At a glance

  • What you'll get

    • $0 monthly fee
    • No interest
    • No international transaction fees
    • Cashback benefits for eligible cardholders through CommBank Yello Cashback Offers1 in the CommBank app
  • Trade offs

    • Low credit limits up to $2,000
    • You need to repay over 4 instalments
    • Late payment fees

How it works

StepPay is a digital only buy now, pay later product that can be added to your CommBank app or to the digital wallet on your smart phone, iPad or Android tablet. You can use StepPay to pay everywhere in-store, or online, up to your credit limit, without needing a physical card.

We’ll automatically split your purchases of $100 or more into four equal repayments. Your first repayment will come out of your linked CommBank account up to two days after the purchase is posted to your StepPay account. The following repayments will come out over the next three fortnights.

For purchases under $100, these are not installed and the full amount will come out of your linked CommBank account in one go, two days after the transaction is posted2 to your StepPay account. This means you can use the same card to also make small value transactions under $100. 

There are no interest charges, no monthly or annual fees, and you’ll be able to access your repayment schedule anytime in the CommBank app. Late payment fees will apply, but we have limits in place so fees are capped. Fees and charges may apply to your linked CommBank account.

To use StepPay, you’ll need to be eligible and a current customer, or if you’re a new customer, simply open an eligible CommBank account. For a full list of eligible linked CommBank repayment accounts, refer to the FAQs section below.

When you first set up a StepPay account, you’ll choose a limit that suits your needs. You can manage your spend limit at any time directly in the CommBank app, with the ability to move your limit up or down, subject to eligibility. We may reduce your spend limit*, we’ll notify you if we do. To manage your short-term budgeting needs, you can also apply a temporary spending cap.

How it works

StepPay is a digital only buy now, pay later product that can be added to your CommBank app or to the digital wallet on your smart phone, iPad or Android tablet. You can use StepPay to pay everywhere in-store, or online, up to your credit limit, without needing a physical card.

We’ll automatically split your purchases of $100 or more into four equal repayments. Your first repayment will come out of your linked CommBank account up to two days after the purchase is posted to your StepPay account. The following repayments will come out over the next three fortnights.

For purchases under $100, these are not installed and the full amount will come out of your linked CommBank account in one go, two days after the transaction is posted2 to your StepPay account. This means you can use the same card to also make small value transactions under $100. 

There are no interest charges, no monthly or annual fees, and you’ll be able to access your repayment schedule anytime in the CommBank app. Late payment fees will apply, but we have limits in place so fees are capped. Fees and charges may apply to your linked CommBank account.

To use StepPay, you’ll need to be eligible and a current customer, or if you’re a new customer, simply open an eligible CommBank account. For a full list of eligible linked CommBank repayment accounts, refer to the FAQs section below.

When you first set up a StepPay account, you’ll choose a limit that suits your needs. You can manage your spend limit at any time directly in the CommBank app, with the ability to move your limit up or down, subject to eligibility. We may reduce your spend limit*, we’ll notify you if we do. To manage your short-term budgeting needs, you can also apply a temporary spending cap.

Features & benefits

    • Accepted everywhere. Make purchases everywhere, in-store and online.
    • Flexibility in payments. Splitting your bigger purchases into four repayments will give you greater flexibility to manage your expenses.
    • All your banking in one place. You can access StepPay alongside your existing accounts in the CommBank app so you can manage your finances more easily in one place.
    • Be confident with StepPay. This product is available to eligible CommBank customers subject to credit assessments and limits up to $2,000.
    • Enjoy a more flexible way to spend. You can move your spend limit up or down, or choose to turn on a temporary spending cap to help you take control of your spending. Moving your spend limit up is subject to eligibility.

