Bank Interest $$$ which one pays the highest interest at the moment?

harrribo on 11/02/2013 - 15:04

After discovering that my BANK OF QUEENSLAND lowered the WEB SAVER

interest rate drastically without finding the need to inform me :(

( statement letter got lost in the mail it was allegedly) and no time to call customer- ( NEWTOWN NSW BRANCH - so much for their ' promise of personal service' ad campaign )

I am looking for a more transparent financial institution that is stable and secure to take my money to

Any help and advice greatly appreciated

Unsure of the ING websaver that has been discussed here lately

Thanks

Financial

Comments

    • c64 on 11/02/2013 - 20:50
      +3

      not exactly reliable when they leave the best one (mebank) off their list.

  • wako on 11/02/2013 - 19:34
    +2

    From my searching It curently is ME bank 5.10 if u swich by end of march, And get a free transaction linked…

  • harrribo on 11/02/2013 - 20:30

    Thank you

  • whatsinthebox on 11/02/2013 - 21:00
    +3

    The Big List Of Rates: http://www.canstar.com.au/savings-accounts/compare-online-sa…

  • jo2055 on 11/02/2013 - 22:00
    +1

    ME offers best rates,but direct debit from NAB took 4 days ( NAB coud not trannsfer
    $$$$ overnight - no ME on system )… WTF ?? Looks like middle ages to me.
    Need to check how long bill payments will be ?

    • c64 on 11/02/2013 - 23:15

      from what you describe is that not an nab problem?

      everything has worked as expected for me so far (overnight transfers in/out of mebank)

  • jo2055 on 12/02/2013 - 08:26
    +2

    Thats how long - 5 days took ME Bank to do direct debit from NAB.
    And it was only one way to do it plus a lot of time spent on calls ( mostly listening
    to crap info ) making sure the money gettingin properly.
    PS Also right now internet banking is not working,so not sure apart for a good rate
    what kind of service it will be ?

  • harrribo on 12/02/2013 - 09:18

    Thanks to whatsinthebox most helpful ;)

  • andyken on 12/02/2013 - 10:17

    Ubank previously give up to 5.2% but now down to 4.66% which is still good, direct debit from NAB only took 1 day as it own by NAB

    • vanavanavana on 12/02/2013 - 11:20
      +1

      Owned by NAB but not the same banking platform as NAB. Direct debits will take the same amount of time as any other bank.

  • siraitken on 12/02/2013 - 11:41

    If you have a home loan then the best savings account is a 100% offset account attached to the home loan.

    You save non tax deductible debt @ your home loan rate (mine is 5.61%) vs earning interest at say 5% then paying tax on it.

    If you don't have a home loan then find the best rate after factoring in fees etc.

  • Dismo on 12/02/2013 - 12:47

    Looks like the ING deal for 5% interest (first 4 months) + a $50 sign up bonus is still on? http://campaigns.ingdirect.com.au/Savings-account#!/Main

  • justinp12 on 12/02/2013 - 20:37
    +3

    Choice have a list and regularly update it.

    http://betterbanking.choice.com.au/ditch-and-switch

  • harrribo on 13/02/2013 - 11:55
    +1

    Thanks to justinp12

  • psy on 13/02/2013 - 14:44

    I refuse to deal with ME. I tried to open a TD with them online, got through the entire process yet no email confirmation. A few days later I wasn't sure if my application had been submitted, so completed another. Same story.

    About a week and a bit later, I receive two SMS messages to say my TD application had been successful and that I'd receive a welcome pack in the mail.

    Almost a week later, I received a letter from them, to say they'd been unable to direct debit the TD funds from my account (USaver) and to call them. Look at their website, and they'd lowered their TD rate quite dramatically.

    End result, money was still in my USaver account. TD wasn't opened, and UBank now had the better rate.

    If they cannot communicate a reference number for my application via email/sms and send me txt messages to say applications were successful when they werent, they don't deserve my money.

    • Esper on 13/02/2013 - 18:48

      Psy, as far as I know, most banks incl ME Bank can't do a Direct Debit from an online saving account and UBank accounts count as online savings account.
      My issue with ME Bank is long waiting time when calling them up. Longer than calling Ubank or Bankwest.

      • c64 on 13/02/2013 - 19:37

        yes, you are right. none of the usaver accounts supports direct debits

  • mickeyk on 26/02/2013 - 14:47

    It looks like UBank raised their rates to 4.91% on their savings acccount

  • snappy1234 on 01/03/2013 - 17:24

    and RAMS has just topped UBANK (rate @ 4.92 % effective 6/3/2013)

    • tomsco on 02/03/2013 - 12:06

      Isn't the rams deal a lot more restrictive?

      • snappy1234 on 02/03/2013 - 12:20

        yep more a place to park cash you don't need for a full month….so more like a term deposit :)

  • gimme on 14/03/2013 - 23:23

    RAMS is upping to 5.01 in a couple of days.

  • mickeyk on 07/05/2013 - 12:46
    +1

    Ubank is now down to 4.66% again

    • mickeyk on 07/05/2013 - 19:22

      And that was before today's RBA cut

      • leiiv on 09/05/2013 - 23:27

        Should we expect more cuts from Ubank?

  • Hunter80 on 20/05/2013 - 21:15

    RAMS is currently paying 5.01%. Great rate if you treat it like a TD I.e. no withdrawals.

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