Very happy with NetBank Saver
I signed up for the NetBank Saver a few years ago and have been very happy. Essentially NetBank Saver is a free account that you can link with a different CBA transaction account (which charges monthly fees etc.) The NetBank Saver offers the standard variable rate for your interest. But they often have limited time promotion, if you sign up for a new NetBank Saver account within a certain period of time, you will get an even higher rate. Once I dropped by a CBA branch (for queries irrelevant of the NetBank Saver account), a customer service off...icer offered me a rate upgrade for long time customers, so i had a high rate that normally only new customers would get. Of course the high rate was temporary, but it was still nice. High interest, free
It's a pretty basic product. A bucket to stick your savings in and earn minimal interest, you probably only end up slightly above inflation. Other than having online access to your funds, it honestly doesn't offer much more than stuffing your money under a mattress would.
Lacking in features, inflexible transaction processes, after two years I am now shopping for a superior product. I think most discerning customers would find this a rather lack-luster offering overall.
Convenience and reliable access to my funds. I stick my wages in there a...
The Commonwealth Bank NetBank Saver is an excellent account to have if you are an internet buyer/seller. It is a more secure option as a secondary, additional account if you are an online seller (not that any online banking is secure, but as secure as one can hope for!), such as with Paypal etc, preventing one from having to give unknown companies ones principal account number; i.e. if you are cheated you don't lose absolutely everything! This is an account that can only be accessed by transferring the money directly out of it and into your m...ain account. Designed as a savings account, this makes an excellent holding account and secondary direct debit/deposit account for online transactions particularly as it has no monthly fees. It's free. It's secure to use for online money transfers, deposits and direct debits. Nothing. Having to transfer money to other accounts to be accessible via card/eftpos can be a bit of a nuisance, but a good preventative to on-spec spending.
This account is great and suits me well. The interest paid is quite high and compounded monthly. The money is also accessible when desired. This account is very generous and provides for my needs. I would recommend this account to other people who want high interest but also accessibility to their money. Other people may have other accounts which better suit them but this account is very appealing with what it offers.
This account pays high interest and is very convenient being online meaning yo can bank when ever you want without having to queue.
You must transfer from accounts to make withdrawals.
Good account, learn to play the banks or else you are being riped off. My father has the same account and only learnt a couple of months ago I was getting 33% more then he was. If one gives you a better offer, walk with your feet.
Fee Free, same interst rate as most term deposits accounts with money access available at any time. Easy to use bank account with helpful tellers. When I threatened to leave the bank for another banks 'honeymoon rate' they said they would match it. Hence I have now been paid 1.5% above the standard interest rate for t...
I have had Netbank Savers now for about 6 months and I like the concept of them, having funds cleared from linked accounts to the Netbank Saver, however as I have formally been a customer of ING and ANZ I really do think that the interest rate needs to be higher as a constant instead of having it as a bonus interest rate. It's great now that the Commonwealth Bank has a new Netbank page instead of the old outdated interface that previously existed.
It's easy to transfer money from my transaction account to my Netbank Saver
The interest rate could be higher and scheduled transfers from the Netbank Saver to a transaction account would be nice
If you have spare money and have an account with commbank, I recommend you to get a netbank saver account, because it gives you high interest. Dont just put your money in a streamline account, because the interest is low.
I love netbank saver, especially because it gave me a huge interest. I also like the fact that it's separated from my day-to-day account, because if I use ATM or EFT, my money will be withdrawn from my day-to-day account; therefore having it separated from my daily account adds extra security to my money.
I have with with ...commbank for almost 9 years, I love the service. NetBank web interface also looks nice, and easy to use (compare to WestPac). Bank charge: You must also have a streamline account, and you will have to pay a minimum of $5 per month for a streamline account .
The NetBank Saver account used to only be available to certain people, and as a result it had a higher interest rate, I remember it being up around 7% at one stage. At the moment it is about 3%, and I know part of that is the economy but right now I think there are better bank accounts to put your money in. I like the fact that all the telephone banking is free, which makes it cheap and easy to transfer money between accounts, but the fees on the streamline account are quite high and it isn't really worthwhile.
Higher interest rate than standard accounts, telephone banking and internet banking.
Need a streamline account to set it up, used to be a lot better than it is now.
When it first came out it was only avaible to certain people such as my mother who has >$10,000. But when it became wider to the public the rules change to you need a strealine account to set it up. which previously was all you needed was any accoutn including an award saver account. my mother closed the account because the strealine had too much fees that made it unsuitable. the award saver was better as we can withdraw from the account once a month without having to worry about fees. but whe they change and force us to open a streamline accou...nt in order to keey the netbank saver we decide to use ING only. Its a good account but not for those that hardley take any money out. Its rates is just as good as the term deposits. interest rate must have an a streamline account to set it up
I initially switched over to the Netbank Saver from the Award Saver because I was finding I was losing my monthly bonus interest when I withdrew money. At the time I set up the account, the interest rate was rather high - about 6-7% - but it has dropped to about half now. Perhaps due to the current economy. I'm still happy to stick with Netbank Saver, but will probably be shopping around for some fix term deposits with a better interest rate.
