ME Bank EveryDay Transaction Account - 5% PayPass Cashback Offer for 6 Months

1490

ME Bank EveryDay Transaction Account - 5% PayPass Cashback Offer for 6 Months

AssociatedLMEBankScott on 03/03/2014 - 09:47 mebank.com.au (3350 clicks)
Last edited 31/05/2014 - 18:56 by 3 other users

Hi everyone,

Here’s the latest offer from ME Bank.

Open an EveryDay Transaction Account before 31st of August, and get 5% cash back when you Tap and Go on all MasterCard PayPass purchases under $100 for the first 6 months (naturally, terms and conditions apply, check them out at mebank.com.au/everyday). The money you get back goes into your account 30 days after the date of transaction.

You can find out more and apply here

What’s the catch? This is for new accounts, so if you already have an ME Bank EveryDay Transaction Account opened on or prior to 2 March 2014 you’re not eligible – sorry!

BUT, if you or someone you know doesn’t have an EveryDay Transaction Account – why not join ME Bank today and enjoy an account with no account-keeping fees, and free access to over 3,000 ME Bank, Westpac, St.George, BankSA and Bank of Melbourne ATMs?

Cheers, Scott from ME Bank

Terms and Conditions of Cash Back Offer

*Available to customers who open an EveryDay Transaction Account (ETA) between 3/03/14 and 31/8/14. Receive 5% cash back on all contactless purchases made within Australia using PayPass Tap & Go for amounts of $100.00 or less for 6 months from the date your account is opened.

The 5% cash back offer will not apply to ATM transactions, payments pressing ‘Savings’, ‘Cheque’ or ‘Credit’, BPAY®, PayAnyone, Phone or Internet Banking, direct debits or credits, cheque or Bank@Post transactions.

The 5% cash back will be paid into your account within 30 days after the date the transaction is debited to your account.

Customers with ETAs opened prior to 3/03/14 are not eligible to participate. Only one cash back offer per customer and account.

Important information about the EveryDay Transaction Account.

Fees and charges apply. Terms and conditions available on request. This is general information only and you should consider if this product is appropriate for you.

# MasterCard Zero Liability protection is subject to meeting MasterCard's conditions. For full details of the MasterCard Zero Liability policy and conditions visit mastercard.com.au/zero-liability.html

MasterCard and the MasterCard brand mark are registered trademarks of MasterCard International Incorporated. Tap & Go and PayPass are trademarks of MasterCard International Incorporated.

Edit: seems to be extended to end of August

Referral Links

Referral: random (30)

$150 Coles Group & Myer Gift Card for both referree and referrer when loans are settled.

Financial Bank Account Cashback Transaction Account

31 Aug 2014

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closed Comments

c64 on 03/03/2014 - 09:49

+3

zomg! an ing direct competitor!

i've already got an account :(
inherentchoice on 03/03/2014 - 09:53

+3

Now cue all the comments with ING Direct comparisons. Good to see a bank making an effort though. Not sure it's enough to make me switch from ING as their 2% cashback isn't limited to 6 months.
- Commonwealth Pig on 03/03/2014 - 09:58
  
  +10
  
  Not sure it's enough to make me switch from ING as their 2% cashback isn't limited to 6 months.
  
  And doesn't take 30 days to come through..
- DirtySteve on 03/03/2014 - 10:58
  
  +1
  
  Correct me if I'm wrong — but I thought ING cashback was limited to a six month period.
  
  Could somebody explain how to extend it past the initial six month period.
  
  I do know about the recent referral program and also the process whereby you close your existing account and then reapply for a new account, but technically these are still limited to a six month period. Or so I thought…
- spendinghacker on 03/03/2014 - 12:30
  
  +14
  
  With all due respect to Scott from ME Bank, this deal is inferior to the one from ING Direct.
  
  This is for the following reasons:
  
  You have to wait 30 days before you get your 5% rebate whereas with ING direct you get it within 2-3 days.
  
  $2.50 fee for ANY Bank@Post transaction (deposit or withdrawal). Given ME Bank does not have branches it is highly likely that one will need to resort to doing a Bank@Post transaction from time to time. Therefore, IMHO this fee is a deal breaker as ING direct charges nothing.
  
