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The processing time is so slow when receiving trade funds
So it states to follow T+2 date and I reckon the funds should be received by morning 8AM same goes when you buy shares. However, It has been over 2-3 hours but I haven't received any news from it. Terrible service.
Comsec pretty good.
Been using Comsec for 30 years. Their app is very good and share prices in real time. Inadvertently haven't had funds in the account a few times and they waived $100 fee each time when explained the circumstances. Once the guy wouldn't, then when IV rang back a couple of days later in they did. If you aren't happy with the operator hang up and things back. Customer service is mostly ok, sometimes you get a trumped up upstart who just doesn't want to help.
Meets my needs
Have been using CommSec for more than a decade. I have probably done tens of trades during that time. Commsec meets my needs and whilst I have not needed to contact the call centre often I have found that staff have been helpful when needed. I do have some issues with their app, in particular the newsfeed that is a bit all over the place. Other than that I would not consider trading elsewhere. Yes, there are cheaper trading platforms but there are also more expensive ones that offer not much for the extra fees.
Their International trade platform terrible!!
their international trading customer service is the worst I ever had, they charge the most expensive trading fee and treat user as a crap. I questioned my US dollar withdrawals, they told me to open US account to avoid currency conversion which I did. But when I actually withdrew US from trading to US account, they directly deposited to AUS account.
When I called about this issue, they asked security questions then said they were not satisfied my answer and directly terminated my whole commsec accounts....... Both US and AUS all trading accounts.
My whole lovely day is ruined because of one call to their customer service.
How can you have Australia's Top Bank with this abysmal customer service
Customer service that is hard to believe , they send you an email that they tried to call you but literally phone just ring single time and their job's done. Unprofessional
There's certainly many disappointed comsec clients on this review site. From my trading experience, I strongly agree that they place their profit before customer service. Examples; when you buy shares expect to pay extra than the current share price and when selling expect to sell for less than what's the stocks are reading for. If your even 0.5c short on settlement day they will attempt to charge you a $100 dishonor fee. Comsec brokerage fees are one of the cheapest but when you do the math for the total stock purchase they work out one of the dearest. Put simply, their profits are your loss. The customer service is disappointing and there appear privacy issues too.
Terrible value for money
Use SelfWealth, only open an account to use it for research and use SelfWealth to make trades, very overpriced brokerage fees and customer service is trash, they took money out of my account without warning
Terrible service. CBA and Commsec retaining access to my SMSF funds and shares
Doing a simple transfer of shares and funds from Commsec to Commsec account. bank acc attached to old frozen and I cannot access funds anymore. Keep getting different staff on phone.
Rude, expensive and a rip off
Despite spending 1000s of $ in trades they decided to lock my account and fine me $100 because my payment was 50 cents short.They are horrible and expensive avoid use anybody else but them.Read the other reviews and you will get my point.
worst custommer service I've ever had from a financial institution
Asked to complete a form, it was returned after two weeks with directions 'we can't process this ...' because my suburb (not city) must be written on the line that says 'City or town, state or province.'
Complying with this very novel use of English, two weeks later 'we can't proces this ...' because the name printed under the signature (that doesn't include my middle name) does not include my middle name (even though this could have been requested on the first rejection email and my middle name is provided it elsewhere on the form).
Your fees ...
Example of a Rubbish IT Department
Consistent problems with this app to the point where I will now use another trading platform despite being a loyal CBA customer for for 50 years. Similar issues with their Netbank app and despite several phone calls there has been no resolution.
Very very bad customer service, tried to call them few times but on hold for about an hour but no response,commsec international shares app is not really user friendly and even customer service is not great either. Didn’t expect this from such a big bank.
Don't waste your time and money with them
I was new to share trading, decided to give it a try with Commsec thinking these guys will be helpful.
First trade initiated, unfortunately with the limited notifications when they try to pull the funds out from my account it had insufficient funds. I get notified, i drop additional cash into that account thinking they would try again. Days gone pass, I get a note from Commsec stating that they have sold my shares (obviously at a loss) and shut my account. No phone call follow up to see if the account holder was still alive or anything just dec...
