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How highly do you rate your bank?
Looking at changing banks


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#1 Fire_fly

Posted 05 December 2012 - 06:37 PM

I have been with the commonwealth bank since I opened my first account at around the age of 13. So for 17yrs I have held accounts there. But I am thinking about switching banks.
Can anyone tell me what their bank is like. Do they give good service? Would you recommend them?
I guess I am just wondering what is out there and wether its worth my while to shop around for a new bank.

#2 whale-woman

Posted 05 December 2012 - 06:47 PM

I regularly shop for banks and have no qualms about changing banks if I'm not getting the deal I want. If there's a deal out there I want, if my present bank wont match it, we move. I have a bunch of financial products often at different banks as they're offered me a good deal at the time so I have no qualm having multiple accounts at different places if its suits me. It does get a little complicated at times though.

It is a bit of a pain to change over debits and stuff but statistically people are crap at changing banks, sticking with the bank they were signed up to as a kid and often get a raw deal.

We're with NAB currently and they've been great. We were, before that, with ANZ but left as we felt badly treated. NAB have been great so far. I also like ING too and have used them lots in the past. I've over the years had accounts with all the big 4 plus a few of the building societies...

Edited by whale-woman, 05 December 2012 - 06:57 PM.


#3 Pearson

Posted 05 December 2012 - 06:51 PM

highly recommend ing and st george

#4 halcyondays

Posted 05 December 2012 - 06:53 PM

I highly recommend changing banks regularly- suddenly, when you want to move, your own bank will offer to "match' what the competitor does. Unfortunately, all the banks tend to provide much the same service at the moment.
You can negotiate reduction in fees etc. If they won't negotiate to your satisfaction, move across, even if the other bank has the same deal. It keeps them offering a better service. My husband and I both had credit cards from the same bank, and he was stunned to discover how much better a deal I had.

#5 Duck-o-lah

Posted 05 December 2012 - 08:03 PM

QUOTE (Pearson @ 05/12/2012, 07:51 PM) <{POST_SNAPBACK}>
highly recommend ing and st george

Agree. I used ING for years, only swapping in favour of a mortgage offset. I have done everyday banking with St. George for years and have also been very happy (I left Commonwealth as my local branch was rubbish).

#6 *Lib*

Posted 05 December 2012 - 08:05 PM

We are with Bendigo, we walk in and they know who we are, they call my daughter by name. Its a lovely feeling.

#7 adl

Posted 05 December 2012 - 08:09 PM

After being with ANZ for years I quickly found no such thing as rewarding loyalty of being a good customer,I have been much happier with Bankwest, I like the extended branch hours, products and service, my local branch even give me their email address so I can send things through so easily none of this only ring a general number BS that the big 4 do...

#8 jenchristo

Posted 05 December 2012 - 08:09 PM

Regarding direct debits, isn't there a new regulation that says the bank has to look after these details for you?

#9 tick

Posted 05 December 2012 - 08:11 PM

I've been with ING, CBA, Bendigo and NAB.  Love NAB, they've done a lot for us and are good at reducing fees or changing things when I threaten to leave them for another bank!  

ING were good too but couldn't do our new mortgage and weren't even interested in trying to accommodate us, so we left them for NAB who jumped through hoops to get our mortgage.

#10 IsolaBella

Posted 05 December 2012 - 08:16 PM

We left NAB for HSBC when NAB even as a staff member could not match HSBC for our mortgage.

I am also with Qantas Staff CU and DH is with CBA.

TBH apart from mortgage I feel they are all much of a muchness.

We will probably change mortgage again in 2 yrs when our fixed rate period expires and once again go with who can give us the best rate.

#11 axiomae

Posted 06 December 2012 - 09:56 AM

I'm with Bank MECU. They're a customer owned bank (meaning the shareholders are all the people who bank there - you buy $10 worth of shares when you open an account) so there are no exorbitant fees. They're totally environmentally and socially sustainable too, which I LOVE. No upselling, no haggling, just easy wonderful service. Only downside is there aren't many branches, so everything is done online or over the phone unless you're in a capital city. I don't use cheques though so Ive never had a problem with that. Their mortgages are awesome too.

www.mecu.com.au

#12 Fire_fly

Posted 06 December 2012 - 10:04 AM

Thanks everyone. I think I have some research to do!

#13 qak

Posted 06 December 2012 - 10:07 AM

Why are you thinking of changing?

#14 KylieferalMin0gue

Posted 10 December 2012 - 12:48 AM

I used to be with a credit union but switched to NAB because of all the fees.  Am very happy with the NAB.

#15 solongsuckers

Posted 17 December 2012 - 10:03 AM

I wouldn't go back to ANZ if they were paying me, that's how bad the service has gotten

#16 75etd

Posted 17 December 2012 - 10:16 AM

Am with Suncorp and have been for years. They are competitive with mortgages, and often match deals offered by other institutions. The number of branches in Sydney is growing....but I don't go into branches often. Their offset facility is great and enables you to have multiple offset acs which we label on our Internet banking and use for different purposes eg holiday account, kids accounts, bills, everyday access

#17 FeralBob!

Posted 17 December 2012 - 10:18 AM

St George are NOT my favourite bank atm, we've been trying for the last 6 months to combine our two homes loans (one for land and one for building) and they STILL haven't done it  rant.gif Not to mention that apparently what we are doing is raising another loan to pay off one loan and then adding the new loan to one of the old loans  wacko.gif It didn't help that the twit at the bank when I phoned up asked whether we could afford another loan and whether we could pay it off. Well, yes we can and yes we are, given that we're already bloody paying it  glare.gif ARRRRRGGGGGGGHHHHHHH!

