This was posted 11 years 5 months 13 days ago, and might be an out-dated deal.

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FREE $50 for Opening CBA GoalSaver Account

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FREE $50 for Opening CBA GoalSaver Account
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luker9001 on 22/05/2013 - 21:51 commbank.com.au (7441 clicks)
Last edited 23/05/2013 - 14:07 by 1 other user

Just got some physical spam today, showing that the recent trend of banks giving us free money is still well and alive.

Basically open a GoalSaver account, leave it empty (because their interest rate is pathetic) until just before 11.59pm AEDST on 26/07/2013, transfer $200 into it, then transfer it out the next day and wait patiently for $50 to be credited to your account by 19/08/2013, then close the account, ready to take advantage of the next round of free money!

Copy pasta of full terms and conditions on the website:

*Rate includes a variable bonus interest rate of 3.65% p.a. above the standard variable interest rate of 0.75% p.a., which is paid on account balances up to and including $100,000 if the closing balance on the last day of a calendar month is at least $200 higher (excluding interest earned) than the opening balance on the first day of the same month, with no more than one (1) withdrawal in the same period. The standard variable rate of 0.75% p.a. will apply on any portion of the balance over $100,000. The above rates are current as at 21.05.13 but are subject to change at the Bank's discretion. A maximum of two (2) GoalSaver accounts per customer can be opened.

^Offer only applies to customers who open a new GoalSaver account by 28/06/2013, deposit $200 or more into their new GoalSaver Account by 11.59pm AEDST on 26/07/2013 and retain a balance of at least $200 in their new GoalSaver account as at 11.59pm AEDST on 26/07/2013. You will be ineligible for the $50 offer if your account is closed, transferred or in default at any time prior to the $50 being credited to your account. $50 will be credited to your account by 19/08/2013. A maximum of two (2) GoalSaver accounts per customer can be opened. A limit of one (1) $50 credit per customer.

This advice has been prepared without considering your objectives, financial situation or needs. Because of that, you should, before acting on the advice, consider its appropriateness to your circumstances. Terms and conditions for transaction and savings accounts mentioned are available here (PDF 660KB). Please read our Financial Services Guide (PDF 60KB).

Mod: Terms and conditions have been altered from the above description. It now reads:

Offer only applies to selected CommBank customers who were sent the communication for this offer and who open a new GoalSaver account by 28/06/2013, deposit $200 or more into their new GoalSaver Account by 11.59pm AEDST on 26/07/2013 and retain a balance of at least $200 in their new GoalSaver account as at 11.59pm AEDST on 26/07/2013. You will be ineligible for the $50 offer if your account is closed, transferred or in default at any time prior to the $50 being credited to your account. $50 will be credited to your account by 19/08/2013. A maximum of two (2) GoalSaver accounts per customer can be opened. A limit of one (1) $50 credit per customer.

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closed Comments

  • tsunamisurfer on 22/05/2013 - 23:11
    +1

    Someone has to pay for my Sennheiser Addiction.

  • Newtz4 on 22/05/2013 - 23:14

    Very tempting….

  • danzan on 22/05/2013 - 23:15
    +1

    Just chucked in $200 now, I think I can live without touching that for a few weeks… However it didn't show up next to my usual next bank saving accounts instantly (and the money hasnt come out yet) - is that normal?

    • gudetama on 22/05/2013 - 23:24

      Same here for me

      • abc on 22/05/2013 - 23:37

        Took 10-15mins for me. NetBank is probably getting OzBargained :P

  • skayper on 22/05/2013 - 23:16

    Cant sign up. Keep getting this:

    "Sorry!

    The accounts applications forms are temporarily unavailable.

    Please try again later.

    • tendliya on 22/05/2013 - 23:22

      Did you do it through your netbank? I have just done it and it worked fine.

      • skayper on 22/05/2013 - 23:40

        Yeap.. No success

    • ozscharfschutze on 22/05/2013 - 23:25

      getting the same error message too.

