Hi all,
I apologise for creating another thread, but I have very few friends so I don't have anyone else to ask.
Since OzBargain has many financial experts I thought this community would be the best place to ask.
How does this bank compare to others? Link: http://bankvic.com.au/
I know nothing about banks so I'd appreciate any help.
Thank you for any advice!
Hmm, not sure why I was negged.
The question was aimed eliciting a response in regards to the requirements of the bank eg, home loan and rates, off set accounts or in regards to banking fees or better than other banks % rates.
I.e. what is so serious about needing information about this bank
Having been a bank vic member at one point, I think you need a family member to be a bank vic member, or you have to work in a certain field to be eligible to join bank vic, might have changed, anyone know?
Yeah I thought so too. You have to be a public servant or a member of the police force to join I think. My husband works for Justice Victoria and he was given an account automatically, but we never use that account at all because it really gives us no benefit and they're not really competitive in terms of rates. According to the website, you have to be any of the following to join.
http://bankvic.com.au/bank-with-us/how-to-bank-with-us/how-t…
This is correct!
I'm already a member so I just wanted to know how BankVic compares to other banks?
ThePensioner is at it again!
I thought that since membership with BankVic is so restrictive there would be many benefits compared to other banks…?
I agree with the comments above. Looks like very restrictive membership and I hope the rewards are also exclusive :-) Just had a quick look on the rates for investment loans is 5.23% and the interest rates on saving deposit is 2.4%. Not sure if these rates means exclusive benefits :-) unless someone can detail out the benefits.
What would non serious help be?
It's the old police credit union - I have a dormant account somewhere, didn't offer much for me
Right. It used to be called "Police Credit".
I'm still trying to find out the biggest benefits?
The savings interest rate is 1.73%.
How does this compare to other banks?
I just checked and it says this:
You can enjoy the following benefits:
no minimum balance or deposit
no account keeping, management or annual fees
funds accessed through online or mobile banking and Rapid Response telephone banking
unlimited deposits and withdrawals
interest calculated daily and paid monthly
apply online via internet banking
allows for direct credits and debits to and from the account
unlimited free PayAnyone – Mobile Email feature on mobile banking to send funds by providing the recipient’s mobile phone number or email address.
Any advice would be great!
what do you need from the bank?