Trying to switch banks to Bankwest - Advice?

Lrini868 on 03/06/2016 - 23:29

Today I went into a Bankwest branch with the intention of switching all my accounts across (transaction, savings, credit cards). I looked into the process of switching banks as I have always been with my old bank and concluded that it would be relatively painless because of the banking reforms from 2012 (https://www.moneysmart.gov.au/managing-your-money/banking/sw…).

However, when I went into the branch to discuss it with one of the consultants there, she had never heard anything about this fuss free way of switching banks and all that Bankwest could offer by way of help is a list of all the most common companies I could possibly have a direct debit with and a letter template that I can send to them asking to switch my debits across to the new account; which I honestly find completely useless. After I showed her the moneysmart website she went to speak to her manager and he said they don't do that sort of thing. I was under the impression that all banks should help with the moving process as outlined in the link?

Has anyone tried switching to Bankwest? What was your experience? Is there an easier way to switch direct credits/debits other than calling each of the companies one by one and changing my details?

A bit of context; I've recently grown unhappy with my current bank and they way it's handled some issues I've brought up to them. Also, I work away a great deal of the year so I'd prefer not to spend all the little time I have at home working on switching banks.

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Comments

  • [Deactivated] on 04/06/2016 - 00:05
    +1

    Trying to switch banks to Bankwest - Advice?

    Ummmm… Don't?

  • RockyRaccoon on 04/06/2016 - 04:44
    -1

    he said they don't do that sort of thing

    Hmm then why do you persist?.

    The sign says … bugger the sign …ahhhhhh

    Look elsewhere sweetheart. Bankwest is just a junior elephant.

    • rini868 on 04/06/2016 - 19:44

      I didn't persist, I'm asking for advice and others experience. Thanks for the condescending tone. Much appreciated.

      • RockyRaccoon on 05/06/2016 - 00:01

        I didn't think I was being condescending - well, at least to you.

        It was to say that Bankwest already has shown you how much they care about your business. Sometimes by putting it a little bluntly it gets the meassge across, which is what I was trying to do.

        Sorry if that offended as it wasnt meant to.

        BTW I use Bankwest as my main bank, and if I found a better alternative for me I would, but I have no illusion about their capability, and it has degraded since CBA took them over

        • rini868 on 05/06/2016 - 20:22
          +1

          Sorry if I misunderstood what you were trying to say but the message wasn't clear. Thanks for clarifying.

  • The tiger on 04/06/2016 - 09:14

    Don't . I had a credit card with them sometimes ago at the Knox shopping centre, Victoria . Very inconvenience due to their lack of other branches and Australia Post is out ( it used to once). Their customer service including the manager and their online help call centre are lousy and inefficient comparing with other fin. inst. I had indeed a very bad experience with them that some one took my money without my permission and I was helpless by them. Very happy after leaving them. Why not move to NAB.

    • rini868 on 04/06/2016 - 19:40

      I'm not too worried about Bankwest branches here in WA but I have heard about the poor customer service.

  • moojar on 04/06/2016 - 12:18

    Bankwest are a subsidiary of Westpac aren't they? Sounds like out of the frying pan…

    I empathise though - I have spent the last year and a bit switching from one of the big four - home loan, investment loan, credit cards, all accounts. I had not heard of this government 'fuss free' thing though, and neither my new bank nor non-bank lender mentioned it. But after all the hassle it is so sweet to be able to have a good chuckle when my old bank does something arrogant, rather than me seeing red as I used to do.

    I identified what direct debits I could and had them switched - the companies I dealt with have fairly painless ways to do this, even Medicare. And the rest I identified over time by running dual accounts. It took over a year all told, most of it on the refinancing side, but I closed my last big four account in the last week or so.

    I switched banking to HSBC btw, but not my loans. HSBC have some very sweet loan rates, but my first ever mortgage 20-some years ago was with another foreign bank, and as their rates were not tied in with the Reserve Bank official cash rate I wasn't enjoying the falls others were getting in the late 90s - I think most loan rates went from double-digits to under 8% over that period. So anyway, decided to steer clear of foreign banks' loans this time around.

    (Back then I subsequently refinanced with an offshoot of one of the big four, which was of course "merged" with the main bank a few years later - and the lovely friendly helpful people I had been dealing with were laid off. My first thoughts re your BankWest switch were along these lines.)

    • HardQuiz on 04/06/2016 - 13:11
      +2

      I think CBA not Westpac

    • Free Parking on 04/06/2016 - 15:41

      Bankwest are CBA

    • rini868 on 04/06/2016 - 22:23

      Thanks for taking the time to answer. I'll have a look at HSBC.

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