No account keeping fees, telephone banking and online banking to access the account is free and simple ...
It is a good account with no account keeping fees, good for saving money that you need to access and you can access it, the interest rate is a little low compared to other banks.
You can access your money when ever you need it online without loosing your monthly awarded interest.
There is no fee on the account so you can direct debt money from one account to it if your saving for example $20 a week for Christmas presents and you don't have to pay an extra monthly account keeping fee for having an extra account.
My local branches Warwick, Joondalup and Wanneroo all the customer service tellers and account keeping people are fantastic to deal with.
The interest rate is low compared to other banks such as bankwest.
The Netbank Saver is a great for Streamline account holders to earn a higher rate of interest on their savings. It is easy to transfer funds to and from the account using Netbank and there is no account keeping fee for this service. The interest rate offered is usually not as high as other banks, so their are better options available for people looking for somewhere to park their money. The The Netbank saver account encourages people to save is great for people looking for a high interest account to supplement their everyday savings account....Free to set up for Streamline account holders, no account keeping fees, high interest rate, easy to manage with Netbank Interest rate is not as high as competing banks, unable to access funds without using Netbank
I like my Netbank Saver account, it has helped me to save my money much easier than a normal bank account. My account fees are not to high, all their staff are helpfull. i have since changed all my bank accouts to commonweath bank because i like their good and helpful service. When i went to get my personal loan, the staff members made it really easy for me, they helped me to work out all the documents and information i needed, they were patient with me and helped me out when i needed the help with it.
Makes it easier to save. Cheap fees
You can only access the netbank saver via the internet.
I chose this account as it was offered to me when I walked into the bank and I chose this bank because it was the first one I went into when I came back to Australia. Althought the Internet banking is sufficient (depsite the few weeks where no transactions were coming up on the online statements and there was a lot of downtime on the Net banking system) I am looking around to changing my account. I am going to look for a savings account that offers Internet banking (which I don't think will be too difficult) but the main reason for changing i...s the customer service. It is a pretty standard savings account. I can't rave on too much about it as it has access to Internet banking and offers a Mastercard Debit card. The service at CBA when setting up the account was horrendous. There were mistakes left right and centre and I found it painful to sort things out with them.
I am happy with this account. It is a good way to continue saving and is easy to use. It has encouraged my use of account transferring and the internet banking rather than branch banking. It is worth a try. I think the CBA has definately picked up the service provision and this is a product that supports their endeavour to keep customers happy. I have all my accounts with CBA now, and having been through the GFC I can say that my funds are well parked.
I like the way I can transfer from other accounts to this one and the money is not accessible. Good for saving..
this is the only joint bank account i have with my husband, it's a great account to have to pay all our bills from and as you can't access it when your out and about you can't spend the money on impule's purchases so we know the money will always be there for the bills, there are also no account keeping fees which is great. i would recomend this product to others.
it can not be accessed directly so if your tempted to take some money out to impluse buy you can't. good interest rate. easy to use and set up.
you can only access this online or over the phone.
I have to say that I do like the set up with Commonwealth bank. Their website is easy to navigate and all of my accounts are linked, my home loan and credit card. My husbands card was skimmed OS and they were right onto it and alerted us.
I know we all hate banks but this one works well for us.
Easy to use Website, lots of branches.
it is a very good and easy institution to bank with , and the interest given in the netbank saver is quite good, compared to other banks.Definetely this is one of my favorite banks.
the interest rate is very good compared to other banks,The staff are very good, polite and most of all very helpful. Also I have taken a home loan and the it was granted with minimal difficulties to us.Also I got a loan amount that other banks did not offer.ATM's are also situated all over Australia, so there is no issue in getting cash out anywhere.
bank charges are a bit too high
I have setup a commonwealth bank account with netsaver just for the purpose of my home loan. The fess were reasonable as I have a debit card free of charge. I like to think that is an edge over anz bank. The down fall of this net saver is that the transactions shown are not up to date. I hope they can improve on this as it is not a bad facility.
Is free, good reasonable interests. For some who dont need a full bank services this would be good enough.
The updates on transactions are not real time and takes a while to process unlike ANZ.
Questions & Answers
I have transferred money into my friends account in the past from my account after deleting them from my book in the netbank can I still transfer money n go in right away?
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