but not as competitive compared to other smaller banks.
RAMS has competitive interest rates and an easy to reach bonus saver interest rate. They are easy to contact and happy to help when you give them a call.
RAMS are simply not trustworthy. There are things in their T’s and C’s which should be candidly stated elsewhere but are not. For example if you exceed $500k in the account you don’t get paid bonus interest on any of your savings at all - not just the amount over 500. Especially when you open up an account and put that money in straight up, you’d reckon someone would have told you that. I hate to think what else is surreptitiously hidden in their t’s and c’s.
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.
Rates keep dropping frequently, not what I expected when I signed up to save money.
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.
Offer highest interest rate that I could find. Online banking is simple and easy to understand.
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Minimum deposit of at least $250.
Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Everyday or Glide transaction accounts.
Minimum deposit of $200 and no withdrawals in the month.
Bonus rate for first 3 months, reverting to 0.15% rate after
Increase balance by at least $300 in the month
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