Commonwealth Bank

I went to CBA Caloundra today for advise on opening an account with specific criteria. Well got the best customer service I’ve had from any company in many years, absolutely fabulous experience ,the lady that helped me was Rachel

I am starting a boycott of Commsec, following the 'last straw' that occurred last night. Firstly, Commsec International is garbage, it cost you… Read more

money.

It frequently displays overlaid illegible text (like when selecting a company on the right pane after entering a ticker-symbol). It displays some parts of the international window in $US, and some parts in $AUD, and fails to even label them as US or A dollars ... which is so illogical and confusing it makes no sense at all. Furthermore, it means when selecting the # of shares to buy, that I have to calculate in my head how much my available $AUD can buy at a given moment in $US and how many shares I can afford [esp. when price wildly fluctuating].

Then the Commsec "research and quotes" advice is all wrong, and evaluations they make fly up and down all the time for no reason. HOT TIP: Do NOT follow the CBA "research and quotes" advice section - it's all garbage and wrong!!

The last straw was last night. Following a hot stock-tip, I went to buy shares in a NASDAQ stock [QUCY] that spiked over %300 on the first night, and then spiked over %115 on the second night. I was going to get in, put my big money in, let it go up, and sell on the same or next night to make a single-session multiple on my money, then re-invest the profits in other stocks.

BUT COMMSEC TOLD ME THAT MY STOCK WAS "SELL ONLY" and they do NOT allow me to buy it! I WOULD HAVE MADE A FORTUNE!! Too late now to sign-up with another broker because the time it takes to transfer money being 2 days or so (Again, it is computerized now - it should be instant!!), I'd miss the boat. I can't tell you how p*ssed off I am at these morons from CBA. They can't even fix their software!!

POINTS: 1 = Commsec did NOT warn me, the user, that some NASDAQ companies are "sell only" and not "buy", which meant that otherwise I'd had the time to go sign-up with another broker. No warning given. 2 = Who are Commsec to baby and nanny me and tell me what shares I can and cannot buy?! If they can sell them, they can buy them.

Why am I paying higher brokerage than other platforms like Stake when I get lousy service?

CBA are huge, and they refuse to fix their software year after year and ruin new investors like me.

Doesn't cover COVID on cruises or domestic trip cancellation over $3,000. I have had to take out other travel insurance for most of my trips.

First of all, it’s convenient, and that’s all the pros that it has. The rate is really bad, terrible to be honest and when you need to convert the… Read more

remaining money back to AUD, you’re losing double the money. That was comparing with the UBank card that I also got for travelling in NZ. So, I used the UBank and it was way better, almost the same as what you see on xe. My advice is, don’t use it unless you need it for convenience, it’s from my painful experience. I lost almost $80 bucks from exchanging back and forth!

NetBank has to be the worst of all banks! Constantly down when you need it most.Can't reach them on the phone and no information online! And may I… Read more

mention the crazy new LOGIN having to press items on your mobile always to get online on my IMac! Really this is so slow and a nuisance> I'm migrating to another bank after 50years - They just don't care ...

I don’t recommend this option as you cannot withdraw funds. I loose interest in second month as I didn’t transfer funds to this account. It’s more like a scam this way that you are loosing interest income for not transferring $1

Was good at one point but now getting worse. More and more rewards are becoming unavailable, even the digital card rewards. Specifically Coles.… Read more

Worked well for a while, now every time you want to redeem a reward the choice is either limited and no availability for what you have points available to purchase. Or as another reviewer mentioned you will get "there are no awards available in your selection" Need to check this with ACCC as even though they will likely have something in the fine print that covers this, it is surely a form of misleading advirtising. If you dont have it dont advirtise it A google search says there are better rewards programs. That's also an option

CBA used to be great, now complaisant and offers extortionate home loan rates. Yes they have a nice online platform, but people shouldn’t be price gouged for the experience.

The Awful new Debit Commonwealth Card – I just received my Debit Commonwealth Card and I find it's looks ugly the name was not even embossed on the card it's awful I prefer the old looks… Read more

it's stated Bug sign of Debit card outside it. I suggest that Commonwealth Bank to Retain the old card instead of the nrw Commonwealth Card.

My wife lent her car long term to our daughter, to get her out of difficulty with getting to and from work, driving 80km per day. Our trouble began… Read more

with choosing our long term bank (Commonwealth Bank) when it came to needing a personal loan to purchase a replacement car for my wife. Both of us had a very good credit history, so we chose a car then applied for the personal loan. The loan application was completely online, which was a new experience and we had all the required documents. We received a message in the CommBank app asking for 1 payslip and a home loan statement and my wife attempted to upload these but something went amiss. We went into the local branch to be told that nobody deals with personal loans as they are completely online. Fortunately a home loan person was able to help get the uploads done, but then more messages came through requesting more payslips and other documents. The final straw was the bank telling us that we needed a statement from Westpac for our home loan when the loan is with RAMS, a subsidiary of Westpac. Needless to say, after 5 days of torturous bank dealings, CommBank was kind enough to inform us that we didn't meet their lending criteria. The most IMPERSONAL personal loan application ever.

