Hi All
Thought I should bring something to your attention. A few months ago I discovered that my offset account had been mysteriously unlinked from one of my loans, effectively offsetting thin air. Please note that the last change I had made to any of my accounts was 4 months earlier so there is no possibility of a mix up. While this is bad, I should note that this is the 2ND time this has happened to me in the space of 3 years with the same bank. When I lodged a complaint with Westpac they propmptly "launched an "investigation", which came back showing a "computer glitch". yeah right....
After this time, I alerted a number of friends to this situation and advised them to check their accounts. Over the last 3 months I have had 4 friends come back with the same issue. One told me he'd had this occur twice with ANZ which prompted him to change banks.....and yesterday he tells me it happened again...this time with NAB!!! Coincidence? I think perhaps not.
Originally I thought i may have just been unlucky, but given the results here, i'd be very interested to find out if anyone else has come accross this issue?
Either way, I'd strongly recommend you check with your bank. Imagine how much money the banks are effectively stealing if only 1% of their customers had offset acc's unlinked. In my experience so far, it's a lot more than 1%!! If enough people respond with the same issue I'm happy to take this to the FOS on behalf of everyone.
Thought I should bring something to your attention. A few months ago I discovered that my offset account had been mysteriously unlinked from one of my loans, effectively offsetting thin air. Please note that the last change I had made to any of my accounts was 4 months earlier so there is no possibility of a mix up. While this is bad, I should note that this is the 2ND time this has happened to me in the space of 3 years with the same bank. When I lodged a complaint with Westpac they propmptly "launched an "investigation", which came back showing a "computer glitch". yeah right....
After this time, I alerted a number of friends to this situation and advised them to check their accounts. Over the last 3 months I have had 4 friends come back with the same issue. One told me he'd had this occur twice with ANZ which prompted him to change banks.....and yesterday he tells me it happened again...this time with NAB!!! Coincidence? I think perhaps not.
Originally I thought i may have just been unlucky, but given the results here, i'd be very interested to find out if anyone else has come accross this issue?
Either way, I'd strongly recommend you check with your bank. Imagine how much money the banks are effectively stealing if only 1% of their customers had offset acc's unlinked. In my experience so far, it's a lot more than 1%!! If enough people respond with the same issue I'm happy to take this to the FOS on behalf of everyone.
i told them if i didnt get a copy within 24 hours i'd be ringing the FOS. They ended up sending a grainy screen shot which was barely legible. I would've had to plug every number into a speadsheet guessing at some figures or ringing for clarification. In the end i just coudln't be bothered. Minimum 20 phone calls going through the auto prompts then explaining the situation to a new person each time + official complaints lodged with no call backs, etc etc, i'd just had enough. I ended up getting a refund on my annual premier advantage package ($395) after i walked down to the branch and demanded to speak to the branch manager when no result after all the phone calls and complaints.
