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Who has the best banking in your experience?

Discussion in 'Property Finance' started by albanga, 20th Apr, 2016.

  1. albanga

    albanga Well-Known Member

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    For no reason other than to hear peoples views.
    I have banked with WBC, Bankwest, ANZ and now just refinanced to CBA.

    It's only early but CBA in terms of banking seem to be the best I have dealt with.
    • Online banking is super simple and user friendly.
    • Great customer service at branch level. I work in Melbourne CBD and there is greeting on arrival with direction, minimal waiting times.
    • Brilliant ATM access utilising CBA and Bankwest who have ATM's in all 7'11s.
    Of all the others I have used I would have ANZ down the bottom. Online banking is fine but unnecessarily over complicated at times (You need to be a detective to find funds in redraw). Feels like they have the least amount of ATM's and not sure they even have an affiliate branch?
    I also found myself always waiting at branches and every question I asked would require escalation.
     
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  2. twobobsworth

    twobobsworth Well-Known Member

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    I rarely have human contact with any bank, but find CBA netbank the better than anything else I've used. Haven't walked into a bank branch for at least 2 years.
     
  3. D.T.

    D.T. Adelaide Property Manager Business Member

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    Had great experience with Macquarie

    Good - CBA

    Passable but rolling my eyes - wbc and bankwest

    Terrible - NAB
     
  4. EN710

    EN710 Well-Known Member

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    Best out of the big 4 is CBA
    Other online banks are improving too
     
  5. Player

    Player Well-Known Member

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    I bank with all of the big four and three minors. In terms of loans too many stories of good and not so good. For lending I just look at them as money shops.......and there is no shortage of money shops anywhere. I have used both brokers and direct in the past with good results form both avenues. I find dealing direct for an existing loan variation or re-finance yields better outcomes for me. If I intend refinancing elsewhere I will use a broker.

    For banking my biggest portion is with ANZ. Not displeased. CBA has next most exposure and I find Commbank with online netbank better than the (now) upgraded ANZ on line experience. I invest/trade through both E*Trade and Commsec and prefer the latter for usability.

    On the odd occasion that they misbehave I threaten to leave and things are sorted quick smart. It would be a hassle to shift the bulk of my many accounts especially those that belong to trusts and SMSF. If I had to I would however, some stern words and threats usually does the trick. I am still pleased to have the bulk of my affairs with CBA and ANZ.
     
  6. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    I don't think you can really answer this question with a single answer. Is it based on customer service, credit policy, serviceability policy, flexibility of products, internet banking portal, mobile device app, corporate ethics and responsibility? You could even break down each of those categories into sub-categories.

    Of the major banks each has it's individual strengths and weaknesses and the do change over time.
     
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  7. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    I work for CBA and we have a major focus on internet/online banking. Also the apps are really good.
    And to contrast, if using the app for ANZ is I can't see my money coming in and out in a timely manner and its a bit frustrating. And the $1000 daily transfer limit on the app is way too low as I regularly have 3k or so I want to transfer to elsewhere.
     
  8. lost nomad

    lost nomad Well-Known Member

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    I prefer CBA. I'm generally happy to pay slightly more for what I think is the superior product. However I never use them for foreign transfers- total rip off.

    I think their security is awesome, they have called numerous times over the years during my shopping sprees, checking that all is above board after 3 transactions.

    Not the same service by a NON CBA credit card- got skimmed O/S recently with $4000+ charged from multiple transactions in a day. It would have kept going unless I got a text for an online shopping passcode which alerted me to the issue & I called the credit card co.
     
  9. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

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    I find CBA has the best online platform. ANZ up until recently had an absolutely terrible system, but this has been updated to a tolerable level, though still not to the quality of CBA in my opinion.
     
  10. Nick Valsamis

    Nick Valsamis Well-Known Member

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    Precisely. I use CBA for their banking applications but from a customer experience side they definitely need more training for their staff. Mistakes from branch level to backend support staff.
     
