# What bank are you with? Why?



## youngone (11 April 2011)

Just curious what bank are you with? if so, why?

DO you have more then one bank?


----------



## jimmyizgod (11 April 2011)

youngone said:


> Just curious what bank are you with? if so, why?
> 
> DO you have more then one bank?




im with st george as my primary bank (for me the most important thing is minimal account fees and an "emergency" credit card with no annual fees as i do pretty much all my banking online)

then i also have a bankwest account for cmcmarkets, and a comsec account.


----------



## Bill M (11 April 2011)

I have several bank accounts but my main one is NAB. No fees for everyday banking and no annual credit card fee as I am a shareholder. The ones I will never deal with are the ones that charge fees for everyday use.


----------



## tothemax6 (11 April 2011)

My money is all over the place. Probably have about 8 different accounts, some associated with brokers of course.


----------



## pixel (11 April 2011)

youngone said:


> Just curious what bank are you with? if so, why?
> 
> DO you have more then one bank?



 Day-to-Day it's ANZ, for no other reason than we've opened an account with them before we emigrated; a bank manager at Deutsche gave us the address, and it was all done by mail. If only banking were as easy and straight-forward as 30-odd years ago 

We did change account types a few times since; never paid any charges except for cheque books. ANZ Visa gets paid after the free period by Direct Debit - no hassle either.

For "serious" money - as in savings accounts, term deposits etc. -  we do "shop around" for the best deal available at the time. Been doing business with Macquarie, Westpac, CBA, NAB, BOQ, possibly some others I've forgotten. Currently running one TD with ANZ, who offered long-standing customers of theirs an extra sweetener none of the others would match.

Broker Accounts are currently linked to Macquarie CMAs that pay RBA cash rates calculated daily.


----------



## Julia (11 April 2011)

For me ditto what Pixel has said except I've been with ANZ all my life in NZ and here.
Great service from the local branch. Never had a single complaint.  No fees.
Invested funds, however, go wherever the best rate is.


----------



## So_Cynical (11 April 2011)

St George - everyday account, its free and easy..been with them for about 2 years. 
Rabo - Online high interest account, all my divis go in here until needed..joined about 2 years ago.
Comsec - Use both the high interest and cash settlement account..been with them about 3 years.

Happy enough with the above arrangement.


----------



## jbocker (11 April 2011)

Term Deposits with BOQ, 2 with Bankwest (no much longer about to go elsewhere with renewal). I chase the rates at renewal time.
 I use this as a guide, but would be interested in anything else that is better.

http://www.canstar.com.au/interest-rate-comparison/compare-10k-term-deposit-rates.html

Day to Day - ANZ. Because it is right next door, and the tellers treat me well, always friendly, polite and smiles (an 'interest rate' that I value when dealing with day to day banking).


----------



## burglar (12 April 2011)

NAB 4 decades 

They said yes when other lenders said no


----------



## GumbyLearner (12 April 2011)

youngone said:


> Just curious what bank are you with? if so, why?
> 
> DO you have more then one bank?




I'm with nunya youngone. 

Who are you with?:iamwithst


----------



## youngone (12 April 2011)

GumbyLearner said:


> I'm with nunya youngone.
> 
> Who are you with?:iamwithst




Nunja? 

I only have Comsec account. Trying to get a general consensus from the board for another account. I have been told HSBC is quite good in dealing with international exchange.


----------



## ENP (12 April 2011)

ASB Bank
Rabodirect

These are both NZ banks. ASB because I work for them. Rabodirect because their savings account and term deposit rates are consistently higher, plus it keeps the money out of reach so it makes it harder to dip into it. 

No fees are a must these days (online accounts, etc)


----------



## lianeisme (12 April 2011)

I'm, with CBA  love the dividend and Suncorp because I think they are going to get a very strong market share regarding insurance. I belive they are both cheap


----------



## Julia (12 April 2011)

lianeisme said:


> I'm, with CBA  love the dividend and Suncorp because I think they are going to get a very strong market share regarding insurance. I belive they are both cheap



 ?????