      • Newtz4 on 22/05/2013 - 23:33
        +1

        Ozbargained!

        • easternculture on 22/05/2013 - 23:38
          +1

          works fine through netbank

          took me less than 1 min to open one

  • [Deactivated] on 22/05/2013 - 23:37

    Will opening two new accounts affect my credit rating? (And then closing them)

    I have ME bank and now CBA

    • abc on 22/05/2013 - 23:38
      +1

      No only credit cards.

      You are saving/using your own money with bank accounts / debit cards.

    • spendinghacker on 23/05/2013 - 11:15
      +2

      Bank accounts of ANY KIND that do not involve borrowing do NOT have any connection to your credit.

      I don't know how this stupid myth was started but it is well and truly time to bust it once and for all!

  • c64 on 22/05/2013 - 23:43
    +1

    does a goal saver account have to be linked to some other cba account, or is it a stand alone product?

    • Windows7forever on 23/05/2013 - 10:26

      Would like to know this too. Just recently closed all my CBA accounts because I was getting pawned in fees and charges.

  • kyeol58 on 22/05/2013 - 23:44
    +2

    wasnt interested in online banking at all until tonight,
    signed up to this $50, made an account with ME bank for the $50 and am signing up for the 5% ING payback card.

    OH OZBARGAIN look what you've made me

    • cpho on 23/05/2013 - 00:21

      $100+ richer?
      I thiught so too :D

    • spendinghacker on 23/05/2013 - 11:16
      +1

      Welcome welcome my friend. Better late than never (-;

  • songfish on 22/05/2013 - 23:44

    Thanks OP

  • illz on 22/05/2013 - 23:44

    Sorry guys, a bit slow here..

    Can I transfer 200 now and still get the 50 bucks?

    I just registered in netbank still cant see a new account among my other accounts in my list.. In fairness only waited 5 mins.

    • tendliya on 22/05/2013 - 23:50

      I opened the account about half an hour ago and wasnt seen then in netbank. I just checked now and can see it. Give it half an hour or so I guess.

    • c64 on 23/05/2013 - 00:12
      +2

      someone in india is probably hard at work processing your application right at this very moment

    • No ONE on 23/05/2013 - 00:16

      U can only see it after u log off
      :d

  • illz on 22/05/2013 - 23:51

    I just logged out and in. All good :) see it now

    Did you schedule money in?

    • tendliya on 22/05/2013 - 23:58

      I wont schedule it. I will do it myself.

    • Graffin on 23/05/2013 - 00:12

      Applied in NetBank and account opened in less than 5 mins.

      I scheduled $200 to go in on July 20th just in case I forget!

      That was easy… thanks OP!

      • PissLUR on 23/05/2013 - 00:54

        22nd july is better. 20th is a saturday

        • issh on 23/05/2013 - 01:30
          +1

          It's instant anyways

  • mysticturtle on 22/05/2013 - 23:58

    I already have a Complete Access and Netbank Saver with about $2.5k in total but I tried signing up for a Goal Saver and I got this message "Sorry, you're not eligible to apply for this product. Please select another account type." Any idea why guys? :(

    • montorola on 23/05/2013 - 00:08

      Maybe cause you already have a "Saver" account?

    • illz on 23/05/2013 - 00:10

      No idea.

      I have a Netbank Saver, Visa and 13k in savings it worked for me.

      I went ahead and put 200 in now, nice and early, wasn't doing anything with it anyways..

      • sparkles on 23/05/2013 - 10:01

        I have Smart Access and Netbank Saver and had no problems opening the Goal Saver via NetBank.

  • rekabkram on 23/05/2013 - 00:08
    +1

    Cheers, easiest $50 ever. Literally took me less than a minute and I'll transfer some money when it becomes active and just keep it over $200… Cheers luker9001

  • mowse2 on 23/05/2013 - 00:17

    Does anyone know when will the 0.75% bonus interest expire?

