ME Bank Everyday Transaction Account ATM Fees Rebate

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ME Bank

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  Tal_Shiar on 12/08/2015 - 19:56

  A lot of effort involved for little gain…

  • 

    tqf8h on 12/08/2015 - 20:00

    Personally, for opening an ME Bank transaction account i think one of the $50 referral bonuses from ME bank are better value. I already have the ING Direct accounts for ATM rebates anyway.

• 

  PissLUR on 12/08/2015 - 20:11

  +5

  within 30 days? LOL..

  Its instant @ ING Direct

  • 

    chill on 12/08/2015 - 23:22

    I agree, but you can see why they do it.

    By using the 'partner' atms ME are saving money so they use the stick and the carrot approach so customers still think before they withdraw unlike ING customers who are refunded instantly.

    So theoretically the offer should be more sustainable than ING, but then ME aren’t fair game anyway with no 2% cashback and this being only for new customers.

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  CandyMan on 12/08/2015 - 20:48

  Receive free access to ME ATMs and our preferred ATM network of Westpac, St.George, BankSA and Bank of Melbourne ATMs

  Free access only to those ATM's? ATM access has been free on that network for a long time for ME customers!

  • 

    tqf8h on 12/08/2015 - 21:03

    +1

    I think it means you won't get charged a fee if you use the Westpac group atms, but with the other atms, you will initially get charged an atm fee, which is then rebated within 30 days.

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  coprocessor8087 on 12/08/2015 - 21:05

  With paywave and visa/master debit, credit card etc, most people rarely need to get cash from ATM more than a few times a week. This is the 'cheapest' promotion on the market. It is so insignificant. Those bring up this idea should get fired.

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  DeafMutePretender on 12/08/2015 - 23:21

  +2

  ING: 5% rebate 6 months, 2% the rest.
  ME: 5% rebate 6 months, 0% the rest.

  ING: 5% rebate shows up a few days later. You can also view the pending transaction beforehand.
  ME: 5% shows up every Friday as a lump sum. The pending transaction is basically invisible beforehand.

  ING: 3.5% interest.
  ME: 3.2% interest.

  ING: 0.50c rebate if you cash out $200+.
  ME: None.

  ING: Permanent ATM rebate.
  ME: 1 month "promo" lol! As if you need to withdraw that often anyway. I'm struggling to imagine a case where you can take properly take advantage of this offer. Maybe if you're going on a 1 month prostitute binge before marriage?

  Come on, put some effort into it, Marketing Guy. Australia's banks are the most profitable in the world, I'm sure you can find a proper promo that differentiates from the competition.

  • 

    CVonC on 13/08/2015 - 00:05

    +1

    ING: 0.50c rebate if you cash out $200+.

    50c not 0.5c right?

    • 

      DeafMutePretender on 13/08/2015 - 00:07

      +1

      Yeah it's 50 cents.

      If I wrote $0.50 then it would be correct.

      • 

        CVonC on 13/08/2015 - 00:11

        So you can potentially make $2.50 for every 5x$200 withdrawals. I wonder if any ozbargainer can be bothered enough to take advantage of that 0.25% cashback lol

      • 

        DeafMutePretender on 13/08/2015 - 00:23

        +1

        @CVonC:

        There are several risks with that:

        1) You increase the chances of you getting mugged by some random guy who just saw you handling $100 bills.
        2) You increase the chances of ING finding unusual activity in your account and blocks it (if you decide to re-deposit what you just withdrew)
        3) You spend that $1000 on something you don't need. I doubt the average ozBargainer would spend that much, that often. Honestly, the 50 cent rebate is pretty useless for everyone, ozBargainer or filthy richie rich. It's just a nice bonus.

      • 

        CVonC on 13/08/2015 - 00:31

        @DeafMutePretender:

        yep i agree with everything. i hardly use the ATM actually. let alone withdraw $200.

      • 

        PissLUR on 13/08/2015 - 01:13

        +1

        @CVonC:

        there was a forum post of someone doing this for weeks and got her account cancelled or something.

      • 

        CVonC on 13/08/2015 - 01:14

        @PissLUR:

        LOL

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  Jster on 20/10/2015 - 16:44

  Thanks OP, this suits me. I have an ING but I hate the $1,000 deposit requirement. I want all my savings to stay on my mortgage and it's too annoying to transfer amounts in and out each month. Lets hope the rebate continues indefinitely though! It's also worth mentioning I think that ME Bank has a stupid fee if you use Aussie Post to make a cash or cheque deposit, they charge you $2.50. Gotta love a bank that charges you a fee to give them money! Hah!