Bank warning
Just a warning, if anyone has a reverse mortgage (seniors saving account) with St George taken out before the takeover by Westpac, the reply if you try to draw down on this account is "we do not support these accounts anymore".
So you cannot borrow against the account, which was a surprise when I needed a new vehicle.
If you have one of these accounts the bank will still charge you monthly fees even though you cannot use it and you have received no notice of the fact.
Luckily I was able to close the account.
Do not wait until you need money, check now to see if your contract is still valid.
:))
I didn't know St. George had been taken over by Westpac.
I have a small retirement cheque account with St. George and was surprised to receive a note from them telling me the interest rate on that account is now 0.25% per annum.
Generous to retirees and pensioners aren't they?