CBUS
Verified262 reviews
This is the worst experience associated to your own super and income control. A complete disregard for Australian values and it's protective regulations for the consumer. Based offshore in India the customer service centre is. Lies and intentional delays in my rollover as the 3 day mandatory law in Australia wasn't met. No real reason given other… Read more
than lies. They didn't receive my email when I received the auto reply when an email is received on there end .
Then after 5 days they request further information as another act to delay my application while gaining interest on my super. They accessed my personal data without my consent . Even though I specifically didn't sign or authorise such access. I left it blank and wrote specifically that no access has been consented to, I also didn't provide the number required to do such checks yet they still found it and did it without my approval. Then denied it or said it was mandatory. There own policy states not mandatory and the form can be provided by the person yet denied this . Everytime a different reason or cause is given . Nobody can answer questions related to super investments. No manager available for 48 hours I was told . Absolute joke
WOULD NOT RECOMMEND CBus Great at taking your money, but terrible EVEN if you are over 65yo & want access to your own $'s from an Accumulation Account in the 3-5 working days they claim you have to wait- Getting the absolute run around! Been almost 2 WKS & a few emails & ph calls & STILL WAITING!! It's like trying to pull teeth dealing with… Read more
them!
Try another fund - I'll be rolling mine over to another fund if it's not in my bank tonight!! Sick of this!
Absolutely atrocious service & behaviour. The death claim section in disgusting, heartless, extremely unprofessional & atrocious!! To have 6 deaths in my family & CBUS staff be like WHO EVEN ARE YOU... UM who even are your atrocious unprofessional staff CBUS?!! They have not communicated professionally at all... they have refused to speak on the… Read more
phone when I've called & the claim was raised in May.. it's now September!!! Useless lying staff that do not return emails at all!! Fizza being the caseworker has had bare communication, will not reply to emails, has made no effort to return my calls when I reach out to her & she is NEVER available!! She is a poor caseworker & a Formal complaint has been made about her. She refused to pass on any formal complaint process after asking her in email on 3 seperate times. I attached her letter with CBUS'S STRAIGHT LIE TO YOUR FACE.. "we're here to help" - NO THEY ARE NOT Legal action is coming CBUS.
CBUS ARE NOW SUPPORTING ILLEGAL ACTIONS OF A LIAR CLAIMING DEFACTO... HAPPY FOR COURT CBUS!!
Reviews with attachments
They hold onto your money like they are fort knox – If you are with CBUS and you are expecting a payout due to a loved one passing away, dont reply on CBUS to be quick with your payments, for us it was a 6 month wait, laws state they payout must be within 90 days, I see they are now getting prosecuted for the delays and now want to settle out of court. The fact that they require the same paperwork… Read more
from multiple family members doesnt make it easy, you send the documents in but they wait over a month to collect it and file it. they dont contact anyone and when you contact them they never get back to us. As soon as they sort this mess out, I will be moving the whole of my super to a better quicker paying fund, they hold onto your super like it belonged to themselves. I have been with CBus since 1991.
Fees and performance – CBUS’s fees are pretty much fraud! They say they are relevant to your overall super balance at the time the monthly fees are processed but having taken screenshots over the last year it would undoubtedly show that it’s a complete lie. Cbus advertised their biggest financial year yet (2020/2021) for all the companies returns yet I don’t see this… Read more
reflection in my account, except in the ever changing fees. My death and impairment cover has jumped almost $10 in a month, yet a jump that high is not represented in the % of my super total…go figure. After calling and trying to understand where they are getting the numbers from to increase nearly $10 from month to month they replied at the time the market/your account must of been up at the time the monthly fee was calculated then dropped straight back down after the fee was processed, really? After telling her I had screen shots of my account she hung up. Just another company hooked on greed.
Latest follow-ups
Please stay away from this fund. It works efficiently for your investment but try taking money out, asking for personal contribution reports for tax or simply communicating with the admin cant be described as anything other than a frustrating… Read more
nightmare. It doesn't matter how explicit you are with your requests, they will simply ignore you and then eventually do what ever they like. they can make every mistake in the world and the only reply is for you to make a complaint....perthitic . Customer service is something unknown by this fund. They simply have no idea in how to conduct anything other than taking your money. Avoid this fund at all costs!
Follow-up · I received a letter in response to my complaint that could only be described as "PATHETIC". No explanation as to why they completely disregarded my withdrawal requests and then went on to reneg on a verbal (recorded) guarantee to how they were going to rectify it. I was lied to and treated like a fool. Their assurances are worthless just like… Read more
I have been with Cbus since it started in 1984. The customer service team used to be enthusiastic, competent and reliable. You can not believe how upset I am with the 3rd world performance of the current customer service team! I am lost for words… Read more
to discribe how difficult it has been trying to deal with the Cbus staff members that answer the phone. Just trying to lodge some documentation has been a nightmare. I now can see why Cbus have so many negative reviews online. They actually deserve all of the negative reviews.