CBA treatment of the Aged – My father who is bed ridden in an aged care facility, saved well throughout his life and put is monies in various banks. CBA has frozen his Netbank… Read more

account after he sold one of his investment properties in an attempt to move some of his assets into various term deposits. He was told that he would need to come into a branch to identify himself which isnt possible without an ambulance. He doesn't know if the aged care facility is going to be paid to keep his place, cant prepare his tax return and been on the security line for more than 1 hr. CBA need to realise that not ALL their customers can get to a branch without the use of an ambulance. When asked if a CBA employee could visit the aged care facility they said it was against the banks policy. So CBA has the bulk of his assets and he doesnt have access to any of it! I would also like to point out the CBA was notified that such transactions were coming and still their processes cant cope.

I've held a Diamond Rewards Visa credit card (and its predecessors) on a fee-free basis for over 30 years. For me, its most useful feature is the… Read more

free travel insurance, especially as I travel overseas several times a year. Otherwise it’s nothing particularly special, compared with my Amex points earning credit card.

I was happy to keep it on a complimentary basis, but a few days ago I received an email from CBA stating that they had been providing this card fee-free in error, and to correct their mistake they would start charging me $32 per month.

Well, of course, I wasn't happy to accept this, and contacted CBA by phone. The agent I spoke to basically said too bad, you’ll just have to wear it. I wasn’t particularly surprised by this response, and had prepared for this eventuality, so I asked the agent to close my account there and then.

To my mind this is just another example of how rapacious the CBA has become, in extracting the last cent from its customers. I also have similar complimentary credit cards with other banks and they have not (yet) pulled the same stunt as CBA.

Lucky I had Square as a back up, or I would have missed thousands of dollars in sales at a large event. The Smart mini worked for 1 or 2 transactions… Read more

and then I could not get it to reconnect. Constantly logging in and out, updating. Why is it that the Square connection is perfect, but the smart mini is not? Must be because it is rubbish!

Conbank extremely dodgy and charged me interest when I paid the full amount on time. Don't deal with this dodgy bank.

Commonwealth Bank - Security or Marketing – I am an 89 years young customer of the Commonwealth Bank and have used its facilities to transfer money to various organizations over the years. … Read more

Friday, 19 Jan I went to my local branch and with the cheerful assistance of the Manager, transferred funds to an interstate Bank; all "checks and balance" were made;. There was no possibility of a scam.

Within 30 minutes of leaving the bank, I received a phone call; 2-3 texts and 4-5 emails wanting me to contact the Bank.

Suspecting a scam I checked with the local branch and was assured the contact was genuine.

I phoned the number and was advised the bank was doing a security check to protect me. After the usual "identifying" questions; full name, date of birth, residential address etc; then followed a list of questions which appeared to have nothing to do with security but more attuned to a "Marketing Survey." I objected to this unwarranted intrusion of my private affairs but was informed that unless I answered all questions, the transfer of funds would not proceed. BIF DADDY HAD THE STICK.

Under protest, I answered all questions. It was agreed that there was no scam and that the funds would be transmitted to the receiving Bank and should be in the designated account by Saturday 20 January.

A review of my Bank Account on Monday 22 revealed that the amount had not been transferred as I was told on the previous Friday and by way of email. [FALSE ADVICE FROM COMM BANK]

Another trip to the local branch late on Tuesday 23 Jan and was advised to contact the security section again. This section failed to notify me that the funds HAD NOT been transferred.

Today, 24 January, another call to Security to be advised the funds would be transferred within a 40 minute time frame. Records now show that to be correct.

On three occasions, I have requested to be supplied with the questions asked (apart from identifying questions) and on each occasion was advised that staff could not provide the questions. When asked for a reason for the refusal, I was told it was because of "BANK POLICY."

When any organization hides behind the excuse "POLICY," then one commences to smell a 'rat.'

Was the Commonwealth Bank trying to protect my financial interests or more likely was the Commonwealth Bank conducting a covert "Marketing Survey" to find reasons for their shrinking business base and loss of customer support. You be the Judge.

Tom

Refuse to close term deposit.account – I am at a complete and utter loss. My mother's term deposit matures today. My mother and I arrived at the CBA branch Windsor.NSW Provided all the… Read more

documents to close the term deposit. The staff left us sitting for quite some time and then took my mum into a closed office. After what seemed to be an eternity I walked into the office and said that we had an appointment in 10 mins. The bank manger had by that time had tried to convince my mum to roll over the term deposit. Both the staff members were patron ising and told me the "legal team" had revoked my Enduring Power of Attorney.for my mum who is 88 years old. The end result was mum and I walking out. Nothing resolved and the term deposit will roll.over for another 6 months.

