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New high-speed machine makes Commonwealth Bank more coin friendly

6 December 2006

The Commonwealth Bank is becoming more coin friendly with the introduction of high speed self service coin counting machines.

Sixty of the machines have been rolled out around Australia with the three-fold purpose of cutting customer waiting times, encouraging people to save their small change, and cutting the transaction times for small business people.

According to Group Executive Retail Banking Services, Michael Cameron, the changes are designed to improve the customer service experience.

"One of the most time consuming aspects of banking is the counting of large numbers of coins," Mr Cameron said.

"These machines are a great innovation, able to count 2,500 coins per minute or a staggering 40 coins per second, making them the fastest coin counting machines in Australia.

"I’m particularly pleased with the speed of our roll-out. The Commonwealth Bank now has more machines in more branches than any other bank.

"Customers simply pour their coins into the top and the machine will do the rest, issuing a receipt to the customer who then simply has to present it to a teller for the transaction to be complete.

"It means less time standing in queues and less time standing at the counter while a teller counts the money.

"It’s also another way in which we can encourage children to start saving money by tipping their money-boxes into the machines to help build up their Dollarmite or Youthsaver Accounts."

Mr Cameron said the development was the latest in a string of decisions the Bank had taken in the past year to enhance customer service.

"We’ve eliminated some NetBank fees and introduced Streamline accounts with a capped low monthly fee, allowing unlimited transactions, and we’ve opened 65 of our branches on Saturday mornings.

Feedback to date from customers and staff has been very positive.

As one branch manager said: "Everyone uses it from the elderly to the young with their money boxes to business customers".




For more information, contact:

Bryan Fitzgerald
General Manager, Media and Issues Management
Marketing and Communications
Commonwealth Bank of Australia.
Phone: (02) 9378 2663 / Mobile: 0414 789 649


Editors Note: If you would like to get access to your local Commonwealth Bank to photograph the machine in action, please call Phillipa O'Reilly on 02 969 66729 or Mobile 0410 516 916.