    • theoracle30 on 23/05/2013 - 00:28

      0.75% is actually the standard rate. The 3.65% is the bonus interest, and I believe it stays on your account as long as you keep to the $200 overall deposit per month conditions.

      • Future Kids on 23/05/2013 - 10:18

        Bonus interest apply if the closing balance on the last day of a calendar month is at least $200 higher (excluding interest earned) than the opening balance on the first day of the same month, with no more than one (1) withdrawal in the same period.

  • gm3stevens on 23/05/2013 - 00:18

    Thanks luker9001.

    Easy money!

  • unity1 on 23/05/2013 - 00:31
    +3

    Opened my account and received this in an email, "First deposits are crucial to get your account up and running however we have not received any funds deposited into your account"

    They want my money NOW. Sorry CBA you still have to wait another month. Oops, sorry make that 2 months.

    • luker9001 on 23/05/2013 - 02:05

      Only fair considering they're making you wait 3 months. :P

  • randomnade on 23/05/2013 - 02:12

    For some reason:

    The accounts applications forms are temporarily unavailable.
    Please try again later.

    :(

    • tikei on 23/05/2013 - 02:19

      i just submitted mine, haven't received confirmation yet though.
      u try again!

  • Ruprect on 23/05/2013 - 04:16
    +1

    Has anyone rung them and checked to see if this is a targeted offer or open to everyone. I ask because if I go to the website and click on latest offers the $50 does not show.
    I end up at this page..
    http://www.commbank.com.au/personal/accounts/savings-account…

    Edit: Just rang myself and this is a targeted thing. The lady said it is offered to a group of customers, not the general public.

    • kiwipride on 23/05/2013 - 06:06

      You rang at this time of he morning?

      • Ruprect on 23/05/2013 - 06:09

        Yes and the lady sounded wide awake.. They are there 24/7

        • kiwipride on 23/05/2013 - 06:13
          -3

          aMAZEballs.

    • ciab on 23/05/2013 - 08:07
      +1

      I just googled the following "CBA goal saver account" and the first ad on google was for CBA pointing to this address: http://www.commbank.com.au/personal/accounts/savings-account…

      So it looks very much open to the public to me.

    • m00c0w on 23/05/2013 - 08:26

      I think the operator was misinformed if that's the advice you were given. The offer is on the CBA website and is open to all. From what I can see, there are no restrictions as to who can apply.

    • cloudy on 23/05/2013 - 11:06

      thank you for clearing this up, i checked mine too, i have no such offers, no mention of the $50…

    • spendinghacker on 23/05/2013 - 11:20

      Incorrect.

      Offer is open to the general public. Nothing in their T&Cs suggest otherwise. Unfortunately (and no disrespect to any bank employee on this forum) most staff in banks are completely clueless.

  • Candour on 23/05/2013 - 05:26
    -6

    actually it may be better to be constructive and take on the new accounts when you can set them up.
    we undermine jobs for citizens by robbing banks.
    the directors will not suffer.
    their staff will when these offers are abused.
    we are not out of the woods of the big bad recession.
    so we should shop and benefit from such offers constructively without hurting citizens caught in our greed.
    otherwise we could go and complain about the fly in our soup after the meal.
    these things create bad karma if we believe such things in our atheist dualistic world views

    • SBOB on 23/05/2013 - 08:22
      +2

      their staff will when these offers are abused

      the budget for such payments doesnt come from 'employees' wages..
      There would be 'advertising budgets' etc and this would come from such a pool

      in summary, ha ha

  • peterlong1952 on 23/05/2013 - 07:39

    Just opened one now, no problems. Already have a Goal Saver account so a 2nd one will be good. And the $50 bonus. Last time I tried to open a 2nd account I didn't get the bonus interest. We will see what happens now.

  • draistlin on 23/05/2013 - 07:57

    Spoke to them last night and was informed that this deal only applies to new customers, pretty annoyed but will call them again as under t&c doesnt specifically prohibit existing customers, so might try and get them there.

  • sraymond on 23/05/2013 - 08:13
    +1

    It will be the same as most fresh offers. Staff at call centres will give varied replies depending on their interpretation of the T&C's.

