The Commonwealth Bank might be one of Australia's oldest and largest banks, but lately it's determined to do things differently. Its aim is to focus more on customer service and earning your business rather than counting on it. If you like the sound of that, then check out the Commonwealth Bank's wide range of personal banking products, including term deposits, savings accounts, credit cards, home loans and personal loans.
And if you love doing your banking on your mobile, Commonwealth Bank might be a choice to consider given it received a 2023 Mozo Experts Choice Award for Excellent Banking App, an Exceptional Everyday Account Award, and it also won the award for Australia's Best Major Bank.
Pretty good, the dropped the home loan rate instantly after the RBA decision, and helped me with concession rates and hardship plans and were 90% of the time thoughtful, compassionate and helpful.
Hate all the hidden fees when direct debits bounce. I get slammed with fees constantly.
Like the bank but too many branches closing making it harder for senior people
Likes: User-friendly app with great features like spending insights and instant transfers. Convenient branches and ATMs across Australia. Strong security measures for peace of mind. Dislikes: Fees can be high, especially for international transactions. Long wait times for customer service. Interest rates on savings accounts aren’t the most competitive.
I took out a car loan at 18 years old which was one of the worst financial decisions I have made in my life so far. Considering my naivety I was hungry for the loan immediately and did not have the knowledge or understanding of this kind of decision. When choosing my loan I was not given appropriate advice. The attendant I spoke to at Commbank didn't offer advice as to whether a fixed or non-fixed rate would suit my loan best and instead advised me to "just pick whatever, it doesn't matter". It did hugely matter and I ended up with a very small initial loan bloated into an out-of-control sum of money I cannot pay back for another 5 years as per the terms of my loan. I still use commbank for my everyday banking but I would say their loan system is ethically problematic and more financial counsellors should be available, particularly for young people without much banking experience.
Fantastic credit card I've been using for at least 10 years. Very helpful for budgeting. Categorises spends so you can see where you spend your money
I've always loved the Commonwealth bank.i haven't been back with them for long so I'm still deciding what s next but so far so good AaAa.
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