Commonwealth expands online banking service

Australians may find that they are able to manage their credit cards and other accounts effectively follow a number of improvements to Commonwealth Bank's NetBank service.

Commonwealth Bank has unveiled a range of measures aimed at making its online bank account services easier to use.

Moves by the bank have seen it improve its NetBank application so that customers can carry out transactions such as paying their credit card bill, looking at the interest rate they are charged on their borrowing and renewing term deposits a simpler process.

An email and SMS alert service will issue reminders to consumers when payments are due, while improvements to the service's security features will see a password strength meter introduced.

Drew Unsworth, general manager of online banking for Commonwealth, points out that the improvements are" focused on fine-tuning the online experience for customers".

He adds such moves are aimed at helping people manage their money more effectively and "give them greater flexibility and transparency" in how they use their accounts.

Earlier this month, the bank revealed that it is to expand its contactless credit card payment services, where consumers will be able to pay for transactions worth less than £100 simply by passing their card over an electronic reader.

Posted by Mark Hornby