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As of the 17th of August 2015, Mecu rebranded to Bank Australia.
39 questions from our users
Hi there, I live in Tasmania, in the capital, Hobart. I am keen to dump being with one of the big four banks because they continue to support the fossil fuel sector. I am also a very strong supporter of there being no live animal exports too. I am really keen to move all my banking (which is really mainly savings and a credit card) to you but am just a little concerned there is no representation in our whole state yet. Have you got any plan to address this? Would your foresee any problems in having me switch all my banking to your organisation when you have no physical presence in the State? ( It would certainly mean any credit card etc would need to always be mailed to me... unless you have established any collaborative sharing arrangements with any other institutions here... Thanks hope you can advise a response. Like anyone these days I have a range of payment arrangements tied to accounts and credit card that would mean I need prompt process enacted to switch over... Thanks,
Hi Hilsy. Thanks for your message. We would love to have you as a customer. We don't have any plans to set up in Tasmania just yet but we'll pass your request on to our team. While we don't have a bra...
Read morench, you can absolutely do everything online through Internet Banking or our app or by giving our Contact Centre team a call on 132 888. Rest assured that we have a lot of customers who don't live near a branch but can get their banking done just as easily! We hope that helps. - Sarah
Are deposits with Bank Australia backed by the government guarantee?
Yes, same as any other Australian bank
Hi Susan, thank you for your question. Yes, deposits with Bank Australia are covered by the Government Guarantee - we’re regulated the same way as all Australian banks.
We’re registered with ASIC and...
Read more regulated by APRA. We hold an Australian financial service licence (AFSL), an Australian credit licence (ACL) and are an authorised deposit-taking institution (ADI).
As a first home buyer what happens if the bank under valued the property I put an offer on. I’m already at 95% loan and have the new government scheme. Will I miss out on the loan?
Hi Maddie. We send out independent valuers to value the property and it's reasonably rare that a valuation comes in below the purchase price paid by a buyer. If that did happen, it would mean that we ...
Read morewere limited to providing finance for up to 95% of the property valuation. Give us a call on 132 888 and you can have a chat to our Lending Team about what you'll need to do in this situation.
Hi, I'm thinking of changing banks - I'm currently with Westpac. You do not appear to have a branch in Cairns where I live. Are there any significant disadvantages in not having access to a physical bank branch?
Peter Senior, [email removed]
Hello Peter, thanks for reaching out! We’d love to welcome you to responsible banking. You honestly don’t need to visit a branch in order to bank with us. In fact, many of our customers happily bank w...
Read moreith us online or over the phone. Please feel free to give us a call on 132 888 if you’d like to chat further. We’re available from 8am - 8pm Mon - Fri, and 9am - 2pm Sat (AEDT). Thanks - Bank Australia team.
The only time it has been a problem for me is when I wanted to withdraw cash above the atm limit. This requires going to a branch currently I am retaining my old bank account to cover this eventuality.
To Peter, The answer to your question depends on your banking needs. I do believe that if you need a bank cheque to buy for example: - a car, you probably do need to go into a Bank Australia branch.
Dear Bank Australia,
Do your bank can give mortgage/loan for foreigners (non-PR) who bought Australia property such as Indonesian ?
Thank you.
Melky
Hi Melky,
Thanks for getting in touch. Unfortunately our lending policy excludes non-citizens not residing in Australia. Non-citizens residing in Australia must have permanent residency to apply for a loan.
Thanks - Bank Australia team.
Why would a community bank like Bank Australia be a member of The Banking Association and why on the list of Industry they don't support, the alcohol industries is not listed?
Are you in Western Australia?
Do you have services for Pensioners?
What are you fixed deposit rates & terms?
Does BA do family trust account ? Online banking for such account ?
Just wondering if there are any plans for a branch in the Newcastle region?
When will the Kyneton branch reopen? It’s been closed since 25 February and there’s been no update to the information stuck on the inside of the door since the initial closure.
Hi Tim, thanks for your question.
The Kyneton branch has been closed while we’ve been assessing a mould issue with the building. This was necessary to ensure that the health and safety of our employees and customers was protected....
Read more We've sought advice from specialist remediation contractors and we are currently assessing the options available to rectify the damage. We expect to be able provide our customers with a further update in the coming weeks. While the Kyneton branch is closed for repairs, you can contact us on 132 888 8am-8pm Monday to Friday and 9am-2pm on Saturdays AEST or visit one of our nearby branches in Castlemaine, Bendigo or Watergardens. We’re sorry for any inconvenience caused by the extended closure of the Kyneton branch and appreciate your patience. Thanks, Bank Australia
What is your interest rate payable on $450.000 australian dollars over a six month or twelve month period ?
