BT Financial Group

1- My wife and I were advised by the Bank of Melbourne in November 2013 to switch our existing super funds to BT Super.
We did not know back then that the Bank of Melbourne and BT Super are different faces for the same business which is Westpac.

2- When we both did the transfer to BT Super, we were not required to provide any information about our pre-existing medical conditions or submit any paperwork.
We were told that the life insurance policy that comes with the BT Super doesn't care about your medical conditions.

What they have intenti...Read more

I bank with Westpac and have BT for life super. Upon purchasing our first home I thought it would be a good time to review my Death and TPD insurance cover and take out income protection insurance. I called BT and was on hold for 18 minutes to then after identifying myself be told that the operator was not in the correct department for insurance and he would have to transfer me to the correct department. After another 11 minutes on hold and identifying myself for the second time the operator said they would have to transfer me again I said I've...Read more

I had invested in the BT International Shares fund in 2000, with regular monthly deposits every month until 2009. The promise in the prospectus at the time was that regular quarterly distributions would be provided, however at the fund manager's discretion. Todate, there have been 19 distributions in 80 quarters approximately. One would imagine that if there is going to be no distribution for the quarter, the manager would be responsible enough to provide the background to the decision of not providing any distribution. However, BT appears to...Read more

NB- I have a very Reasonable claim
1. My experience doesn’t match BT’s claims process product promises in their prospectus
2. BT have Been very antagonistic, aggressive approach from the outset of my claim,
3. Slow claims process...
1.5 years after claim and no honouring my insurance claim
4. Had to hire lawyers at much costs
Up for a fight
5. Threaten to close my policies on “disclosure” issues let alone not honour claim
6. This has been unbelievable time consuming, arduous, stressful and distressing at a time in my life that is already ...Read more

They migrate your fund from one fund to another with and there's nothing much you can do about it you can't get any information out of them half the time they hang up on you when you try to be on hold with them then when you try and get your money out of the fund into another fund mysteriously all of a sudden your balance drops overnight so that there are only transferring a certain amount I wouldn't touch them with a barge pole at one stage they told me there was a financial advisor attached to the fund for years and would I like to remove the...Read more

I have had a small supplementary fund with BT since 1970. It has been a good fund with NO fees and for the most part quite good returns. There have been some years with a euphemistically described 'negative return'. Since my retirement I have made occasionally withdrawals which have been paid promptly.
However a few week ago I received a communication from the BT group that my existing funds from my superannuation investment account have been transferred without my permission to BT Super. BT said the reason for this was to reduce fees. I did as...Read more

Appealing service from BT Financial Groups insurance arm. Flat out refused to pay my client for works that were required.

First they lied regarding their obligation to pay out a claim. Once this was completed they changed their tune because legally they had to. Then they tried to offer such an insignificant amount for works that needed to be completed.

Made it out like they were going to be fair and put me on hold then transferred me through to several different departments before saying that they think it was reasonable for their representa...Read more

I've been with them since 97 up to just recently now that they have migrated all existing supers to a new format you can't get any information about your super account in the present or history you cant track it only the day of change over 12 April 19 that's it as i've mentioned on your online account you can't check your current balance or history and what's worse they can't provide that information, how frustrating this is grrrr..... the facility is there but deliberately deactivated apparently you get a mailed monthly statement this ju...Read more

I am an adviser working with a client to help them roll out into a more cost effective super fund of their choice and they have applied for new insurances with a retail insurer with application being accepted and the client expecting a rollover that should take a maximum of two weeks. We supplied rollover forms 4 weeks ago and BT contacted the clients old adviser who is no longer acting for the client, and hasn't contacted or dealt with the client in over 10 years, then they contacted the client to ask him whether he would like an in-specie tra...Read more