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James L.Sydney, NSW
- 2 reviews
Terrible processing time. Non transparency.
Been with BT for 5 years. Couldn’t even find the return on investment or contribution figure on their statement. Terrible processing time when you want to roll out or withdraw. Stay away from them. Wish I had seen the reviews here earlier.
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Brian D.
- 4 reviews
Terrible
Been with them for years, only because they make it difficult to change to another super provider. Every single time you want to do something with your super or make a change it is unreasonably complicated and hard to do. High fees, low benefits. Stay away from BT
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SJESouth East Queensland, QLD
- 3 reviews
Absolute disgrace! Avoid avoid avoid
I was with this super company for a few years, I called them numerous times to cancel my death cover only to find it hadn’t been cancelled. I am now dealing with AFCA to deal with them for the money they kept stealing from me..... avoid avoid avoid. Just look at their terrible reviews..... another bully company that treats their customers like craps..... backed by Westpac of course. Anyone considering them Don’t!! And anytime that’s with them should do themselves a favour and switch!
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Square Onions
- 12 reviews
I Spoke with Paige at BT Super
I have been with BT for 10 years and the performance was no different to my other super fund with another company same returns the share & money markets the last couple of years have been up and down like a bookie.
The reason for my review was I recently withdrew my super as I am retired now and I spoke with a young lady named Paige very helpful she told me my super would take 5 to 10 days to be in my bank account and then I started reading all the reviews about BT & my belly sunk I thought it is going to be a nightmare getting my money from BT so I rang again and was assured all was on track and it was on the 5th day all my money was in my bank account as promised Thank You Paige your employer should be proud to have you as an employee.
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Jagan V.Greater Melbourne (Outer), VIC
Been with BT for 6yrs..worst performing super..
6yrs
Completely dissatisfied.All I could see is the money I contribute no performance and simply paying heftyadministration fee .And now they are increasing admin fees too which is a laughing stock.
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Rip Off. Will never tell you where they invest your money, ever.
BT is a rip off fund owned by Westpac. The only reason they have customers is that they offer employers incentives. I have asked them repeatedly where is my money invested and they have never given me an answer. Over a 9 year period the fees have been more then my contributions. I would have more money today if I kept it under my bed. They invest a lot of money in Westpac or Westpac affiliated companies such as Westpac Life without informing you.They are being sued at the moment by thousands of customers. Get your money out quick and invest in an industry fund before it is too late.
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Emad BabaGreater Melbourne (Outer), VIC
- 2 reviews
- Verified customer
Worst Super Fund & Life Insurance Plan in the World... Just another Scam... BE WARE...
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
onally failed to inform us is that the BT Super Life Insurance policy is tailored designed not to pay. Firstly, the life insurance policy expires at the age of 70 in a country in which men have a life expectancy of 80.5 and women have a life expectancy of 84.6.Similar opinion? Write a review on ieatwords.com.au!
Justin S.South East Queensland, QLD
Hopeless, waste of time.
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
already been transferred please ensure you transfer me to the correct department for insurance this time. After another 13 minutes on hold and having to identify myself again for the third time I was then told I would need to be transferred again to the insurance department. I can not believe after more than half an hour on hold and being transferred for the fourth time I still have not been able to get anywhere with my inquiries. After reading the other reviews on here I will be moving my super and insurance needs to another company. Never have I been transferred and had to identify myself four separate times. Waste of my time and an absolute embarrassment. Worst service I have received in a very long time.Similar opinion? Write a review on ieatwords.com.au!
SaraSydney
- 2 reviews
Started loosing money the second i moved into this
I was convinced to move my super and insurance policies across. Worst mistake ever!
The insurance policies kept going up significantly, til i cancelled them and my super just refused to grow, all their fees and charges basically matched any money earned or added. Compared to my husbands who is not with BT and now ahead of me in super even though his contributions have always been well below mine. Very dodgy super they will milk you for ever dollar
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Find out how BT Financial Group compares to other Retail Superannuation Funds
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S. RingshawMetropolitan Adelaide, SA
- 3 reviews
Money grabbers
I was pressured to switch my Life Insurance to BT, (Westpac Insurance services) that was 5 years ago. I receive one letter a year from BT to advise my premium is increasing and nothing further. Since switching in 2014 my premiums have doubled. I have received a letter from them today advising my premium has again risen by nearly $70.00 extra per month. I am now looking for a new insurer, I can not afford to maintain this policy. Nothing but money grabbers!!!
