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Commonwealth Bank launches new accounts

Australian lender Commonwealth Bank has launched two current accounts offering customers unlimited electronic and assisted transactions, Streamline e-Access and Streamline Unlimited.

<p>Streamline e-Access is a transaction account with unlimited electronic transactions including Commonwealth Bank ATMs, self-service telephone banking, NetBank and EFTPOS for A$4 per month. Streamline Unlimited offers unlimited electronic transactions coupled with unlimited branch and agency withdrawals, cheques written and assisted telephone banking for A$6 per month. <br /><br />Michael Cameron, Commonwealth Bank&#0039;s group executive for retail banking services, said: Our research has found a large number of customers prefer to do their banking via electronic channels, while others prefer the convenience and personal service of our branches.<br /><br />The current standard Streamline transaction account will remain in place for existing customers. Mr Cameron said the Commonwealth Bank would continue to offer fee exemptions for approximately a third of the Bank&#0039;s customers including people less than 18 years of age, tertiary students and customers with special needs who are unable to use electronic banking; Australian aged and war veteran pensioners and customers with a relationship balance of A$50,000 or more.</p>