CBA's Transactional Offset

Existing Customer (just 26/7). I checked and double checked the fee thing. I was told no fee. I even asked what if the fee is charged in 2 weeks time and was told if I am charged come back and see him and he will make the fees go away.
By the way I would have paid the $95. If they want to waive it I'll take it.
 
Had the offset account set up today (finally) and will be working in 24 hours as I'm changing the current Complete Access to Everyday Offset - they can't waive the $95 unless I applied for a new loan.

I'm keeping MISA though, to lock parts of fund that I don't want to access at all :rolleyes:
 
So if I have multiple existing loan and top up account with CBA, say

Loan Account 1
Loan Account 2
Top Up Account 1
Top Up Account 2

and I have :

Offset Account 1

does this 'Offset Account 1' offset all Loan and Top Up accounts above? or do we need to tell CBA or Broker which to Loan and Top Up account to offset to ?
 
Fee waiver

Currently, I put everything into homeloan and use CC's for expenses, moving cash out of HL as required in $500 min chunks. Would prefer this offset account as it would save me having to move things around, but not really worth the $95 fee IMO.

Noticed one poster has had fee waiver. Would be keen to hear of any other EXISTING CBA clients that have been able to transition their normal everyday account to this new offset account AND had the fee waived.

:):):)
 
I'm applying for an increase in my LOC at the moment and getting them to set up the transactional offset while I'm at it. I'll try and get the fee waived and post back if I'm successful :rolleyes:
 
Noticed one poster has had fee waiver. Would be keen to hear of any other EXISTING CBA clients that have been able to transition their normal everyday account to this new offset account AND had the fee waived.:):):)

Tell them that you are currently exploring your options via a broker and may be persuaded to stay put if they can waive the fee!
 
Tell them that you are currently exploring your options via a broker and may be persuaded to stay put if they can waive the fee!

Had a long chat with my local branch today about this. They made a few calls etc. Their position was that there was no way of avoiding the fee unless there was new borrowings of 150k min. They have allowed those with loans applied approved since AUG 1 to have the fee waived as that was when they started promoting it.

Still hoping to hear from others who have had more luck with the waiver!

:):):)
 
Existing Customer (just 26/7). I checked and double checked the fee thing. I was told no fee. I even asked what if the fee is charged in 2 weeks time and was told if I am charged come back and see him and he will make the fees go away.
By the way I would have paid the $95. If they want to waive it I'll take it.

Was the 26/7 when your loan funded with them? As mentioned below if it was after the 1/8 it is waived.

In your case I would say the fee will be charged if its before the 1/8 and it will be on the branch to refund the fee, pending how many of these the branch is doing they might get a please explain after a while :)
 
Their position was that there was no way of avoiding the fee unless there was new borrowings of 150k min.

Unfortunately that was my experience too. As advised via email by my lender "The $95 fee on the transactional account is waived for any new or existing customers taking out a new borrowings of $150k plus. Unfortunately there is no delegation to waive this fee."

Oh well. Still going to get the offset regardless.
 
My girlfriend and I went into the bank (Joondalup, Perth) and set ours up at the counter (9/10)

No fee at all (I am a Wealth Package member) do not know if that makes a difference.

Also we did not have to set it up the EDO account in joint names the same as our loan name.... just kept it in my name.

It is now set up as a Everyday Offset Account on my netbank.......
 
I'm not sure if this has already been mentioned, but the $95 fee does not apply to existing customers who set up a new loan over $100K after 1st August 2013.

It DOES apply if you are not borrowing any new money, or are borrowing new money under $100K.

I just found this out from my broker this morning, as we've just topped up one loan and opened a whole new loan for our new PPOR purchase, and are setting up 4 transactional offset accounts against the PPOR (i like separate accounts for separate purposes).

Just thought it might be welcome news to some :)
 
Currently, I put everything into homeloan and use CC's for expenses, moving cash out of HL as required in $500 min chunks. Would prefer this offset account as it would save me having to move things around, but not really worth the $95 fee IMO.

Noticed one poster has had fee waiver. Would be keen to hear of any other EXISTING CBA clients that have been able to transition their normal everyday account to this new offset account AND had the fee waived.

:):):)

I got the fee waived just the other day, they said they were in an introductory period where they were waiving the fee for existing customers.

does anyone know how to tell if your complete access is offsetting when i had a look it seemed like nothing had changed in netbank? im leaving most of the funds in the misa till i know for sure.
 
im sparticus

Go to accounts, view account info, select your complete access acc, scroll down and it will say bundle arrangements and details. In that box will be a pdf you can click on and this shows which loan number the offset is attached to.
 
I moved across to the Everyday Offset a few weeks ago now - and have yet to see the $95 fee appear. I did not ask for a fee waiver so maybe it's automatic for a short period of time?? Either way, i'm very very happy.
 
When I set it up, they said the account will be charged 2 weeks later, which for me is.. today... with minus 2 x $95 in the account and additional $0.1 interest charged due to the $95 excess. $95 is refunded after 5 mins call, but interest need to go through other processes. so I let it go
 
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