  $10 for a cheque book. ING Direct charges nothing.
  
  $8 for a bank cheque. ING Direct charges nothing and will also mail it on your behalf to a 3rd party.
  
  ME Bank charges dishonour fees while ING Direct does not.
  
  Bottom line, it is good for those of us who already 'milked' the ING Direct offer dry and cannot get 5% from them again, no matter what hacks they try. You just have to be very careful to make sure you use the ME bank product in a way that you are not slugged with any fees as that will negate the benefit of any cashback.
  
  In general, the ME bank transaction account is pretty ordinary due to all the sneaky fees they slug you with and I would never contemplate to use it as my primary and permanent transaction account.
  
  As far as the offer only being available to new customers, no surprises there. As usual, loyalty does not pay .
  - abc on 03/03/2014 - 12:35
    
    +1
    
    Yes I take your "loyalty does not pay" argument but in this case they have closed the deal off to any previous customers. Anything to say about that?
    - spendinghacker on 03/03/2014 - 12:44
      
      +2
      
      they have closed the deal off to any previous customers
      
      Yes, standard practice. See me "loyalty doesn't pay" comment above.
      
      As consumers, we need to start getting used to regularly 'churning' ALL of our products whether it is banking, telco or anything else. That's the only way to make sure you always get the ABSOLUTE BEST deal.
      
      Personally, I am constantly churning all my products and conduct an annual review of ALL my service providers.
      
      With my mobile for example, I use prepaid and churn all the time (almost on a monthly basis). Given you can always keep your number, it makes things very easy.
  - Briefcase Mong on 03/03/2014 - 19:07
    
    is there a mebank branch where i can deposit money ?
    - tooblue on 04/03/2014 - 16:35
      
      Their branches dobn't handle cash.
  - salehiam on 04/03/2014 - 00:10
    
    MeBank, genuinely fairer banking :)
herbus on 03/03/2014 - 09:56

+8

I love that ING's cashback lands in the account pretty much right away. I'm all for competition and have liked ME when I've used them in the past, but getting the credit back 30 days later stands out as a weak spot for me here. I always prefer my money in my pocket instead of someone else's…
- c64 on 03/03/2014 - 09:58
  
  you only lose ~5%/12 = .4%. still a good rate
  - herbus on 03/03/2014 - 09:59
    
    +2
    
    Deal still got a + from me :)
- danyool on 03/03/2014 - 17:51
  
  Just think of the surprise bonus in your account at the end of the month!
abc on 03/03/2014 - 10:01

DAMMIT. I shouldn't have delayed and took ginmi's advise and close my account after the previous $50 cashback offer.

I was going to close my ETA account this week anyway. Should I try and open another again and see if it will work? However it does say that …

Customers with ETAs opened prior to 3/03/14 are not eligible to participate. Only one cash back offer per customer and account.

So they have covered themselves there seems like it doesn't matter if you have closed your account if you are a previous ETA holder you are ineligible. Would like to see if this is enforced however.

Any previous customers want to open one and see if it works? :)
- c64 on 03/03/2014 - 10:05
  
  if you took ginmi's advice you would have lost out on the ingdirect referrals for an extra 5% period …
  - muncan on 03/03/2014 - 10:35
    
    +2
    
    I took ginmi's advice and got an ING referral & still getting 5% off.
    The trick was to open a new account after you close your defunct one… :-P
    
    As fate would have it, I'm in the processing of porting from mebank to ubank, so I'll close my mebank pronto and let you guys know if I successfully reboot (at which point it may be too late for you guys to do the same).
    
    The mebank account I'm closing is a joint account, so perhaps if I sign up separately I'll be treated as a different customer? Something for y'all to consider (but not the forever alone guy).
    
