NAB - More Take, Less Give, Rubbish Service

S

sash

Well ...guess what NAB is back to their old tricky ways.....

They have just damaged their reputation by not passing on the full rate cut. One has to really ask the question why would anyone trust any bank as they continually seem to slither and be slimy! ;)

I have 3 loans with NAB and am seriously thinking of moving away from them. I get 6.6%.....but CBA is now at 6.56%....but their service is much better.:)

The primary reason I want to move is because NAB's service is absolutely shocking....the number of mistakes and follow-up with the monkeys working in this joint is just mind blowing.

Lisa Gray (Head of Retail Banking) needs to move her fat ample **** down to the pleb ranks to see what is happening. :mad:

Anyway rant over.....but seriously need to find another bank worth its salt! I like the CBA but don't want to give them anymore loans to ensure that there is some balance in terms of financiers in my portfolio!

Is it just me or is the NAB service that bad.....would like to hear the feedback before I move!:p
 
Well....where do I start:

1. Their internal valuation process...no independence

2. Circular loan process which is outsourced to India which goes back to sqaure one when there is an issue. India has no decision making power...and most of the bankers at NAB are poorly trained when compared to their peers at the other Big 4.

3. Ineffective complaints process...you have really psuh hard for anything to happen. Sometime they just inform the issue is resolved but it has not. No internal QA processes or follow-up that the issue is actually resolved. CBA is really good at this.

4. F*wit Area Managers who have no authority to get anything done. CBA, Westpac ones have real power.

Some I guess...no one is at the wheel...what happened to Risk Management??? Lisa Gray.....Cameron Cline anyone listening??

Aaron_C said:
What's bad about the service in particular?
Click to expand...
 
1. I've had problems with their valuers before. Usually they are as independent as you can get because they're from their own panel (Valex). A problem with valuation would come from the valuer being incompetent/lazy more than anything else - it's such a crap low-paid job so the calibre of valuers is bad.

2. Agreed the Indian call centre stuff is annoying. No arguments there. But as a broker I mainly deal with my BDM (Blair Turner) who is quite good at following up things and pushing things through credit. It is probably different for NAB Retail.

3. Haven't had a complaint against them so can't comment.

4. See 2.

I actually used to work for NAB in their head office area - I can say that the place is a bit dysfunctional at times. But that's like any other large corporation...lots of people who don't know what they're doing and are just there for the pay-packet to do the minimum required.

Your rate is already pretty good - seems a bit strange to change it just for 0.04%...
 
Not changing for 4 basis points...more that if I take the loans somewhere else with better service. I could possibly get good rates as well as service. ;)

What are chances a few others who are thinking the same way???:D

....and to top it off the shear arrogance of barge **** Lisa Gray ...I note that Cameron Clyne is silent...is he the CEO or what????

http://smh.domain.com.au/real-estate-news/nab-defiant-on-partial-rate-cut-20111103-1mwbx.html

Aaron_C said:
1. I've had problems with their valuers before. Usually they are as independent as you can get because they're from their own panel (Valex). A problem with valuation would come from the valuer being incompetent/lazy more than anything else - it's such a crap low-paid job so the calibre of valuers is bad.

2. Agreed the Indian call centre stuff is annoying. No arguments there. But as a broker I mainly deal with my BDM (Blair Turner) who is quite good at following up things and pushing things through credit. It is probably different for NAB Retail.

3. Haven't had a complaint against them so can't comment.

4. See 2.

I actually used to work for NAB in their head office area - I can say that the place is a bit dysfunctional at times. But that's like any other large corporation...lots of people who don't know what they're doing and are just there for the pay-packet to do the minimum required.

Your rate is already pretty good - seems a bit strange to change it just for 0.04%...
Click to expand...
 
Last edited:
sash said:
Not changing for 4 basis points...more that if I take the loans somewhere else with better service. I could possibly get good rates as well as service. ;)

http://smh.domain.com.au/real-estate-news/nab-defiant-on-partial-rate-cut-20111103-1mwbx.html
Click to expand...

now come on, you of all people know u can have price or service

price or product

Product or service

Ya cant have all 3

Choose and move ( or not) .

