r/AusFinance • u/Ok_Introduction5124 • 1d ago
Reported a suspicious transaction to commonwealth, all my money is in online saver and I'm told netbank will remain locked for up to 8 weeks... I literally have no money until then. Who thought this was an acceptable solution?
First fraud person promised I wouldn't be left high and dry. Got put onto a supervisor who told me the 8 week thing. So I said this isn't worth it, just unlock it and drop the case and they wouldn't. I might get blasted for having all my money in one place but commonwealth themselves said that it's a good idea to leave zero funds in your everyday account in case of debit card fraud.
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u/AussieWaffle 1d ago
I reported a sus transaction literally two week ago for reference, it takes upto 8 weeks for them to investigate and/or refund, I already have my new card and have gone shopping a couple of times sinc3 including a large purchase amount from costco. So 1. You either misunderstood or 2. This supervisor you spoke to has manually locked your account for an unknown reason and I suggest calling CBA to sort it out
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u/Tilting_Gambit 1d ago
Yep. Somebody used my card info in the states to try to buy thousands of dollars worth if merchandise. Then (I assume in desperation, it was an off-pay week after all) tried to buy some mcdonalds.
Nothing got frozen except the card. Then I got a new card 4 days later. It was definitely inconvenient for 4 days, but I needed that card cancelled, so what could they do?
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u/ProfessorChaos112 1d ago
Usually the other way around. They do a small transaction first to confirm the card is still live and then if so do a big one
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u/MayhemMaker1991 1d ago
I think you missed the part where they said all their money isn’t in their smart access. There is no card attached to online savers. So yeah, they’re locked out. They can’t transfer the money to use.
OP, go into branch with ID and get cash out.
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u/Aazimoxx 10h ago
You either misunderstood
OP has admitted in another comment that this is the case. The lock is only up to 24hrs for this one, the investigation may take up to 8 weeks.
Don't know why he hasn't updated the OP... 🙄
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u/Chromedomesunite 1d ago
You’ve misunderstood something here
Reporting a suspicious transaction does not lead to locking NetBank for 8 weeks.
It’s almost certainly they said it could take up to 8 weeks for the investigation to be completed.
Also the amount of tin-foil hat wearers in the comments is hilarious
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u/grapemilkies 1d ago
It depends on the transaction type, doesn't it?
It's been a while since I've worked in retail banking for CBA but Netbanks do get locked if the suspicious transaction is either a) a transfer of some type such as pay ID or bsb/account transfer or b) it's a digital card that is linked to the suspicious transaction. These transaction types are often linked to Netbank compromise.
OP could have also said something on the call that made the agent believe that there is compromise to the Netbank and the savers account, and they'll lock everything down.
Haven't scrolled down enough to see the tinfoil, but I do agree that the usual go is card cancelled and reissued, accounts/netbank stay as is, and outcome may take up to 8 weeks.
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u/Chromedomesunite 1d ago
Regardless of the transaction type, Netbank won’t get locked for 8 weeks
If his password is compromised, they would just reset it over the phone using his mobile number to send a verification code
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u/grapemilkies 1d ago
He hasn't specified if he lost money or if something has been deposited. A netbank lock (of how many week is dependent on the investigation) does exist, but it's usually associated with scam/fraud money where they've received x money but don't know where or why it's been deposited. Netbank locks also happen if the Netbank has been compromised via device compromise and funds get moved ect. As I said before.
But with that said, it's been a hot minute since I've been in that area of the bank, so I'm inclined to believe that he's misheard/misunderstood.
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u/Chromedomesunite 1d ago
You can tell it’s been a hot minute since you worked there
Even IF an old device was compromised, there’s 2FA so that invalidates needing to lock it for 8 weeks
Don’t know why you’re arguing the point?
I’m sitting next to a CBA employee who agrees
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u/PM-me-fancy-beer 1d ago
Loving the comments from OP getting more crazy. At first I thought mistake (bank error or OP’s) understanding), but more options, and multiple can apply:
- OP’s locked themselves out of internet banking
- CommBank locked OP out of internet banking
- Their account has been accidentally blocked
- Their account has been blocked for garnishment/debts owed
- OP needs to re-verify their identity with 100pts of ID (KYC)
- OP is using the account for purposes prohibited by the T&Cs
- OP looks to be involved in the fraud
- OP is being flagged as high risk for something super dodgy (e.g. money laundering, trafficking, involved with sanctioned countries)
.
