Commonwealth Bank Pensioner Security
4 reviews
Reviews
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. 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... Read more
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. TomStay Away
Can't transfer money overseas, now! The ComBank is on another planet for sure. Maybe they will facilitate transferring my business to another Bank. I believe this is enshrined in BankingLaw, now!! I have been with these idiots since School Days. Haven't got any interest, either, even though the has ALWAYS been in CREDIT!!!!!Tomorrow will be making a formal complaint to the Banking Ombudsman!!!
Wonderful account for over 55's, or people on a pension
I've had a Pensioner Security Account with the Commonwealth Bank for 5 years now. I couldn't be happier. It is easy to use, & no shortage of ATMs around the country for me to access my money.The features of this account are -
*it's for anyone receiving an eligible pension, or are 55 years or older
*there are no monthly account keeping fees
*you get up to 15 free withdrawals per month
*100% security guarantee of your money
*it's a flexible account that keeps your retirement savings safe & working for you
*it allows you to earn a competitive ra... Read more
Good
This is a free account for pensioners, with a set amount of free transactions. Commonwealth has the most amount of branches and ATMs, which makes them the most accessable in Australia.This account is free for pensioners and over 55s. You have the option of keycard access or a passbook if you prefer older style banking, making visiting the branch a must. Accounts can be accessed by phone banking and the internet. Overall it is a comparable product to all the banks
There are only a small amount of free transaction, and if you write cheques and its in excess of your free limit, it costs $1 for each cheque.
Questions & Answers
Can I do an electronic funds transfwr to my elderley Father's Pensioner Security Account? I have sold his car and I want to transfer the funds to his account, but my COMMBANK ap doesn't seem to allow this transaction.
My platinum CBA credit card has a $5000 limit I have in total $6100 in the credit card can I transfer the extra $1100 to my pensioner account without being hit by fees.
when is interest paid
Details
Category | Transaction Accounts and Savings Accounts |
---|---|
Eligibility | Retirees & Pensioners |
Monthly Fee | 0 |
Contact info for Commonwealth Bank Pensioner Security
Extra Information
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