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YashSouth East Queensland, QLD
- 4 reviews
Worst performing super not surprise they have been sued due to dodgy practice
Dodgy super fund backed by big bank. My super has performed worst in last two years thanks for the ongoing BT scam. To my surprise,i was charged $200 exit fee. Stay away from this dodgy super.
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Gerard CarrascoGreater Melbourne (Outer), VIC
- 2 reviews
Non Transparent Company
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
think they can do whatever and not be accountable to anyone. The way their rounding is done on the calculations is not normal. The result is that they tend to hive away any cents rounded that should be allocated to the customer.Similar opinion? Write a review on ieatwords.com.au!
Please read this before signing any policy with BT Life or Westpac Life Insurance
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
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janaAlexandria
- 9 reviews
- 9 likes
Poor service
A fund was set up for son via employer with BT what a nightmare, each time you speak to them they have lost original information or not on system, Been set up several times and each time have to call them as not in system. Very frustrating and time wasting especially for low income funds. Many better providers available to assist, choose wisely.
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Adam S.Eyre Peninsula, SA
- 2 reviews
- 2 likes
Criminals!!
They promised me that my superannuation would be paid to my bank account almost 2 months ago, I was told it would take 5 business days. I'm withdrawing my money from BT Super as have constantly messed me around with two separate claims with a total of 7 months spent waiting for either very simple services or very simple answers.
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Find out how BT Financial Group compares to other Retail Superannuation Funds
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Ben K.South East Queensland, QLD
SuperWrap fees are excessive
On a balance of around $450,000 I was paying around $3,000/year in account keeping fees on BT's SuperWrap plus management fees on underlying funds.
I switched to a low cost industry fund that was simpler and had all the features I wanted. The account keeping fees for the same balance were less than $400. Get your money out of these rip off funds into industry funds.
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Michael DugganGreater Melbourne (Metropolitan), VIC
- 18 reviews
Spoke to Mitchell who was REALLY helpful
Been with them for 7 years and suddenly realised I am on a cash option, spoke and they were very helpful. So I have to confess I felt much better. Was a bit about not getting the callback I had asked for but to be honest not much of a wait to get thru.
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John R.South East Queensland, QLD
They're a very dodgy company
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
m only to turn around when I asked about where the charges were going they said I know that that was a mistake there's no financial advisory attached to the fund I'm glad to have got me money out of the fundSimilar opinion? Write a review on ieatwords.com.au!
Maurice G BoyceSydney, NSW
- 29 reviews
What is Happening?
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
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Nate Q.Sydney, NSW
Monsters Who Wouldn't Pay Out A Claim
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
tive to hang up on my when I chased up a series of emails and follow ups that I had sent MONTHS prior. As an award winning business I am disgusted with the service from BT Financial Group. We have been working with insurance groups for the past 15 years with zero issues and now they are trying to take advantage of people who don't deserve it. In addition to this they are rude and have no respect for their clients whatsoever. I don't want to publicly name people but I would be very disappointed if I had been involved in the process.Similar opinion? Write a review on ieatwords.com.au!
Questions & Answers
Mere Nitivaasked
Can I withdraw my retirement wrap fund
No answers
Peterasked
Hi, am puting in a claim for SCI, on going through the claim forms have found them to be very excessive for a claim. My treating doctor and surgeons reports should all that should be required for claim, I am a contractor and they require claim forms from my employer?. They want me to fill out my own accessment forms?????. I am a contractor I am the boss. BT super are quick to take my money for said SCI insurance. I am covered for $5240.00 per month as stated on policy but not the case, they want 3 years of tax accessments? WHY. They only pay 75% of income not the $5240.00 I have been paying premiums for. I think my best plan is to give to my law firm and the government authorities to investigate as I find it just seems a way of not to honour my claim.
No answers
Corinne H.asked
Im have recently had a personal injury and i am waiting on my salary insurance with BT,
can you guys provide any info?
No answers
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