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Volt Bank
AlanSouth East Queensland, QLD
- 6 reviews
Same, same....easy to put in big drama to withdraw
I sent an email requesting an increase in daily transfer to clean out my account, (after being notified of a big reduction in interest rate in 2 days time), before they opened on day 1 and then 3 phone calls with promises of a return call so no resolution..day 2 more phone calls and finally just a email saying transfer done....
$20k max daily withdrawal...beware !!
Not much use when they give you 2 days notice of reduction from 1.9% to 1.65 %
Sorry Volt but a very steep learning curve for me...
1 comment
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IMO ReviewsMetropolitan Adelaide, SA
- 5 reviews
Can’t withdraw your funds!
I have been trying to withdraw funds from my account for two days but keeps coming up with ‘Generic error’. This is the first time I have tried withdrawing. Spoke with support who were great however could not resolve the error and have had to investigate it further which will take some time so currently still can’t withdraw funds from my account. Luckily not an urgent situation to withdraw funds so can wait for them to work it out but this is a pretty big issue!! Especially during the crisis we’re experiencing, imagine if someone really needed ...Read more
access to their funds in VOLT!! It’s a pretty nasty glitch to have! In regards to some clients that are annoyed with the rate cuts, it’s happening to all banks and savings account across the board. It’s not financially viable for them being a start up to continue offering high interest rates when the RBA is doing some big rate cuts! Although there are still some savings accounts out there offering slightly more in interest rates, all the big banks have reduced their interest rates on savings accounts to far less than what we’re still receiving with Volt. FYI.1 comment
Team VoltVolt Bank
Thanks for taking the time to share your thoughts with us and for your patience while we investigate the issue you’re experiencing. We’re working hard to make platform enhancements that’ll reduce glit... Read more
ches in future, but we’re sorry to hear you’ve had a less than awesome experience with our app and appreciate it’s been frustrating. On your note on interest rates, we echo your thoughts noting that we’ve recently adjusted our rates in line with the RBA official cash rate. We know interest rate cuts can be disappointing for savers and want to reassure our customers that we’re continuously monitoring market conditions to ensure we strike the right balance between delivering value and ensuring our business runs sustainably in the long term.Similar opinion? Write a review on ieatwords.com.au!
BrettSouthwest, VIC
- 2 reviews
From hero to zero
Thought this was going to be great but went from interest on savings account of 2.15% to 1.90% to 1.65% inside a month. Gone from good interest rate to one of the worst in very short period of time.
1 comment
Team VoltVolt Bank
Hey Brett,
We know interest rate cuts are disappointing for savers, however we regularly review our rate to ensure we’re striking the right balance between delivering great value for our customers w... Read more
hilst responding to changes in the market and building our business sustainably over the long term. Our recent adjustments have been made in line with the changes to the RBA official cash rate.Similar opinion? Write a review on ieatwords.com.au!
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JghpjMelbourne
- 2 reviews
New Comer
I've recently started at Volt after being sick of the lack of return from the big 4/
All is well at this stage, the App is easy to use and the response to questions efficient and knowledgeable.
1 comment
Team VoltVolt Bank
Thanks for the glowing review. We’re looking forward to being on your savings journey with you and helping you bump up your balance with a great rate and no catches.
Cheers, Team Volt
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RichieSydney Surrounds, NSW
simple
simple to use and easy to see what's happening at a glance. looking forward to future features like apple pay and debit card functionality. Really happy with it all so far.
1 comment
Team VoltVolt Bank
Hey Richie, we’re pleased to hear it’s all going well so far. We’re working on transaction accounts and debit cards in the background at the moment and can’t wait to share more with you soon.
Cheers, Team Volt
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KeeSydney, NSW
interest rate
perhaps Volt should consider matching the interest rate of Xinja at 2.25%. Otherwise it is quite easy to manage most transactions on the apps which is user friendly and straightforward,.
1 comment
Team VoltVolt Bank
Thanks for sharing your experience of the app with us. We’ve always set our interest rate in line with our business priorities and overarching strategy. While we operate in the same industry as Xinja,... Read more
and have lots we can observe from their approach, we’re different businesses with different ways of managing our risk profile. We believe that what may work for them, may not necessarily work for us in the same manner. With this in mind, we know that interest rates will always be in flux and under review. Our approach has always been to focus on behaviour and habit first as well as making sure you actually get the advertised rate, without hurdles, catches or sneaky introductory rates. Cheers, Team VoltSimilar opinion? Write a review on ieatwords.com.au!
charlesmoss vale
- 6 reviews
Good eventually.
Opened an account one month ago. Found the setting up process somewhat complicated, the advice written online not very comprehensive. Why can't they offer joint accounts, or SMSF account?? Also how can I download a statement?
1 comment
Team VoltVolt Bank
Thanks for sharing your experience with us Charles - we’re sorry to hear you had trouble with the onboarding process. We’ve taken your feedback onboard and we’ve updated the way we invite our waitlist... Read more
to join our app. Our emails now outline the step by step process so we’d like to thank you for helping us improve the experience for others. We’ve answered your question on joint accounts and SMSFs in the questions section below and your statement will be available to you every 6 months. If you need one more immediately, our Customer Care team would be more than happy to arrange for one to be sent to you outside this cycle. You can simply get in touch with them via the Live Chat in the app or on email at [email protected].Similar opinion? Write a review on ieatwords.com.au!
Vivien WSydney, NSW
Simple and easy
I opened an account with Volt Bank about a month ago. Account opening was quick and simple. Great interest rate with no hidden tricks. Old and new customers getting the same rates. Well done!