    Edit: come to think of it, I'm already getting 5% off with ING, why do I need a separate 5% off?
    Edit2: oh that's right, I'm greedy. Carry on then!
ma7trlb on 03/03/2014 - 10:04

+1

just a YMMV - I closed my account as I was having about a 1 in 4 success rate at ATMs, and the card readers in the cafe at work wouldn't accept the debit mastercard.
- ElWircho on 03/03/2014 - 10:12
  
  +2
  
  YMMV stands for Your Mileage May Vary.
  (idiomatic) It may work differently in your situation, or be different in your experience. Those batteries last nine hours in my laptop, but your mileage may vary.
  - ryang on 03/03/2014 - 10:37
    
    +4
    
    Or measurement. Which is perfectly valid for his comment. 1 in 4 ATMs worked for him - his measurement of success. Yours might vary.
aussiedogga on 03/03/2014 - 10:05

+7

Great to see some competition for ING, but come on, a little originality in your promotion would be nice! :)

I certainly won't be switching from ING to ME Bank for a few reasons;
1) You can use 'any ATM' with ING as opposed to 'most'
2) ING ongoing 2% discount on Paywave
3) My home loan is with ING so the $200 minimal withdrawl does not apply to me
4) ING's banking app and online banking is exceptional
wtfnodeal on 03/03/2014 - 10:08

-4

So 5% csshback for the rest of my life or only 6months
retiredfeline on 03/03/2014 - 10:10

No use to people who are already getting the INGDirect 5% cashback. And if you are not, I think it's less work to make an ING referral to get another 6 months, rather than go through ME's account application process.
- c64 on 03/03/2014 - 10:14
  
  +1
  
  dunno, i opened an account for a previous mebank promo and i found mebank's application process very simple - everything was verified online.
  - retiredfeline on 03/03/2014 - 10:19
    
    They got my address wrong twice and by the time the time I got the card, about 2 months later, the promo was long over.
- Wolfy on 03/03/2014 - 11:57
  
  The ING referral thing is a targeted-offer, they've not given me the chance to sign up others (I even called and asked their customer support) … so when the 6 months of ING runs out, I guess I'll change, even if ING's mobile banking app is much better than ME's.
  - retiredfeline on 03/03/2014 - 12:09
    
    If this is your first 6 months, they might still offer you referral benefits before the 6 months runs out, who knows.
unity1 on 03/03/2014 - 10:17

+2

Maybe you could introduce a scheme whereby existing members are eligible for this offer if they refer a friend, similar to this ING offer https://www.ozbargain.com.au/node/126693
- retiredfeline on 03/03/2014 - 15:49
  
  +2
  
  Yes, and I also wondered why ING didn't offer longer periods for more referrals, e.g. 6 months for the first one, then one more month for each additional referral. That would get customers referring hard.
cpho on 03/03/2014 - 10:18

+4

Ahhh nuts. Didnt close my account because of the 4.6% saver account…
Why is it only for new customers only? They should make it fror existing members too. Promotions like these just encourage people to close their accounts. You should reward current customers to keep them banking with you
- Lions44 on 03/03/2014 - 10:29
  
  I agree. I still have an everyday account to get 4.6% interest for a savings account and this sort of thing helps me make the decision to close them all once the bonus rate is up.
  - gm3stevens on 03/03/2014 - 13:31
    
    I'm on the same boat as well. I have to wait for 4 more months before I close them.
gsrt22 on 03/03/2014 - 10:20

+2

Not fair to those who already have an account. If they want to punish their current customers, I will close mine today.
- zhenjie on 03/03/2014 - 11:44
  
  +6
  
  Stop being so dramatic. They are doing this to promote signups from new customers. Not a conspiracy to punish existing customers.
Pandabargain on 03/03/2014 - 10:22

+2

Is the offer open to those who have previously had an ME everyday transaction account then closed it (prior to March 2 2014)?
- Windows7forever on 03/03/2014 - 12:00
  
  I'm the same position.
- gm3stevens on 03/03/2014 - 13:35
  
  I don't think that you are qualified as stated in the T&C: Customers with ETAs opened prior to 3/03/14 are not eligible to participate.
- AssociatedMEBankScott @ ME Bank on 03/03/2014 - 16:35
  
  +3
  
  Hello Pandabargain - yes it is! :)
  - spendinghacker on 03/03/2014 - 19:15
    
    Just goes to show again that it is CRUCIAL 'my' rule is followed always:
    
    Once promotional benefit extracted in full, close account and sever all times with the institution (including getting rid of any applicable internet banking facilities as some banks won't do it automatically).
    
