The Australian Financial Complaints Authority has activated its significant event response plan following a change to a redraw feature on one of ME Bank’s home loan products. The significant event response plan is activated for events that can potentially result in significant numbers of related complaints coming to AFCA. It provides for early communication with relevant stakeholders and a more streamlined, expedited process for the resolution of related complaints. 

What has happened? 

ME Bank recently made changes to some older, legacy home loan products which resulted in some customers having their redraw limit adjusted. In response to customer feedback, ME is changing back redraw limits for any customer who requests it. If you've been impacted, you can either: 

• Request to change back your redraw limit online at mebank.com.au/changebackredraw
• Contact ME directly on 1300 308 357 to discuss alternative options 

For further information please visit the ME website on www.mebank.com.au  

ME Bank’s media release on this issue can be found on its website: 

https://www.mebank.com.au/news/media-release/ 

Have you been affected? 

If you have been affected by ME Bank’s change to the redraw feature on one of their home loan products, we encourage you to contact ME Bank via: 

• Request to change back your redraw limit online at www.mebank.com.au/changebackredraw 
• Contact ME directly on 1300 308 357 to discuss alternative options 

If you have recently been advised about changes to your redraw balance, you can find more frequently asked questions here: 

https://www.mebank.com.au/support/home-loan-redraw-faqs/   

For all other enquiries, you can contact ME Bank on 13 15 63 (8am-8pm Monday to Friday and 9am-5pm Saturday AEST). 

How we can help 

AFCA offers free and accessible dispute resolution services to consumers and small businesses. If you have raised a complaint with ME Bank but you have been unable to resolve the matter, you can then come to us for assistance. Please note, we are only able to consider your complaint once you have raised the matter with ME Bank.  

If you encounter difficulties which you are unable to resolve directly with ME Bank, you can register your complaint with us using our online complaint form or by calling 1800 931 678. More information about the process we follow to resolve complaints is available on our website. 

Published: 5 May 2020

Media enquiries media@afca.org.au

About AFCA

The Australian Financial Complaints Authority (AFCA) is a non-government ombudsman service providing free, fair and independent help with financial disputes. It is a one-stop-shop for consumers and small businesses who have a dispute with their financial firm, over things such as banking, credit, insurance, advice, investments or superannuation. Where an agreement cannot be reached between parties, AFCA can issue decisions that are binding on financial firms.