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.
I’ve been using Commonwealth Bank for my home loan, and overall, it’s been a positive experience. One of the standout features is their exceptional customer service. They were incredibly helpful in structuring our loan for a removal house, which was more complex than a standard loan. The team took the time to guide us through the process and ensure we understood all the details, which made the whole experience much smoother. Additionally, their online and phone services are user-friendly and convenient, making it easy to manage our account and stay on top of things. However, one downside is that compared to other banks I’ve seen, Commonwealth Bank doesn’t offer many benefits or advantages to help with the cost of living. While their home loan services are great, there aren’t many extra perks that could make day-to-day banking more rewarding. Overall, I’m happy with their service but feel room for improvement exists.
I've banked with the Commonwealth Bank since I was a teenager, so 35 years. My only issues are a massive lack of ATMs and the bank allowing a Merchant to access my account after I had the card cancelled. The merchant has taken a subscription fee out three years in a row despite me originally cancelling the subscription with this merchant. Then upon speaking with Commonwealth bank staff they suggested I cancel the card to prevent further unauthorised transactions. Well that was 3 years ago and I'm still trying to hold Commonwealth bank accountable for allowing the funds to leave my account hence my account is now overdrawn.
I found products , services , very good the down side is there other places with slity higher interest rates other than that there excellent
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.
Commonwealth is stable, secure and supportive. In some respects they are slightly more expensive, but it's because they are a superior product
I’ve been using the Commonwealth Bank Smart Access account for a while now, and here’s my take on it. ### What I Like: One of the biggest pros for me is how accessible it is. Commonwealth Bank has such a huge branch and ATM network, so it’s super easy to get to your money. Their CommBank app is also really impressive—it's user-friendly, and I love the budgeting tools and real-time spending alerts. As a student, the $4 monthly fee is waived, which is a nice bonus. Plus, the range of products and services they offer means you can manage everything from savings accounts to home loans in one place. ### What I Don’t Like: The $4 monthly fee could be a deal-breaker if you don’t qualify for a waiver, especially when other banks offer fee-free options. It’s also not the best account for traveling overseas—ATM and currency conversion fees can add up quickly. Some of their additional services, like international transfers, are also quite expensive compared to other banks or apps. ### Overall: If you want a reliable bank with great accessibility and an excellent app, Commonwealth Bank is a solid choice. Just be mindful of the fees, especially if you don’t meet the criteria for waivers or if you travel often. It’s definitely convenient, but it’s worth weighing up whether the fees are worth it for your situation.
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