RaboDirect - would you use it?

Related Stores

Rabobank

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  CyberMurning on 31/10/2012 - 11:11

  they have small device where shows up random number you need to have to log in / transfer etc.
  can buy/sell managed funds directly from 1 window, if you are into investment.
  so far so good for me.
  are you saying their interest better than ubank now?

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    mustkill on 31/10/2012 - 11:19

    hmm okay. 5.46% vs 5.16. yes its better

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      CyberMurning on 31/10/2012 - 11:34

      ah, that 5.46 for new customer only. i cant get it. for my case, i got 5.16 ubank, 4.30 rabo.
      ubank better for me.
      edit: saw that bonus also applied to existing - just for "new money"

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  roddiw on 31/10/2012 - 11:37

  I've been with them for over a year with no problems.
  When they do a promotional deal for new customers - eg. extra interest for 6 months - they also make it available to existing customers for new deposits, which is good.
  But to maximise this, I switch all my money from ubank to rabo when a deal starts, so all my money gets the bonus rate.
  When the deal ends, my entire balance goes back to ubank.

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    CyberMurning on 31/10/2012 - 12:09

    u know when the that new deposit thingy started?

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      nickj on 31/10/2012 - 14:55

      A while back, maybe end of 2010? I got caught once, didn't move my cash after the promo rate ended, and then when the next one started, I wasn't eligible - so lesson learned: With Rabo, you always want to move everything out when the promo period ends. In ballpark terms, it's typically a month or two between promo periods, and each promo usually lasts around 3 to 4 months.

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    ssmith3104 on 01/11/2012 - 12:05

    Good plan, if you have the time to monitor it and switch the money around. Another problem is that your rate at UBank will be lowered for the month in which you make a withdrawl, to send funds to RABO.

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  xyron on 31/10/2012 - 11:52

  for the sake of half a percent, id rather stick with the australian-owned and based bank (UBank). and this is so even with ~$100,000 of liquid savings.

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    mustkill on 31/10/2012 - 11:55

    Rabo is one of the safest apparently =/

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  mskeggs on 31/10/2012 - 12:20

  Rabo is a massive bank in Holland. Deposits here are also protected by the AU government bank guarantee up to $250,000.
  http://www.apra.gov.au/CrossIndustry/FCS/Pages/default.aspx
  and
  http://www.apra.gov.au/adi/pages/adilist.aspx

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  tonester on 31/10/2012 - 17:08

  +1

  Is it safe?

  the safest

  Reliable?

  the most reliable

  Do they have a lot of muckups?

  no

  yes, rabo is the best and i use them :)

  http://forums.whirlpool.net.au/forum-replies.cfm?t=1453587

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  ssmith3104 on 01/11/2012 - 12:02

  +1

  I have accounts with both Rabo Direct and UBank. Both are excellent and the two of them are almost always market leaders for on-line savings accounts best rates.

  The device that RABO require you to use to generate authentication codes, is no doubt highly secure, but, slows you down in the banking (don't try logging on at 5:26pm and expect to finish before their 5:30pm cut-off time). Having to use the device also is a hassle if you contemplate mobile banking, having to carry an annoying device with you.

  RABO and UBank are both highly secure.

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  scotty on 07/12/2012 - 14:18

  Just got an email from RaboDirect:

  As you probably know, on 4 December 2012, the Reserve Bank of Australia (RBA) dropped the official cash rate. And although it's not what you want to hear, we're dropping our standard variable rates by 0.30%.

  Yeah, 0.3% is a bit more than the interest rate cut from the RBA. So their new standard variable rate for savings under $250k is 4.0%.

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  c64 on 11/12/2012 - 11:45

  rabodirect seems pretty good so far

  also, mebank has a competitive rate for their online savings account - 5.1%. introductory bonus period is 12 months. https://www.mebank.com.au/rates_and_fees/savings_accounts.ht…