quercus

Now i've had chance to catch my breath after moving over, i've started to wonder why my Westpac savings account only pays 5.5, when my Nationwide account is paying more, given the bank base rates are higher in Aus than UK.

Has anyone experience of Dragondirect, who're offering 7% on their online account?
Q

rancid

we have a dragon direct account with st george, it is an internet only account, it has to be linked to another of their accounts, in our case the freedom account. You log into internet banking and can transfer in and out of it as many times as you like for free. it seems like a good account.

sprite_green

Hi Q - can't help with Dragon specifically, but I've attached a link to a rate comparison site:

http://www.ratecity.com.au/savings-accounts/

You may be aware of it already (Dragon is pretty close to the top of the rate table), but it also includes some kind of star ratings too:

http://www.ratecity.com.au/images/pd...ar_ratings.pdf

HTH.

quercus

Hi Rancid, thanks for the recommendation.

It looks like I can link the Dragondirect account to my Westpac transaction account, so that makes lfe easier. There's no branches near me, but I don't think that matters with an online account.

I can't see if the interest is tiered or if you get the same rate for any balance. Also, do you get penalties for making a withdrawal? I've been caught out with my Alliance & Leicester account and been penalised a whole months interest on my entire balance for one withdrawal.

quercus

Hi Sprite-green.

Thanks for sending the links. Ratecity is where I found the dragondirect account, it's a good site.

Love the avatar btw! (;

northernbird

We bank with ANZ and they offer us 7% on our internet only savings account.

Sooty and Sweep

Thanks, for the heads up, nice comparison site!

quoll

Yup, very happy with my Dragondirect. I am just about to set one up for my new granddaughter.

Swerv-o

I believe that Bankwest are currently offering the highest cash interest rate at the moment - 7.20% on their telenet saver account for the first year.

This can be linked to any normal transaction account.


S

esperanza

Dammit you beat me to it!!

I have one of the Bankwest accounts, and it's good because you don't have to make a payment every month (as some other accounts require) and there are no penalties for withdrawing money (you don't lose that month's interest) and it links to your existing account - no need to open up extra accounts just for the sake of it.

I've used it to put money in and out of on the internet, it's all worked just fine, and their customer service has been great too - not that I've had any problems, but they've always been very polite and helpful on the phone. So have Westpac actually. Both in a different league to Nationwide in the UK, who I dread phoning!

quercus

Thanks you guys. Dragon sounds good but I will also look at Bankwest and ANZ.

Quoll, congrats about the new grandchild!

Q