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.
My home burnt down in March this year.I still have a mortgage with Comm Bank.The insurance company have been dragging out payment,which has left me financially compromised. Comm bank have been very supportive during this crisis and have provided me with hardship plans.They have been amazing.People be aware of NRMA insurance.I have paid money for over 50 years,never made a claim and since the fire they have turned ,are nasty and trying every trick in the book not to pay the policy,which is still ongoing I am 71,I think they hope I will die from the stress
The Commonwealth bank used to be very trustworthy and was very much a bank of the people even going as far as to visit school children and help them open their first accounts. Once the bank was privatised it slowly but surely started increasing fees and reducing services particularly for low-income earners including pensioners. The bank focused primarily on larger account holders and businesses. The wait time 4 a phone call can be hours rather than minutes which is absolutely outrageous. Westpac offers a fee free accounts for pensioners and children but this bank does not. The wait for customer service in a branch can be an outrageous amount of time and the services available in branches have been wittled away so that something must be done online and no other otherway. Too bad for people who are not technology savvy or have other disabilities or needs that mean a branch is really there only way to access banking services. Branches are being shut down and the hours R probably very good as a worker that for customers with a job having something open 45 and a half or 6 and a half hours a day is just not enoug. As I said if it takes a couple of hours to get through on the phone and there are no branches open or no branches near you it's no wonder people are leaving. Fees have become ridiculous for example I was charged $35 for an overdrawn account. The account was overdrawn by list then a couple of dollars.
Very easy to have your accounts all in the one place and to use the online system.
Commonwealth bank has easy to apply for loans with great rates and very easy to get..excellent five star bank for all types of loans
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.
They will not go out of their way to help their customers If there is a problem or a better method or way of paying that would save you money they never tell you In fact unless you find out yourself they will keep you in ignorance
Straight forward enough to navigate and they provide suggestions with promotions on many levels for ways to your needs to manage your money..very transparent with details of transactions with notifications for verification to better manage safety and security of account confidently......not happy about the netbanking app and interactions with account from a security and safety of online information and risks of access of hackers to exploit and access.compared to comm bank app.....which I highly recommend..with the AI and human customer service is great.....tx.mars.
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