MyRAMS online-banking SUX. (ING Direct remains my Fav)

IVI on 06/08/2015 - 01:37
Last edited 06/08/2015 - 10:23 by 1 other user

We've previously blasted MyRAMS silly business decision to
DENY its customers the month's "Bonus" interest, if they use
any of their money, in the same account, even after they
have made the MANDATORY $200 / month deposit to get Bonus
Interest.

ING may require a higher deposit to get Bonus Interest,
but one can use their money - in the same account - and
STILL get keep the bunus interest.

MyRAMS is UNCOMPETITIVE, IMO.

Got an email from MyRAMS, inviting me to try their new app,
which now uses Fingerprint login on compatible iOS hardware.

(Although we don't have that costly hardware,
they also offered an Android version of MyRAMS,
so, I gave it a go. With user ratings of 4.9,
I was expecting something like or maybe even
Better then ING Direct's app, which is Fine.)

App MyRAMS did NOT please. Here's why:

1. Interest paid is reported in an INCONSISTENT &
   . MISLEADING way:

1a. Inconsistent for app users:

"-date- Normal Interest $ nnn.nn
NoDate Includes Bonus Interest $ nn.nn"

IMO, 2 interest transactions should be
shown: Normal & Bonus.

On call centre folks' screens these are
given that way. The app seems to give
the impression that you're getting MORE
Interest that you actually receive.

1b. When you list all transactions, over a
period, the order you see is different
from what the CA!l centre folks see.

(How do these differences contribute
to easy comms with Call Centre folks?

They DON'T!!!)

Compare ING Direct's login to MyRAMS'…

ING's all remembers your Chat.ID (Username),
So, you get in with a 4-digit PIN #.

MyARAMS app gives you NO CHOICE but
to Enter:
BOTH your Lengthy CustomerID
AND an 8-character password(!)

If they don't provide an Option
like ING's, many will write-down
their MyRAMS login details!

Even their Phone System SUX, IMO:

We were called away just before
being asked 2 "How did it go today?"
Questions.

If you're not there to answer (or
hangup), it just cycles through the
Sequence, asking you to answer do so.

Although it seems to work out that
you haven't replied, saying:

"Sorry, I can't help you… Goodbye"
IT NEVER HANGS UP, running your
phone's battery down, all day(!).

Even the MyRAMS logo is dim, IMO:

It's a Fat Ram, with head hair like
one wearing a judge's wig!

Who finds a Fat Ram allealing?!?

Oh, the app won't let you Rotate Screen,
so you can see all columns of its
Transaction listing!!!

All I can say is: Lift your game, MyRAMS!!!

Related Stores

RAMS Home Loan

• 

  UncommonName on 06/08/2015 - 05:25

  +12

  My head hurts after reading this…

  • 

    [Deactivated] on 06/08/2015 - 07:49

    +3

    I had an aneurysm by the third line. Doctor recommended I stopped reading this dribble.

  • 

    Baysew on 06/08/2015 - 11:34

    After 3 attempts of trying to read the post, I think this is the message.

    • ING better than RAMS.

    Something to do with

    and STILL get keep the bunus interest.

    Always have to look under the "bonut' with these deals.

• 

  NoClue on 06/08/2015 - 09:20

  IVI question for you since I'm in a similar position with rams in withdrawing and losing bonus for the month. I don't have an ING but have looked in the past. What's this account you are talking about? Is it the one that you need that orange account and deposit 1K pm to get 3.5% or the savings accelerator at 2.75%.

  The max I can get with a bank other than RAMs is 3.1 without penalties.

  • 

    IVI on 09/08/2015 - 11:37

    ING Direct's "Savings Maximizer" give interest (but Visa debit card linke "Orange Everyday" accounts do NOT), & Bonus interest, ie, if you (someone else) Deposit(s) $1,000 each month.

    You DON'T lose any the Bonus interest for transferring $$ out, first,
    to an Everyday acc't, then to anyone, eg, via Wave & Save (get 2% back) or withdraw cash - for a tiny $0.50 Bonus: in chunks of $200.

    Now's likley a good time to open an ING a/c: You & another get $75.

    I hopw that offer hasn't ended… It's as good as its ever been.

    (Long ago, we got $60 -per- Visa debit card, for getting each of2 cards & using the card in 3 different ways, before a deadline.
    Being paid to Learn…)

    Just don't ask for Acc't Balances at a Bank Machine. That can cost.

    But - overspending a debit card DOESN'T (within limits); I just got an eMail, giving me ~3 days to transfer $$ into the overdrawn debit card linked account.

    Can't do better than ING, last time I checked…

    They can AFFORD to pay (& not charge fees),since they have NO BRANCHES in most states+territories, last time I checked.

    PS It's a VERY efficient Bank.

    I consider it a bit like Uber or AirBnB… efficient & happy to SAVE ITS CUSTOMERS $$$.

    Aussie Banks have LOTS to learn from ING DIrect.

    PPS I don't see much growth from my (separate) ING Super account, so I don't recommend it.

    YMMV.

• 

  try2bhelpful on 06/08/2015 - 09:22

  I agree, you might have wanted to do a bit of editing before you submitted this.

  Have you investigated the UBANK option instead? It is backed by NAB, pays what passes for reasonable interest now days and you can withdraw money whenever you like. To get the bonus interest you only need to setup the associated transaction account.

  I have both accounts, but my preference is the UBANK account.

• 

  snappy1234 on 06/08/2015 - 10:12

  I am no fan of Rams.

  Treat it as a term deposit that you add $200 a month to.

  Simples

• 

  DeafMutePretender on 06/08/2015 - 23:21

  Is the 3.6% savings interest an introductory rate or does it remain the same indefinitely (until they change it)?

  • 

    IVI on 09/08/2015 - 11:39

    Lower now, post RBA rate drop. But whatever they pay is (AFAIK) paid as long as you deposit $200 / month & don't use your money in same account. (Odd, eh?)

• 

  DeafMutePretender on 06/08/2015 - 23:21

  +1

  BTW OP, are you a poet?

  • 

    IVI on 09/08/2015 - 11:41

    IF…

    • I'm a Poet
    • I don't Know it.

    But I'd be happy to learn the art of Poetry, publish poems via "Amazon KDP" & enjoy the trickle of income it may generate. ;-)

    PS I am an Author.

  • 

    Ughhh on 09/08/2015 - 12:39

    I think you can actually turn the post into lyrics for a song, just need some bad auto tune.

• 

  cpho on 09/08/2015 - 13:27

  If you don't like it, then why are you still using them?

  • 

    IVI on 09/08/2015 - 14:41

    Some of us like to let others know, &
    - by complaining - try to improve 'em

    This may seem a foreign idea…
    like Green Nuclear Energy.

    But… well, the French have had nukes
    for yonks… Done right, it's safe, not odd. ;-)