Is ME Bank owned by Westpac?
In 2021, ME became part of the Bank of Queensland Group (BOQ), giving ME a wider network and deeper resources to invest back into services, technology and products for our customers.
Who used to own ME Bank?
industry super funds
In 2002, AXA withdrew from the joint venture, and Members Equity Bank became 100% owned by industry super funds.
Is ME Bank listed on the ASX?
Bank of Queensland Limited (ASX: BOQ) has finalised what its chair describes as a “defining moment” for the bank today, as Members Equity Bank (ME Bank) is welcomed into its faction.
How long does ME Bank take to transfer?
No problem – it’s easy to get it done using internet banking, the mobile app or a Direct Credit Request. Remember that transfers between banks can take up to 3 business days depending on when the transfer is made – it can take a little longer when transfers are made late in the day, on weekends and public holidays.
Is ME Bank backed by the government?
Your savings with ME are protected by a deposit guarantee from the Australian Government. This is further supported by ME’s strong financial position, corporate governance frameworks and our Bank of Queensland Group (BOQ) backing.
HAS ME Bank been sold?
ME Bank has officially become part of the BOQ Group following completion of the $1.32-billion deal. The $1.32-billion acquisition (funded by an underwritten capital raising of $1.35 billion) was approved by the federal Treasurer in June, and has today (1 July) completed.
Is ME Bank guaranteed by the government?
Does ME Bank have instant transfer?
You can instantly transfer as much as you like between your own ME accounts. For Online Savings Accounts, you can transfer to just the linked nominated account. If you need to make a transfer to an external non-ME bank account, check out our pay anyone help article.
Why is ME Bank being sold?
“The motivation of the board in recommending a sale of ME Bank to the shareholders was based on an assessment of the future strategic and financial value of ME in a competitive banking market, where ME is only the 10th largest bank,” he said.
Is BOQ same as ME Bank?
Although ME Bank is now at system, BoQ and Virgin Money have been growing at 1.6 times system growth in the competitive mortgage market. Mr Frazis said while housing market growth will cool as interest rates rise, it will take a number of rate increases before volumes of sales start to fall.
Why did BOQ acquire ME Bank?
“The acquisition of ME Bank is strategically aligned and financially compelling. It further strengthens our multibrand strategy, delivers material scale, provides portfolio diversification and enables the acceleration of the digital strategy towards a common digital retail bank technology platform.”
Can I do an OSKO payment with me bank?
ME customers are currently unable to receive PayID payments from financial institutions that use OSKO-only payments. In this instance, ME customers can instead be paid via their BSB and account number.
Does me bank use OSKO?
We’re also working hard to deliver further New Payments Platform features. Soon, customers will be able to: Send and receive Osko fast payments to and from participating financial institutions.
Did Bank of Queensland BUY ME Bank?
BOQ completes acqusition of ME Bank Bank of Queensland Limited (BOQ) is pleased to confirm that it has today completed the acquisition of Members Equity Bank Limited (ACN 070 887 679) (ME Bank) for cash consideration of $1.325bn.
Does meme Bank have branches in Australia?
ME Bank no longer has branches in Sydney, Brisbane, Adelaide, Perth, Hobart, Canberra and Darwin MEBank branchless. It became a subsidiary of Bank of Queensland in July 2021.
What does me bank offer?
Initially founded to offer access to home loan products, ME Bank today offers a range of low-cost banking products including home loans, savings accounts, credit cards, term deposits, and transaction accounts. ME Bank was acquired by Bank of Queensland in February 2021.
What is ME Bank called now?
ME Bank, also known as ME, is an Australian direct bank based in Melbourne. ME Bank no longer has branches in Sydney, Brisbane, Adelaide, Perth, Hobart, Canberra and Darwin MEBank branchless. It became a subsidiary of Bank of Queensland in July 2021.
Is Me bank owned by UniSuper?
In July 2021, the 26 industry superannuation funds that owned ME Bank, including AustralianSuper, UniSuper, Cbus, HESTA and Hostplus sold the bank to Bank of Queensland for A$ 1.325 billion. ME Bank was acquired by Bank of Queensland in July 2021.