Originally Posted by aussieplat
Currently dealing with Amex in Australia - membership home loan. I decided to refinance.
I felt I was being shafted by Westpac.
This is done through AMP - they also issue co-branded AMEX cards.
I would be delighted to hear some advice if anyone dealt with this issue before.
Will report back my experiences.
As promised, here are my experiences (so far) - dealing with AMP Banking - Cardmember Home Loans.
I decided to refinance. The first stage was to contact a number (can be found in Gold (Credit) Card section of Amex Australia website. Gentleman on the phone takes some details, connects to AMP Banking relationship manager. After that, all is done via email.
AMP relationship manager was very prompt and was able to answer all of my questions. I also transferred my home insurance to AMP (directly debited to AMEX), which is same as Westpac. Car insurance with AMP (actually done through GIO) is NOT competitive. However, there may be a package coming up in May this year where I may be able to use AMEX card for car insurance.
Home loan package - interest rate lower than standard AMP home loan rate (0.5-0.65% lower depending on amount borrowed). Also no fees whatsoever. The only fee is conveyancing fee and/or lawyer fee (whichever applies). AMP will charge you no fee for this. There are no account maintenance fees and you can access ATMs with no fees whatsoever. Deposits are done at Australia Post (no fees). Chequing facility on home loan account - free of charge. Note this is very hard to find in Australia these days.
I would recommend this package to Cardmembers in Australia wishing to refinance or purchase a property.