  • vl3tbol on 23/05/2013 - 08:24

    can u able to close the account online? or you need to go to the branch?

    • whitenite on 23/05/2013 - 08:46
      +2

      I think you need to call. I just closed a Mastercard acc with CBA last week. No hassle.

  • Pandabargain on 23/05/2013 - 09:25

    opened one thanks

  • test123123 on 23/05/2013 - 09:53

    Thanks, all good. Open one!

  • BeRealistic on 23/05/2013 - 09:57
    +1

    Question - Is it one account per household or can I sign my whole family up for this? Also how easy is it to close accounts? Call or online?

    • mopsis on 23/05/2013 - 10:05

      One per customer. pretty sure it's linked to customer ID's. Make sure you don't make them joint. opened one for myself and one for the better half. easiest $100 I've made…

      Off to ME bank now….

      • Maz78 on 23/05/2013 - 11:36

        Did the same thing. Setup one for my account and one for the mrs. Free $100! Might have a nice dinner with the wife on CBA!
        ;)

    • wanderingoz on 23/05/2013 - 10:06

      Well I have opened 2. One for me and one for the wife. Didn't have any problems opening either account. I already had netbank but she didn't.

      • BeRealistic on 23/05/2013 - 10:09

        thanx for the reply, time to sign up the whole family.

        • spendinghacker on 23/05/2013 - 11:23
          +1

          Yep. As long as they each have their own customer ID and are above 16 then it is $50 per head.

          Unfortunately, babies and young children can't sign up. Neither can the family pet.

          BUMMER! :-)

  • johnnysjk on 23/05/2013 - 10:04

    I just been to the Web site..they took the line out from the offer of $50. Wtf

    • wanderingoz on 23/05/2013 - 10:15

      Well I can still see it here http://www.commbank.com.au/personal/accounts/savings-account…

      • jm48 on 23/05/2013 - 11:04

        Yep still there on the original link
        "Plus, apply now and we’ll offer you $50 to kick-start your savings^."

        Thanks OP great deal.
        Opened account in a minute or two, deposited $200 immediately.
        After all 4.4% interest is fine by me, for small amounts

  • tensai on 23/05/2013 - 10:05

    Unable to complete Electronic ID check… :(
    used Aus Passport and Medicare
    also tried NSW Drivers license
    anyone faced similar problems?

    • wanderingoz on 23/05/2013 - 10:08
      +1

      No. Used passport & Medicare - no problems.

  • videoman on 23/05/2013 - 10:17

    I just logged into my account and in account information it says "Debit interest rate 17.94% p.a.". What does this mean?

    • spendinghacker on 23/05/2013 - 11:24
      +1

      That means that if you overdraw your account (allow it to go into negative balance) you will get slugged with 17.94% interest rate. OUCH!

  • sraymond on 23/05/2013 - 10:56
    +2

    It means if you overdraw the account, for example you eftpos a $5 burger and your balance was only $4 you will pay debit interest until you put more funds into the account to cover the dollar you are short.

  • zoecot on 23/05/2013 - 11:06
    +1

    super easy for netbank user….just took me less than 2 mins to open the account :)
    set up the schedule transaction to deposit $200 into the account on 25/7/2013

  • Shadowsfury on 23/05/2013 - 11:24

    Won't accept my passport details.

    Place of birth listed as AUCKLAND but just refuses to accept that as an answer :S

  • Minnie on 23/05/2013 - 11:28

    Would anyone know if I open this account and another one under a joint name (with my partner), both of the accounts still eligible for the $50 bonus? Any advice would be appreciated. Many thanks.

  • nadan on 23/05/2013 - 11:42

    Opened one, much better than my online saver but don't like the withdraw limits. I guess I can withdraw as many times as I want once I have received the $50 bonus?

