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Risks of sharing your password with a third-party app or service

Risks of sharing your password with a third-party app or service

It’s important to keep your money safe. CommBank works hard to do that, but we also need your help.

What you do online might put your personal data at risk.

One easy way you can help us is to make sure you never share your NetBank log-on and password with anyone - including third-party apps or services.

We may send you notifications or emails if we detect that a third party app has accessed your account.

Who might ask for your NetBank ID and password?

  • Personal budgeting tools - such as an app that helps you track your spending and saving
  • Investment services
  • Instant loan providers

Sometimes, apps and services use the CommBank logo on their websites, so you might not realise you are giving your bank log-on details to a third party. We recommend you only provide your log-on information and password when you’re using CommBank services directly, such as the CommBank app or NetBank.

Accounting software and bank feeds

If you use accounting software such as MYOB, Xero or Quickbooks, you can set up an automated bank feed to streamline your business bookkeeping. Find out more about setting up an automated bank feed in NetBank.

Stay secure

It’s important that you keep your NetBank log-on and password confidential. Potential risks of sharing your log-on details include:

  1. Fraud and identity theft - CommBank invests a significant amount of effort and money into security each year to ensure that your information is kept safe and secure. Not all businesses have that same level of security, which could lead to fraudulent transactions being made on your account.
  2. When you provide your NetBank credentials to a third-party, they gain access to more than your transaction data. They can potentially view everything in your account, including your name, address, and other personal information. If you decide to share your information, a safer way is to download a CSV file. You can do this through your NetBank account by following the instructions here.
  3. CommBank provides a 100% security guarantee against monetary losses that result from unauthorised transactions made on your NetBank account. This means we’ll cover any loss due to unauthorised transactions on your account, as long as you protect your cards, devices, client numbers, PINs, passwords and any other access methods, and immediately notify us of their loss, theft or misuse or any suspicious activity on your account. You may be liable for these losses if you give your NetBank log-on credentials to a third-party app or service because it breaches these terms.

What to do if you’re concerned

  • If you think you might have shared your NetBank log-on and password with a third-party in the past, you can stop them from accessing your account by changing your password in NetBank in ‘Settings’
  • Call us 24/7 on 13 2221 (+612 9999 3283) if you notice any suspicious activity on your account or need to report a lost or stolen card or misuse of your password
  • You may not immediately recognise a transaction, so before you dispute it, take a look at our checklist to rule out a mistake

Read more about how you can protect your bank details and minimise the risk of fraud or scams.

This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice.