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“Online Banking Security Ridiculously Difficult!”

written by on 18/10/2013

Opened a NetSaver account because the interest rate was good. Unfortunately you can only take your money out in one way - by nominating a single bank account. They tell you that "you can easily change your nominated account online" which is true; what they don't tell you -ANYWHERE - is that when you do change to another nominated account you have to telephone them EVERY TIME you want to withdraw your own money, that's every time for ninety, yes 90 days. For whatever amount, large or small. They don't tell you this in writing or on screen because, they say, that would let them know that they have this brilliant security measure in place. So, last time I wanted to transfer my money I had to phone them, and the previous time, and today, and the next time... To add insult to injury they're not a 24 hour service so woe betide you if you want to transfer money after "working hours". Oh yes, and it still takes at least one "working day" to process the transfer after your phone call!!! This is the 21st century folks.