Is there a company possing as this company that's loans but really stilling from people's checking account

Yes

Yes a man named Allan Reed say he is with Commonwealth Bank in New York...but I think it's a scam...he said I was approved for $8,750 but I never put in for that amount....Even though I could use the money

Can something be done if someone say they with Commonwealth bank and say you are approve for a loan and ask you to pay a certain amount

Does anyone ever get their money back?

NO