    The ME Bank transaction account is inferior to other transaction accounts out there that charge no monthly account keeping fees (e.g. ING Direct, Citibank, NAB) due to their other charges which are quite sneaky.
    
    http://www.mebank.com.au/personal/bank-accounts/everyday-tra…
    
    Therefore, this is the PERFECT example for a 'milk and close' product.
  - roddo on 13/03/2014 - 13:16
    
    Cool, had one ages ago and now I'll apply for a new one.
  - quirki on 18/04/2014 - 17:16
    
    +1
    
    Update:
    
    Dear quirki,
    Thank you for your email.
    You are correct that your accounts were closed before that date, but because you had an Everyday Transaction Account, at any date before the 3 March 2014, the promotion does not apply.
    It only applies to customers who are opening an Everyday Transaction Account for the very first time, after the 03/03/2014. Not to customer's who have ever previously held an Everyday Transaction Account.
    I hope this clears it up.
    
    OP, any feedback?
sirrobin on 03/03/2014 - 10:22

+3

this will great when i need to split transactions over $100 to get the cashback. put one on ing and the other on me bank
- victorheaven on 03/03/2014 - 10:48
  
  +1
  
  You can easily split it and use the same card, can't you?
  - sirrobin on 03/03/2014 - 11:01
    
    +1
    
    yes but ing has been known to 'frown' on such shenanigans
    - jamroro on 03/03/2014 - 12:09
      
      and that's gonna stop who?
    - YadaYadaYada on 03/03/2014 - 12:41
      
      ING have changed their terms and conditions of late, and have started closing accounts for people who abuse the 5% paywave offer this way. There's a whole thread on it:
      
      https://www.ozbargain.com.au/node/118056
    - t25 on 03/03/2014 - 13:04
      
      ING doesnt give clear usage perimeters anyway, so they can be as vague/ambiguous as they want, and get away with it.
zbpanda on 03/03/2014 - 10:31

after my applacation, it is "Work Object Not Found"
- AssociatedMEBankScott @ ME Bank on 03/03/2014 - 16:36
  
  Hi Zbpanda – sorry that shouldn’t have happened, did you get it done in the end?
  - zbpanda on 04/03/2014 - 10:12
    
    not yet. still "Work Object Not Found"
KBZ on 03/03/2014 - 10:32

+13

So I get punished for being a loyal customer?
Atleast ING was happy to give it to their current customers when they first rolled out.
T-man on 03/03/2014 - 10:37

Should I wait until INGDirect react to this offer? (Maybe extend 5% cashback to existing customers again)
drillvoice on 03/03/2014 - 10:37

+4

I think ING is a better deal. I've used both banking services and the ING user experience is much much better - better online interface and ease of use whereas ME Bank's online platform feels outdated and neglected.

That said, ME Bank is a "nicer" bank that may align better with your values.
- iseenya on 03/03/2014 - 13:10
  
  +1
  
  I've spoken to MEB about their rather sad online interface with its limited facilities, which compares poorly to those of competing banks. Apparently they're in the throes of switching to a wholly new, modern platform with full online functionality: http://www.mebank.com.au/media-articles/wednesday-18-septemb…
  
  On the other hand, I've always found MEB's call centre people to be excellent to deal with, which is a big plus factor.
T-man on 03/03/2014 - 10:44

I'm receiving 2% cashback from ING, will call them to close my account today and mention that MEbank offer me 5% cashback, fingers crossed.
- muncan on 03/03/2014 - 10:50
  
  Don't forget to sign up to ING again after you've closed your account.
  You might jump back to 5%. If not you should end up back on your 2%, so what have you got to lose?
hen dawg on 03/03/2014 - 10:51

+1

Disappointed with their customer service. I signed up with the offer last year for $50. They misspelt my name on the card and by the time it was corrected I had only half the 30 days to spend the required money. I rang Mebank who after a long wait said they’d look into it but never got back to me and never got my starter bonus
marketingpolice on 03/03/2014 - 10:53

+6

ING called us the other day to say we did two transactions at Bunnings under $100 on the same day. If we do it again they will close our account. Has that happened to anyone else? We went back and got more stuff as we forgot, it was the first and only time and got busted . LAME. Think we will give ME a try too.
- T-man on 03/03/2014 - 11:01
  
  Yes, they did to me, they told me that their system will pick transactions like you said up.
- totom on 03/03/2014 - 11:02
  
  What's the issue with 2 transactions at the same store on the same day? Is there any T&C that prevents us from doing that? Do you know?
  