Commsec are far from transparent for a financial organization, which based on their past practices is not hard to conclude. Misleading statements and costly delays. They refused to take responsibility at every turn.
They have been buying above market price and selling under market price costing me thousands of dollars in lost income. Would not recommend CommSec to anyone. They are an absolute joke
Can't close your account without a paper form, so they won't stop email you
You cannot close your account with them without completing and returning a paper form.
They clearly aren't living in the 21st century with the rest of us, so why on earth would you use them for online trading?
Can't trade GME GameStop - apparently trading restrictions - yet stock is trading!!
I'd like to hear a solid reason why it is not possible to trade GME through CommSec.
What's the point of having an international trading account if trading is restricted?
Comsec One is not a privilege.. worst experience ever
Not sure what happened to my account as I got enough money in CDIA and sold some shares pending settlement.
Comsec wouldn't allow me to buy new shares kept showing up error message saying deposits required?
I have wasted many minutes calling their customer service but instead have to be transferred to special department for Comsec One and claiming they can't help me because I am a Comsec One customer?
I was back to the main menu again rather than someone taking the phone call immediately.
****** Wasting my time worst experience ever and w...ith is with Comsec One that normal staff can't help??? Wasted my opportunity as well to buy the shares at the right price. All my wording are actual experience as of today. Contact me if you can Comsec Staff. Worst experience ever.
CommSec International Trading equals Zero service
There is always a very very long wait for service. The application process sends generic emails and when I lodged a W-8 form online 4 days ago, it it is still showing as outstanding even though I have the printed document post lodgement. You can't ever seem to get hold of anyone who can answer a simple question. Far too many other issues to list here. I will be closing the account and going somewhere else.
4 months to get an application to open an account and still waiting on their incompetence!
I don't often post here, mainly because it's not the sort of thing I do, however the need to warn others about how unbelievably bad Commsec is, warranted the 5 minutes of my time. In short I've been a commsec customer for 10 years. I've been trying to open another account with them for 4 months. They don't return calls, promise me they'll get back to me and don't and I still don't know why my account hasn't been opened. It is unbelievable. Stay away, they will waste your life.
Questions & Answers
Saddened by commsec.
Is there a better way?
ANZ in fact everyone is better than commsec
I made 4 seperate buys of different amounts, 1 of those buys for $505.00 was returned to my account for insufficient funds (didn’t factor in the trade costs when depositing money into my cdia account).
So since making the buys I’d been busy and hadn’t kept up with my emails only noticing today (05/11) they’d sent me something stating 1 transaction failed and gave a due date for the funds to be available by 4/11 or further action blah blah.
Here’s my BIG issue
Only seeing this this morning (day after due date) at 11am I checked my cdia account straight away, there was no notification or anything so I went to move some money around when I seen a “Commsec Admin” withdrawal of $605.00 had been taken out of my Commonwealth netbank SAVINGS account. This account and the money in it is a separate savings account I use to the upcoming weeks wages in for my business as I invoice bi weekly but pay my staff weekly.
How is this legal? It mentions the selling of shares owned (I have upwards of $6000 worth with them) if I default but no mention of helping themselves to any bank account I hold whenever they please!
I have searched and searched but I can find ABSOLUTELY NOTHING written about “Commsec” being given free reign, especially without any form of notice, over my “Commbank” personal and business banking accounts!
CDIA is a trading account they offer for “cheaper trade costs” and it is linked to my Commbank NetBank app but outside of that account it would be my understanding that any money in ANY account, especially a savings account, should be off limits to anyone but me without my say so.
I am absolutely fuming and actually now in the process of finding/changing banks for all of my personal/business and investment banking needs.
How do I join Commsec
There is an online process but you need to mail a certified copy of your ID to it. See the website.
Have you considered NABTrade run by an associate of the National Australia Bank? I was a CommSec user but switched to NABTrade as the platform is better.
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