Bankwest has just increased their interest paid on Easy Saver deposits by 0.25%. New rates are as follows:
Great rates to help your savings work harder for you.
The Easy Saver variable introductory rate only applies to new accounts. Not available if you’ve previously held an Easy Saver account with an introductory rate that expired within the last 2 years.
Yeah For a moment I was like daaaamm.
Are you telling me people won't read the fine print when anything involves with their money? Well, it's time to wake up and learn.
The point being, it doesn't follow OzBargain title posting guidelines by not mentioning it is an intro rate only.
You are assuming OzBargainers can or would read fine print
My bad.lol
I'm a bit behind on managing my savings accounts since I've always just put stuff into offsets, so I'm unfamiliar with the savings offerings.
I thought 5% ongoing seems pretty good, is that not the case? What is considered good currently?
Thanks mate, super helpful. Looks like I'm going for AMP GO. Set and forget.
Rabo paying 5.9% intro rate for first 4 months on thier High interest savings account
But then it drops to just 4% after4 months
However then you can switch to thier premium savings account which pays 5.4% ongoing.
So far better off with Rabo!
It's a misleading title, to be honest! It's like the fine print in any Sales…….
They must work for Coles … down down
Misleading title!
Bankwest should be avoided. CBA closed all branches and bank is online only! Read about the history of the bank.
So what?
It took me several months to get my money out of BankWest as I couldn't get through to anyone who would assist. I only got my money when AFCA intervened.
Check out how bad the BankWest reviews are now on Product Review
https://www.productreview.com.au/listings/bankwest?sortBy=ne…
There’s not a single organisation that has good reviews on Product Review. You’d never bother posting something if you had a good experience.
bank is online only
So am I. I don't care.
ING has always been that way, and I've had a mortgage and savings account with them for years without ever feeling like I need to go into a branch and speak to them to resolve any issue.
Haven't used a branch in 15 years, not too worried…
https://www.finder.com.au/savings-accounts
Rabo & ING are higher.
Most importantly what are the catches to get the bonus interest rate?
There are none. You don’t have to do anything, but it expires after 4 months. Much better than ING and it supports Osko unlike Rabo.
Too many hoops with those you listed.
Can't have had an Easy Saver in the last 2 years. That's a long exclusion period. They don't want their previous customers returning too soon!
Anyone heard from Judo?
moved from rabo to judo, now rabo is better haha
No, it's feeling like they're not going to raise rates this round :(
Judo is good. I have a term deposit with them.
Just confirming…Bankwest require you to upload a selfie yeah??
Does it matter what you send in? I got turfed from Facebook (for uploading a link to GitHub to fix Dyson batteries). Had to upload a selfie.
Sent in a random pick of David McPhail giving a wtf face (seemed the right guy for the situation), and they accepted and re instated my account.
So… do I send in say… emperor palatine to Bankwest
Okee dokes .might go with this over Ubank. Fair to say Bankwest will be an easier experience than Ubank / ING?
My Rabo time is just about up
@tenpercent
Well scrap that… iNG still have me on file even though I called up and asked to for all records of me to be deleted…
So not eligible..
Guess that's an AFCA thing? Surely I have the rights to protect my identity?
ING or Bankwest?
I don't think ING even has an introductory rate. I thought their rate was 5.5% ongoing with hoops.
@tenpercent: ING's Savings Maximiser is 5.5% with hoops, however their Savings Accelerator product has an intro rate of 5.85% for 4 months no hoops. More details: https://www.ing.com.au/savings/savings-accelerator.html
You don't need to do the selfie.
Are you sure of this?
They don't let you know about the required selfie until the end of the application, once you have already given them all your details and IDs. The application will not finalise without it.
I have not tested it but this page suggests you don't.
https://www.bankwest.com.au/support/account-management/ident…
I'd suggest contacting them.
Yes. You need the selfie.
Is that what they told you? That conflicts with their own website.
@tenpercent: Pity because they have a good honeymoon rate.
Happy for someone to confirm if they have changed the selfie requirement recently.
@blurn: Do we have a list of banks that don't try to snaffle private information and remember who's money it is?
@tenpercent: Who checks the selfie? What is the purpose?
My Facebook page got frozen and I had to submit a selfie. Sent a random picture from the net. They accepted it.
Guess you just do that.
*Edit - can you earn interest on more than 1 account to overcome the $250k limit?
It makes sense to limit accounts to $250k anyway for protection…I think??
Thanks OP, taking advantage of it until I swap to another bank (non-online only).
Great rate, not available to trusts :(
I opened one of their Easy Saver accounts late last year, so came off the 4 month intro rate. I withdrew all my funds, but to my surprise a few weeks later, I got an email saying they were giving me the special rate for a while longer, so now on the 5.75% rate until 30th July 26.
Not sure if that's a thing they are doing consistently, but thought I would mention it.
Many existing customers got the bonus rate again until end July.
any more other bank updates to come?
Is this safe?
They’re a subsidiary of CBA
Selfie is required, opened an account couple of weeks ago.
who even uses saving accounts when u have Trump pumping the markets to ATH every week. lol
Be very careful.
It took me several months to get my money out of BankWest as I couldn't get through to anyone who would assist. I only got my money when AFCA intervened.
Check out how bad the BankWest reviews are now on Product Review
https://www.productreview.com.au/listings/bankwest?sortBy=ne…
If someone had a saver account in past but closed now, would they be considered a new customer if open a saver account again?
2 year exclusion period for the intro rate
Thanks!
Just received a targeted email offer allowing me to receive the 5.75% interest from May 24 - September 1 despite already having an Easy Saver account with Bankwest for a couple of years
You really should put that it's an intro rate in the headline. The ongoing rate is fairly mediocre by comparison to a lot of other standard rates.