CBA / Woolworths Banking Deal Unveiled

Details of the new CBA / Woolworths bank while you shop initiative have been released with in store banking services to begin rollout around Australia later this year.

To be known as ‘Woolworths Ezy Banking', in-store banking will be available from a range of access points such as internet, telephone, in-store Ezy Banking centre, ATM’s, EFTPOS and at the checkout. Customers will be able to fulfill their day to day banking needs in the store including cash out and deposits and balance enquiries.

On launch the Woolworths Ezy Banking products are a MasterCard and an everyday transaction and savings account linked by one card access. The Ezy Card in Woolworth stores will entitle customers to accrue rewards points, on both debit and credit transactions, which will be offered in a variety of forms, for example Woolworths vouchers redeemable from partner stores.

According to Woolworths CEO Mr Roger Corbett, they have commenced training over 65,000 staff in preparation for the national rollout whilst the Commonwealth is also training over 20,000 of their staff and a further 220 who will operate the Ezy Banking Call Centre.

A summary of the services and facilities is as follows:
Ezy Action Account
– Day to day account for everyday transactions
– Gives customers rewards every time they use their card for purchases in Woolworths Safeway and Big W or any other store in the Woolworths Group
– No account keeping fees
– Withdraw up to $1000 per day at ATM’s and EFTPOS in store; for larger amounts customers can call the call centre and a cheque will be mailed out
– Pay regular bills using Bpay
– Cheque book available on request

Ezy Mastercard Account
– Up to 55 days interest free on purchases
– Flexible repayment options
– Option of free additional card for a family member
– Pay bills over the phone
– Free legal, medical and travel information assistance for travellers over the phone
– Free travel accident insurance up to $125,000 when travel tickets are purchased with the card

Accessing Accounts
– At the checkout counter
– Via the telephone call centre
– Via the internet
– ATM’s and EFTPOS wherever Commonwealth Bank cards are accepted

Checkout Counter Banking
– Cash out and cash in (deposits)
– Ezy MasterCard cash advances
– Account balances
– Ezy MasterCard cash repayments
– Spend rewards vouchers

Woolworths Ezy Banking Centres
Located at the front of stores where customers will be able to;
– Change their PIN
– Check account balances
– Use the courtesy phone to do their banking
– Deposit cheques in the convenient Safe and Ezy Drop Box
– Access to Service Desk for simple enquiries

Telephone Banking
– Available 24 hours a day, 7 days a week

Opening an Account
– Application forms are available in Woolworths supermarkets and Big W and should be returned to staff in store
– Existing Commonwealth Bank customers can become Woolworths Ezy Banking Customers by filling in an enrolment form

Details of fees, interest rates and any other charges have yet to be disclosed. The first facilities are due to be available in Queensland later this year and will be rolled out around Australia over the next 12 months.