----------



## investorpaul (12 April 2011)

I bank with the following:

Commonwealth: Have multiple accounts mainly due to my "dollarmite" account I got when I was in primary school. I do like their products and service.

Bankwest: Wifey made us get a new joint account when we got married so we can take advantage of their higher interest rates.

ANZ: Business accounts because they were the cheapest. I dont like their service overall though

ING Direct: An old savings account that I dont use anymore but have not bothered closing it.


----------



## burglar (17 June 2012)

burglar said:


> NAB 4 decades
> 
> They said yes when other lenders said no




I'm still with NAB (it lays dormant).
Recently opened a cheque account with CPS Credit Union 
for my everyday banking and for cheques (of course).

I found that cheques are antiquated in that they go by snail mail.
(and some companies return them the same way)!

My latest foray is internet banking.


----------



## Tightwad (17 June 2012)

I think that should read which bank... and yes im with CBA

have had deposits with bankwest.. and use ubank/NAB


----------



## trillionaire#1 (17 June 2012)

Ive had an account  with  : cps credit union for about 20+years
                       commsec  just a few years.


----------



## tech/a (17 June 2012)

CBA
They chased our business.
Offer too good to refuse.

Would never use NAB 
In the Late 80s when I was
Losing my shirt NAB made sure I did.
Was paying 18% interest and then a 
Further 6 % penalty interest. That
Really helped me get out of the sheet.

Other accounts with Bank SA which is 
ST George here.

My main criteria is easy of doing business with.
Overdraft and business lease loans all pre approved.
Own personal business banker who I have a direct
Business number and a mobile. Your bank
Has to be your financial partner and CBA are certainly
That with no fuss.
Mind you I think the quality of a bank becomes clear
In the hard times not the good times. When financial
Partner can turn to financial hit man.


----------



## luap77 (17 June 2012)

CBA. The only bank that chased my business and answered all my questions. Also had bad experiences with NAB, and ANZ staff I have interacted with have been more sales than service.


----------



## medicowallet (17 June 2012)

In my "modern era"

NAB (and Ubank)
CBA

Used to have my money spread out over some more banks.

Why am I with them

Because I used to bank mainly with the CBA and they gave me the %$&#@ then I went to NAB and after the hassle of re-opening SMSF and trust accounts with another bank, when they gave me the %$&#@   it confirmed my suspicions that all banks and bank managers are incompetent fools and that it makes very little difference who you bank with.

I do review the best deals for my cash rate every month, and if there is a product which will make me money for changing, I will.

MW


----------



## DB008 (17 June 2012)

Some with BoQ. 
One of the reasons is because of the free security token. Even is someone gets into my accounts, it's pretty much impossible to transfer money out of it.

http://www.boq.com.au/online_enhancedIB_security_token.htm


----------



## waimate01 (17 June 2012)

Lotsa banks, StGeorge primary.

Pro tip: have your credit cards with institutions with which you have no other relationship. Then, in the event of an unresolved dispute, you can stand your ground. Otherwise, the bank has the right to resolve an issue by helping themselves to funds from other accounts or adding on to existing loans. Once, after a year of back-and-forth about a disputed credit card transaction I was able to resolve it by sending them a letter saying 'this matter is now closed'. That wouldn't have worked if I'd had other accounts with the same institution. (They still have the right to go after you, but it's so much harder when they can't just help themselves to your money)


----------



## blue0810 (17 June 2012)

medicowallet said:


> In my "modern era"
> 
> NAB (and Ubank)
> CBA
> ...



Agree.

All banks are just banks. At end of the day,   they  only need our money .


----------



## Lantern (17 June 2012)

Summerland Credit Union.

Why?
It is the only institution with a branch in the village I live in.

Bit of a amusing story.
My employer banks with SCU and Westpac.
When they made me a signature with Westpac, I had to jump through all kinds of hoops to prove my identity.
They kindly explained that if I had an account with them, the hoops would have been fewer and larger.
I explained that I did have an account with them until they closed the branch in the village.
They left me rather than me leaving them!
Barstewards.