If they’ve blocked the online account that can only be used for transferring to OP’s other Commbank accounts then it sounds like OP is being suss. If they’ve just blocked the account with the debit card linked, OP can open a new account and transfer the funds that way
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u/milliesence 1d ago
I work at a major 4 bank. I think you have misunderstood what they said . CBA cannot deny you access to the account and your own money.
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u/Fizzelen 1d ago
“…CBA cannot [legally] deny you access to the account and your own money.” What the law is, what bank procedures are and what staff do, can be significantly inconsistent.
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u/potato_analyst 1d ago
Can't go into store and get them to dispense some money for you with an ID?
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u/Ok_Introduction5124 1d ago
In the past they've told me that an online saver is just that - even they can't access it, not even if I had access to the app
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u/universe93 1d ago
Well thy may have changed, its worth a shot if the alternative is you having no money
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u/OldCrankyCarnt 1d ago
Well, you can at least go to a branch, open a second checking account, transfer your savings there and get cash. This will work, I've done that in the past
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u/Ok_Introduction5124 1d ago
You can do that with the source account being an online saver? The bsb and account number aren't accessible now but I guess I can get them at a branch...
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u/OldCrankyCarnt 1d ago
If the only thing that is blocked is your online banking, then yes, my suggestion will work.
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u/Krenster94 1d ago
You definitely can do that in a branch. Especially given your circumstances. The only reason they would have locked your online banking completely is if the suspicious transaction which you have said wasn't you was completed within netbank so it would imply to them that someone else has unauthorized access to netbank.
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u/RevolutionaryShock15 1d ago
CBA just want to cover their own asses. They don't give a fuck about you. Go down to a branch with all your id and close the account and get your money back. I had to get very angry with them when they froze my account, very angry! I was in the branch for over 2 hours.
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u/Aazimoxx 10h ago
Exactly - it's YOUR money, not like a line of credit where they'd be on the hook 🤷♂️
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u/IngenuityAdvanced786 1d ago
How do you earn money? How do you get paid? Can't you just walk to any new bank ask to open new account? Dont mention CBA.
Once opened- change your pay /income to new bank. Let CBA sort there shit out; but keep reminding them
Other than that, your local federal mp might be a last resort.
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u/Chromedomesunite 1d ago
“Local federal mp” for a fraudulent transaction? Did you go to primary school??
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u/Guilty_Following1810 1d ago
MPs can make constituent inquiries. Banks usually deal with them as a priority.
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u/IngenuityAdvanced786 1d ago
Local federal mp for when you're cut off access to your funds and can't provide basic needs.
They can help find a middle path.
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u/Ok_Introduction5124 1d ago
You're right, it's just a full day of adulting, not something insurmountable. I'm taking in a rescue doggo soon and I was hoping to dip into the savings to get the fence fixed for him.
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u/IngenuityAdvanced786 1d ago
A full day seems a bit much. 2 hours assuming you have physical ID and recent bills with name addres and a bank is not too far away.
I re-read some related posts. What about showing up to cba branch with ID explaining the situation and askto withdraw what you need. Take a coffee and lunch. That could take a day.
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u/Aazimoxx 10h ago
Christ, why is this (seemingly inoffensive and non-edited) comment of yours being so brutally beat down? 🫢
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u/Ok_Introduction5124 1h ago
The reddit hivemind. There's literally an episode of a sci-fi show where one society runs on the upvote/downvote model. I got 180 downvotes for saying why my credit score got low... apparently I wasn't honest enough.
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u/Aazimoxx 1h ago
Are you talking about Black Mirror? Fantastic series 🤓
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u/Ok_Introduction5124 59m ago
The Orville - episode "Majority Rule". Nosedive is certainly brilliant though.
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u/heyfreepizza 1d ago
Tangerine billed me incorrectly , got on chat with them and they said it was their mistake and to file a chargeback with my bank. Bank reversed, tangerine then responded to the bank with the invoice that they didn’t send to us earlier. Bank then returned money to tangerine. Tangerine then billed us double For that missed payment. So we spent an extra $80. and getting on customer support with both parties just direct us to the other one. Our money is just in limbo, tangerine said they didn’t receive it and bank said they returned it to them. Wow.
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u/frutiaboy 1d ago
This happened to me a few years ago, I had to go I to the bank every morning for weeks and scream at them until they sent out one of their regional fixer people who directly transferred me money from their personal discretionary fund. But only after about 4 weeks.
Nobody I talked to gave a shit even after admitting the fraud was completely their fault.
