CommSec Reviews 30

Totally useless waste of time now I have to to the bank to sort out

During my withdrawal process, they requested extra charges before releasing the assets, which seemed unreasonable, but Meazontrëls_ intervened and I got my money back.

Would not reccomend at all. Very confusing user interface. Signed up and created an account. Made my first purchase and was unaware of where I needed to make the payment to. Received a call from commsec who were chasing up the payment. After a complicated phone call I gathered I needed to set up a clearing account. I did this within 24hrs and transferred the money to that account, the money was debited and I was under the impression all was good. But now commsec have cancelled my account which has also blocked access to the clearing account which still has my money in it. The customer service on the phone is extremely unhelpfull.

I've been a CBA customer since 1963 starting with school banking. I opened a CommSec account online when it first became available and have traded tens of millions of shares (and quite a lot of fees for them). I have owned public company shares since 1969 (an inheritance then).

i used CommSec due to ease of movement of my funds to/from the CDIA account for my company, an the good online tools such as research data and reports.

Late last year, I received a form letter via email saying that I was no longer going to be a customer. I now live OS though the company has a NSW head office.

There was no discussion, just a blunt and rather rude form letter saying that I could not buy securities any more and only sell existing shares. Well, they even failed to process a sell order I tried to make.

I changed broker and CommSec did everything they could to NOT cooperate despite not wanting my business. I had over AUD600k in shares at the time. it took a few months and my share portfolio was in limbo for some time.

CommSec's service used to be quite okay despite a few know all staff members. Even before the change, they took days to answer emails and the phone took two hours to be answered.

I found out later that all OS based customers had been cut off despite nobody giving any reason nor appreciation for past business.

Account balance looked fine, but withdrawals failed repeatedly. Support was frustrating. 🄶🆁𝓔🆈𝓞𝓧🄷🆄🄱🆂 helped recover it.

took over 1 year to try and set up a commsec account but in the end they were unable to do it despite all the documents I sent to support my application

I've been with Commsec for many years, just discovered that email support queries take at least 2 business days.

Given the nature of share trading, you expect at least a response within 1 business day, 2 days is too late.

In this instance I've had additional effort to fix stuff now because the ticket I raised wasnt looked at after 2 days

I recently asked CommSec why there is a limit of trading some ETF such as ETPMAG Good For Day only and received answers which expose how bad CommSec staff is telling and treating their customers.

CommSec told me that it's due to Computeshare which is only a share registry and has nothing to do with buy and sell order. Another excuse is ASX. CommSec claims that the Good For Day limited is due to Computershare and ASX which is totally untrue.

1. Computershare is only a share registry.
2. ASX doesn't have this limit because other broker (such as Betashares Direct) allows same ETF to trade up to 30 days.

I think this is a limit solely placed by CommSec to protect the company but they won't tell their staff or customers.

Very awkward website and app. Sometimes it works. Sometimes it doesn’t. Not intuitive. International shares are very difficult and even their staff don’t know what they are doing.

I’m extremely pleased with the service from -A--u--r--e--a--t--e- -R--o--u--t--e- . Everything was handled efficiently and without stress.

The problem was with Commsec International Office. There were unclear instructions to sign up. Troublesome phone calls usually gave unhelpful answers. The name of the person was false on one clear occasion. After a formal complaint, I got through to a man who gave patient answers. It took a couple of weeks with many frustrations. Then I had to get more info as to how to proceed between the many possible Action Titles on each of several pages. Finally, as an example of their own ignorance, I tried to buy shares which I had been repeatedly told was impossible ("Sorry. Merry Christmas. Have a good New Year". Quite insulting). After about a month, I just tried, and Lo, no problem. Could I resell? Tried, no problem. So it is run by people who lack elementary knowledge of their product.

I can use their platform OK now - but getting there...!!

I am a Commbank customer and getting money back via their Wallet system is OK. But not sure how it works if you are not linked by the bank.

The people should learn how to help by imagining the person enquiring needs step by step information. They should feel the need to explain patiently.

After months of empty promises and no progress on my withdrawal, Leinș felder took over and handled everything efficiently.

SAM on the service phone was friendly swift and pro level. Was very happy and reasured by his great help.

Excellent process to RING BACK..instead of customer holding on💕💕💕💕💕.
Your phone consultants are outstanding..THANK YOU SO MUCH.
PHIL McRAE.

If I could give o I would
Just theifs rubbish
you buy shares ask for a price and charge you more for the asking price then you own them more money apparently
They don’t have a automatic buying option that’s detailed on the first screen with amount deductible then they do everything behind closed doors which is illegal price and all expenses detailed all in one screen anyway the last straw was they sold my own shares just coruption no other broker sells your shares worst broker I have seen
Don’t even bother biggest thief’s in the industry shame on you Comsec

Zen Tri Coups was my rescuer, getting back my lost funds and saving me.

My mother died and i have been trying to assist my father who is visually impaired to sort out his accounts with Commbank and Commsec for the past 4 months. He has been locked out of his accounts for the past 3 months. That included his superannuation. Commsec didnt bother to tell him. He found out when he went to sell shares. Over 11 calls to the call centre over a period of 3 months, on hold for 45mins on average. Four appointments at the CBA branch for over 1.5hrs each time. Still no resolution. Each time you speak to a different person so you start from scratch despite the fact that you request to speak with the last person you spoke to an hour ago. No one operator knows the end to end process so they put you on hold for up to 20mins at a time to speak to someone else and each time you get either the wrong answer or a different answer. This is the most inefficient organisation I have ever dealt with. Their demands for endless paper copies and forms knows no boundaries. Everyone apologies but no one is empowered to actually assist.

Commsec does not deserve even 1 star.
Possibly the worst experience in my 30 years as a tax specialist and finance professional.
I’ve dealt with most fund managers and banks in my line of work, and Commsec is off the charts with incompetency and difficult to deal with.
We have tried for more than 7 weeks to transfer our shareholdings to another Broking platform and Commsec keep blocking our account , sighting pending requirements that we’ve repeatedly answered. Talking on the phone is hopeless: you are made to wait 30-60 minutes and when you finally get through, the staff are incompetent and don’t understand, it appears, even basic things regarding structures or client queries . When you ask to speak to their manager / supervisor, it’s not permitted. You ask that said manager/supervisor call back and the turn around is quoted as 48 hours …but in reality never occurs. Absolutely appalling. They act like the shareholdings are theirs and for them to control, with the actual owner - the client - completely helpless.
We’ve reported them to AFCA.

I am the executor for an estate for which the deceased held an account with Commsec and for which for the last 4 months since getting probate I have been trying to get the shares sold and to receive the money. Never have I experienced such incompetence as I have with Commsec. What should be a simple matter has been made almost impossible by their slow responses, pedantic paperwork issues and sheer incompetence. Avoid Commsec at all costs!

Seit Wochen spamt mich diese Firma mit E-Mails über meine angebliche CommSec Client ID zu. Jeden Tag senden die diesen Mist zu. Natürlich bin ich bei denen kein Kunde und habe nie meine E-Mail bei denen bestätigt. Antworten geht nicht und eine Kontakt-Mail wird nicht angeboten.