----------



## damien275x (17 June 2012)

Credit Union Australia
Why.. because it's the default account I  have had open since I was 15. 

Do I care about service or fees, no not really, I don't keep any money in the bank. I keep it in gold in personal vaults and deposit boxes. (I come from a family who have lived through 2 currency collapses) .. so they don't trust digital money. It's also good because Gold has gone up a lot, but if you operate and transact in it on a daily basis over the long term (say 20 years) like my parents and grandparents do..  it just averages out to money that doesn't get devalued


----------



## Onceblue (17 June 2012)

Anz and a Commsec account.

Years ago, just divorced with kids, wanted to buy out the ex from the family home.
All other banks and brokers said no to a mortgage. My branch manager at the ANZ knew my banking history over years and said yes. I've moved on financially but that decision made all the difference to me at the time.


----------



## Gringotts Bank (17 June 2012)

Gringotts Bank store all my important documents and gold bars.  Unsurpassed security.


----------



## Smurf1976 (17 June 2012)

CBA for my main accounts. Also have online accounts with ING and BankWest and my broker is Etrade (ANZ account for cash).

There has been no reason to change from CBA so I haven't, apart from opening the other accounts for either brokerage use, or for reasons of keeping some $ separate from the rest (eg money that will need to be paid in tax I keep in a separate account until it's due).

Not that I ever opened a transaction account with CBA in the first place. Back in the 1980's I had an account with SBT which then merged to become the Trust Bank. In due course that was taken over by Colonial, and just a few weeks (or maybe months, but it wasn't long) later that was taken over by CBA. All the old account numbers still work, and I know that I've got one payment that still goes via the old Trust Bank account number.


----------



## Julia (17 June 2012)

ANZ as primary bank.  Never had a reason to change.  Have always been treated really well and value the personal relationship in a fairly small branch.

Also use any bank at all for Online At Call or Term Deposit a/cs.  Presently have these across several institutions.

Imo the most customer friendly bank all up is Rabodirect.  They go out of their way to give customers great service and have a very functional website/funds transfer operation.


----------



## pixel (18 June 2012)

Julia said:


> ANZ as primary bank.  Never had a reason to change.  Have always been treated really well and value the personal relationship in a fairly small branch.
> 
> Also use any bank at all for Online At Call or Term Deposit a/cs.  Presently have these across several institutions.
> 
> Imo the most customer friendly bank all up is Rabodirect.  They go out of their way to give customers great service and have a very functional website/funds transfer operation.




Same here for paras 1 and 2:
1. A few months before migrating to Perth, we sent a (rather substantial) cheque to ANZ Head Office on St Georges Terrace, to put it into an account and wait for us to rock up with passport number xxxx.
No problem - and none at any time in the decades since.

2. Sure, for TDs, even CMAs, you have to chase the percentage fractions behind the decimal point.

But for my Trading CMAs, I have for years been with Macquarie. Most online brokers are happy to deal with them - I use PariTrade and Pershing. For NSX stocks, I had to open a separate account with Macquarie as an FSB; not many brokers are offering NSX - none online. I also maintain a smaller Westpac account, which gives me the same interest (RBA cash rate, calculated daily) as Macquarie, but has the added benefit of reducing brokerage by $5 a trade.


----------



## sinner (18 June 2012)

My post is identical to Julias except my primary is CBA (a consequence of the DollarMite campaign in the 80s/90s), I've had my main CBA account since I was 5 or 6 years old!

Otherwise very similar in having multiple accounts across institutions and credit unions and happy to move my money between them.

I also have a few foreign currency denominated accounts, like my HSBC HKD account and also a EUR account.

Re Rabobank, I agree there too. From my perspective Rabo is great because they aren't a regular bank which doles out mortgages and credit cards, AFAIK their main business is agriculture lending.


----------

