Melbourne has a fierce new competitor in the realm of financial institutions. Bank of Melbourne is gearing up for a phenomenal launch. Focused on providing Victorians with outstanding customer service that doesn’t stop with recommendations for a great bite to eat or where to go for the best coffee fix in town.
Bank of Melbourne Credit Card Offer
Bank of Melbourne have launched this leading low rate and balance transfer offer into the market. The card also features a low annual fee and up to 55 days interest free on purchases.
- $55 p.a. annual fee
- 1% p.a. for 12 months (reverts to 13.24% p.a.) on purchases
- 0% p.a. for 18 months on balance transfers
- Cash Advance Rate of 21.49% p.a.
- Up to 55 days interest free
What is different about the new Melbourne-based bank?
Nothing out of the ordinary when you go by their website. The bank offers a range of standard financial tools and services. Customers will be able to enjoy a range of banking services as outlined in the bullets below…
Personal banking services:
Business banking services:
- Transaction accounts
- Savings accounts
- Payment solutions
- Business toolbox
- Super & insurance
Corporate banking services:
- Business solutions
- Transactional banking
- Foreign exchange
- Financial markets
- Industry specialists
A bank that promises to listen to its customers
On their about page the Bank of Melbourne claim to be dedicated to their consumers’ needs. Their aim is to turn the bank into a “conversation.” I like the idea of walking into my local branch and having a friendly chat with the branch staff. I’m lucky enough to be able to do this because where I live the world is still considered rural enough.
Back to the future
Melbourne is a big city in anyone’s standard. Creating a friendly and welcoming place where locals can do their banking in confidence is certainly a challenge – especially when banks are moving away from providing one-on-one customer service as is the case with many online-based banks these days.
Where can you bank with Bank of Melbourne?
Bank of Melbourne has several branches in and around the city of Melbourne:
- Forrest Hill
- Point Cook
- Melbourne Central
There are many more branches, so check their website to find the closest to you.
A local bank for locals
Dedicated to employing locals, the Bank of Melbourne concept has been born out of a genuine concern for the local community. Locally-made decisions at executive levels will ensure that the needs of its local customer base are taken care of in the right manner.
The same applies to the call centre. Staffed and manned locally they encourage you to chat about the latest Rugby results or your favourite hangout in the city (OK, I admit I’m getting carried away here, but I do like the idea of small talk while I’m speaking with my bank on the phone.
An innovative concept
CEO Scott Tanner made a great statement when he mentioned that the bank’s customers will be rewarded for banking with Bank of Melbourne. This means that the more financial services and products you utilise with the bank, the cheaper your home loan interest rate (the standard variable interest rate) could become – this is called the Advantage package.
This is something close to my heart because our bank doesn’t do this at all, despite the fact that we bank with them for private, mortgage, business and investment reasons. You’d think that customer loyalty is rewarded by a giant that makes billions of profits each year. Sadly it isn’t.
The whole shebang
Bank of Melbourne offers its customers the whole shebang of banking tools. You can choose from:
- Branch banking
- Phone banking
- Internet banking
- Mobile banking
*SMS alerts are charged at $0.25 per SMS
Type of Alerts you can choose:
|Alert type||Useful for|
|Balance Alerts||Manage your everyday banking. Get the available balance on your nominated account at the beginning of the day.|
|Withdrawal or Authorisation Alerts||Choose the withdrawal alert to enjoy peace of mind knowing your direct debits or loan repayments have been made. Choose the authorisation alert to keep a step ahead of fraudsters. Be notified of each new credit or debit card authorisation.|
|Deposit alerts||Keep track of your salary payment or other direct credits.|
|High Balance alerts||Don’t max out your credit card. Be informed when your balance reaches a pre-determined limit.|
|Low balance alerts||Avoid overdrawing your account. Receive alerts when your balance reaches a pre-determined limit.|
You can monitor your account activity 24/7 with Bank of Melbourne. Whether you’re at home, at work or travelling to some exotic locations. As long as you have internet or phone reception and your mobile has international roaming you will be able to manage your account on the go.
Share Trading with Bank of Melbourne and directshares
If you’re investing in securities you can also take advantage of Bank of Melbourne’s online share trading service ‘directshares’.
A range of credit cards to manage your finances
The Bank of Melbourne offers a number of credit cards that can help you simplify business and the handling of purchases at home and on the go – provided you treat your card responsibly. As a savvy consumer you already know this, right?
Below is an overview of some of these cards and why they could be a match for you.
Business Vantage Visa
Business is more fun with the Business Vantage Visa Credit Card. The card offers the standard 55 days interest free shopping provided your statement is paid in full each month and a very reasonable yearly fee of $55.
In addition you get to enjoy a range of security and card management features. If you want to learn more about this card click here now.
Credit card expense management has just become easier
If you apply for or already own the Corporate MasterCard you will like the fact that you can manage your expenses and your account online with the bank’s easy-to-use connections online suite.
A balance transfer card with heart
In a time when most Australians are worried about global financial issues and other increasing expenses it’s always nice to see a tool like the new Bank of Melbourne Vertigo Visa.
Learn more here about the Bank of Melbourne Vertigo Visa.
The Bank of Melbourne Business ToolBox gives you the edge. Groovy products like the Business Benchmarker and the Business Mentor Program tap deep into the operations of doing business. You get access to a range of online tools that intend to simplify the way you do business.
There is also a way to network with like-minded people via a two day intensive workshop.
Who’s behind Bank of Melbourne?
The Bank of Melbourne is a division of Westpac
The best way forward for you is to go and visit one of their branches in and around Melbourne, or better yet, bet there at the launch party on Monday.