Originally Posted by DumbFalang

Bank ? Best ?

A better question may have been - "which is the least ruthless Aussie Bank and why the hell do we them anyway ?"

There is good reason why the Aussie banks are amongst the richest in the world

Originally Posted by nick72

Yes because they have the best risk underwriting, thats why the Big 4 in Australia are in the top 20 for AAA rated banks in the world !

Safest place to have your money ? Australian Banks

I work for one of the major banks here and I have to say its all down to personal preference.

Go and meet your local bank manager and make a decision then, just because you can get cheaper rates and fees doesnt make them the 'best' bank.

I would rather pay the fees and have the service. Service is paramount.

Would you pay for cheap telly and moan when it went wrong ?

Just for information I work with major corporate entities so I do not have a vested interest in personal finance

Good luck with whoever you choose......


Worlds Safest Banks

Originally Posted by Wol

You are joking, no?

Apart from Bank of Queensland - which is a sort of franchise - my experiences with CBA, Westpac, ANZ and St George make me wonder if any of them could run a Teddy Bears' tea party. Words fail me - if you think UK banks have customer relations problems, efficiency issues and competency gaps, then wait until you deal with Australian banks.

Just one example, from a couple of months ago: a term deposit with Westpac matured, and the capital and interest were to be paid into our Super account. They *were* - but $14k witholding tax had been deducted. On being tackled, Westpac said that, since we hadn't given our Super fund TFN they were obligated to deduct it. On being challenged they admitted they *had* the TFN - then said that we would have to take it up with the tax office. Only when I threatened to bring the branch down did they eventually agree to give us a cheque for the incorrectly deducted money - and then said that in this case they were prepared to waive the charge for the cheque!
I'm afraid that this has been our experience with all the Australian banks except for BoQ.

You were going to bring the branch down ? by what means explosives ? lol

Originally Posted by nick72

Why are you quoting the fact I work for one of the majors ? and then saying you are joking no ??

It certainly is down to personal preference, lots of people have good stories of banks and I can give you horror stories of BoQ, but again its PERSONAL PREFERENCE. No I am not joking ...

Originally Posted by Jen1977ni

Do Aussie shops do 'cashback' like they do here in the UK? I find I never have to go to the bank these days and like it that way lol

Originally Posted by Wol

I cast no aspersions on your bank - obviously, since I don't know which it is.

My comments purely relate to my own experiences, with the banks I quoted.

Incidentally, one of my accounts is with RABO, who say on their website:

>> RaboPlus is issued by Australia's safest bank, Rabobank Australia Limited which has a AAA rating from Standard & Poor's. This is higher than any Australian owned or foreign subsidiary bank in Australia. <<

which is rather at odds with your statement about the "big 4" Australian banks. Are they lying? (RABO, that is). Or is the last sentence very carefully worded so as to exclude "native" Australian banks?

Originally Posted by MartinLuther

As others have said: Yes.

You can take out as much as you like (and the shop can handle) up to your daily allowance.

Does the UK still have a £50 limit or have they entered the modern world?

Originally Posted by MartinLuther

Come on Wol anyone who's been here for more than a year should know who the big 4 are.

Also having the highest rating doesn't make you the biggest bank.

Originally Posted by Wol

Not sure I understand your post - you seem to be inferring something that I haven't said.

Of course one knows who the "big 4" are - *before* arriving here. And of course having the AAA rating doesn't make a bank the biggest.

All I was doing was replying to a post that implied that (only) the big 4 are in the top 20 rated banks. (I think - I've lost track of the thread now <g>.)

Originally Posted by moneypenny20

But don't call it cashback here as they won't know what you're talking about. They call it 'cash out'. I had the opposite problem when I last went back. Was asking for cash out and got blank looks. Bit daft, neither expression is complicated

Originally Posted by Swerv-o

I bank with Citibank - I have found them to be excellent, and their fee free savings (current) account is great. Everything is done either online or over the phone, and it's refreshing that their operators all speak English, albeit US English. Over the counter transactions can be done at any Post Office if you need to pay in a cheque or withdraw more than the ATM will allow.

They were excellent with my mortgage, and I was able to quickly and easily get exactly what I wanted from them.

I think the whole 'branch nearby' thing is a bit of a furfy - I haven't once needed to go to a branch for banking purposes. They are in the same ATM alliance as Westpac/St George/BankSA, and I rarely struggle to find a free ATM.

Citi also have a great range of support products such as credit cards, mortgages etc. Another bonus is that ATM withdrawals are free overseas if you can find a Citi ATM - This was really useful when I was in The US earlier in the year.

I wouldn't hesitate to recommend them to anyone, and certainly several of my friends hold accounts with them. People need to find the fee free alternatives, and vote with their feet - I do get tired of people moaning that their bank charges them for services that I get for free, but then look at you weirdly when you suggest moving bank.

Can't vote, as Citi aren't on your list, but there are definitely alternatives to getting screwed by the so called Big 4...


S

Originally Posted by Jen1977ni

Just curious as to which Aussie bank people have had the most positive experiences with, and what those experiences have been, thanks in advance for your help people!

Originally Posted by Lord_Farquar

Westpac are very average in my opinion. With all the fees they are poor value for money.

No wonder Australian banks are doing so well! It's because they rip off their customers!