CommBank Premier Banking questions

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$CJ

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I'm awaiting a call back from a relationship manager regarding Premier Banking. From what I tell so far there is no cost nor any product requirement, just an income threshold.

a) Does it cost anything? Can you use it solely to get the Diamond card at half annual fee?

b) Has anyone managed to get lower than broker mortgage rates via Premier Banking?
 
Never heard of premium banking. I've just left the Cth because they couldn't compete with the rates offered by UBank.
 
Brokers are quoting 4.2% with CBA which is reasonable and the Diamond card looks good.

Also looking at ING Direct 3.99%.

Both are full service and both also offering 4.95% 4.49% fixed 5 years which I find appealing.
 
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Great news thanks. Not in Melb but appreciate the offer. Did they also waive the package fee ongoing?
 
I'm awaiting a call back from a relationship manager regarding Premier Banking. From what I tell so far there is no cost nor any product requirement, just an income threshold.

a) Does it cost anything? Can you use it solely to get the Diamond card at half annual fee?

b) Has anyone managed to get lower than broker mortgage rates via Premier Banking?


a) You should get Diamond card (M'card with attached CBA AMEX) at no fee (as long as you meet income levels etc). But if you also have, say, a Business card, you don't get a discount on that fee - one card only (At least for me! The relationship managers have a bit of discretion, depending on how 'good' a customer you are.).

Yes, 'Wealth package' fee waived. (Edit: no, its not) I think you need at sign up to least $150K in facilities for Wealth package.

b) Depends on what type of mortgage of course - I couldn't but mine is all the frills and a rate that's OK by me.

Having banked (personal and business) with each of CBA, ANZ and WBC over the past 4 years, I'd say the CBA IT (ie internet banking and phone application) is by far the best. In fact, I have little use for my PB relationship manager these days, except maybe to prioritise something I have in train, as the on-line stuff does almost everything I need.
 
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Brokers are quoting 4.2% with CBA which is reasonable and the Diamond card looks good.

CBA offered me 4.12%, although not part of any Premier Banking package.

Not good enough considering the number of banks under 4%
 
Interesting.

I can confirm no fee for premier banking. My understanding was a certain level of relationship is required with the bank...ie enough debt :)

I've requested the wealth package fee be waived, but told that can't be done. Diamond card fee free though.

As for rate, I think I'm on 4.35%. Suspect what you get might be related to the size of your relationship with them? Freq Flier 2013 Id love to know how you managed such a good rate? I assume a fairly substantial relationship with CBA?
 
Interesting.

I can confirm no fee for premier banking. My understanding was a certain level of relationship is required with the bank...ie enough debt :)

I've requested the wealth package fee be waived, but told that can't be done. Diamond card fee free though.

As for rate, I think I'm on 4.35%. Suspect what you get might be related to the size of your relationship with them? Freq Flier 2013 Id love to know how you managed such a good rate? I assume a fairly substantial relationship with CBA?

Apologies - you are correct; wealth package fee stays; have amended my post above.
 
Interesting.

I can confirm no fee for premier banking. My understanding was a certain level of relationship is required with the bank...ie enough debt :)

I've requested the wealth package fee be waived, but told that can't be done. Diamond card fee free though.

As for rate, I think I'm on 4.35%. Suspect what you get might be related to the size of your relationship with them? Freq Flier 2013 Id love to know how you managed such a good rate? I assume a fairly substantial relationship with CBA?

The bank waved the package fee for the first year. Will need to see re second year when it comes around.

I was refinancing from another bank and was up front that will only come across if they do a 4.1 rate. The premium banker got pricing and it was approved. Only then did we do all the paperwork. .. All that is before today's rate increase of .15 by the CBA :(
 
I only got half price Diamond. Since it is no good for ATO any more I'm going to cancel it
 
The bank waved the package fee for the first year. Will need to see re second year when it comes around.

I was refinancing from another bank and was up front that will only come across if they do a 4.1 rate. The premium banker got pricing and it was approved. Only then did we do all the paperwork. .. All that is before today's rate increase of .15 by the CBA :(

P+I or IO? Investment property?
 
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