I've only ever been with Westpac but I'm finding now that they are dropping the ball a lot which makes me not trust them anymore, examples:
What bank would you recommend switching over to overall and why?
The Commonwealth Bank should never have been privatised.
Cheers, Liberals
I appreciate your comment. It’s subtle sarcasm is great.
ING
Why?
Because:
They also give you money for withdrawing $200+ from EFTPOS. They rebate ATM fees.
I told my man all about how good ing was and he thought I was lying.
ING
Why?
Macquarie
Why?
ING
Why?
HSBC Global with the 2% cashback on taps. 86400 for savings accrual
Conditions apply: "Deposit $2,000 or more into your Everyday Global Account each month to unlock Everyday Extras".
I set up a sweep from 86400 and back.
Or you could get your pay packet in there, either way pretty standard as is with ING.
Macquarie. Great iPhone app!
From what I have read, your experience will be the same wherever you go as the issue seems to be with your understanding of what bank is offering you. For ex:
—->Charging incorrect interest when I have been within the 55 day period on the credit card.
How do you think this 55-day interest-free period works? First of all its always UPTO 55 days. If you make the spend today and your statement is generated tomorrow with extra 14 days as due date, you only get 15 total days of interest-free period as you are expected to pay by the due date.
—-> Substantially reducing the amount of interest paid back on my savings account.
It's with every such bank. The bonus interest that you get is usually only for the first few months when you start the account.
I got the same interest rate return in my savings account for more than 3 years and the funds have always been increasing (no withdrawls)
Only recently have I noticed that the monthly interest payments have now halved in value with no notification of changes.
Also I was charged several hundreds of dollars worth of "transaction fees" on a savings account which they admitted (via mail) was incorrect but at the same time continue to charge these and have not refunded an equivalent amount.
I don't think you'll find a bank with a competitive rate that hasn't reduced their rate by quite a bit. The changes to the cash rate were well publicised.
I could easily have missed that my interest rate had changed if I wasn't paying attention.
Qudos bank. Never stuffed me around. Reasonable (not fantastic) rates
Westpac has so far been good to me oh oh I see..
FWIW I am on a Westpac Choice Concession Account
I think you can get it if you have a certain card but I forget which now
ING
I would rather invest money in an ETF/Mutual fund
bankWest
they are award winners
Australian :)
I really enjoy UP, however they don't have a credit card. Savings only good for up to $50k. Their app is nice.
I do however have an ING acct for ATM and International ATM fees.
Make sure you use your ING card occasionally; they close inactive cards without warning, they are quite aggressive at cutting "dormant" cards from their portfolio.
Did not know this. Thank you!
Ubank. For the sweep functionality and the simple requirements for bonus interest.
I'm going with Bankwest.
They won best bank of the year and interest rates for savings are pretty good 1.85% p.a.
The website isn't the best and I even found some bugs on the application page which made it difficult to sign up, however the phone app has got good ratings on the app store.
I like ME bank
They've even made it so you don't need to do weekly tap anymore to get bonus interest.
I assume this means that they don't even give you any bonus interest anymore but I do enjoy seeing if I can buy 4 grapes one at a time
HSBC for 2% cashback on <$100 purchases.
ING for no international fees, great app, great customer support with a local call centre, and reasonable HISA rates.
UBank for consistently having a great HISA rate and easy to meet the bonus interest requirements.
Yet another example of the largest players in the private sector defrauding people because they face zero accountability.
The Commonwealth Bank should never have been privatised.