  • coolhead on 23/05/2013 - 11:47

    not interested in bonus interest as long as i get the $50 for just depositing $200 for a few days

  • super029 on 23/05/2013 - 11:47
    +4

    I just read from the link: Offer only applies to selected CommBank customers who were sent the communication for this offer. Does this mean I would not be eligible if I was not sent with this offer through email or something? Can anyone clarify?

    • coolhead on 23/05/2013 - 11:48

      n here we go… all these new accounts created for nothing :(

    • iSamurai on 23/05/2013 - 12:00

      but it's on their front page of their goal saver description so it should be available to everyone.

      • lusicul on 23/05/2013 - 12:09
        +1

        The one on their front page doesn't say bonus $50? :(

        • iSamurai on 23/05/2013 - 19:36

          I meant the linked page, not front page. Oops. It says $50 bonus next to the apply button, and is still there but now with the updated terms and conditions. When I applied last night with the original wording, it looked like it is available to everyone. I wonder if they'd honour this?

    • shidesha on 23/05/2013 - 12:08
      +3

      Just got off the phone with Commonwealth bank - she confirmed with her manager that this is indeed true - it's only valid to a 'small group' of people, apparently.

  • coolhead on 23/05/2013 - 11:53

    Help Please: guys if i dont have a netbank then i select the "i dont have netbakn" option & click open now.. its asking me for a card number.. not an existing customer so what do to..

    from which page are the new customers applying?

  • coolhead on 23/05/2013 - 11:55

    got it now applying from their home page :) thanks

  • shidesha on 23/05/2013 - 12:05
    +1

    I had to call up to make mine, and I was asked where I got the link from - I told them a friend sent it to me, and they told me I would not be eligible for the $50 as this 'special offer' is only sent out to a 'small group of selected people' and I am not one of them. So, nope, no $50 for me :(

    • Ruprect on 23/05/2013 - 12:10
      +1

      That is the similar to the response I posted earlier when I rang… No go unless you're specifically approached.

  • Sydneyian on 23/05/2013 - 12:07
    +4

    OZBARGAINED! New clause added by CBA:

    ^Offer only applies to selected CommBank customers who were sent the communication for this offer and who open a new GoalSaver account by 28/06/2013, deposit $200 or more into their new GoalSaver Account by 11.59pm AEDST on 26/07/2013 and retain a balance of at least $200 in their new GoalSaver account as at 11.59pm AEDST on 26/07/2013.

    • montorola on 23/05/2013 - 12:21
      +1

      Far out…

      Commonwealth Bank….determined to be DIFFICULT =P

    • c64 on 23/05/2013 - 12:38
      +2

      i printed the terms & conditions to a pdf file as i always do for my records :)

      • ggfatty on 23/05/2013 - 13:34
        +1

        Could u please upload the pdf of old T&C somewhere? I would like to keep it for my record

  • singa130 on 23/05/2013 - 12:07
    +1

    It seems that they have changed the condition to

    ^Offer only applies to selected CommBank customers who were sent the communication for this offer

    • lusicul on 23/05/2013 - 12:11

      Yup, they've changed it. I had a screenshot of the original offer and it didn't have that line

  • ltwo on 23/05/2013 - 12:11

    OH MY GOSH! missed out. I was going to open one last night but did not have the right ID with me.

    • [Deactivated] on 23/05/2013 - 12:12

      same, will they still honour the deal for those that opened up?

  • [Deactivated] on 23/05/2013 - 12:17
    +1

    glad I hesitated on this deal, at least ME bank deal seems to be going strong.

  • timhn on 23/05/2013 - 12:20

    I think it's not working for people without Netbank account.

    The button "I Dont Have Netbank" jump to a page that you need to enter a CommBank's card ID.

  • videoman on 23/05/2013 - 12:20

    So will the people who already signed up before get the $50?

    • [Deactivated] on 23/05/2013 - 12:22
      +1

      I doubt it. I encourage everyone to jump on the ME Bank deal instead for $50. Easier, quicker and (evidently) more reliable. Also, I revoked my vote from this deal.

      http://www.ozbargain.com.au/node/102084

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