  11. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Personally - and as a broker - I'd put CBA at the top. They frustrate the hell out of me sometimes - but for the most part, they have good pricing/policies and their online banking is miles ahead.

    Cheers

    Jamie
     
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  12. JacM

    JacM VIC Buyer's Agent Business Member

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    Not sure how they are with mortgages, but in terms of general customer service etc, I am very impressed with Bank of Queensland. When I go into a branch, they are so pleasant, and there is always a vibe that they might be about to make me a cup of tea and dish up some home-made cake. Also I have yet to encounter a staff member that doesn't know how to do something and needs to consult someone else. A very rare trait these days.
     
  13. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    All true. CBAs policy and pricing are very good. Historically though, their pricing hasn't been as good as some competitors, overall they've been a bit lagging. Their serivicing calculator is also a long way behind the NAB and several others. From a corporate ethic's perspective and care of existing customers I'd rate them fairly poorly though.

    Comparing the CBA to the NAB though, right now the NAB is a bit behind on rates but in the past they've often been much better. CBAs lending policy is far more flexible and their products are generally better. The NAB has always had far better servicing calculators. Servicing of existing customers is a mixed bag, I think the broker channel treats existing customers better than the branch channel.

    For online banking the CBA is long considered one of the best and certainly the prettiest, ANZ has previously been the worst but I haven't checked out the new system properly yet. Most people don't need all the functionality offered in any of the online platforms however, even a basic platform has most people covered. Westpac has generally been quite ugly, but has surprising depth in it's functionality. NAB is a bit average.

    In the online platform space, I'd be watching Macquarie. They're coming out with some very interesting stuff. I believe the trials are starting in a few weeks.
     
  14. Chilliblue

    Chilliblue Well-Known Member

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    I have the most issues with CBA commercial and am uncertain if that is because they are the biggest
     
  15. Blacky

    Blacky Well-Known Member

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    For resi CBA have been good. Helps being with private bank, having a personal contact.
    Citibank have bizarre policies and procedures (which seem to change depending on who you speak with) but have some good fee free banking and the best international exchange rates for a (major) bank. Again, having a personal contact is helpful.
    SGB have a terrible bank platform. Not just the user interface, but the actual banks platform. It makes a lot of 'simple' tasks complicated, and requires 'work arounds'.
    Westpac have been acceptable.

    Its been years since I used Bank West or Anz so cant really comment.

    In the Commercial space - CBA are tough. Their target market is for customers far bigger than I am, and therefore Im caught in the middle.
    Westpac commercial space is very good.
    SGB actually has a pretty good commercial arm as well - though I used to work there, so my connection base remains very strong, which impacts on service levels (I also know too much, so know how to work their systems to my advantage)
    Bankwest have some nice neiches which work well if you operate in the right space.
    Macquarie have a very good commerical arm - however, can be brutal when times turn tough. They have very little patience with non-performance and a change in policy, direction or market conditions can turn their appetite for business very quickly. Worth looking at but tread with caution.

    Overall Im happy with CBA who has most of my resi and day to day banking, Citi have good products which Im happy enough with.
    Westpac will keep most of my commercial stuff.

    Blacky
     
  16. Marty McDonald

    Marty McDonald Mortgage broker Business Member

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    +1 for CBA
     
  17. bob shovel

    bob shovel Well-Known Member

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    Nothing beats my piggy bank under the bed! ;) safe and secure. great customer service, always open and no fees!
     
  18. euro73

    euro73 Well-Known Member Business Member

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    I use several of these sites.
    The ANZ site is great. Their app is also great.
    CBA's netbank and app are also both great.
    Anyone who cant use these sites or apps easily and effectively probably needs to reconsider their IT proficiency :)

    UBank's site is HOPELESS with a capital everything , but even it is functional and relatively easy to navigate, nonetheless.
     
  19. Observer

    Observer Well-Known Member

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    CBA is the best online banking for me.
     
  20. The Falcon

    The Falcon Well-Known Member

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    CBA all the way.