RaboDirect High Interest (page 3 of 4)

The digipass system for online banking is extremely inconvenient. If you don't use it frequently enough, it needs to be reset which involves calling the very slow customer services line. This is particularly inconvenient for me as a savings account user as I do not log on frequently. Overall it is an unnecessary inconvenience.

I took out a Term Deposit with RaboDirect and also NAB at the same time for the same period. I had double the money in the RaboDirect term deposit because they had a better rate than NAB. I had to cancel both Term Deposits early for unforeseen circumstances. With RaboDirect I did it over the phone, took less than 2 minutes, they told me it would be a $25 fee to close it early and that was it.

With NAB however they had to send me a form, fill it out and send it back and they couldn't tell me how much the fee would be until much closer t...

RabboDirect are no good, avoid them the customer service phone number takes 30 - 60 minutes to answer, the internet banking is complex, requires an electronic token. I tried to transfer $250,000 into my account today and my bank told me the BSB number that RabboDirect sent me is invalid. Now I am sitting here wasting an hour trying to get my $20 back.

We set up an account with Rabo to get the high interest rate. We have never encountered such an unnecessarily complex security arrangement with any other bank. It required two calls to the help line to get set up as one error and you get locked out. The instructions are not at all clear and you face the multi-step process every time you log in. While we understand the need for security, other banks have much simpler systems to set up, negotiate and maintain. The Rabo bank system has just not been thought through from a customer perspective. Once the high interest period is over we will close the account down.

RaboDirect provide great service, great security and great returns on your investment. The call staff were great and I would highly recommend them and this account.

My experience in trying to open a HISA with Rabo Direct was frustrating and arduous.

Alarm bells rang for me when we were required to have documents posted in the mail, rather than electronically submit like I do with every other bank I have dealt with. I am always quite skeptical about companies that haven't adapted to modern forms of technology and still conduct business with out dated practices.

After sending in the requested documents, including a JP verified copy of my drivers licence, they were knocked back due to the fact that the...

I opened my online account a week ago but I have had to wait for the snail mail to be able to login to my account. Hey guys you are an online bank it should all be able to be done online. So after waiting a week ( a week of wasted higher interest rate) The Digipass (seriously) arrives in an open state and all my customer details in the attached brochure. Thank God I had only transferred $1 into the account. This will be the quickest account I have ever closed.

We have used Rabo Direct for many years, good iterest rates and never experienced any problems. The mobile App is perfect and no need to carry the digi pass for access. An excellent online banking system.

I just opened an account with them and the process is quite straightforward. Had a bit of hiccup with the Digipass initial setup as I did not enter the new Pin immediately but the customer service staff was quite helpful. Interest rate is quite good compared with others. However, after a while I got tired of the complicated steps required to log in and transfer money. Maybe it is good if you want to save money as it is too cumbersome to get money out of this account!

I was with RaboDirect since September 2013. I closed my account (because of higher interest with ING, an extra 1.25%) & they confirmed that closure on 22 March 2016. Since then they've continued to take deposits from my linked savings account, the latest on the 8 April! I emailed them about the earlier deposit they'd taken but did not get a reply, instead they've continued to take money when they had no authorisation to do so. I'm frustrated with them for not giving me any answers & continuing to take my money! Their systems are obviously very poor & I would NOT recommend them.

Does everything it says it does......once you get the hang of the system it's a breeze. Reliable accurate and attractive

Great savings rate. Great bank rating (security). Very secure service. No complains at all.
Some people complain about the account setup - i dont remember this being a pain but maybe it was. Once setup it's perfect. Good webbanking site as well.

Unfortunately I had to give 1 star to write this review - this is way too high. It took almost 2 weeks to open an account! The idiotic security procedure is beyond belief. I didn't enter all those 20+ digits twice in a row and was blocked out completely. Am I supposed to carry this electronic gizmo with me all the time? The interest rates are not even better than Me bank or RAMS. Intro rate for 4 months to attract new costumes? Please Rabo, don't waste my time and valuable disk space on servers, shut down your websites and go away.

I'm looking at putting money a term deposit. Every other bank I've considered (ING, ME Bank, etc) shows on their web site how they calculate the charge for early termination of the deposit. Rabodirect, though, will only say that "The termination fee is equal to our break costs (as determined by us) plus a processing fee of $25.00".

