Renewing term deposits 'will be easier' with new bank features

Commonwealth Bank has announced a series of new additions to its online banking, which will help make renewing term deposits easier.

The firm said it is to add a number of measures that will make its internet-based banking channel NetBank easier to use and more transparent.

People with products such as high interest savings will be able to benefit from improved transaction searches and increased security, such as a password strength monitor.

Furthermore, it will be adding higher payment limits and enhanced account information pages.

This, according to the company, will make service functions such as paying off credit cards or renewing a term deposit and looking up interest rates, quicker and easier.

In addition, there will be SMS alerts and reminders added to its products, which will include term deposit rollover reminders.

Commenting on the move, Drew Unsworth, Commonwealth Bank general manager for online banking said: "Our recent enhancements are focused on fine-tuning the online experience for customers so that we can further empower customers to manage their money online."

Earlier this month, the financial centre rolled out contactless terminals and cards.

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