CommBank banking app review

By Mozo ·

About Commonwealth Bank

It’s safe to say you’ve probably heard of this one. As one of the biggest names in Australian banking, Commonwealth Bank boasts over 1,100 branches and 4,300 ATMs across the country. 

They offer a wide range of services, including savings accounts, home loans, super and investments, and have earned their fair share of Mozo Experts Choice Awards to boot. To take a look at the everyday transaction accounts they offer, head over to our Commonwealth Bank bank account page.

What does the Commonwealth Bank app do?

There’s a reason why this app is one of CommBank’s most popular offerings, and an obvious pick as a back-to-back Excellent Banking App Award winner in our 2019 and 2020 Mozo Experts Choice Awards. Along with allowing you to view your bank account balance, make payments, and easily transfer between accounts, it comes with a multitude of other features designed to make managing and accessing your money easy and, dare we say, fun?

                                    Image: The CommBank  mobile banking app for iPhone

Features we love

While the CommBank app has always stood out for its excellent design and various features, there are a few in particular that we’re big fans of.

One obvious highlight is the spend tracker, which gives you a run-down of all the debit and credit card transaction you’ve made. Purchases are organised into categories (e.g. transport, groceries, utilities), making it one of the more comprehensive spend trackers out there. The app also lets you know where the bulk of your spending is going each month so you can review your habits and make changes where necessary.

There’s also the option to set up a savings goal, with in-app prompts to keep you on track to hit your target. Just fill out a quick questionnaire about how much you want to save and why, and the Commbank app will let you know how much you’ll need to put aside each week to get there.

The app also allows you to make cardless ATM withdrawals up to $500. Just select the ‘Get Cardless Cash’ option in the app and wait to receive an 8 digit code and a PIN. Enter both at an ATM within 30 mins and you’ll be able to withdraw your specified amount. You can even arrange for someone else to pick it up for you. This could come in handy in several ways, such as if a loved one finds themselves stranded in the city without cash.

A recent update has also introduced a number of helpful prompts to help you stay on top of your finances. For example, when your tax return comes in, the app will nudge you to use it responsibly, such as by paying down debts rather than making any extravagant purchases. It will also inform you if you’ve accidentally paid a utility bill twice, plus let you know when the grace period on any subscription services are nearing an end.

As for the rest of the features, there’s very little that’s been left off the table:

  • The app supports Apple Pay, Google Pay and Samsung Pay.
  • You can log on securely using biometric (fingerprint and Face ID) login on compatible devices.
  • All your loyalty cards can be stored in-app, so you don’t have to worry about rummaging through your wallet at checkout.
  • You can manage your credit card via the app, including make repayments, change your limit, and set spending caps.
  • You can pay your bills just by taking a picture using the Photo-a-bill feature.
  • New products can be applied for in-app, and if you’re not with Commbank you can open an account using the app too.
  • You can choose to receive notifications each time a transaction is made, letting you keep on top of your spending and also make sure your cards haven’t fallen into the wrong hands.

We’re not so hot on…

One issue which might cause minor annoyance is that the occasional transaction will show up as uncategorised, so users will have to manually set the correct category.

Other banking app reviews by Mozo

If you want to see how the CommBank app stacks up against other banking apps on the market, why not check out our Bank Australia or Credit Union SA app reviews as well, or head on over to the Mozo Fintech hub for all the latest in banking tech.