Trying to cancel ME Bank? Avoid the runaround.
Can you cancel your ME Bank subscription? Check eligibility and conditions
ME Bank allows customers to cancel most services at any time, as long as accounts are in good standing.
- Transaction/Savings Accounts: Must have a $0 balance and no pending transactions. Direct debits should be updated or removed beforehand.
- Credit Cards: Only the primary cardholder can cancel. All payments and interest must be cleared first.
- Joint Accounts: Cannot be closed in-app; one account holder must contact ME by phone or in writing.
- Term Deposits: Early withdrawals require 31 days' notice. Rollover accounts offer a 7-day penalty-free exit window.
- Loans (Home/Personal): Must be paid off or formally discharged before closing.
- Linked Accounts: Direct debit setups must be transferred to another account before closing the original.
With ME Bank, there are no lock-in contracts. Just follow the right process and close at your discretion.
How to cancel a ME Bank subscription, service or order
Follow these steps depending on the account or service type:
1. Prepare the Account
Transfer out funds, clear debts, and stop any automatic payments before you initiate cancellation.
2. Choose Your Cancellation Channel
- App: Close everyday accounts via the ME Go app.
- Online Banking: Close credit cards as the primary cardholder.
- Phone: Call 13 15 63 for any product type, especially joint or loan accounts.
- In Writing: Send a formal request (e.g. home loan discharge) to ME Bank via mail.
3. Follow Product-Specific Instructions
- Home Loans: Submit a Discharge Authority Form and allow up to 21 business days.
- Personal Loans: Request a payout figure, pay it off, and confirm closure.
- Term Deposits: Call to give notice (or cancel within 7-day grace period if recently renewed).
4. Confirm Closure
Request a final statement or written confirmation. Cut up cards, destroy cheque books, and monitor for any stray debits.
5. Get Help if Needed
Call ME’s support team to clarify any step or confirm successful cancellation.
How long does a ME Bank cancellation take?
Timing is key to avoid extra charges or hassle:
- Everyday Accounts: Closed instantly via app or call (pending transactions must clear first).
- Credit Cards: Cancel after a billing cycle and once balance is $0. Statements continue until fully paid.
- Home Loans: Discharge process can take up to 21 business days. Plan ahead for settlements.
- Term Deposits:
- 31-day notice period for early closure (unless in 7-day post-renewal grace window).
- No penalties if cancelled within this window.
- 31-day notice period for early closure (unless in 7-day post-renewal grace window).
- Direct Debits: Update payment details with merchants before closure to avoid dishonoured payments.
Set calendar reminders and leave time buffers around billing cycles, interest payments, and settlement dates.
ME Bank cancellation fees and final charges – what to expect
ME Bank is transparent. There are no surprise cancellation fees for most products:
- Transaction/Savings Accounts: No closure fees. Ensure all regular fees are cleared.
- Credit Cards: Free to cancel. Clear any debt or interest first. Withdraw any positive balance.
- Home Loans:
- $245 discharge fee + ~$105 per property title.
- Break costs apply for fixed-rate loans (variable loans = no penalties).
- Full payout required before closure.
- $245 discharge fee + ~$105 per property title.
- Personal Loans: No early repayment or cancellation fees (just clear the balance).
- Term Deposits: No flat fees, but expect an interest reduction if closed early. The penalty scales down as the term progresses.
- Miscellaneous: Bank may honour a late debit post-closure. Always double-check autopayments.
No junk fees, just plan the timing, especially with fixed loans or term deposits, to minimise loss.
ME Bank cases submitted through Ajust
I requested my credit card to be cancelled multiple times and was promised it would be done. But weeks later, it was still active. I needed a cancellation confirmation for my home loan refinancing, and the delays nearly derailed the process. I was shocked by how unprofessional the handling was. - Pru
After ME Bank blocked my account, I asked for it to be closed. Even though I complied with ID requests, my funds stayed locked for weeks with no explanation. I just wanted my money and to move on, but they made that feel impossible. - Alexandra
I was told my ME Bank account was closed because I requested it-but I never did. No warning, no notice, just a final statement. I was embarrassed when my card got declined, then spent weeks sorting out replacements. I still don’t know what happened. - Douglas
My account was closed after reporting suspicious transactions linked to domestic violence support funds. The letter explaining everything was sent to the wrong address-the one used by the scammer. I’m now left without access to essential funds and no support from ME Bank. - Amylee
Consumer experiences with ME Bank cancellations
“Account Freeze Escalated to Ombudsman”: One user’s accounts were frozen without notice. After weeks of frustration, a formal complaint resolved it in 20 minutes.
“Large Transfer Blocked Until Escalation”: A customer struggled to move funds out for a home purchase due to ME’s form rejections. Escalating via social media and parent bank finally triggered action.
“Smooth Move to New Bank”: One customer left ME for a digital competitor. The closure process was easy, with no fees and minimal friction.
ME Bank Cancellation FAQs
Can I cancel my ME Bank account or subscription at any time?
Yes, most ME Bank products can be cancelled any time if your account is in good standing. You’ll need to clear any debts, pending transactions, or direct debits before closing. The bank doesn’t use lock-in contracts, so as long as you follow the right steps for your product type, cancellation is straightforward. This gives you control and flexibility-just plan ahead to avoid delays or fees.
How do I cancel a joint ME Bank account?
Joint accounts must be closed by contacting ME Bank directly via phone or in writing-app closure isn’t allowed. Only one account holder needs to make the request, but the bank requires verification. If you're juggling shared finances or life admin, make sure you update any direct debits before closure to avoid missed payments or dishonour fees.
What fees or penalties apply when cancelling a ME Bank product?
Most ME Bank products have no cancellation fees-but some, like fixed home loans and term deposits, do come with costs. A $245 discharge fee applies to home loans, and early exit from term deposits can reduce your interest earnings. To avoid losses, time your cancellation around billing cycles or use the 7-day post-renewal grace period on term deposits where possible.
How long does it take to cancel different ME Bank services?
Everyday accounts and credit cards can close quickly if your balance is $0 and there are no pending charges. Home loan discharges, however, can take up to 21 business days. Term deposits require 31 days’ notice unless you’re in the 7-day grace window. To avoid stress or delays, set reminders and plan around these timelines, especially before large transactions or settlements.
Tried to cancel but ME Bank made it difficult?
We’ll help you submit a formal cancellation they can’t ignore.