The product offered by the bank is competitive and has great features such as withdrawals and interest rate reduction against balance of other accounts. Fees and rates are regularly reviewed and adjusted.
Often with pay television, electricity and other services you need to ring up regularly and threaten to leave in order to get the best deal. What I love about Westpac is they regularly ring me to offer a better deal than what's advertised. This rewards loyalty and is good business.
I like the convenience of Westpac's online banking. However when it comes to customer service they have really let us down. No contact is made to enquire as to whether we are pleased with their service or whether they can offer more. If we want to ask about lower interest rates we need to ring them, no offers are made from their side of the fence. Additionally, there are only 2 branches in my town, neither open till after 9:30 and both are closed by 4. These hours are useless when you work!
Pros: . Solid, reliable institution . Extensive branch network . Staff are generally polite . Home loan products have many options and tailored to your needs Cons: . Lack customer focus: three nearby branches closed down for "customers convenience" (not true!) leaving nearest branch at faraway busy shopping centre . When country's interest rates are lowered, bank does not automatically reflect to my home loan product requiring me to phone up and re-negotiate . Not transparent with changes impacting customer (for example, notifying of change in interest rate calculations) . While staff are generally polite, they often lack basic knowledge of their products and it takes much explanation and followup to speak to the correct person
I have been trying to refinancing my home loan and I have submitted my dispatch form on 8 May and they have not settled the loan yet. They send the documents to Perth instead of Canberra. I am having financial stress due to this. I have escalated the situation with Westpac through their team, but all the call goes to outside Australia. The process is so inefficient. Today, 4 June, the loan has still has not settled and they could not figure out where the document has gone? Westpac is so careless about the security documents. Please do not do home loan with Westpac. Westpac team is very Inefficient. They won't let you release your property. Could someone please suggest to me where to complain about this.
Our local branch staff were utterly incredible, keeping me in the loop every step of the way. The loan was processed in a timely fashion. Their head office processing centre mucked them around twice, which was annoying. The way the girls handled the issues was exemplary. Post loan follow up was incredible too. I really felt like I was more than just a number.
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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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