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ME Bank Everyday Transaction Account ATM Fees Refunded (No Min. Deposit)

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ME Bank Everyday Transaction Account ATM Fees Refunded (No Min. Deposit)
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hymio on 14/10/2016 - 17:04 mebank.com.au (185 clicks)

Me Bank's (mostly fee-free) transaction account now comes with a "buck" Debit Mastercard that can be used fee-free at certain ATMs plus ATM fees refunded at all (other) ATMs in Australia. Now that ING no longer have the 2% paywave cash back, this seems like a better option as there's no need to deposit/move around $1000 each month to use get free ATM usage.

(Cons: Online banking site and mobile app are pretty bad. Fees refunded within 30 days.)

Our Everyday Transaction Account has everything you need in a bank account – use of any bank’s ATM anywhere in Australia, convenient and flexible access to your cash with a new buck Debit MasterCard - and nothing that you don’t (like account keeping fees).

With buck you can get everything you need in a transaction account from the bank that pays your ATM fees. Any bank, any ATM, anywhere in Australia.^

^Free access at any ME ATMs and our preferred ATM network of Westpac, St.George, BankSA and Bank of Melbourne ATMs. Open your new Everyday Transaction Account & receive a refund on fees incurred at all other ATMs in Australia within 30 days of the transaction. We may change or withdraw this offer at any time.

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$150 Coles Group & Myer Gift Card for both referree and referrer when loans are settled.

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closed Comments

  • fattyboombatty on 14/10/2016 - 17:06
    +2

    Has ME Bank changed their online banking system so that is now shows pending transactions? They have not had that in the past and it gave me the shits enough to move to a different bank (ING) that itemises pending transactions

  • edrift on 14/10/2016 - 17:15
    +1

    Better off going with the Macquarie Bank deal as they give you fee free access to any Australian ATM, pay you $50 sign up bonus and pay you up to $100/year for withdrawing money from a shop (I.e. cash out) instead of an ATM.

    • spendinghacker on 14/10/2016 - 17:22
      -1

      they give you fee free access to any Australian ATM

      Do you have reference to that (with regards to the Macquarie product)?

      • cpho on 14/10/2016 - 17:45
        +4

        Whats with the need to bold random words?
        You couldve better spent your time just googling it
        http://www.macquarie.com/au/personal/bank-accounts/transacti…

        • spendinghacker on 14/10/2016 - 19:21
          +1

          Trust me mate that I did plenty of Googling and more…..researching this stuff is kind of my thing…;)

          While the page you linked to does say "Free access to any ATM in Australia.", it's not clear whether it's free because:

          1. Macquarie doesn't charge you a foreign ATM fee; or

          2. They actually rebate the ATM operator fee like how ING does (subject to meeting minimum monthly deposit requirements) or ME Bank (unconditional).

          Here is what they say on their fees & charges page:

          Non-rediATM withdrawal/ balance enquiry:

          The ATM operator may charge you a fee, shown on screen before you complete the transaction.
          From time-to-time, we may offer special promotions in connection with ATM fees - check macquarie.com.au for details of any current offers.

          I am just not sure that when they say that their platinum transaction account offers "Free access to any ATM in Australia.", they mean that a "special promotion" has indeed been applied and if so, is that a standard and ongoing feature or they are going to pull a 'bait & switch' later on.

          Macquarie Bank is not known as the "Millionaires Factory" for nothing mate. They know how to make money better than anyone else (including any of the big 4 banks). ;)

      • edrift on 14/10/2016 - 19:42
        +1

        Yes.

        I bank with them and they rebate the fees charged instantly.

        E.g. today I withdrew from Westpac and the atm said it'd cost me a $2 fee.

        I checked my account and the refund for the fee had already been done

        • spendinghacker on 14/10/2016 - 21:41

          Sweet. Thanks for that.

          So basically Instant rebate like ING without the need to meet minimum monthly deposit requirements?

          If so, they might become our new recommended account, especially given both their Internet banking interface and mobile app are better than what ME Bank offers by an order of magnitude.

          I just need to make sure that this instant rebate is a permanent feature and not some "special promotion"

        • Sick of This on 15/10/2016 - 00:41

          @ginmi: Well it was a permanent feature for ING years ago, but that didn't stop them from mucking with it by putting that minimum deposit condition on it.

    • Tiggrrrrr on 14/10/2016 - 20:51

      For the $100/yr you need to be getting $400 a week cash out in a retail store (in 4 separate transactions). (ie 50c back for the first 200 transactions over $100)
      Seems a bit unlikely.

    • Stahh on 18/11/2016 - 19:37

      Can't seem to find out how to get the $50 sign up bonus? Thinking of switching from ING to Mac.

  • sween64 on 14/10/2016 - 17:17
    +2

    It's been this way for at least the last year.

  • railspider on 14/10/2016 - 17:21
    +3

    Bring back 2% cashback ING!!!!!

    • spendinghacker on 14/10/2016 - 17:25

      Not gonna happen I reckon.

      Once they removed it, it is highly unlikely they will bring it back as an ongoing thing.

      If you desperately want 2% cashback on PayWave, this is the ONLY product in Australia still offering it but their fees are ridiculous. They can be avoided but you'll have to be very diligent in how you use the account

      http://www.australianmilitarybank.com.au/everyday-accounts/m…

      • the cheeky dropbear on 14/10/2016 - 17:46
        +1

        There's also a daily limit of $500 on VISA paywave purchases

      • dynamike on 14/10/2016 - 17:54
        +2

        It is coming back. Completed a product survey on a new ING credit card which would incorporate this feature but with some major caveats like a limit how much you could save.

        • railspider on 14/10/2016 - 18:33
          +1

          I did a similar survey, and they gave the impression it'd be a credit card with an annual fee. Which IMO defeats the point of the cashback!

          Still, it will be better than nothing. My ING account has been dormant since October 1st.

  • Jugg.Judy on 14/10/2016 - 18:39
    +1

    mebank customer service is shit.

    • Tal_Shiar on 14/10/2016 - 18:44
      +3

      To give shit service, you'd actually have service to begin with

    • cozmo on 14/10/2016 - 19:42
      +1

      I can say in my experience with them they are fine if you have problems during business hours… its just they don't have any after hours support and they have had a few outages on the weekend during the last year leaving me stuck at the shops unable to pay for groceries…. not even a recorded phone message of the problem.

      • Jugg.Judy on 15/10/2016 - 22:15

        it's nothing to do the after hour, for me, their back office support is kind of a joke, I was try to withdraw to non-mebank account, one say fill this form, the next person say fill that form, they don't even know what they are doing, if they just start working there, okay, I understand, but at least read the previous correspondence and find out what the problem is! it's not that hard, it's my first account with them and it's going to be the last.

    • edrift on 14/10/2016 - 19:44
      +1

      I agree.

      The totally stuffed me around and my money disappeared into one of their closed accounts by accident despite them telling me it hadn't. Took about 2 weeks to get my money back from ME bank

  • tdw on 15/10/2016 - 16:35
    +1

    meh, i quite like the mebank website and app. minimalist and fast. unlike the new ing direct site

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