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ME Bank going offline to refresh online banking this weekend

Posted: 21 October 2016 7:36 am
ME Bank

There are also some changes to term deposit interest rates.

This weekend, ME Bank will swap out its current online banking portal for a new, simpler design and format.

The overhaul will take place overnight, from 11pm Saturday 22 October until 10am Sunday 23 October (AEDST). During this time customers won't be able to log in to Internet banking, use phone banking facilities or the mobile app.

This also means users can't check their account balances, make transfers or online payments. However, purchases can still be made using debit and credit cards and customers will be able to withdraw cash from ATMs as long as they have available funds in the relevant accounts.

Once the new internet banking site is launched, customers will be again able to login from the ME home page as before. Mobile app users will be asked to update to the newest version when they attempt to login on their phones. Phone banking won’t change at all.

As part of the changes, mobile customers will only need to use one button for all internal transfers and will have the ability to cancel future payments easily. There's also additional app support provided for the new Android operating system.

Saved payees, BPAY billers and all account settings will be moved across to the new format.

All current features will still be available and if you're experiencing any difficulties, ME bank's new video series features an array of Internet banking tips and tricks.

ME Bank has also increased some of its term deposit interest rates and its personal loan fixed rate (see below). These changes are in effect now.

ProductCurrent RateChangeNew Rate
Personal Loan Fixed Rate11.99%0.50%12.49%
Retail Term Deposit - 6 Month3.00%0.10%3.10%
Retail Term Deposit - 9 Month2.50%0.50%3.00%
Business Term Deposit - 6 Month3.00%0.10%3.10%
Business Term Deposit - 9 Month2.50%0.50%3.00%

The landscape of mobile banking is rapidly changing with the advent of fintech. For example, in 2017 Australians will be able to make payments in near real-time, 24/7.

Put more money in your pocket by comparing leading rates, fees and charges, bonus interest and savings incentives using finder.com.au's helpful and insightful banking comparison guide.

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