Knowledge and patience of the cbus adviser my wife and I dealt with was outstanding. She answered all our questions in simple terms unlike some financial advisers we had spoken too.
My wife retired on Friday and her lump sum was in our account the following Thursday.
Pleasure to deal with an institution who actually look after their customers.
Treated with contempt after 35yr member
Upon lodging a withdrawal of what are my hard earned funds after all, I was informed that the day of receiving my paperwork was day " zero" !! Really. Well when you hear of the next baby born on the 0/3/2017 please get in touch with this lazybunch of rude young upstarts at cbus. We as inion members deserve better than being told it takes 14 days to process a withdrawal. They can take longer on the next one because it will be my last. I'm closing mine next week and depositing it elsewhere.. I urge every member to do the same and I'll be telling my fellow members to do the same. Appalling.
WRETCHED service by CBUS, their Customer Service seems a joke!
I tried to rollover my superannuation from CBUS because I had two supers so I would like to transfer all my money to Common Wealth Bank (CBA).
First of all, I called CBUS to check my balance and they said to me that I had an Insurance Health Cover whereas I never ever have signed any agreement to have it. After several talks with them, I called the Complaint Department and spoke with [name removed]. She told me that I didn't have a Health Insurance Cover and apologized herself for the information provided by her team.
I called CBA to org...anize the transfer and whose process takes 14 business days. After that, I received a letter from CBUS stating that they need some information of me in order to withdraw the money: PASSPORT signed by the police to proof the identity, COMMON WEALTH SUPER ACCOUNT number. I sent by post the required information and I didn't receive any answer. After some weeks waiting a feedback from CBUS, I called them and their answer was that they need to proof my identity (NOELIA LOPEZ MARTINEZ) because in their system appeared only NOELIA LOPEZ. Actually the account was set up by my former employer, so it was not my fault. Therefore, I denied to send again all the documents and they promised to give me an answer as soon as possible. I haven't received any answer, they are totally liars. I was really annoyed for this situation and I called them again, stating all and discussing with them. They engaged themselves to withdraw the money that day but again, it was a LIE.
Appalling service, lack of knowledge, typical call centre just wants to get rid of you
Following are the details of what I have experienced trying to rollover super.
I started my request through my new super fund of which I have confirmation cbus received on 11th May 2016. The funds transfer was rejected for no reason. Upon receiving a letter from my new super fund explaining this I contacted cbus.
28th June 2016 at 16:40 I called cbus and waited on hold for 45 minutes before speaking to James. James offered no explanation to why the funds transfer was rejected and undoubtedly assured me that he would have the funds sent th...rough before the coming weekend. The same day whilst waiting on hold I sent an online request asking for an explanation and requesting that my super be transferred. 4th July 2016 I received an email reply from Sophie asking AGAIN to confrm the super fund that I requested my super be transferred to. I responded confirming my new super fund. Received an automated reply saying "We will respond to your request shortly". No further response was received. 13th July 2016 there was a note entered in the cbus system regarding my super transfer to be processed. (I received this information from Oliva on 28th July 2016 at 15:00)
CBUS is not employer unfriendly
We have some of our employees with CBUS, they demand payment every month! & on weird end dates so we can't claim a tax deduction on some of the payments! Worst company to deal with, out of the 4 i have deal with. Just wanted to get the word out there.... do not use, recommend your employees use someone else.
Terrible Customer Service, Zero activity or accountability
I had an account with Cbus for a new job which I worked at for 6 months finishing in Sept 2012. Dec 2012 I requested via a Cbus form for this super to be rolled into another account. I received a letter from Cbus saying this was completed. Later whilst attempting to merge all my super accounts I gave permission for my new super fund to find other super funds and merge them into it. They attempted this telling me they found super with Cbus and Cbus refused to release it. I tried again using this method only to have Cbus refuse again, Cbus never ...communicating a thing to me since the one letter on 2012. I get an email from my new super fund saying they are still running check on other super monies out there for me and Cbus still isn't releasing the monies. I have now spent the last month email Cbus a written letter with my consent to roll it over and they continue to take their time to respond with the same answer "we need your written consent". Not only had I provided this 3 times over the last 3 years, I had emailed it to them directly in an email they responded to and they still won't action anything. They have not communicated anything. They haven't called me once. They don't even read my emails and respond to valid points made. Do not engage at all with Cbus. Terrible. Australian Super has been fantastic on the other hand. So have the 5 other super accounts I merged. No fuss proactive and communicative.
