I opened a me bank saver account, and also a debit card account.
Did the stupid pay wave transactions in March and got paid the 3.6 percent.
I just noticed on my statement it now says zero percent bonus interest rate effective for April.
I don't understand this? Have they just changed this out of the blue? can they do this? It still says on their web site it exists, why have they applied this to me?
Why are banks so fricken difficult.
I pulled all my money out of MEBank when they created their convoluted conditions. After going over a savings account max limit once, I lost all interest for 2 full months whilst I re-met the conditions. So daft.
Call and ask for an explanation - you might get lucky.
More likely get a Filipino reading from a template, with no idea
Can't comment on the interest but mebank customer service is terrible. The app and website login are both outdated and not user friendly compared to ING.
Better to take out your money and open an ING account. I keep my mebank account open for avoid tigerair ticket surcharges.
I have read all the t&cs, Ing is awesome, just has a limit that's all
Don't get why me banks has prime time ads when their cust service, is terrible. I'll be moving it all out to Rams again. Poor rate but least u get it. Me bank needs the capital to lend out so just shooting themselves in the foot
BONUS
What were the most number of days between paywave transactions? You can't exceed 7 day between paywave transactions AFAIk.
Store RepMEBankScott on 03/02/2016 - 11:58
@squeeb: Hi squeeb, ME defines a week as 7 days. Eligible accounts receive bonus interest if, within the calendar month, 7 days does not pass without using tap & go. Thanks, Scott
This is for the current month, not the one past.
Ie I did all the right things for March and earned the interest.
But now it says all I can earn is 0 percent bonus for April.
What the store rep has said too you, does not match what their t and c s say, at all
FYI, I made pay waves on these dates for March
1st
4th
9th
13th
14th
17th
19th
22nd
27th
29th
The bonus was paid for this month, the problem is they have just changed the bonus to 0 percent, like they can selectively do this to certain people.
https://www.ozbargain.com.au/node/232751
The bonus rate won't show up on internet banking until the last few days of the month; and it'll only show up then if you've actually qualified for the rate.
Yeh I read this too, but there is a very suspicious line in my statement
Thu 24th March variable bonus interest rate 0.00 percent effective 1st APRIL
It is telling me even if I satisfy the stupid payWave setup, my bonus is 0.00 anyway.
Bonus rate is 0% because you haven't yet qualified for the bonus this month.
The previous month didn't do it this way, and that is not how it reads, it's telling the interest rate is now effective.
I hope your write, but the wording is bad if it is the case. The line is unnecessary. It's redundant if this is the case .
I think they have f'd up, or just changed it on me, cos I have too much money in it.
I will be draining the account day by dat to get rid of it
@unclesnake:
You should see another narrative transaction on 24th March stating bonus rate 1.8% effective 1st March. So, near the end of this month, there should be a narrative transaction stating bonus rate 1.8% effective 1st April.
Give them a call if you are still concern.
@unclesnake: Even if you have over the limit, you will still get bonus up to the limit. According to their wording:
Bonus interest is only payable on balances up to $250,000 on the first OSA you open
[@MEBankScott:]
ME bank have now posted a message on the web that there is a problem with these payments. There is also a message when you phone them, lets hope it is resolved soon.
Are there conditions for the interest? Is the rate variable? I suggest you go and read the terms and conditions first and then contact them if you're still unsure.