Bank of Melbourne

Ratings

4

Overview

The Bank of Melbourne was founded in July 1989 and was listed on the Australian Securities Exchange on July 13, 1989. The Bank of Melbourne is the most prominent leading bank, with 212 branches throughout the country. The bank offers trading and service account facilities, including loans, advances and lines of credit. They provide interest rates of 9.6% on investments and 11.6% on deposits.

  • Bank Type

    Public Bank

  • Founded

    1989

  • Headquarters

    --

  • Industry

    --

  • Formerly/Predecessor

    --

  • Subsidiaries

    Westpac

Need Home Loan Assistance?

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Pros & Cons-Bank of Melbourne

Pros

  • Strict lending policies.
  • Signup Fees.
  • Strict Age Restrictions.
  • Customer Support.

Cons

  • High Property Value for First Home Buyers.
  • Home Loan for Self-Employed.

About Bank of Melbourne 

Bank of Melbourne is an Australian financial bank based in Victoria. The bank started its operations as the RESI Statewide Building Society. It was granted its license on July 13, 1989, and was acquired by Westpac Banking Corporation in 1997. Westpac Corporation restored the brand in 2011 after revamping its acquisition of Bank St George in Melbourne, potentially in reply to its primary product closure.

The institution offers its customers a broad range of personal and business banking products, such as bank accounts, personal loans, home loans, credit cards, superannuation products, investments, and insurance schemes.

Features & Benefits of Bank of Melbourne

The features and benefits of the Bank of Melbourne are listed below:

  • Time-saving: The bank updates your information using Internet Banking. You can also change your email, phone number, and other contact information. 
  • View Transaction History: It keeps track of your transaction records with Internet Banking. The transactions are determined by the summary cycle or the number of transactions you've made during that phase.
  • Preview and Download eStatements: eStatements are electronic slips of your financial accounts. You can view and download these slips using Internet Banking.
  • Ability to Change Payment Limit: Using Internet Banking, you can change your ATM and EFTPOS cash withdrawal limit. 
  • Receive Notifications: You can receive instant SMS, email, or mobile notifications regarding your financial statements, deposits, and money transfers through a registered mobile number and Email ID. Moreover, you can also inform the bank immediately if you recognise any unusual activity on your accounts.

Services Offered by Bank of Melbourne 

Bank of Melbourne provides its customers with various services to ensure the smooth implementation of banking-related operations.

  • Banking via Phone: A telephonic doorway is available 24*7. Customers can use the IVR (Interactive Voice Response) system or communicate directly with one of the bank's executives by dialling the bank.
  • Mobile Banking: With the help of a mobile application, users can manage their accounting statements at any time and from any place. They can check their bank statements or make a payment while working. 
  • Internet Banking: Internet banking service connects clients to digital banking round the clock. Banking information, bank deposit details, online instructions, queries, money transfers, and other fees can be completed from the comfort of your home or office.
  • Electronic funds transfer at point of sale (EFTPOS): EFTPOS is an electronic payment system that involves transferring funds electronically depending on the usage of card payments, like debit or credit cards.

Types of Accounts in the Bank of Melbourne 

Bank of Melbourne provides a wide range of banking and savings accounts, from everyday financial transactions to corporate bank deposits. The three primary types of bank accounts are:

  • Everyday
  • Savings 
  • Term Deposit

Bank of Melbourne Opening Hours 

The table below shows the Bank of Melbourne's opening and closing hours:

Working Day Opening and Closing Hours
Monday 9:30 am to 5:00 pm
Tuesday 9:30 am to 5:00 pm
Wednesday 9:30 am to 5:00 pm
Thursday 9:30 am to 5:00 pm
Friday 9:30 am to 5:00 pm
Saturday 9:30 am to 1:00 pm
Sunday Closed 
 

Bank of Melbourne Contact Details / Customer Service

Customers with banking and service-related queries should contact their relationship manager or the Bank of Melbourne’s customer care number on 13 22 66 for personal banking enquiries ( Monday-Saturday, 8 am to 8 pm.)  or 13 82 66 for business banking (Monday-Friday, 8 am to 6 pm.)

For overseas customers: +61 3 8536 7870. 

Frequently Asked Questions

How Good is the Bank of Melbourne?

Bank of Melbourne is an excellent option to opt for because it takes care of its     requires customer details and confidential data very sincerely.

Who owns the Bank of Melbourne?

Bank of Melbourne is a subsidiary of Westpac Corporation.

How do I contact the Bank of Melbourne?

For more banking-related information or concerns, customers can call on 138266 or speak with their relationship manager.

How much cash can I withdraw Bank of Melbourne?

You can withdraw up to $2000 from the Bank of Melbourne.

Does the Bank of Melbourne charge ATM fees?

No, Bank of Melbourne ATM doesn’t charge any fee to view account balances or cash withdrawals.

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