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Commonwealth Bank Financial Planning

Commonwealth Bank Financial Planning

1.3 from 3 reviews · View Statistics
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3 reviews

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    Questions & Answers


    I'm a 76 year old pensioner.
    Has any other elderly person tried to get a refund for 'fees for no service' from the Commonwealth Bank's Colonial First State and been told NO. Then, after lengthy discussions, been made an offer, but then told that they are not entitled to interest/compensation. This contravenes enforcements issued by the Banking Royal Commission.

    2 answers

    No the RC only makes recommendations it is then up to the govt to implement any not necessarily all recommendations. Law firms are gathering clients together for class action so keep an eye out for them as this will be your best option. The CBA is simply a filthy bank ....they can be caught with their hands in the money till and continue to deny any wrong doing.I doubt they will ever change their culture as this is where they make their profits from through screwing over their clients.


    The thing is that they have already been refunding fees for no service and granting interest to consumers for years now as directed by ASIC in 2015/16.


    However, as far as I'm concerned 'banking misconduct' has progressed to 'incalcitrant conduct'. I agree that their culture will never change mainly because ASIC, the so called Regulator, was toothless as well as clawless well before the Banking Royal Commission.

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