Follow-up · Wayne Swan needs to read the reviews and experience just how bad the foreign customer service team are. The members service team in Melbourne were fantastic but I had to drive 700 kilometres to get their help only to continue to have issues with the unprofessional foreign staff.
Cbus superannuation is very expensive and fees that come out are way over the top. I worked and my boss put $300 super in Cbus for just 2 months and I only have $58 left in account so Cbus for me is useless and not a investment but a debit account.… Read more
I know insurance was taken out and no cooling off period like other super funds. I would never recommend CBUS because I got burnt by fees. Other better super funds are out there. I will recommend an AUDIT into the company and media outlets notification. 2 months and not happy
Follow-up · Expensive fees like insurance came out of account which was higher than superannuation so we owed them my No one at CBUS gives correct information. Now I am with Australian super funds and communication is number one with them. Very happy so far but let's see
Positive reviews
Terry was a wealth of information to help with our retirement planning and spoke to us for over an hour, we wanted to thank him because we didn't really understand all our options before.
OBUS Fashion Northcote VIC. Ordered online Purchase Traveller Waffle Henley Top 99$ these are great tops & made well Fabric is not thin has a close weave so warm on this crispy early morning autumn in Adelaide This one has great colours I’d call a raspberry & pink stripe like the image online I’m 56k took a size 8 It is roomy not baggy so not too… Read more · 1
tight you look like your trying to escape :) plenty length to tuck in as can see in photos I wear waist pants- so be plenty in length to tuck if high waist- my opinion wash these tops by hand They wear well my other one has not stretched had for over a year . These tops have a great burst of colour for autumn/ esp winter - you can wear on own or great as a layer with a peek of colour under what you team with & will keep you snug as a bug in winter and happy with these delights of colour during the many shades of winter greys lol Thanking You Ms Chey Adelaide :))
HIGH SECURITY ALERT All without my knowledge or consent. CBUS changed my passcode linked security mobile number blocking access to my accounts. CBUS added an unknown number never linked to me. CBUS blocked access to my accounts through the… Read more
passcode system.
No communication, no emails, no written advice.
If you are looking for a responsible, trustworthy manager for your Superannuation … look elsewhere.
Follow-up · Within a few day CBUS resolved this issue giving me access to my accounts. Whilst no notifications were provided by them advising of this change, l was very grateful.
Negative reviews
Never use CBUS if you’re trying to roll over your super to an SMSF. My experience has been extremely frustrating, with unnecessary delays, poor communication and a process that feels far more complicated than it should be. When you’re dealing with someone’s savings, this level of service is simply not acceptable. Very disappointed with CBUS and would not recommend them.
Find out how CBUS compares to other Industry Super Funds
Know better, choose better.
AVOID THIS SUPER FUND AT ALL COSTS. Absolutely disgusting customer service. Calls and emails ignored, the same documents requested over and over, and complaints seemingly result in your payment being delayed even further - sometimes for months. The staff are rude, dismissive and completely unhelpful. It genuinely feels like they’ll do anything to… Read more
hold onto your money for as long as possible.
Save yourself the stress and frustration. Stay well away from this company - absolutely NOT worth it.
Hopeless response to a problem they caused with the ATO in relation to my account. I am surprised they get more than 1 star, I would give less if possible. I have been with cbus for decades and will be moving my account as soon as I have resolved their mess.
Follow-up · Still trying to resolve the problem, now directly with the tax office. Gave up on useless Cbus complaints department who were virtually impossible to get a response from and offered zero assistance only frustration. I am going to move my super out of Cbus as soon as I am able to settle the issue.
Recent reviews
If i could give CBUS less than one star i would. Already reported them to the ATO. Beware.. IF YOU EVER WANT TO SEE YOUR SUPER AGAIN, DONT GO WITH CBUS!!! I received approval to have my super released by the ATO, yet CBUS even after numerous escalations and prioritizing my case with case managers calling me (from India), they are still full of… Read more
excuses as why my application hasn't been processed and my super released.
Discussing behavior by a so called reputable super fund! Absolute bunch of thieves.
The minute my super is released, my whole family is moving from CBUS to another fund. Absolute joke of a fund
I cannot believe the total lack of service from CBUS. I have been trying to set up an Income Stream for months and get one useless call centre worker after another. I have been told many times 'it's all sorted' and 'a conformation letter has been sent to you' (That was July 7th - still not arrived). Constant mis-information both verbal and… Read more
written. Also the contact number to the Complaints department 03 9106 6204 has conveniently been disconnected and I still have no money. Time to contact Kristian Fok the CEO to see if he can get a resolution for me.
