This was posted 10 years 10 months 26 days ago, and might be an out-dated deal.

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Open CBA My Wealth, Deposit $1,000, Leave it There for 4 Weeks, Get $50 Free Bonus

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Open CBA My Wealth, Deposit $1,000, Leave it There for 4 Weeks, Get $50 Free Bonus
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jamestownfx on 19/06/2013 - 19:14 mywealth.commbank.com.au (3971 clicks)
Last edited 22/06/2013 - 16:30 by 1 other user

On phone, but saw this offer. Similar to previous open a CBA account and get $50 bonus.

For this one you have to open a My Wealth account (takes 2 mins for existing CBA) and 'make a trade' or maintain a balance of $1,000+ for 4 weeks.

You also get a free debit mastercard that you can use with the account, which means no booking fee when not actually being able to book a jetstar deal.

*$50 bonus cash offer is available only to new MyWealth customers who open an account via the link on this page and make a trade by the offer expiration date of 31 July 2013, or deposit a minimum of $1,000 into their MyWealth linked Commonwealth Direct Investment Account by no later than 31 July and maintain a balance of at least $1,000 for a 4 week period. The offer is only applicable to one new MyWealth account and is not transferrable. We reserve the right to terminate this offer or amend these terms and conditions at any time without notice. Normal MyWealth terms and conditions apply unless otherwise specified here.

Edit: Title updated for sssx :)

22/6: T&C's have changed. Only available to those who received email

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closed Comments

        • spendinghacker on 13/08/2013 - 14:34

          Agree with first point (paragraph) but disagree with second.

          CBA is far from being the best account for using while overseas or for sending and receiving wire transfers via SWIFT. I would actually say it is one of the worst

        • SummerMan on 13/08/2013 - 14:37

          Can you recommend a better alternative for telegraphic transfer?

          NAB? = limited internet banking functionality (no security token/lower limit)

          ANZ/WESTPAC = no fee free account

          If it is not part of the big four, it is unlikely to have a big network.

          HSBC/Citi? = They just use their own networks. Exchange rate is not that good but the transaction may be free (=no fixed transaction cost).

        • spendinghacker on 17/09/2013 - 17:59

          Citi does not use their "own network". Not sure what you are referring to.

          They use the SWIFT network all other banks use.

    • c64 on 13/08/2013 - 14:41
      +1

      i can't possibly imagine commbank being competitive at anything

      • SummerMan on 13/08/2013 - 14:44

        They are a few thing that a big player can do better than a smaller player…
        ATM network, for example.

        Ripping people off with fees… is the other side of the coin

  • Sydney84 on 13/08/2013 - 21:02
    +1

    i didnt get $50 bucks. should i call them ?

    • test123123 on 15/08/2013 - 11:16

      Same here, what is going on ?

      • danishcookie on 15/08/2013 - 22:02

        same here I opened a case with them.. can anyone give me the old screenshot with June T&C's? Thanks

    • mrgeckoz on 17/08/2013 - 01:19

      my partnet opened account on the 21st before t&c been changed and still havent got the money.

  • thydzik on 16/08/2013 - 21:39

    made the deposit on 04 Jul 2013, still waiting.

  • Homme on 22/08/2013 - 13:59

    Well I like many others still haven't received the $50 cash back. So I decided to make a phone call and find out what's happening.

    Today I received a phone call from CBA from a guy that initially took my inquiry and was told that the department running this promotion has decided that I DO NOT qualify for the cash back due to some code that wasn't entered on their end during the application process.

    The CSO has escalated my complaint to someone superior to his department and now I'm awaiting there answer.

    I made the deposit 5 July 2013.

    • SummerMan on 22/08/2013 - 14:36

      They have 45 days to look into the matter:
      http://www.fos.org.au/

      • yargnairod on 26/08/2013 - 07:02
        +2

        The CBA has ZERO case. This is a company that made $7.8 Billion last year but that is largely irrelevant.

        The facts.

        a) They advertised a promotion on their own website (logon screen in netbank) on an open link so it clearly was intended and not a typo.

        b) They for whatever reason decided that their open promotion was attracting the wrong kind of people and changed their terms and conditions AFTER many people had registered. Their amendments don't even make sense to people who followed the link direct from the netbank page as I did. It's false advertising to say that you can open with a $50 bonus but exclude certain people.

        c) They have taken your $1k for a month and decided not to pay a fair interest rate on it. Switch and Bait if ever I saw it.

        I'd make a big fuss over it. I'm not the kind of person that would punish smaller companies for typos or mistakes but this is different.

        • SummerMan on 26/08/2013 - 07:58

          Totally agree but you need to follow the procedure.

          First, contact CBA to give them a chance to fix/investigate the problem.

          The rule says CBA has upto 45 days but if they concluded your case quickly you can move on to FOS.org.au. Good luck!