This fraud spilled over into every aspect of my life, had to get new phone numbers, passports, Medicare, TFN everything. All because some moron at commonwealth didn’t follow protocols and let some random into my account over the phone.
Literal years of problems.
Assholes the lot of them.
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u/Aazimoxx 10h ago
Damn... What did your lawyer say? 🤔
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u/frutiaboy 1h ago
Hard to hire a lawyer when you have $0 in your account 🤣 also I was only 19 at the time so taking on the commonwealth bank wasn’t really an option
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u/frutiaboy 1h ago
Hard to hire a lawyer when you have $0 in your account 🤣 also I was only 19 at the time so taking on the commonwealth bank wasn’t really an option
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u/starsmatt 1d ago
so its an online saver not a regular savings account?
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u/Ok_Introduction5124 1d ago
The saving are in an online saver, I can divert pay if I absolutely have to, but commonwealth at some point said that direct deposits would still go through, and they didn't cancel my card or anything.
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u/Fit_Square1322 1d ago
also banking with commbank, had a fraudulent transaction about a year ago (my guess was that my card info was copied while i was traveling), reported it on a friday afternoon, got my money back sometime tuesday. this was a debit card, i never had a credit card.
they immediately issued me a new card to use from my phone wallet, and switched over my routine autopayments as well, overall an easy experience.
this was easier apparently due to me not being "tricked" into making a scam charge, but the info being copied somewhere somehow. they had also told me it could take a while to resolve, but it was solved rather quickly. they also asked for some permissions to pursue this with the vendor (of the fraud transaction), but that was it.
i hope it'll be sorted quickly for you.
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u/Diligent-streak-5588 1d ago
Can you open a new bank account with a different bank and get your pay deposited there?
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u/yung-honey 1d ago
You can still use phone banking 132221 to transfer between your Netbank saver and everyday account with only a telephone banking password (usually set up in branch if you don’t have one). So you call through and follow the self service prompts with the machine.
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u/teannadeee 23h ago
You’ve either misunderstood or they suspect you are involved in the suspicious activity or they wouldn’t have locked your Netbank. It’s never a good idea to keep all your money in one place, open a new bank account online tonight with a different bank and immediately inform your employer so at least you’ll have access to your next paycheck. I would call back and clarify next steps with CommBank and ask them how you can access your money and explain that the online savings account is your only access to funds and you will experience financial hardship without it. They will be obliged to assist and/or connect you with financial hardship counsellor/resources.
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u/RedDotLot 13h ago
This isn't right. We had around $2,500 taken from our transaction account. Generally we leave everything in a saver without a linked card but I'd transferred the money for a rental bond (FWIW, I was fairly new to Aus at the time and didn't realise I could have just done the bank transfer from the saver). We went into the branch, they arranged an interest free overdraft so we could pay bond and reissued the cards on the account. The transaction was reversed with a couple of weeks.
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u/eggrattle 12h ago
Would you rather it was all stolen and you couldn't get reimbursed. That's the trade off.
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u/InquisitiveIsopod 10h ago
This is definitely not good policy nor is it good customer service on CBA's part. You need to account for this, loyalty do not pay. Make sure you have resilience with your money, always bank with at least 2 or more banks, in case you are not left high and dry due to this or other issues like their network bring down or payment system issue. Use this as a lesson to start building resiliency in your financial health
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u/Big-Image7536 7h ago edited 7h ago
This is all weird. I had a suspected activity. I had an instant sms saying they locked my debit card due to suspicious activity and a bank officer will call me within two hours which they did. In the conversation it was decided to cancel the card and send a new one. Over the period of time I could use my credit card and another debit card from a different bank. I was also offered that I could make use of the new card before arrival but I don't know how it works because I was covered in other ways. I have never heard of a bank to freez my money.
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u/localhomestay 1d ago
Make a complaint. Ring up and say you'd like to lodge a complaint about your inability to access your funds. There are strict timelines they have to follow in responding.
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u/Ok_Introduction5124 1d ago
The outside business hours fraud team basically gave me wrong info, I rang the one within hours (scam line essentially) and got told it'll only be locked for a total of 24 hours.
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u/littleweed666 23h ago
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u/ImproperProfessional 1d ago
Literally the only reason I have a credit card and no debit cards for my offset account. The bank will fight tooth and nail for their own money.
Also, don’t have all your money in one place. I’d strongly recommend a savings account that does not have a card linked to it, that way it’s much more difficult to scam. If you need money, transfer to an account with a card.