  I'm looking into the ING Direct thingy. Thanks.
  - T-man on 03/03/2014 - 11:39
    
    +1
    
    For example, the item is $107, you can't use paywave apparently. Then, you split the trans into 2 smaller ones: $99 and $8. You will receive a call from ING some days after.
- c64 on 03/03/2014 - 11:16
  
  i assume they mean multiple transactions at the same retailer over a very short period (ie, splitting a transaction in multiple smaller transactions).
  - t25 on 03/03/2014 - 13:07
    
    but the funny thing is, they ignore whether the figure is $30 + $69, or $99 + $20.
    
    both is frowned upon and both will get you busted, also they ignore times as well. so if you spend $40, three times a day because you needed to get random bits, they will still class that as splitting transactions
- aussiedogga on 03/03/2014 - 11:43
  
  Yes, happened to me too. Interestingly also with Bunnings!
- Cluster on 03/03/2014 - 12:29
  
  Are you on the 5% or 2% ING deal? I have on occasion gone to Bunnings a few times during one day and never received a call from ING. It's silly to think a customer is only going to spend $99 once at a store per day, and not return a while later to buy something else.
- gm3stevens on 03/03/2014 - 13:52
  
  I've made 2 transactions at Bunnings on the same day two weeks ago and I didn't get any call from ING. May be it's because the total sum of the 2 transcation is under $100.
AmericanDad on 03/03/2014 - 10:54

Would people who previous opened an account but have since closed it be eligible as new customer?
- AssociatedMEBankScott @ ME Bank on 03/03/2014 - 16:37
  
  Hi AmericanDad (great show by the way), yes, you’re eligible.
  - iSamurai on 03/03/2014 - 19:24
    
    But why not for customers who hold an account currently?
Jared17 on 03/03/2014 - 10:54

An I still eligible for this if I previously opened an account with them but closed it already before 2nd march 2014?
- webtherapist on 03/03/2014 - 11:01
  
  I think so, give it a try anyway ;)
- AssociatedMEBankScott @ ME Bank on 03/03/2014 - 16:38
  
  Hi Jared17, you’re eligible.
lusicul on 03/03/2014 - 10:59

Ugh….been wanting to close my account for a while but kept putting it off due to laziness :(

Edit: I've just realised that my account has actually been closed ages ago, ho ho ho :)
ethereal88 on 03/03/2014 - 11:16

-3

Thing is, everywhere I go its all Comm Bank, the most ATM's, the most branches, and I haven't seen any bank beat Netbank. And in the end, 5% is a piffling amount too. You'll need to offer a lot more.
- retiredfeline on 03/03/2014 - 11:20
  
  You can use Westpac, St.George, Bank of Melbourne and BankSA ATMs, and also Woolies checkouts for cash out, I've never had a problem finding an ATM. Anyway Paywave/pass takes care of a lot of purchases now. Also tell those people who are enjoying 5% with ING it's piffling. :P
- c64 on 03/03/2014 - 13:22
  
  netbank sucks. they've made it too complicated. you can't even hit the friggin back button without it popping up an error message. sometimes simpler is better
- AssociatedMEBankScott @ ME Bank on 03/03/2014 - 16:39
  
  Hi etheral88, as greenpossum points out below, you can withdraw money from our EveryDay Transaction Account for free at any Westpac, Bank of Melbourne, StGeorge, BankSA or ME Bank ATM. Otherwise, thanks for the feedback, we'll pass it on.
raging on 03/03/2014 - 11:26

"The 5% cash back offer will not apply to ATM transactions, payments pressing ‘Savings’, ‘Cheque’ or ‘Credit’, BPAY®, PayAnyone, Phone or Internet Banking, direct debits or credits, cheque or Bank@Post transactions."

