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ME Bank

Discussion in 'Other Asset Classes' started by wogitalia, 19th Jan, 2016.

  1. wogitalia

    wogitalia Well-Known Member

    Joined:
    28th Oct, 2015
    Posts:
    871
    Location:
    Perth
    Was just looking over available interest rates for savings accounts and noticed that ME Bank currently have the most competitive rate and that it doesn't even require anything special to get the rate.

    Basically just wondering if anyone has used their banking products before and if so how they found them? Currently they're paying a rate that's 1% higher than ANZ is offering which in the current savings environment is "significant".
     
  2. miximitosis

    miximitosis Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    52
    Location:
    Townsville
    You have to make a weekly purchase via tap and go with the linked transaction account card to receive the full 3.55%.

    I prefer ING savings maximiser (3.5% inc bonus interest) with the transaction account that gives you 2% back on all paywave purchases under $100.

    EDIT: You do have to deposit $1000/month into the transaction account to receive the bonus interest with ING and it's only up to balances of $100,000 vs $250,000 for the ME Bank account.
     
  3. wogitalia

    wogitalia Well-Known Member

    Joined:
    28th Oct, 2015
    Posts:
    871
    Location:
    Perth
    Yeah had a look at both, neither of the requirements are the slightest issue for me but the 100k limit on the ING account is a bit of a bummer, at least in the immediate future.

    Hadn't seen the 2% cashback on the ING, I pay for just about everything on paywave so that's actually a pretty damn decent addition.

    ANZ has dropped their rates on the progress saver by half a percent in the last few months while ME and ING have both bumped by similar from when I last looked so it's starting make sense to change banks given ANZ don't exactly give me anything for being with them :(

    Have you used ING? How'd you find their internet banking facilities (I've used all the big banks pretty much, ANZ is by far my favourite for internet banking, do not like CBA or Westpac, NAB was indifference).

    Thanks for the reply by the way!
     
  4. miximitosis

    miximitosis Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
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    Location:
    Townsville
    Yea, I use ING for my savings and will be eventually using them for my transactions as well. Their online banking isn't the greatest but I don't mind the app.

    By the way, ATM withdrawls from any bank are free in Australia if you deposit the $1,000 a month. :)
     
  5. wogitalia

    wogitalia Well-Known Member

    Joined:
    28th Oct, 2015
    Posts:
    871
    Location:
    Perth
    Will probably be making a change at the end of February I reckon so will see what happens between now and then! Maybe I get lucky and they remove that cap on the savings account ;)