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Corporate greed, as exposed with the Royal Commission into Banking seems to rear its ugly head then? FFS no. Bankwest did not lock you out so they could "play the money markets" for 3 days with your account, which in the grand scheme of things is mere cents to them. The chances of this being "corporate greed" is about 0%.
Personally I use a Bankwest transaction account + uBank ultra account for a more flexible savings account without penalties (I just throw the ultra card into a drawer and never use it), but if Bankwest made their Hero Saver account more flexible (eg – 1 withdrawal from savings per month without penalty), I'd swap from uBank in a heartbeat since I hate their buggy online banking.
And I consider the quality of apps and online banking to be one of the primary deciders when it comes to if I will do more of my banking with an institution. But at the end of the day the lowest rates/fees and highest benefits has to be the #1 factor, so maybe they are saving a massive amount of money by having a crap online experience and passing on some of that to customers
I even called the bankwest scam hotline 1300 number and they couldnt help. I only use my account to pay bills, its connected to paypal for ebay. and i buy stuff from Aliexpress. Only thing i could think of is i did a international money transfer online to indonesia for Eid donation. but i have been doing it for 3 years.
You get charged a 2% or $4 cash advance (whichever greatest) even with balance in positive unless using Bankwest stores, Bankwest Online Banking, Bankwest ATMs and Commonwealth Bank ATMs. So I guess my issue is. I'm AHEAD on the card, plus this worked in Japan, despite me doubting the claims it would.
The banking review (mobile call, verified id's) we settled on Westpac Life x2 accounts/eSaver/Westpac 55+ and Retired/Low Rate Mastercard. No money was added, none was withdrawn to set them up. They appeared online, and all they asked me to do was use online banking to put any of my existing funds where I wanted.
The online banking side of things has been changed, supposedly for the better, but I don't find it an improvement, particularly for things like BPay payments. BankWest's systems aren't that good either - make a cash payment at a branch onto your credit card, and the available credit won't increase until the next day,as there's no real-time processing for payments onto the card.
I will put this down to experience and hope someone else might benefit from knowing about the difficulty withdrawing money from Bankwest's Hero Saver if that is your only Bankwest account. Thanks for pointing out the current interest rate of 2.65% because it was 2.90% last time I checked and now is way out of whack with RAMS at 3.15%.
bankwest is awesome for everyday banking and credit cards. get a platinum card for your international purchases ... or if you want to pay forex fees in exchange for a points card, then get your qantas cards.
BankWest is experiencing system issues which are affecting online and telephone banking services, plus some regular payments and direct debits. We want to reassure all of our customers that they can still access their money at branches, via EFTPOS and ATMs.
