Major
CommBank
Overview
Commonwealth Bank (CommBank) is the largest of the Australian banks with headquarters in Sydney. It services customers across Australia, offering a range of banking and financial products and services including personal banking, business banking, corporate and institutional banking as well as a range of wealth management solutions.
Advantages
Banking with CommBank offers customers convenience through its online platform, mobile app and extensive network of branches and ATMs. Customers can also take advantage of competitive interest rates on savings accounts, credit cards with rewards programs and range of home loans.
Security
To protect customer data and money, CommBank has implemented several security measures including encryption technology to secure online transactions; fraud monitoring systems; two-factor authentication for logging into the app; SMS alerts when suspicious activity is detected; 24/7 customer support; secure payment methods such as Apple Pay or Google Pay; plus insurance coverage for eligible deposits up to $250,000 per account holder.
Customer Service
The bank offers various customer service options including telephone support during business hours (Monday - Friday 8am - 8pm AEST), live chat via the website or mobile app, email enquiries via the website form plus social media channels such as Twitter or Facebook Messenger for general enquiries only. Its branch network covers most major cities in Australia while its ATM network extends even further so customers have easy access to their funds no matter where they are located in Australia. Other bank ATMs may be used free of charge if customers have a linked debit card from another participating bank's ATM network within Australia.
Majors
Big banks with extensive nationwide networks that provide a comprehensive range of services
Challengers
Regional and international banking institutions that offer financial services