Commonwealth Bank - be warned - charges
#1
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Commonwealth Bank - be warned - charges
I have been in dispute with CBA regarding charges for inward deposits in AUD into my CBA account. I did two identical deposits one in Feb 2013 the other in Oct 2013. Neither of the "charges" showed on my bank statement.
This is obviously very disturbing and also I could have offset the charges against my tax. CBA tried to put a gagging order on me, but I have refused.
I will happily post the excuse and "offer" from CBA once I have redacted our name and address.
This is obviously very disturbing and also I could have offset the charges against my tax. CBA tried to put a gagging order on me, but I have refused.
I will happily post the excuse and "offer" from CBA once I have redacted our name and address.
#2
Re: Commonwealth Bank - be warned - charges
We have this too, but the CBA arranged for us to have an 'Advice of a Deposit' document sent to us each time it happens and on this document it states the fee, this way you can then use it for tax.
#3
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Re: Commonwealth Bank - be warned - charges
Thanks,
They offered me $200 provided I sign a gagging order - I refused the "compensation" as every time in the past I have signed a gagging order it was inevitably to hide unscrupulous activity.
They offered me $200 provided I sign a gagging order - I refused the "compensation" as every time in the past I have signed a gagging order it was inevitably to hide unscrupulous activity.
#4
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Re: Commonwealth Bank - be warned - charges
i have closed my CBA ages ago, when the news came out about their financial planners' unethical/illegal conduct which they tried to conceal.
#5
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Re: Commonwealth Bank - be warned - charges
Interesting, would you mind to elaborate? How much did they charge/deduct?
#6
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Re: Commonwealth Bank - be warned - charges
The first transfer attracted a charge of $24 as CBA claim it was routed via ANZ, the second $10 as they claim it came through Barclay's. Both transfers came from the same source. I have requested copies of the transactions into my account - CBA have ignored the request three times.
The disturbing thing for me is that neither charge appears on my account - if it had I would have taken action at the time. I am wondering if not showing charges on a bank statement is legal? unfortunately my accountant has cancer so I'd prefer to find out by another source, any thoughts?
The disturbing thing for me is that neither charge appears on my account - if it had I would have taken action at the time. I am wondering if not showing charges on a bank statement is legal? unfortunately my accountant has cancer so I'd prefer to find out by another source, any thoughts?
#7
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Re: Commonwealth Bank - be warned - charges
That's interesting as I had similar problem and both times they have deducted about$24 as well and refused to explain why. I have even complained to call centre staff and explained other transfers never attracted the deduction. I have been overseas and unable to go to the branch yet, but received an email from the customer service manager or similar telling their investigation was ok and I should contact the ombudsman?! Will go to the branch in 3 weeks though before I take it further.
#8
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Re: Commonwealth Bank - be warned - charges
I think you are wasting your time with the branch staff. My branch is their 'flagship' branch on Collins St, Melbourne and are clueless. I was initially ignored (true to form CBA) then had a call-centre guy in India claim everything was "normal" but couldn't explain the charge. He then wrote to me on unheaded paper and in broken English - it was this action that arose my suspicion, after all with a $6Bn annual profit you'd think CBA could afford headed paper?
Out of sheer frustration I put it to the Ombudsman as a friend told me that the Ombudsman, although "owned" by the big four, charges $4,000 per investigation.
Out of sheer frustration I put it to the Ombudsman as a friend told me that the Ombudsman, although "owned" by the big four, charges $4,000 per investigation.
#10
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Re: Commonwealth Bank - be warned - charges
I have reported the matter to APRA after being referred to them by the Institute of Chartered Accountants. Having done some investigation it is clear that numerous breaches of consumer protection and anti-competition legislation has occurred.
Watch this space.
Watch this space.
#11
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Re: Commonwealth Bank - be warned - charges
If you want an exercise in stupid and useless then the financial ombudsman , in Qld anyway , is the place to find it , make sure you put you're patience head on before you attempt to get any results from them.
#12
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Re: Commonwealth Bank - be warned - charges
All Vic Govt authorities are designed to just pass the buck.
So far, this one has gone through ASIC -> Inst. Chart Accs -> APRA -> ASIC -> APRA -> ASIC.
Can you see the pattern? Wonder where it'll get shunted next, back to APRA?
Currently at Misconduct and Breach Reporting team for assessment. Is it any wonder there is no consumer protection here?
So far, this one has gone through ASIC -> Inst. Chart Accs -> APRA -> ASIC -> APRA -> ASIC.
Can you see the pattern? Wonder where it'll get shunted next, back to APRA?
Currently at Misconduct and Breach Reporting team for assessment. Is it any wonder there is no consumer protection here?
#13
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Re: Commonwealth Bank - be warned - charges
Funnily (or not) enough I have just been given a credit card by the CBA and I was reading their usage terms and fees only yesterday and came across the very fee the subject of the op and thought you cheeky bleeders , this is amongst a whole host of fees that they charge for making a deposit into their accounts of all sorts, the one that gets me the most is that they charge you for a cash withdrawal from a credit card bearing account even if there is cash in the account sufficient to cover it .
Be very carefull if you have a CBA account of any kind , they have many many ways of skinning your cat.
As for consumer protection , there is non , the country is run by ratbags , for ratbags and (imo) is turning into a feral crapthole , had it been the way it is now when I first came here 40 years ago I would have been out of the joint after no more than 12 months.
And as for QLD it's on the road to fascism faster than a rabbit gets ----d --again---.
Just to mention.
Be very carefull if you have a CBA account of any kind , they have many many ways of skinning your cat.
As for consumer protection , there is non , the country is run by ratbags , for ratbags and (imo) is turning into a feral crapthole , had it been the way it is now when I first came here 40 years ago I would have been out of the joint after no more than 12 months.
And as for QLD it's on the road to fascism faster than a rabbit gets ----d --again---.
Just to mention.
#14
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Re: Commonwealth Bank - be warned - charges
Completely agree Basho. I've only been here four years and as soon as our daughter completes her education we're off.
#15
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Re: Commonwealth Bank - be warned - charges
Financial Services Ombudsman has requested a detailed breakdown. ASICS are still investigating the matter.