financial institutions ? who is best

[flexytj]

i am sick of being ripped by banks what one is the best ?

[bigredtj]

they are all the same, bankwest seems pretty good as you can go totally fee free other than defaults etc. NABs abolished all its overdrawn fees which is handy if you have a few accts and just forget to transfer cas from one to the other but still get foreign atm fees.

[Richo]

Bendigo community bank is good for cheap fee free accounts.

But all banks, like politicians, are bastards.

[BennyWA]

none! But maybe my in laws... :)

[Ben73]

The greater is shit.
I was saving money in my normal account so I could get a loan. They knocked me back for a loan because I didn't have a savings account, just thousands and thousands of bucks in my normal back account which is not good enough! Must have a savings account.

[jeepgirl]

We are with MECU after swapping from commonwealth. Never had a problem with them. Have great rates that big banks couldn't come close too, great customer service and we received some free grog for christmas from them. ;-) Plus we are on speaking terms with the bank manager in brisbane and never had a problem with them, even though we are in Nth Qld.
Pays to look around & do some research. We saved shitloads.

[Simsy85]

I'm with the NAB... hate it.

[ZJ from WA]

I have the house with bankwest bloody great rates and seem to be much more competitive then CBA despite being owned by them. i dont get it but what ever.
my card and securites are done by commsec great internet based banking much easier then bankwest

[kitrino_tj]

banks are all junk

[MelbourneOnroad]

From my observation, NAB is the only decent bank..
They are very customer focused now and are willing to help where necessary:
- NAB Care - gives you 3 to 12 months off making repayments on your home loan when times are tough
- No fees
- Only raised interest rates to the same level as the RBA (feel sorry for Westpac customers)

Their variable rate home loan is cheaper than the other Big 4 and they have just joined up with RediATM which is another win as you avoid more fees!! Yay.

CBA is shite cos theyre so big, theyre all about money now... offering you lower interest rates on term deposits and their fees are bloody ridiculous...

Next is Westpac, after their acquisition of St George, theyre just another non customer focused money sucking institution.

Yep ive been doing my research lately, cos im sick of being charged to put my money somewhere and want it to grow exponentially....

My hot tip (seems like im being paid by NAB so far ha) check out ubank.com.au (won heaps of awards last year from Money Magazine) - beats ING by a mile and ive got quite a bit of money with them now in high interest savings. Earning 6.8% in my term deposit and 5.56% in a normal savings - WITH NO FEES!! :D

At the end of the day, most people stay with the bank their parents setup for them as a kid... And every bank will tell you theyre better than everyone else, just make sure you shop around to get the best options for your self....
Anyway, just my 2cents ;)

(If you need any further financial advice, feel free to ask)

[greenjk]

All Banks are as bad as each other they only look after number 1.
I worked for one of the major banks for 16 years and I currently work with a Mortgage Broker whom I have been with for the last 7 years and deal with over 30 different banks.
Most of the banks have people from overseas taking their calls for them, so be careful of the information you are being given as they are only reading a script.
If it's a Home Loan you are after you are better off talking to a decent Mortgage Broker (not one who is after making the most comission) they will come to you, they do all the research of the best rates and products for your needs

Wife of greenjk
Loans Assistant for TJ White's Finance Services

[bigredtj]

Mortgage brokers just do the research any monkey can do for themselves, they get paid and dont do it to be nice you can always 100% get a better deal on your own - Yes i was a bank manager for 5 years - yes ive worked for a broker - yes i have escaped the industry as it blows goats.

[kitrino_tj]

Mortgage brokers just do the research any monkey can do for themselves, they get paid and dont do it to be nice you can always 100% get a better deal on your own - Yes i was a bank manager for 5 years - yes ive worked for a broker - yes i have escaped the industry as it blows goats.

gotta agree with you there aza

[kitrino_tj]

the other banks seem to be in front

[BennyWA]

If you wanna pay your home off fast try Crown Lending... 7-14 years

[Matty ducati]

Interesting thread, westpac for me as its the only bank for 900k's

[Crashman]

Westpac for me have been with them for years they are great. Had endless issues with CW!

[Wooders]

Spent 20 years working the the finance sector - many of those for CBA & WBC.
Have also banked with ANZ & Nab.......They all SUCK.
Saying one is better than the other is like saying "I prefer to be kicked in the left testicale, than the right".
IMHO credit unions are probably the best option for most things - but still beaurcrunts.

[bigredtj]

No bank is going to be the best for everyone, decide what you want educate yourself and choose.

[ace]

They are all greedy, profiteering scum but CUA are probably the best.

No account keeping fees (unlimited Visa debit + internet transactions, limited withdrawals)

Very good savings rate (6.3% for 4 months then 4.9%) interest calculated daily so u can withdraw any time.

One of the cheapest car loans - 8%

Credit card has 4.9% balance transfer for 2 years - excellent if you have any debt at all.

Good ATM network: rediteller and NAB are free

I just switched everything to them today and it took us no more than 10 minutes from when we walked in the door to walk out with our accounts already active and phone and internet banking passswords in our hand.

[hillsjeep]

I've been very happy with Members Equity, but I think you have to be in an industry super fund to join, or at least you used to. Profits go back into the industry super funds and they seem to alway be near the top of the Cannex list! ;)