Hi Alan B, please give us a call on 132 888 to chat through our rates :)
is it a good bank for itnernational students?
Hi Marina, customers bank fee free under 25. You'll have access to internet banking, the app, Apple + Google Pay as well as Osko's instant payments. Here's more details: https://bankaust.com.au/personal/manage/transaction-accounts/everyday-access/
Hello! Do you have any Small-Business specific banking products? I am a freelancer, and looking for a bank with the lowest fees possible, and a debit/credit card. As I mostly transact online, it's important to accommodate international sales without additional fees. I would prefer a bank that would also allow upgrading to eftpos facilities once I start selling physical products. Thanks!
Hello! We have a Commercial Access account which is designed for our business customers who want to transact with a debit card. This account has an $8 monthly fee with unlimited transactions, includin...
Read moreg online. In terms of the international sales we'd need to chat through your requirements to provide suitable information. We don't offer our own eftpos facilities however we can refer you to our partner, First Data, to assist when the time comes. Please let us know if there is anything we can do to help with finding the right product for you. Thanks, Bank Australia
Can someone please tell me about their ATM fees? As far as it seems, only RediATMs are fee free? I can't find their fees for the other more common ATMs anywhere.
Also, what happens if I don't have $5 in my account to pay the monthly cost. As I live overseas, I don't always have a reason to use my Aussie bank. Will they just close my account outright if there's nothing in it?
How's the experience for overseas residents? I'm really interested in being a member because of their ethical background, but I'm not sold on the idea as a person living primarily overseas.
Hi Danpas, all rediATMs are currently fee free for Bank Australia customers and will remain so until 31 December 2018. From the new year, fee free withdrawals will apply to Bank Australia branded ATMs...
Read more and all of the major banks’ ATMs. The $5 fee is waived if you deposit $2000 or more into your Everyday access account each month, however given you live overseas we would suggest that you consider a non-transactional account such as our Bonus Saver or Online Saver. These types of accounts don't attract a fee. For more information visit https://bankaust.com.au/personal/save/savings-accounts/.
I am looking at changing banks - where is my closest Bank Australia Branch. I am located in Coogee Western Australia
My contact was only for a small home loan with BA, which was by phone and Internet to Morwell Victoria, so I didn’t use a branch and can’t answer your question. We use Bank First which has a great sav...
Read moreings account service and you access Commonwealth Bank branches and facilities and I haven’t paid fees for years.Hi Me6, thanks for your question. We don't currently have any branches located in Western Australia, however we have several customers who live there and bank with us using our phone and internet banking services. Thanks, Bank Australia
How many customers have larger amounts in term deposits than the government guarantee?
Hi, thanks for your question. We’re not able to publish details of customer term deposit balances. For information on how the government guarantee applies to our customer deposits see https://bankaust...
Read more.com.au/about-us/customer-centre/financial-claims-scheme/.
Interest rates?
Upon my wifes renewal we were offered 2.8 percent for 12 months, so I opened another account very happy with the bank australia so far.
Hi Don, you can view our interest rates for savings and term deposit products here:https://bankaust.com.au/personal/save/. If you're looking for interest rates for our loan products, you'll find these...
Read more here: https://bankaust.com.au/personal/borrow/. Thanks, Bank Australia
I would like o know if you deal in Reverse Mortgage?
Hi,
We don't have Reverse Mortgages as such but you can give us a call on 132 888 to speak to a lending consultant to explore other options. ...
Read more Thanks, Bank Australia
Any recent dealings with BankMecu? They have a low home loan interest rate going at the moment. I'm keen to know if their customer service has improved.
Hi Kellie
This was my one and only time that I deal with them and I would not do it again personally. I was also attracted to the low interest rates but they were incompetent at best. They may hav...
When someone tells you "no" you're never likely to race back. I've stayed with ING who don't have the same community focus as bankmecu, but are competitive on price and do make it simple for me to dea...
Read morel with them. I actually wanted to switch to bankmecu because of their community focus, but given the run-around and then told I need a $150k+/yr income on a $300k mortgage, just because I currently live overseas, was a farce.
I am really disappointed to hear that it was such a bad ordeal for the two of you. I am really impressed by their stated values and the low rate, but I'm not willing to get bum-steered by a financial institution.
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