The real problem for Tic:Toc is that there are now plenty of other FinTech/neo-bank/low rate vendors out there who can compete on rates but smash Tic:Toc on the basics of customer service. Being a neo-bank doesn't exempt you from the basics of customer service: 1. Like I said, I feel like my expectations were set appropriately low based on the low rates offered, but there is no excuse for such poor customer service. Because of that I'd recommend you avoid, you can do better elsewhere. Settlement dragged far longer than it should have, required far too much chasing up by me and far too much pointing out obvious contradictions and falsehoods that each customer service rep I talked to tried to pull off assuming I was an idiot. It really felt like I was getting told whatever they thought would get me to hang up, rather than the reality of the situation. They refused to engage with UBank, provided zero proactive communication to me about what issues were being experienced, and everytime I was eventually able to contact them (which is a battle, despite the number of communication channels they allegedly offer) I kept getting different stories about what the issues were, to the point that the only explanation I can come up with is flat out dishonesty. Come settlement, wow did Tic:Toc show their true colours. Compared to our experience with Tic:Toc the UBank homeloan application process was a breeze, couldn't fault it. The issues came about when at the end of the loan and we went to refinance with a lower rate vendor (UBank). Most annoying was the very slow timeframes to transfer money to other bank accounts, 3 days is the average which is very 20th century. The actual features provided by Tic:Toc account portal are pretty minimal, but you are paying a low rate so that is fair enough. The low rate kept me, but it was one of the most convoluted and mandraulic processes to get loan approval, far worse than other lenders I've used, even among the big four.Įventually I got loan approval and switched over. I've had a homeloan with Tic:Toc for 3 years, and starting with the homeloan application process, the promise of quick and easy loan approvals via the wonders of FinTech didn't eventuate, despite me having one of the most basic applications that could be processed (simple refinance, less than 80% LVR, dual PAYG full time income, single transaction account, one credit card). Given the low rates I can handle the lack of features, what I can't handle is the extremely poor and dishonest customer service. You can easily change the sort order of the products displayed on the page. 'Mozo sort order' refers to the initial sort order and is not intended in any way to imply that particular products are better than others. 'Sponsored', 'Hot deal' and 'Featured Product' labels denote products where the provider has paid to advertise more prominently. We are proud of the tools and information we provide and unlike some other comparison sites, we also include the option to search all the products in our database, regardless of whether we have a commercial relationship with the providers of those products or not. You do not pay any extra for using our service. As a marketplace business, we do earn money from advertising and this page features products with Go To Site links and/or other paid links where the provider pays us a fee if you go to their site from ours, or you take out a product with them. Our goal at Mozo is to help you make smart financial decisions and our award-winning comparison tools and services are provided free of charge. Disclaimer Who we are and how we get paid
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