Nothing but disgust for this company
I've reached the age where I can now obtain my super but these people and this company are making it so hard. I don't understand the problem. I have filled out my paperwork, given all the necessary documents and yet nothing. It's not so complicated when they're taking your money but when it's time to give the people their money back its a whole different story. Cbus you are a disgrace with the way you treat your customers. I want my money and to never have to deal with such an incompetent company ever again
C-BUS Are they really working for the worker
I recently decided to take things into my hands regarding my super. I'm 45 and had a handful of super funds and decided I didn't want to ride the Stockmarket ups and downs and enter my own smsf and invest in bricks and mortar. So setup a smsf and buy a unit. I contacted the three funds I knew about and majority of my super. AMP, One I can't think of their name and CBus. AMP were fantastic all be it a pain regarding answering times and called me the day after they received my paperwork to tell me they needed proof the account I want the funds t...ransferred into was in fact a smsf account and they promptly processed the other fund not as helpful but said they would put a note on the file that I needed the money fairly quickly and see what they could do regarding getting money paid via bank transfer. Then there was CBus. Taking forever to get hold of they first said we can not help you we don't have your application. So chase up delivery proof as I sent certified mail and when I showed proof they had in fact signed for the transferred papers they suddenly located my paperwork. I explained the situation I was in and was told there was nothing she could do and it takes up to 30 days and then it is sent via snail mail in the form of a cheque. Cbus this is a disgrace that in 2015 you take 30 days to give me my money. You have been no help and your ads that say you work for us are rubbish. What you should say is you work for the same corrupt unions thugs and are controlled by the same Union thugs that think they can stop workers because they have no Union ticket. ie can't pay your Union bribes. I will tell my story to every person that listens. I work on building sites now that legislation is in place to force you to stop forcing people to pay your wages.
Happy with Returns
I've been with Cbus member for 4 years now and my Superannuation returns are going fantastically - it's easy to see how my balance is going through the web or only phone and I'm REALLY happy with the investment returns. I know I'm well on track to retire okay with Cbus looking after the investment performance. I used to be with AMP when my first employer signed me up with them - I wish I had known then what a terrible company with shocking results they had. They average something terrible like 4% returns per annum over a 10 year period. Cbus is...getting me about 13% average per annum over a 10 year period. It's a MASSIVE difference and will make a massive difference. Just goes to show - your money is better off with an industry fund who gives profits back to members and not with a bunch of pretenders who are reaping profits into their back pockets, it's scammy and dishonest and employers who sign their employees up to places like AMP are helping to scam their employees.
Poor customer service
Transfered money via bpay to cbus. Told would be in my account 48-72 hours after transfer. 8 days later and 6 phone calls finally put into account. Applied for rollover into SMSF they can not do this as computor will not proccess the rollover they have no answer have very little feedback can I not talk to supervisors regarding concerns.Had 1 call center employee abuse me for ringing the call centre for follow up of issue. Again can not talk to supervisor to raise concerns no wonder they do not improve customer service all issues hiden
Do not invest in this company!!
This company has invested in 140 William Street, Perth. A place where retailers have invested millions in shop fits to only lose everything due to the poor ongoing management and unrealistic expectations of the landlord which is Cbus.
This has now been exasperated by the shops being ripped out altogether and being left like ghost town.
Cbus do not care about those they invest in and I would not put my money with them. I have seen those who invested in a Cbus tenancy breakdown in tears from their experience, stress and loss.
Look at other super funds with better fund management.
Arrogant and unrealistic. Lack of experience (in my opinion) in property investment.
Rolled the heck out into smsf
Rolled out of cbus after 6 straight years of negative investment returns and increasing fees. it is beyond me how 'professional' investment services can loose money year after year while increasing their fees. They where sluggish in changing my investment allocation (weeks... which is years in the share market) and have poor online services, reporting and statments are hard to read
Poor returns, high fees
Cbus are a joke! I've been with them for over a year and still haven't received a membership card, I have no idea whats in my account or how to even access it! I've filled out the form so many times but they never seem to properly sign me up. They just take my money! This week I'm going to try my hardest to set it up, them I'm going to switch to a different company!
Disgusted with not being able to speak to management regarding the withdrawal of my funds. Always being told by staff that they cannot put me through to management because they are either out of the office or in meetings. Unhappy with the time involved in obtaining my funds. I would not recommend CBUS to anyone because of the concerns I have regarding payout and being unable to speak to anyone other than the person who initially answers the phone.
The ease of opening a CBUS account
Finding it very difficult to obtain my funds. Requested a full ...
I have been with other funds, including non-industry funds, and I find that this is the best one I have been with. I like the instant access to my account detailing my transactions, balance, type of investment, insurance and also the ability to make extra payments via BPAY or bank transfer. I hope that once the contact via the web for queries is fixed it will be even better.
I find that the choice of investments is kept simple to follow, because you only have an option of 6 (including self select) investments to choose from, from fixed intere...
Overall i chose CBUS as it was the only form my payroll admin had on her desk, the fees are minimal and also they are very good at customer service.
i had a range of choices for investment including higher return- higher risk and lower return- lower risk. Very basic and easy to manage. customer service has been very friendly on both occasions i have rung. Fees are also minimal
Questions & Answers
Anyone still waiting for their early release? Curious as to excepted timeframes . This is my second shot. First time round was a 4week mess for me. Hoping Cbus got there crap together this time round .. tia
Right I can see the balance of my super account has dropped by 10k , that was yesterday morning ,, so why is it not in my bank account by now ??? Where is it ? Floating in the air somewhere ?
Hi everyone, I tried to change my asset allocation online to cash in march due to covert 19 affect on stock market. I could not do this as the web site was not working at the time. Did anyone have any problems using the site around this time. Cbus denies any problems. Paul Chittaway Point NSW
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