What to Look For Before You Operate a NetBank Online Account: An Independent Research Report
While internet bank accounts can be extremely convenient and even sometimes help you earn more interest, you have to make sure you get the right one. Compare the most common features of internet bank accounts and decide which ones are most useful to you. (Feel free to peruse the options provided by our advertisers and support our independent research.)
Key Considerations for Banking with NetBank
Getting Started
If you are a Commonwealth Bank personal account customer and have either a Credit Card or keycard and a telephone banking password, you can register online, which should take no more than five minutes. You can also register over the phone by contacting the NetBank Help Desk available 24 hours a day, seven days a week.
Logon Access to Your Account
Logon access to NetBank is as easy as entering your Client Number (user ID) and password. If you have forgotten your Client Number, NetBank will use your credit, debit, or keycard details to identify you. If you have forgotten your password, you can reset or unlock your password online by entering your Client Number.
Charges
There are no NetBank service charges for unlimited use of:
- Account balance and transaction information
- Transfers to a customer’s own linked accounts
- BPAY payments
- Third-party payments, except payments made using a transfer group
- Netbank’s scheduling service to set transfer or BPAY payments to occur on a future date
NetBank offers the flexibility of two pricing options, a Standard Plan and a Business Plan. For customers on the Standard Plan, if a service charge applies to a transaction you are about to make, you will be advised on-screen beforehand. The Business Plan allows you to conduct unlimited third-party payments (including third-party payments within a transfer group) and file imports for a nominal charge.
For all NetBank customers, standard withdrawal charges may also apply to third-party payments, scheduled payments, transfers between linked accounts, BPAY payments and international money transfers.
Internet Shopping
Secure Internet Shopping is provided through the MasterCard SecureCode programs. By registering for it you can enjoy increased security when using your MasterCard or Visa at participating merchant websites.
Once you’ve registered for Secure Internet Shopping, when you make a purchase with a participating merchant, you will receive a Commonwealth Bank dialogue box request to enter your SecureCode – just like entering your PIN at the ATM to validate the transaction.
Security and Privacy
Every computer used to access Internet Banking needs Internet security software to protect you from financial crimeware and safeguard your online identity. The software should include:
- Anti-virus – helps prevent financial crimeware from damaging your computer
- Our recommendation:
- Anti-spyware – helps protect your computer from crimeware that may attempt to monitor what you’re doing online
- Our recommendation:
- Firewall – helps monitor information going in and out of your computer to prevent unauthorized access
- Our recommendation:
Netbank clearly states that the safety of your money is “100% guaranteed.” We understand this to mean that NetBank will cover any loss should someone make an unauthorized transaction on your account – provided you protect your Client number and Password, and immediately notify NetBank of the loss, theft or misuse of your password and of any suspicious activity on your account.
[Important note: Netbank.org is not affiliated with Netbank of Commonwealth Bank of Australia in any way. We are a research site only. All information was deemed accurate at the time it was researched - please verify all facts directly for complete accuracy.]