Worst ever to deal with. Totally lied to me then refused me anybody above to rectify the problem. Charith Reddi from cbus lied. Told me to fill out a form call back and hr after it was put in only to be told by Tony whoever that it was incorrect. Will be changing companies to one that can give correct info
I came here to see if others had similar experiences and what do you know… Their entire customer service department is manned by a snide cabal of intentionally antagonising Indians who pride themselves on frustrating any simple requests, and play as if they dont know what it is theyre doing wrong. Ive spent the last two weeks inbetween my own… Read more
crushing work schedule attenpting to actualize a rollover to my SMSF and been given nothing but sass and [Name Removed] arounds the entire time.
They lie, and they pretend to help. I think theyve been given free reign to frustrate any movement of money OUT of CBUS’s remit in order to claw back revenue? Would not surprise me.
Their customer service and treatment of customers in general is abhorrent.
What a company. Been with CBUS maybe 10 years or more, returns have been OK.
My wife passed away 14mths ago now and I am still trying to resolve her DEATH CLAIM, I am having my own health issues at the moment and my biggest concern is my dependent children aged 4 and 14yrs will have to continue the fight. You would think Cbus after a $23.5 million dollar fine for poor performance would act post-haste, but that is not the case.
Incompetent company to take care of your Super. Despite submitting the request in required timeframe and talking to multiple people who confirmed that my request has been submitted and also received, my account was eventually closed against my will. Several people ensured me that it will stay open! I got only an advise "open the new account with us". My question: Would anyone be willing to open the new account with these people in cbus???
Appalling customer service. Spoke to 4 different people and no one could help with a simple request. Was made to wait for nearly 2 hours, I was advised I had to call a different number because they didnt have the capabilities to transfer the call. They were rude and not helpful.
Find out how CBUS compares to other Industry Super Funds
Know better, choose better.
Avoid CBUS as your super provider. We regret having CBUS being forced on us as our super provider. They completely lack any customer service capability, clearly uninteretsed in helping their members navigate the complexity of the superannuation environment. Despite being unable to answer our questions on the phone, being passed from one department… Read more
to another (completely wasting our time), promising a followup call the next day but not honouring that promise, and then not responding to our website enquiry as our final attempt to get answers from them. Unforgivable, unprofessional and unreliable. A big A -.
Professional service. I contacted super fund to talk to a retirement adviser. The appointment was good very easy to understand and to give me a picture of how I can move into retirement funds. The process of setting up an income stream account was explained and then set up. I now have a regular income and peace of mind.
I am a financial adviser, and this super fund is by far the worst fund I have ever dealt with. I have never experienced such a poor lack of training and inconsistency between the front line call centre and the back end staff. I am always very thorough with getting the requirements to reduce the impact for clients, however the goal post always… Read more
changes with these guys. Do not believe their [Content Removed] about trying to protect clients money because they are that far off the mark compared to any other super fund it isn't funny. I recommend staying well clear of this company for the sake of your mental health. They have just about broken me.
Office help is great. Had a day where site was closed down and headed into the city to sort out some super things. Tan is a legend, helped sort everything out for me.
CBus paid compensation for the delay between submission for a death payment and their final decision. They always showed respect and gave equal treatment. I couldn't be happier with them.
I am so very pleased with the service I received from Cbus when needing advice on an Income Stream, the service was much more than I ever expected. Originally, I was so confused and so I went into the Cbus Sydney Office where Agnes initially helped me immensely giving me a booklet outlining Super products available and making the maze of Super… Read more
much clearer. I completed the relevant forms to the best of my ability and went back into the Sydney office and met with Katherine who was amazing and made sure all was correct. The ability of going into an actual office and meeting with an officer was invaluable. Also, I was advised there are Coordinators in the field who will come to you . I have been with Cbus for over 30 years .
I recently needed to contact CBUS about a contribution and changing my beneficiary to a ' Binding death benefit nomination' Simple I thought; well not so simple. Fifteen phone calls over two weeks with customer service representatives that all gave different advice or spoke with such heavy accents it made them very difficult to understand. I… Read more
don't remember it being so difficult ten years ago. What has changed with CBUS? I used to find this Company very helpful and would recommend them to friends and family. I couldn't recommend CBUS anymore, as the service is so poor.
Very happy with the service I received in the Sydney office in the city. I needed help with some forms as I approach retirement. The lady that helped me was really wonderful. Happy that the Fund will see you in person and help y ou fill out a form
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.
Cbus should be ashamed of the poor quality advice service they provide to their members. We have… Read more