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Commonwealth Transaction Accounts

Commonwealth Transaction Accounts

2.9 from 14 reviews

See the Best Transaction Accounts / Debit Cards in 2019 as rated by Australians on ProductReview.com.au.

Reviews

Review distribution

5 star
0
4 star
6
3 star
4
2 star
1
1 star
3

Frog69

Frog69Ballarat

  • 6 reviews
  • 4 likes

Disappointed

published

This account is ok but if you don't get the deposits of $2000 it a little disappointing we get charged for being loyal to the bank.


KingKong

KingKongMelbourne

  • 2 reviews
  • 2 likes

Charge account keeping fees and extra fees to get counter service

published

I have just opened transaction and term deposit accounts with the bank. Recently, to my surprise, the bank charge me extra transaction fees when I renewed and topped up my term deposit through my transaction account. First of all, they don't warn you of any fees upfront. Then if you top up your term deposit via your existing transaction account over counter, they will still charge you withdrawal fees. When I complaint to them, they said the work around is to withdraw the cash from ATM then top it up over counter. They did refund me the fees after I complaint but this type of bank service will be going down soon.

Lucy_Lou

Lucy_Lou

  • 78 reviews
  • 9 likes

Bad

published

Terrible

published

It's rather a useless account. $6.00 on monthly fee and a couple of issues with reimbursing transaction. They never came through with the money which they clearly withdrew from the streamline account. Be warned, shop around the only thing good i can say is customer service, but that makes sense if their profit was around 5bil last financial year.
Great transaction history
1. Hefty fees on overdrawn amount 2. $6.00 monthly fee. 3.Theres no interest you can earn while banking with them.


justsaz

justsazAU

  • 101 reviews
  • 22 likes

Good

published

I've been with Commonwealth Bank for about ten years now and perhaps that says it all. Although other banks can offer high interest rates, why "fix what ain't broke"? I've seen a huge improvement in the customer service and efficiency at the branches I visit. Also, now with the Commonwealth Bank buying over Bankwest, we are able to use any of the Bankwest ATMs without incurring any charges. You can link your Streamline account to a Netbank Saver to earn a higher interest.
Very easy and quick to access using online Netbank, unlimited online transactions, low monthly fees.
This account has a low interest rate.


neodymium

neodymiumAU

  • 226 reviews

OK

published

memphis72

memphis72

  • 5 reviews

Good

published

I like the account because of the flexibilty and no frills.I dont agree with the fees,you arent given enough time to put the money in the account before they take the $30 fee
The account is always available and I have linked it to my ING account and its easily accessible with my CBA account
The cost of the overdrawn fees.


rykris11

rykris11

  • 30 reviews

OK

published

Compared to other general or everyday keycard, i would say it's alright.
NetBanking is quite handy to check your funds online. However, i think the layout is a bit confusing sometimes, and could possibly do with some improvements.
It also sometimes takes a while to update exactly how much you have and how much you've spent.
There are plenty of commonwealth bank atms available, which makes withdrawing money convenient.
There are fees when you have insufficient funds in your account. I got charge $30 for this, which is a pretty hefty amount!
You also get charged for using other atm machines other than commonwealth bank ones

Josie_9

Josie_9Australia

  • 46 reviews
  • 10 likes

Good

published
wherestheid

wherestheidKingston, Tasmania, 7050

  • 17 reviews
  • 2 likes

OK

published

The Commonwealth Bank's Streamline account is an average (if not slightly below average) Student bank account providing students with a reasonable range of service it's price - free.* (*except for hidden fees such as getting a transaction history printed at an ATM - you won't know you've been charged $1.50 to check your last 5 Debit Card activities until you get your statement when it comes in the inconvenient, and infrequent intervals of every 6 months.)
No transaction fees except for just a few services.
Very low interest rate on savings kept in the account, statements are infrequent.


Hillcrest

Hillcrest

  • 33 reviews
  • 12 likes

Terrible

published

I have spoken with the Commonwealth Bank several times and each time I get the "we are thinking about offering a debit card", but it never seems to get any further. Do I change banks because I want one? I have been thinking about it, but so much work, so I stay put, not because of great features though!
Commonwealth Bank do not offer a Debit Card, which section this is in. They offer credit cards, but 'are thinking about' offering a debit card sometime int he distant future
Many of the other big 5 banks offer debit cards for those of us who don't want huge credit card debts, if we can't control it.


ml2tope

ml2tope

  • 10 reviews

Good

published

mrhappy

mrhappy

  • 15 reviews

Good

published

The availability of ATMS and branches is a winning strength of Commonwealth Bank. The transactions are normally processed in 1 day,cheques cleared out in 2 days,which is good!
The Internet Banking is very easy to use,which is different to other banks. Telephone banking is always available in any branch
The overdrawing fee is too high $35 and they will not refund you the money unless you ask for it but you will have to state with them that the fee is excessive and unreasonable. I tried my self before and they all gave me back the money in 2 days


fanatical

fanatical

  • 18 reviews
  • 1 like

Good

published

Not a bad account if you have limited funds as you don't pay per transaction like some other bank accounts around. Overall happy with this type of account and the bank.
Convenient everyday account. Little or no fees - especially if you have a minimum amount of debt or money in all of your accounts. Easy to access money at branch, atm, phone, eftpos or on internet with unlimited transactions. Loads of branches and ATM's
If you accidently leave not enough money in to cover a payment coming out then they charge a pretty high overdraft fee. The monthly account fee is a joke. no bank should charge that.

Questions & Answers

Peter

Peterasked

Why aren't Streamline accounts listed online as an option for transaction accounts. Peter

No answers

Get an answer from our members and Commonwealth Bank representatives

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