Westpac have an online Maxi Direct account at call which was...

Westpac have an online Maxi Direct account at call which was approx 6.25% prior to this last interest rate hike. A couple of months ago Bank West was advertising a term deposit at 7% per annum, interest paid monthly, quarterly or at the end of the 12 month term for one million dollars or over up to two million. It was advertised on its website and in the bank window. I rang up about it and also went to the local branch and confirmed it. My husband wrote out a cheque and took it to them. After they deposited it they asked him wether we wanted the interest paid quarterly or at the ned of 12 months.He says my wife has seen you and spoken to two others regarding information posted on your website and we were told the interest would be paid monthly if we wanted as per advertised.The lad y at the bank says no, he comes home fuming because I made a mistake. I get the information up on the computer and there it was in all its glory, monthly , quarterly ar at maturity. he rings up bank, they say we will get back to you. Two days later otr there abouts, they call back, sorry , the ad should not have said monthly and they were awaiting for information from a higher authority in the bank as to wether they would honor the deal. Several calls later from the Bank west complaints person we were advised that we would not get the 7%. Meanwhile back at the website, the information had been removed as did the posters from the banks window. Conveniently for them we had to wait until the previous expected rate rise that didn't happen was announced before they officially told us we wouldn't get the 7%. No apology, no contact from the bank manager until I said I will come and get a cheque thank you. They did give us 7% interest for the week they stuffed us around. Understandably the people at Westpac gave me a very strange look when a week later I put the money back in LOL!!! I am sure we could have taken legal action but in all honesty, I couldn't be bothered. It would have made a good story for current affair ir something similar. The moral to the story, is Bank West will never get any of our business. Cheers, Seamisty