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kit
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punishment by auto renewal of term deposit

Posted by kit kit
Message 1 of 2 165 Views

Your online banking term deposit only send out paper auto renewal notice + 7 days grace period. I went for a 4 weeks holiday and missed the grace period. I needed my money in next 2 months and it is locked into a six months TD.

 

The result of that I was punished with a $300 fine and had to wait for 31 days to get my money back.

 

My issue is that your Bank encourage online banking but you give no concern in we may not get the paper notice or we are on long holiday. Also when I open the TD you don't clearly indicated you will auto renew it with the same term.

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Re: punishment by auto renewal of term deposit

Posted by LyndsC LyndsC
Message 2 of 2 162 Views

Hi @kit, thanks for contacting us in regards to this. I'd really like to look into this further for you, however for security reason's we can't access or discuss any personal account information over the forum, so we would need to speak with you over the phone. If you can please send me an email to forum@bankwest.com.au with your full name, best contact number and current location so I can arrange for a specialist to give you a call. Thanks

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