CBA's Transactional Offset

Finally CBA has set a date of August 8 to roll out a fully transactional offset account. This brings them in line with other lenders and more importantly will save a lot of time for investors.
 
It's bizarre that it's taken them this long to provide something that's quite common among the competition.

The MISA was a bit of a pain - you can work around it, but it will be good to see them introduce a normal offset account.

Cheers

Jamie
 
It's obviously not an IT issue it's just that they don't want people to get the full benefit of offset interest.

Sadly, I don't think this is particularly uncommon with business who already have a decent market share. (Eg. Telstra, Apple)
They all seem to hold back innovations and services that their competitors already offer and drip feed them to keep (/make) customers and investors happy at key times,
 
I'm just waiting to see cba come out and say yes we have the offset, it cost us $XX Million to get it done...

How they get a return on the investment...
 
in reality, I dont think it really matters that much......... its a dog, but has specific and exclusive uses............

and if you use Netbank (if you are game to) then there is 2/3rds of bugger all interest lost.

having said that, in a Kentrucky Fried, McDonalds, anf Facebook instant world of convenience, selling the current MISA concept per se is sometimes just a little hard.

ta
rolf
 
in reality, I dont think it really matters that much......... its a dog, but has specific and exclusive uses............

and if you use Netbank (if you are game to) then there is 2/3rds of bugger all interest lost.

having said that, in a Kentrucky Fried, McDonalds, anf Facebook instant world of convenience, selling the current MISA concept per se is sometimes just a little hard.

ta
rolf

Agreed don't think it's a massive change,

But end of the day it's something that competitors offer, CBA has such a focus on being #1 in customer service in it's technology it has to have things like this.

Me I've got used to my MISA it's just a savings account, even when it goes transactional I want have it as my everyday account. Like to keep it separate, suits my budgeting :)

You have difficulties with netbank?
 
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