1 comment
Team VoltVolt Bank
Thanks Vivien, it’s the way we believe banking should be done. Great to have you on board with us on the journey and welcome to Volt.
Cheers, Team Volt
Similar opinion? Write a review on ieatwords.com.au!
Great little banking App
Quick and Easy to sign up for
Been banking with Volt just over a month now
great interest rate for boosting my savings
Would be even better if I could set up a joint account.
1 comment
Team VoltVolt Bank
Thanks for sharing your feedback with us Sue. We’re excited to see your savings grow over the next few months. We’re still early on in our journey so don’t have an exact date to share with you on join... Read more
t accounts just yet, but we’ll be sure to keep you updated on our progress on our website and via email. Cheers, Team VoltSimilar opinion? Write a review on ieatwords.com.au!
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Innovation SupporterSydney, NSW
Vive la Volt!!
Volt & I have been together nearly a month...
It's great - 24x7 access, amazing customer support
and a nifty logo. That interest rate rocks too!
Give it a go! You're money will be happy!
1 comment
Team VoltVolt Bank
And what a month it’s been. Remember our first deposit together? Thanks for the great feedback, we’re glad to hear your money is as happy as you are. It only gets better from here.
Cheers, Team Volt
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readerSydney, NSW
Amazingly straightforward!
All transactions have been simple and logical, and lived up to Volt's promises. They don't just talk the talk - they deliver. for a new bank, this is a great start.
1 comment
Team VoltVolt Bank
Thanks for being part of the journey with us and for sharing your thoughts. We’re excited to have you onboard and can’t wait to share our next steps with you.
Cheers, Team Volt
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Matthew LaSydney, NSW
- Verified customer
Simples.
Intuitive. Just put a few $$ in savings with Volt to see how things go. All good so far. Waiting for my first prompt to add more in line with my savings challenge.
1 comment
Team VoltVolt Bank
Thanks for sharing your feedback with us and we’re delighted to hear you’ve taken up our saving challenge. We can’t wait to help you bump up your bank balance and see your savings grow.
Cheers, Team Volt
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Tim SSydney, NSW
- 2 reviews
Best Banking App and Experience
I have been lucky enough to be one of the first 1000 Volt Bank customers. Absolutely sensational, easy to use, fast. Can’t recommend Volt highly enough. My first experience with a fully digital bank and I want to shut all my other accounts.
1 comment
Team VoltVolt Bank
We’re delighted to have you onboard with us as one of the earliest customers of Volt. Thanks for taking the time to share your thoughts and we can’t wait to take our next steps with you.
Cheers, Team Volt
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Peter M.Sydney, NSW
- 4 reviews
A Simple, Easy To Use Product
I have been using the Volt Bank iOS app for about two months. The app is very intuitive, easy to use and very responsive. A great interface for a great product.
1 comment
Team VoltVolt Bank
Thanks for the feedback, we’re pleased to hear you’ve been enjoying your first two months with us. We’re looking forward to sharing many more milestones with you.
Cheers, Team Volt
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rononeGreater Melbourne (Inner), VIC
- 2 reviews
Great app, nice bank
I have been with the bank since day 1. They definitely seem to be reliable - I get paid my interest each month on time, no fuss. I have not needed customer service
1 comment
Team VoltVolt Bank
What a journey it’s been together. We’re looking forward to sharing more milestones with you as we evolve our product and become a different looking Volt. Thanks for your support and for the great feedback.
Cheers, Team Volt
Similar opinion? Write a review on ieatwords.com.au!
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Robert BishopSydney, NSW
User friendly App for great new product
The App is user friendly. It was easy to load. Its nice to see interest clocking up so quickly. The logo colour and font are tasteful and memorable. Good experience with Volt.
1 comment
Team VoltVolt Bank
Music to our ears. Thanks for the great feedback, we’re pleased to hear you’ve had a great experience with us and that your savings are getting a nice bump. It’s truly a win-win situation.
Cheers, Team Volt
Similar opinion? Write a review on ieatwords.com.au!
Questions & Answers
charlesasked
When can we open joint personal accounts? When can I open an account in a company name as trustee for my SMSF?
3 answers
Hi Charles, I am not an employee of Volt so i dont know the answer, but i suspect this will be many months away and possibly years away for smsf.
Thank you. It is surprising that Volt itself can't/won't answer such questions.
Team VoltVolt Bank
Hey Charles,
We’ve taken our first steps launching Volt Save in beta to our waitlist and we’re now working hard to open up our digital doors to the public. In the background, we’re working on transaction accounts and debit cards which we can’t wait for.
We’ve got big plans to offer things like joint accounts and accounts for SMSFs, however, at this stage don’t have exact dates or timings to share just yet as we’re still early in on our journey. We’ll be sharing updates as they’re ready so the best place to keep an eye out is our website and via our email newsletters.
Cheers,
Team Volt
AgSales T.asked
Is volt a secured bank from the government?
4 answers
As I understand it, it is an offence to use the word 'bank' and conduct banking business unless the entity is licensed by APRA (Australian Prudential Regulatory Authority).
Well I just want to know if it's secure to put money in there I don't want to loose it if something bad happens that's all sorry
Yes, guaranteed by Govt up to $250k
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Team VoltVolt Bank
Hey Alan, thanks for sharing your feedback with us. We’re sorry to hear that you were disappointed with your experience and have passed on your thoughts internally to the right people so that we can e... Read more
nsure we’re continuously improving our service. Cheers, Team Volt