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LB
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E saver interest rates

Posted by LB LB
Message 1 of 4 1,014 Views

Why is the interest rates for the e-saver account nearly 30% less than the hero account.?. Initially we set up an e-saver account for higher reward rate.  Why are the changes so deceptive?

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Re: E saver interest rates

Posted by MegB MegB
Message 2 of 4 1,004 Views

Hi @LB, our savings accounts have variable rates, which can change at any time. You can find our current rates on our website

As we're unable to view your accounts via the Forum I'm sorry, please log into your online banking and select the 'Message us now' button (or the 'Ask us' button if using our app) so we can look into why the rate has changed. 

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LB
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Re: E saver interest rates

Posted by LB LB
Message 3 of 4 972 Views

MegB... G'day!

Thanks for the reply...  we opened an E~saver  account (which needed to be attached to an Hero account) to benefit from the higher interest rate offered on this account.  The E~saver account was to reward the customer for not withdrawing monies..  Now,  for whatever reason,  the whole principle of the account and its rates have reversed!  You won't need to view my personal accounts to see that.  That will be obvious in everyone's accounts.   I'm fascinated that Bank West implies that I must review my accounts monthly and   keep opening and closing accounts so regularly to keep up with your variable rate changes of each account.   Should I mention the 1000s of dollars I've lost in the mean time because of these exhausting changes.    

Thanks Bank West...

 

Sorry MegB!

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Re: E saver interest rates

Posted by MegB MegB
Message 4 of 4 966 Views

I can appreciate this is frustrating @LB which is why I've recommended contacting our Online Messaging Team so we can investigate the cause of the rate change for your account specifically.

Should the rate on our Smart eSaver change, this will change for all Smart eSavers both old and new. Closing and opening new accounts month on month wouldn't make a difference and I'm not sure where this was implied. 

We do recommend reviewing your accounts periodically to ensure they still meet your financial needs.

As above, I'm unable to view your accounts via the Forum to investigate further I'm sorry. 

If you have any further enquiries regarding your account/s, the team are happy to help 24/7 365. 

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