I've tried to get more information from customer service but they refuse, saying only that it depends on interest rates at the time and other factors. They won't even give an illustrative quote on the break fee b...

I have set up an account with RaboDirect and it was a lot easier than I was led to believe. I like the additional security that the Digipass system provides, and the interest rates are superior to most competitors. It is still early days, but so far I am impressed.

Deduct two stars for the application process are not as straight forward as it seem. When I try get my parent to setup an account with Rabodirect even those they submit all the details and sent in the application form, RaboDirect fail to sent the digipass or account number and yet they keep repetitively tell my parent to link an account with them by email. When I contact Rabodirect to see what's the deal on their behalf, since my parent don't speak English that well. Got told I need a power of attorney for that. Touch wood, too much hassle for ...

A little surprised at many remarks made here about RaboDirect,I have been with them since Early 2011 and have had no problems with service or running of my account.Always prompt in handling my questions their staff were great, in short it has been a pleasure.Takes a little bit of getting use to as i had not used an online banking account before or digipass but it has been worth it .Recommend them to anyone with a little bit of nous.

The " straight talking online bank" what a joke, terrible complicated service with security system " digipass" needed and being cheap and unreliable Chinese junk, shame their Notice Saver account is innovative but their customer service is just too poor, very disappointed that this worked out the way it did.
Notice Saver Account is innovative
poor and complicated customer service, complicated and faulty security device

If you open account with another bank and you have no money in that account, you can't transfer any money to that account from Rabo, as the account can't be linked! You must send $1,~ from the other bank account to Rabo, but you can't as the account have no money.
Any other bank deposit what they call "grace" deposit of AU1c and that way the accounts are possible to link.
But forget Rabo, they do not do that! Are they so stingy?........Probably.....

I was told on phone, that I couldn’t have more than one linked external account from oth...

I opened my RaboDirect savings account about a month ago now, my money still isn't in there because I'm too scared to put it in there! First I got my welcome letter, with a spelling mistake in the first paragraph, not the end of the world but just makes you wonder about their attention to detail. When I received my digipass I excitedly tried to log on to check if my test transfer was there, to find the website would be down for planned maintenance from 2pm on a Friday through to the Monday! That's must be some serious maintenance, again made me...

I've been trying to get a Digipass working for my new Rabodirect account for over a month now. I'm sure they only have three people working in their call centre. Two weeks ago, there was a recorded message saying that they were "exceptionally" busy and to please leave a message so that they could call back. I left no less than three messages over the course of a week and nobody bothered to call back.

My partner (joint account holder) tried emailing Rabodirect and got a message asking him to phone the call centre. He emailed back to say ...

I noticed from the reviews here that various people are dissapointed with RABO's response time to issues.
I wanted to become a customer so twice now I've used their online email asking a simple question.
But the only response has been an automated reply promising to respond within 2 business days.

Seems to me that Banks in Australia just don't want your deposits. And once you are a customer they don't care if you stay or not.

If the RABO Reps are monitoring, convince me!
RABO looked good but without communication it cannot be good.
Good web site, maybe good security.
Doesn't even communicate with potential customers.

My family has had 6 Rabodirect accounts between us in the last few years.High interest, term deposit and premium saving accounts are all in use and with no problems. Using the Digipass was intersting to learn to use ( I keep misplacing it) but even this has not been a problem.

Once the initial setting up process is done,everything is in it is very simple to open, rollover(term deposit) or close. I live in regional WA and do not have access to most of the financial institutions that are available on the East Coast of Australia, so I am qu...

Started with Rabo - had the same challenges like other folks. Device showed numbers incorrectly but was replaced in 3 days. Total setup time was 10-15 days. Having said this the interest rate being offered was pretty good and I was interested in Term Deposit. Therefore, would recommend for folks who can live through a pain of 10-12 days to enjoy benefits over a longer term.
Interest Rate
Tedious process

I agree with previous reviews. Took about 10 days to set up. And the security device is really stupid. The Comm Bank is much better. Then I had to ring Rabo about a few problems which they caused and they promised to call back. That was a lie. I am still waiting for the call. So I immediately withdrew all our money and will tell everyone who asks just how bad they are there are better online banks around.
Pretty good interest rate.
Poor customer service