        • yargnairod on 29/08/2013 - 07:26

          ignore. Posted below

    • INFIDEL on 01/09/2013 - 18:56

      Got the same response on the $100 for opening an Everyday account agaes ago. After many complaints at the branch, with this escalated my complaint nothing was done. Finally went into Brisbane CBD Branch. They discovered "code not entered" by staff member when I had set up account. No one wanted to admit to their error & pay out $100, so my complaint kept being "investigated". Finally got a "goodwill payment" of $100 - about 1 year later!

  • Talonparty on 26/08/2013 - 13:36
    +1

    I'm waiting for this one too but I think I missed out. I have a targeted email in my inbox and this is in the T&C (seems different to OP even though I got the mail on 19/06):

    *$50 bonus cash offer is only available to new MyWealth customers only who open an account and make a trade by the offer expiration date of 31 July 2013, or deposit a minimum of $1,000 into their MyWealth cash account (CDIA) within 4 weeks of receiving the offer and maintain a balance of at least $1,000 for a 4 week period (ending no later than 31 July 2013). This offer is only valid for the addressee of a MyWealth email or direct mail offer and is not transferrable. The offer is available till the 31st July 2013 and is only applicable to one new MyWealth account. We reserve the right to terminate this offer or amend these terms and conditions at any time without notice. Normal MyWealth terms and conditions apply unless otherwise specified here.

    I think I screwed up, I activated on 20/06 but only transferred on 24/07 (I was on holiday and didn't realise I'd forgotten about it until then). Wasted the money in the account for 4 weeks before double checking the terms, my fault :(

    edit: Actually, reading the T&C someone else saved earlier I might try my luck, seems a bit underhanded of them to offer different T&C depending on where you look. I will post any updates here.

    • yargnairod on 29/08/2013 - 07:32

      I opened up my account 20/06 (I think. It's hard to check now).
      Transferred money 25/07 (one day later than you)
      Bonus paid 28/08. If you don't eventually get it complain but it is too early to complain as they don't pay it straight away

      The only way they could tell is if the link in the email is different to the open link that everyone else got (I doubt it though)

    • INFIDEL on 01/09/2013 - 19:05

      Got same 19/6 email. Didn't realise conditions were different to those posted (deposit a minimum of $1,000 into their MyWealth cash account (CDIA) within 4 weeks of receiving the offer) - deposited after 4 weeks thinking I had till the 31st July 2013. So no $50 :(

  • Kenji168 on 26/08/2013 - 16:57
    +1

    There is no $50 bonus. CBA is a joke.

  • lusicul on 29/08/2013 - 15:27

    Just got off the phone with Mywealth and was told I don't qualify for the $50 because there was no code entered with my application.
    Does anyone have a screenshot of the original offer (prior to change of T&C)? I think I might have accidentally deleted my screenshot from computer, can't find it anywhere. TIA

    • spendinghacker on 29/08/2013 - 18:13

      For your's and everyone else's benefit, there it is

      • lusicul on 29/08/2013 - 21:41

        Thank you :)

    • jon on 06/09/2013 - 09:22

      Spoke to them using the chat function on the mywealth site. Apparently I didn't have a code entered with my application either but the guy spoke to his manager and they manually put the request through to get the $50. Worth giving it a shot if you still haven't received it (they have to call you and verify your identity before they process it).

  • luker9001 on 29/08/2013 - 20:29

    $50 showed up yesterday.
    Thanks OP!

    • knackers on 04/09/2013 - 10:33

      When did you deposit the $1000?

  • cosmic on 08/09/2013 - 12:23
    +2

    deposited Jul 31, withdrew Sep 1, got bonus Sep 6

  • Talonparty on 12/09/2013 - 18:32

    Just want to report back that after my doubts above, I managed to get the bonus today :)

  • thydzik on 16/09/2013 - 20:26

    doesn't look like this once will be paying out for me.

  • edzknows on 17/09/2013 - 09:29

    I havent got mine yet either…

    • edzknows on 11/10/2013 - 21:11

      Got mine after speaking to them through live chat.
      Also was told that "said for some reason the referral code was not passed through."
      they sent the money after a few days, and checking with the manager or whatever..

  • wa01 on 17/09/2013 - 15:34

    Also no $50 from CBA, even after arguing that the stated offer was on a publicly accessible webpage (which I offered to spell out to CBA) and which said nothing about an email link on it. I closed x4 cba accounts immediately following their cr*p, so was worthwhile afterall.
    Edit: Suggest you do the same :^)

    • knackers on 17/09/2013 - 17:18

      I received my $50 yesterday after calling them twice… FYI the ad popped up on netbank

  • lusicul on 18/09/2013 - 15:45

    Got mine last week after speaking to a very helpful mywealth cs via live chat. He manually requested the $50 to be credited into my account. Apparently there was no promotion code entered into my application.

  • thydzik on 20/09/2013 - 13:29

    called Commonwealth bank, asked me how I found the link, mentioned on a banner, said for some reason the referral code was not passed through.
    said I passed the criteria and would process the $50 manually, should be within two weeks.

    • thydzik on 04/10/2013 - 11:55

      finally received it.

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