Can anyone comment on how this differs to ING?
- retiredfeline on 03/03/2014 - 11:27
  
  No difference. 5% is only for using Paywave/pass too with ING.
- spendinghacker on 03/03/2014 - 12:37
  
  Same thing with ING Direct. They only pay for PayWave transactions. If you stick your card in the slot and put in your PIN you will NOT get paid.
11112007 on 03/03/2014 - 11:41

One of the easiest bank accounts to register and verify.

Took me 3 minutes to complete!
- AssociatedMEBankScott @ ME Bank on 03/03/2014 - 16:39
  
  Thanks for that crazycs - we've put a lot of effort into making our processes easier to use. I'll pass on the feedback. :)
suicine94 on 03/03/2014 - 12:01 Comment score below threshold.
- andyman1908 on 03/03/2014 - 12:04
  
  +3
  
  What the? Its the same thing I'm pretty sure.
- retiredfeline on 03/03/2014 - 12:06
  
  Huh? It's exactly the same hardware and technology. There's no problem with letting the ING card touch the reader. It only has to be within range.
- zhenjie on 03/03/2014 - 12:17
  
  +2
  
  I'm in the same position. I hate how the Terms and Conditions say you had to be 2mm away from any physical contact with the reader or else the rebate is invalid :(
- c64 on 03/03/2014 - 12:22
  
  suicine94 was attempting humour
- muncan on 03/03/2014 - 12:45
  
  It's true, the second you make contact; all rebates are null and void.
  And by true, I mean trololol.
  - suicine94 on 03/03/2014 - 15:47
    
    No if you look at ing they say clearly contactless transaction.
    - retiredfeline on 03/03/2014 - 16:00
      
      Contact means electrical contact, i.e. connecting to the chip on your card via the gold pads, or magnetic contact, i.e. swiping the card.
    - muncan on 03/03/2014 - 16:28
      
      Vsauce claims You Can't Touch Anything
      
      Ergo, everything is contactless.
      
      Q.E.D.
- AssociatedMEBankScott @ ME Bank on 03/03/2014 - 16:58
  
  +3
  
  Interesting points suicine94 - we considered licensing and changing to words to U Can't Touch This to 'U Can Touch This' but representatives of Mr Hammer were unresponsive.
Windows7forever on 03/03/2014 - 12:03

+1

Hey Scott,
I had an ME Savings Account last year but closed it around 6 months ago.
Am I still eligible?
- AssociatedMEBankScott @ ME Bank on 03/03/2014 - 16:40
  
  +1
  
  Hey wolfenator87, you’re eligible. It’d be great to have you back :)
Sweet3st on 03/03/2014 - 12:41
Some advice please from those of you using ING Paywave :)

If you had the 5% and it expired, are you now on 2% by default? Or do you need to take some action?

Can you still get the 5% for 6 months by referring a new account? Or has that ended?

I still have my ME Bank account which I never use so will close now, and have a go at reapplying.
- YadaYadaYada on 03/03/2014 - 12:46
  
  I think you have to deposit 2K a month to get the 2%. I had it for a while, and then if I didn't deposit 2K the month prior, there would be no cashback. It is ongoing as far as I know, but you need to meet the minimum deposit requirements. I think you may be able to take it out straight after, but double check to be sure.
  - spendinghacker on 03/03/2014 - 14:32
    
    I think you may be able to take it out straight after, but double check to be sure
    
    Correct. You can. I have had someone test that for me. (I am still on the 5% on mine)
- c64 on 03/03/2014 - 12:55
  
  you can check your current rebate status using online banking under the offers section
Trishool on 03/03/2014 - 13:20

-1

Strange how MEBankScott posted the deal but doesnt want to respond to any comments or questions on this. Poor form imo.
- danb on 03/03/2014 - 14:19
  
  +2
  
  He is a busy man with everyone rushing to sign up!
  
  In saying that, i am with ME bank and they are quite good

This was posted 10 years 8 months 18 days ago, and might be an out-dated deal.

ME Bank EveryDay Transaction Account - 5% PayPass Cashback Offer for 6 Months

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