This ones simple. If you have an existing ANZ online saver account and are currently getting 4.5% interest. Then call them and say - "I am planning to move my savings to ING direct to get there 6% rate - but if I could take advantage of your 5.75% introductory rate I would stay."
Basically a 30s phone call gets you a higher rate of interest without the hassle of opening an account or moving money.
Here is another one from personal experience. If you have a vertigo credit card from stgeorge. Tell them that you need to close it because you don't need it. They will readily wave off the annual fee. You save $55.
I do this every year with all my cards and have never paid for them even the qantas one with the free flight
wow! you are cool.
Yes! Agreed! I'm also an ANZ customer. Apparently if you have over 100k in your bank account, they are meant to waive the account keeping fee. However i was still paying $5 (terrible value) before i called them and told them that the $5 was a waste of money, so put me on the $2 account keeping fee. Anyway it was only when i went into the bank, they waived my account keeping fee. I had to ask also for the extra interest earning account too. It's a few dollars here and there, but it all adds up. Fat banks.
You had over 100K in your ANZ access acount earning 0.01% interest? LOL
Of course not. I had the online saver account already. The intro rate at the time was something around 6% when interest rates were going good
@lily: The online saver doesn't have an account keeping fee.
So, you mean, if you have > $100,000.00 in your online saver, then you shouldn't pay $5 per month for an ANZ Access account?
@modsec802: That's what i was told when I walked into the bank. Perhaps it was just good customer service of them when you see them face to face.
Similarly I was really annoyed with CBA because I had $0 in my account and they continued to charge me account keeping fees until i was something like $30 negative balance. I rang up customer service and told them I haven't used my account, so I don't see why i should be paying a fee for them to do nothing with my account. The person on the phone was quite rude and told me I MUST pay it, else they wouldn't close the account and I will keep getting charged.
I walked into the bank to talk to them face to face. The account fees were wiped off and they closed my account, no questions asked. It's just a hassle to have to find time to make it to the bank.
what's the minimum amounts to do this ??
don't think there is any.
i called last week and spoke to ANZ about earning more interest with my deposite,
atm if u have $5000 and put it in as term deposite for 6 mth u can earn 5.8% interest.
Sign up for UBANK. The interest is higher than this one.
hi guys, just called up to get my 5.75% interest rate and was told that it was only available through the internet. also they said it wasn't possible to add the interest rate to my existing account, i had to open a new account completely. I guess that's no problem since there is no fees but when I explained how it was inconvenient and i would look at changing over to ING, they just said "Thanks for banking with ANZ" and let me go.
actually i had the same experience with regards to anz credit cards….
it's exactly like those snob banks they depict on their TV advertising, how ironic.
it so happens anz is the first bank i did my banking so a lot of transactions go through that… so i'm slowly moving all my transactions away.
thanks guys! I just had my online saver account ticked up to 5.75% =)
not really a bargain but a good tip.
I already moved to Ubank.
ANZ is good service in small local bank.
But the other benefit is quite bad.
said it is only for new customers. tried to reason with the csr, but ended up using my ING to create a new savings account instead. ANZ seriously sucks.
Ubank (=NAB) has been 5.85% (no "bonus" or "introductory" rate, I prefer this) since 19 March.
RBA interest rates went up by 0.25% on 7 April and 0.25% on 5 May. But the banks haven't increased their online savings account rates (don't know about term deposits) for those changes. Is it because of our Four Bank Oligopoly? How come Rabobank, ING, or some credit union can't do better?
The savings rates offered by online accounts are already way above the RBA's rate and reflect the true funding costs that banks bear. RBA rate moves have little bearing here as the 4.5% funding rate is way below the true cost of money.
Commbank will raise rates 0.25% on their equivalent deposit account as of today.
You are all being ripped off, you can get 5.85% from ANZ:
http://www.anz.com/aus/promo/olsdrretarget/default.asp?sourc…
Thanks for the tip, and also to juicedpixels. Though I have a UBank saver so I'll keep my money there.
i tried getting that interest rate on my online account and the csc told me that id have to setup a new online account and the interest rate is not transferable to my existing account!! how come there are soooo many inconsistancies??
i think it just depends on the CSR you get. I got it by calling the new account number (1800505232) and then getting transferred.
Just called up, the lady gave me 5.75% on my current online saver account. Happy about this. Good find
How long does the interest rate stay for?
30-09-2010
Very good tips, I just rang them and got transferred to customer retention department. After that they just got my interest cranked to 5.75%
Save me the hassle of moving to another bank.
I too rang them and got transferred to customer retention department.
After that they just got my interest cranked to 5.75%.
Note that this is only till 30/09.
Better than 4.7%
I was not so lucky and I they said this is only for new customers and I asked them about their term deposits and it's still lower than ING or Ubank. I guess I will be switching to ING soon.
I told them this and they said this is really my decision. A bit surprised and disappointed as I expected them to keep me as a happy customer.
With the ones you guys are referring to here, are these online savers with ING or Ubank or term deposits?
dont worry they will probably offer once you close it :D
anyone know how much you need to deposit with anz to become a private anz bank customer so that you can get the annual fee waived on their FF platinum credit card? ive never been able to persuade anz to have the annual fee waived on their credit cards and end up closing it has anyone been sucessful?
I got my ANZ Gold Visa annual fee waived two years in a row (about 4 years ago), but since then they won't waive it anymore.
Just signed up for the 5.85% account Online with the link from juicedpixels.
Since i already had an online saver, apparently this will add a second one to my account, and i can delete the other one later.. seems easy enough.
Question for anyone with an ANZ + Ubank combination going: Is the money you transfer to and from instantly accessible?
I like to move money from my Online Saver to my debit card as I need it, wondering if that's possible with this setup.
Thanks.
The funds are not instantly accessible between banks. From memory Ubank advises on their transfer page that it should be in your account the next business day.
Still pretty good, just need to plan your affairs well and stay on top of your direct debits which a lot of people seem to overlook.
another fine example of honouring company disloyalty… where they should reward loyal customers by giving them the interest without having to call up.