Comminsure,seriously your response to explain why you are charging $600 a year more than other insurer. But your stance on not reviewing it is… Read more

disgusting .25 years we will not renew,your bank is holding people to ransom. Our one claim we made,you ducked and weaved ,even bringing your own so called experts. Lucky there is an ombudsman, otherwise customers are only there to add to your billions of greedy profit.

Hidden Fees and Interest Charges on so-called Cash Advances – I thought I'd buy a lotto ticket. I do this rarely. Once every 5 years. Last time no issue. This time... Commonwealth Bank now sees these as cash… Read more

advances, so I got whacked with a cash advance fee, and interest charges from the day I bought the ticket. I only saw these fees when the statement arrived so had no forewarning that this was happening, or had the opportunity to immediately pay the so called "loan" I didn't realise I was given. Blatant gouging.

ive never made a claim but its impossible to get through to them – I tried to call comminsure to just change the direct debit details on my monthly payment. i sat for 30 mins in a phone queue then scheduled a call… Read more

back from someone. The SAME THING happened on the call back, i sat in a long queue for a long time. What is the point?? I never got to speak to anyone, and so sent a msg on the facebook site and got nowhere too. Now im ringing another company that can answer the phone and send emails. I would hate to be making a claim with comminsure if they are this hard to get onto.

Perfect beginners card – Hi, I got this card 2 years ago and although I have been a member of Commbank from past 4 years. This card is perfect for everyday transactions and it gives you freedom of paying money within 55 days.

The reason I applied for this credit card was because they have the cash rebate offer of $100 each month for the first 4 months if you use the credit… Read more

card for a minimum of $500 purchase per month. Initially if you use the credit card for $500 or more purchase in the first month, you will be getting $100 cash rebate, so I did use this credit card for purchase of more than $500 for the first month and then the next few months. I called the CBA call center after two months as I did not receive the first $100 cash rebate for my first month of using it. The CBA call centre staff advised that they have changed the offer to I will only get a total of $400 cash rebate after 4 months when I have used the credit card for a minimum of $500 purchase per month for the first 4 months. And I did use the credit card for more than $500 per month for the first 4 months. Then 6 months on, I have not received the cash rebate of $400 yet, so I called the CBA call centre again, they advised that I will receive the cash offer of $400 around mid May 2025. So I waited and waited and waited until I called the CBA call centre again on 22 May 2025, the CBA staff checked for me as to why I did not get the $400 cash rebate. I was very surprised to hear that he said I was not entitled to the cash rebate of $400 despite I have met the criteria of using the credit card for the first 4 months for more than the minimum requirement of $500 per month, however I did not have a CBA transaction account with CBA, so I was not entitled to it. I was shocked to hear that, firstly I was not told for the previous couple times when I called the CBA call centre that I needed to have a CBA transaction account, secondly when the staff told me that the criteria of having a CBA transaction account was only stated in the terms and conditions that you need to click into the link on CBA's website. I was wondering if such a criterion is that important, it should be shown clearly in their website when promoting this cash rebate offer, it should not be stated in the terms and conditions that you need to click into the link to read the 17 pages terms and conditions. I was very disappointed and frustrated with CBA!!!

High Fees – The Commonwealth Bank charged me :($15 for overdrawn fee and the amount overdrawn was only $56 approximately and l had clear funds going through only… Read more

3hrs later by a direct transfer) ,l think the Commonwealth Bank are not interested in looking after customers with not much money for just pure greed in my book

Commbank the kings of shifty business – CBA is honestly a ruthless, bloodsucking bank that only seems to care about taking your money. They could not care less and just refer to the fine… Read more

print as their argumnent I've had two loans with them for over 15 years and never missed a payment once !

Out of nowhere, they started taking money from my account for a loan that was already paid off because apparently the interest-only period had ended. I was shocked to find out they hadn’t notified me at all—no letter, no email, no phone call, and no SMS.

When I called to ask why I wasn’t informed, they told me they didn’t have my email address! Seriously? After all this time, they don’t have my contact info? It’s hard to believe that a bank can operate like this. If I had defaulted on my payments, would they really have just ignored me because they didn’t have my email? What if there was no money in the account from which they took the funds? Would CBA have just forgotten about everything? It’s absurd!

Now they’re refusing to give me back the money they took without any notice. I rThis whole situation has left me frustrated and disappointed with their service.

cant wait to close these loans and all accounts with them

Extremely rude staff behind the phone – I’m banking with them for 10+ years, had my credit cards and home loan with them. I was looking to purchase a car with my ABN therefore I submitted… Read more

my application where the google suggested me. Got a call back from a very rude lady who sounded very annoyed because I should’ve applied for a personal loan according to her. Got transferred to a personal loan department just to talk to another rude and un informative staff. I ended up successfully got a loan I wanted somewhere else a few days later.