We got a home loan through Commonwealth and subsequently we changed all our accounts over to them aswell. When you use internet banking you cannot see what amounts have been taken out until about 3 days later and there is ALWAYS a discrepancy between the account balance and the available funds. The reason I use internet banking is so that I can see where my money has gone. I NEVER had this problem with Westpac or ANZ (the two banks we were with before changing over to Commonwealth). I cannot keep track of my money using Commonwealth's internet banking!!!
We have only been with Commonwealth for around 7 months and that time we have:
- had problems with our home loan in that I called the Commonwealth call centre to see if we were allowed to withdraw the money back off our home loan because we pay more than necessary every month. At that time he told me I could withdraw what ever I liked if it was available but he failed to tell me that the amount available isn't what can be withdrawn and that I would need to keep a certain amount in the bank account for the loan payment at the end of the month.
- I had a problem with another of our loans in which we had our parents go guarantor as they needed a letter stating that the loan wasn't in their name and that they were just the guarantors. My mother went into the bank who then told her that she needed to call the home loan specialists. She then called them who told her to call me so that she could get access to talk to the customer service people. I called the customer service number she gave me only to be forwarded back through to the branch where I was abused by the lady because I asked if my mother could have access to get a letter about the loan as it was a security issue. Fair enough it is a security issue but I was just doing what we were asked to do by the other Commonwealth staff.
- We applied for a loan in which we were told on two occasions had been approved. We were told that we needed to go to the branch to sign the loan contracts. I called the service centre to be forwarded through to the Morayfield branch so that I could make an appointment to sign the documentation. The lady in the call centre told me that I didnt have to make an appointment to sign loan documentation and that I could just go to the branch at anytime. I went down to the branch to sign the documentation and they asked if I had made an appointment!!! I told her what the service centre had told me about not needing to make an appointment so she helped me out. She told me that our loan had been declined!!! I even had a message on my answering machine which had said that it was approved.
I think Commonwealth are the WORST bank EVER!!! I will be making every effort to withdraw all of my accounts and loans from them to go to another bank. I do not have one nice thing to say about them and I hope that people read this before they decide to put any of their accounts with the incompetent bank and then go through all the troubles I have been through with them!!!
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