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Commonwealth Bank Term Deposit

Commonwealth Bank Term Deposit

2.5 from 6 reviews

My father is dying of terminal cancer

Even after taking in documentation to prove that my father is dying, the bank will not allow him access to his term deposit account. Vietnam veteran who has been a loyal customer to commonwealth bank for 54 years. What a disgrace, you have taken away the only control that my father had left in his life. He is dying and you still can’t allow him access to his hard earned money.


Brilliant staff and mobile experience. Just don’t expect a reasonable rate.

Ridiculously low rates but brilliant customer service. I have been with this bank for 15 years and I still use it as my primary credit. However, after testing the waters for a short term deposit they refused to make any affordances to their terrible interest rates on shorter term deposits. Disappointed.


Pathetic rate pathetic fees

I've had a term deposit with the CTB for 7 years and I keep reinvesting it and the rate drops every time
Even when they encourage you to negotiate by using other bank rates the offer is slightly less
Last time armed again to negotiate I was told not to bother as the service officer put in the highest rate and it still came back pathetically low.
First time I decided an early release of partial funds and it was ridiculous enough I needed to give the bank 31 days notice to withdraw my own money but I incurred a 39 dollar fee for my trouble
Pathetic bank pathetic rate


Can Do? I don't think so

My Term Deposit was due to mature on a Saturday so I phoned the bank to discuss this on Friday. A recorded message said the person I needed would get back to me before close of business. By 4.45pm I had not heard so phoned again to be told by the bank's employee that she had been very busy and would get back to me on Monday between 9.30-10.00am. By 1.30pm Monday I had not heard so re-invested elsewhere. Almost immediately the funds were transferred to another bank she phoned stating again she had been very busy. So much for the "Can do" attitude. Obviously they do not value their customers enough to return calls or reply to their online message service.


Great customer service, always quick and efficiantly quick with phone service.

Whenever I attened my local branch i am always confrunted with a friendly, happy employee ready to give or serve me with what i need, they are easy to do business with and very quick, as a customer it leaves me with a smile on my face as i walk out. I phoned up your company the other day, i was only on hold for less then 20seconds, the emplyee said to me "sorry about the wait" i giggled and replied "what wait!".
Many other times before i have phoned up and the wait time is never long.
I am writing this review to say thank you Commonwealth for making my experience with you grear, i will never switch banks.
Fast, Great customer service.
Netbanks first transaction time - 3days, lol


Good

I love Commonwealth Bank, the staff are helpful, and I like that they were happy to match other bank's rates on the term deposit if you ask. You can view the rates online so you can compare with other banks, and when it matures they send you a letter so you don't forget about it and you can renew it over the phone instead of going into the branch.
Good rates if you do one of their special lengths like 7 or 12 months or whatever, the rates aren't so good if you go somewhere in between. They are happy to match other banks rates usually, like if you go in and say another bank is offering an extra 0.25% then they will match it.
You need at least $10 000, whereas with a lot of banks for term deposits you only need $1 000.

Questions & Answers

I'm withdrawing all my money out of your bank,I have found a bank that will give me a higher interest all you have given me is 1 percent you are theives
No answers

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