Overall, very happy.
High interest rate for loyalty.
We have good relations with Westpac and have been with them for a long time. They contact us 6 monthly to review our interest rates and insurance policies. Only downside as now we are retired and relying on our investments we do not have the option to go anywhere else if we are not satisfied as we don't have enough income to support new loans.
They haven't put our rate down.
As part of our premier plus package we have an included credit card. Approximately 2 years ago we were carrying a large balance and wanted to reduce our card limit or transfer the balance to a lower rate card. The interest rate on the card is 21.99%. When contacted via the help line Westpac refused to lower our credit card limit and then when we asked about transferring to a lower rate card we were told we couldn't. In the end we took our credit card business to ANZ who gave us an excellent 0% interest deal for 24 months. When attempting to make extra repayments on our mortgage we were told that we had a redraw facility as part of our package but when we made extra repayments the full amount in excess of our standard payment was allocated to the loan balance and when we needed to redraw later we were told we couldn't and had to fight with the bank for 2 months to get the payments allocated properly and the redraw approved. Our interest rate is absolutely terrible, still sitting at 4.45% even after a 0.75% package discount. We went into a branch and sat with a manager asking them to price match lower products in the market, some as low as 3.25% but because of the LVR of our property they refused to assist us because they knew we wouldn't be approved for a loan with another lender because of the LVR. Our repayment record is flawless and we've banked with Westpac for over 20 years but until we have some capital growth on our property we're stuck and Westpac know it.
The process of borrowing money and getting the loan approved was very difficult, but the product itself is great and exactly what we wanted. We can pay our wages into our mortgage and use the re-draw to pay our bills.
I have been with Westpac for 24 years and have bought two houses with their help with no dramas.
Overall the product was explained pretty well prior to signing. In the early days we had some major issues with the service that actually took a complaint to the ombudsman to resolve but since then they’ve come good.
Personal banking services have declined. It has a range of products.
We have been with Westpac for many years, their staff are always very helpful. They have removed the ATM from our local shopping mall but we can still get money out from Coles which is a much safer way than an ATM. The ATM was about 20 metres from Coles but I always used Coles as I felt it was safer.
Westpac Alice Springs is awesome! They have a great manager called Lincoln. They are always happy to help and promptly responds to emails.
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