An Aussie bank has sent an erroneous email out to customers stating it was “pleased to announce” it was passing on interest rate hikes to their home loans.
ME Bank, a subsidiary of the Bank of Queensland, sent out the email after Tuesday’s cash rate increase which read:
“Following the recent announcement from the Reserve Bank of Australia (RBA) to increase the official cash rate by 0.25% per annum (p.a.), we are pleased to announce that we are passing on this rate increase in full on your variable home loan(s).”
It received backlash after a customer posted the announcement to Reddit on Wednesday evening.
ME Bank sent out an email stating it was ‘pleased to announce’ interest rate hikes. Picture: Reddit
The user who posted the email stated, “After the recent RBA cash increase, I received this email”.
“I think I might let them know that I’m pleased to announce that I will be changing banks.”
Commenters were quick to theorise how the email got through to customers.
“Somebody assigned the same template as a rate decrease to a rate increase lol… QA fail” [sic], one comment said.
Another comment, claiming to have also received the email, said: “Received the same email, time to start shopping around”.
Another comment called the email “tone deaf”, stating there was no need for emotive language in this kind of announcement.
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ME Bank later sent out an email apologising for the error. Picture: Reddit
ME Bank later sent out an email apologising for the “incorrect content” customers received.
“We’re really sorry about any confusion this has caused,” the email read.
“This email was sent in error, and does not reflect ME’s commitment to communicate to you with clarity and empathy.”
ME Bank also announced within the original email that their rate hikes would be effective from February 7, a sooner date than Australia’s major banks.
As reported by news.com.au, the rate hikes for the big four banks will come into effect almost a week later, with Commonwealth, ANZ and NAB implementing them from February 13 and Westpac lifting rates from February 17.
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