In my experience, your frustrations are quite standard for almost all lenders at some time, so I dont know that I would hit my file for a mainly(?) emotional reason, that makes little sense in your otherwise logical business process

ta
rolf
 
Rattling the cages to see if any gold coins fall out. ;)

Rolf Latham said:
now come on, you of all people know u can have price or service

price or product

Product or service

Ya cant have all 3

Choose and move ( or not) .

In my experience, your frustrations are quite standard for almost all lenders at some time, so I dont know that I would hit my file for a mainly(?) emotional reason, that makes little sense in your otherwise logical business process

ta
rolf
Click to expand...
 
Whats worse is that Ubank (a subsidiary of NAB) has cut the interest rate on their savings account by 0.4%!

Their screwing us from both ends, Sash!
 
Aaron Sice said:
their SVR is still lower than the other banks regardless.
Click to expand...

This was my understanding as well. NAB are being "punished" now for being more generous earlier on. If they had not moved lower than the other banks previously, they would not be copping this flak now...

I feel sorry for them, and it sends a clear message to the big 4 not to try to give a better rate than the other banks, cause it will only come back to bite you later on.
 
2/4 of my IP loans is with NAB + my business loan is with NAB also....

Never had any issue with NAB...they are fine for my needs ( maybe i should push and complain more :p )

Regards
Michael
 
Mick C said:
2/4 of my IP loans is with NAB + my business loan is with NAB also....

Never had any issue with NAB...they are fine for my needs ( maybe i should push and complain more :p )

Regards
Michael
Click to expand...

Same here Mick. The only interaction I have with NAB (as a customer) is that they take money out of my account at the end of each month :(
 
:DHmmmm....don't take offence to this but both of you are brokers....

....me thinks NABurgler is paying you too much in terms of trails or you boys are drinking too much coolade..... ;)

Perhaps you need to read the following product reviews

http://www.productreview.com.au/p/nab-national-australia-bank/10.html

Over 40 customer gave it a rating of 1 ....which is the worst rating....some of the commentary is positively hilarious!

They are shiiiiittte.

Get a rope!

Now please don't take offence....I just trying to make a living as a comedian....after the NAB....NABbed extra interest....and became More take, less give.

Rolf Latham said:
now come on, you of all people know u can have price or service

price or product

Product or service

Ya cant have all 3

Choose and move ( or not) .

In my experience, your frustrations are quite standard for almost all lenders at some time, so I dont know that I would hit my file for a mainly(?) emotional reason, that makes little sense in your otherwise logical business process

ta
rolf
Click to expand...

Mick C said:
2/4 of my IP loans is with NAB + my business loan is with NAB also....

Never had any issue with NAB...they are fine for my needs ( maybe i should push and complain more :p )

Regards
Michael
Click to expand...
 
Nab don't pay trail not many brokers use them at al Sash. And before you all say what about Homeside...they are not nab nab. Problem with nab nab in my opinion is it seems a much more political beast that say the CBA. They value business loans a lot more than resi too which is cultural in my opinion ie to rise through the ranks in nab you needed to quickly get promoted out of resi to commercial.

The old bankers must be spewing that a management consultant in his early 40's is running the show too.
 
Actually amoeba to me.......would earn that in about 10min.....but nevertheless....the endless negative publicity for NAB....is priceless! :D

As for NAB.....pretty crap actually....and the Product Review clarifies that!

Let me guess you work for NAB?????

HomePage said:
NAB has been great for me. 0.04%? Chicken feed. Carry on.
Click to expand...
 
Last edited:
sash said:
Let me guess you work for NAB?????
Click to expand...

I guess it sounds like that, but alas no. I worked out a long time ago, the banks are pretty much as crap as each other on the customer service front. When expectations are that low, it's hard to be disappointed. :D
 
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