*cough* Sorry. As you were wink.gif

#18 *melrose*

Posted 17 December 2012 - 01:08 PM

depends what state your in but i am with boq (bank of queensland) and have never had a fault with them.

#19 Therese

Posted 17 December 2012 - 01:13 PM

We have been with Suncorp for years and have always been really happy with them.

#20 Clever Clogs

Posted 17 December 2012 - 01:15 PM

Very happy with ME Bank, and Sydney Cedit Union

#21 Coffeegirl

Posted 17 December 2012 - 01:23 PM

QUOTE (It'sallgood @ 10/12/2012, 01:59 AM) <{POST_SNAPBACK}>
We've now got almost everything with Westpac and have for over 10 yrs. I really can't fault them. EVerywhere we have moved to, we've had excellent service from them. They seemed to be the first (and still it's unusual from what I can tell?) where the person who you speak to, either by phone or in person, actuallly follows up to ensure you have gotten the service you want.

They seem very reasonable with fees and do good deals for us.

My husband is a PITA with finances!! But even HE admits, he's not tempted to go elsewhere anymore because we get such good service.

A few years ago, we bought an investment property. Hb insisted he could get a "better deal"....uuummmm...royally stuffed around by the mob he ended up deciding on, the paperwork was endless and onerous. In the end, we had to get an extention on settlement because nothing could get done in time  mad.gif  Rang up WEstpac, and it was sorted in 5 days!!!! The previous mob had us still filling in crap documents after 30 damn days  rolleyes.gif

Yes, they ARE one of the "big 4" and people love to hate them. But the staff at Westpac, anywhere we have lived, have always been SO easy going and willing to sort things out and we HAVE had some complicated and "non-Kosher' situations over the years, but they always find a way around it for us and sort it out.

WEll done Westpac  wink.gif

Tamm


Bahaha!  I have had the total opposite with Westpac.  Nothing but problems and issues. To the point we had to get the Ombudsman in.   Our "personal banker" changed every 3 mths so we had to continually go back through all the problems.    Personal favourite was when we went to switch banks and they sent our file to retention/  Once I spoke to the manager of the retention team and they actually looked at our file they released it immediately.  Was no way in hell we were staying with Westpac.


With ANZ now for two years and couldn't be happier.  The local branch manager is absolutely lovely and has actually suggested ways for us to save money on our mortgages.  In fact with her last suggestion we will save over $30,000 in interest and 6 years off our mortgages!



#22 Foogle

Posted 17 December 2012 - 01:28 PM

Very happy with Commonwealth bank (That's going against the grain now isn't it  biggrin.gif )  

Business-wise we have been with them for many years and cannot fault their service either over the phone or in branch.  (Two particular branches know me so well now, that when I walk in they offer me an vacant office to sit down and write up the banking - original.gif  - It's the small things that count)

We recently refinanced our primary residence removing it from Suncorp who could not match the concession that CB gave us and neither could any of the other banks. Other mortgages are also with CB with an equally good concession.

CB also waive our CC annual fees.  I love CB. original.gif

Edited by Foogle, 17 December 2012 - 01:29 PM.


#23 Corella

Posted 17 December 2012 - 01:46 PM

I am with INGDirect and Suncorp. I adore INGDirect and they have been amazing in service, offerings and just in general.

Suncorp on the other hand have screwed up every, single, STEP of the way with our banking with them. Unfortunately we aren't in a position to change from them due to the structure of our mortgage, at this stage.

#24 LifesGood

Posted 17 December 2012 - 01:48 PM

QUOTE (Foogle @ 17/12/2012, 02:28 PM) <{POST_SNAPBACK}>
Very happy with Commonwealth bank (That's going against the grain now isn't it  biggrin.gif )

Same here. Been with them since I was in kindergarten.

I work for one of the other big banks yet I remain with CBA because they look after us very well. I never have to threaten to change banks to get a good deal, they offer me better deals voluntarily. Recently we applied for additional finance to fund our extension and not only did they organise it all over the phone with no inconvenience to me or DH, but they then reduced both of our loans by 0.5% without us asking (and we were already on a discounted rate!).

We pay one annual fee for all of our accounts/loans/credit cards. If I get charged any other fees I ring up and mention our annual fee and they refund me without further question. Even if it is a *cough* dishonour fee (VERY rare of course original.gif)

Having said all that, the banks all classify their customers into categories depending on 'net worth' and number of products held. So if you are not 'worth' very much (in $ terms) and/or you only have one or two products with them, they don't tend to put in much effort on you relative to customers that are in those categories.

So if you want good service from your bank you just need to be wealthy and have all of your banking products with one company. Easy! (Disclaimer (because this is EB): I am joking of course)


#25 harryhoo

Posted 17 December 2012 - 02:01 PM

It might also depend on the branch. I've been with Commonwealth since my dollarmite account opened in kindy. Have done everything through them and am always really, really happy with the service i get both in person and on the phone. In fact, I don't think I've ever had major complaints about them.

But recently due to a few factors we had to change our mortgage and joint account to NAB. They have caused me nothing by grief! So, so, so annoying. This was a branch in the ACT though and was specific to the people we were dealing with I think. I've found when I've done phone banking they've been much more helpful, but still have not been happy with the service at all.

So maybe in your research also look at the various branches.




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