     

Rates & fees

Type
Rate / fee
Conditions
Monthly fee
$0
You won’t pay any interest or account fees with StepPay. 
Purchase interest rate
0% p.a.
Interest charges and account fees may apply to your linked CommBank repayment account.
Credit limit
Up to $2,000
This product is available to eligible CommBank customers subject to credit assessments and limits up to $2,000.
Late payment fee
$10
If you miss a repayment, a $10 late fee may apply, and you won't be able to spend with StepPay until you have enough available funds in your repayment account. If late fees are applied, they are capped at:
  • 1 late fee per instalment (there are 4 instalments per purchase)
  • 2 late fees per purchase
  • 1 late fee per day
  • 12 late fees per anniversary year
International transaction fee
$0
You won’t pay any international transaction fees on purchases you make overseas or in Australia (for example online) where the merchant or financial institution or entity processing the transaction is located overseas.

Things you should know

The information on this website has been prepared without considering your objectives, financial situation or needs. Because of that, you should, before acting on the information, consider its appropriateness to your circumstances. Please view our Financial Services Guide (PDF). Applications are subject to credit approval. Full Terms and Conditions will be included at point of application. Bank fees and charges may apply. 

Purchasing online with StepPay

With StepPay it’s easy to make purchases online. Here’s how it works.

How StepPay affects your credit score

Your StepPay application does involve initial checks with credit bureaus. 

Are you eligible for StepPay?

Find out how to check if you’re eligible for StepPay.

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Learn how buy now, pay later can help you balance everything from everyday to unexpected expenses.

Spend and split everywhere

Introducing StepPay, a new buy now, pay later you can use everywhere, for whatever you need.

Change the way you pay

How buy now, pay later can help you break up your everyday costs into more manageable instalments.

FAQs

  • What is buy now, pay later?

    Buy now, pay later products offer you the ability to split up purchases into smaller repayments so you can pay them off over time. With StepPay, you'll be able to split purchases of $100 or more into four fortnightly repayments. Smaller purchases under $100 will come out of your linked CommBank account in one go, two days after posting.

    Who is eligible for StepPay?

    StepPay is available to CommBank customers who meet our eligibility criteria and who satisfy credit assessments.

    Something went wrong in my application, how do I apply for StepPay?

    Jump into the CommBank app and search ‘StepPay’. Tap ‘StepPay’ and then tap ‘Apply now’ to see if you're eligible.

    Why can't I activate my StepPay account?

    If you try to activate your StepPay and get an error or something has gone wrong after your application, you can always try again by navigating to the ‘Cards’ section in the CommBank app.

    It might take a bit of time to appear in the ‘Cards’ section so try again later on if you can’t see it straightaway.

    I successfully activated StepPay in the CommBank app, but it isn’t showing within the StepPay repayments and transactions tabs. Instead it looks like a regular Credit Card. Is something wrong?

    It's likely you're accessing StepPay on an old version of the CommBank app. Once you've downloaded the latest version of the CommBank app, you'll be able to view the correct StepPay screens.

    Where can I use StepPay?

    You can split your purchases of $100 or more into four equal repayments everywhere in-store and online. Whether it's paying for a weekend getaway, utility bills, yoga classes or those new shoes you have your eye on.

    Do I pay fees or interest?

    You don’t pay any account fees or interest. A late fee of $10 will apply if you miss a repayment, but there are caps in place to minimise the amount of additional fees charged. Fees and charges may apply to your linked CommBank repayment account.

    What happens if I miss one of my StepPay repayments?

    StepPay will automatically deduct the four repayments from your chosen linked transaction account.

    If there aren't enough funds in the account, the card will be temporarily blocked until the funds are available.

    I missed a StepPay repayment and now my card is blocked. What should I do?

    If this happens, please don't transfer funds into StepPay. It's faster and easier to use the new PayNow feature to repay due or upcoming instalments.

    If PayNow is unavailable on your CommBank app, make sure that the required funds are in your linked account

    We’ll automatically check this account a few times a day and once cleared, your StepPay will be ready to use in 1-2 business days.

    Can you repay instalments early?

    Yes, the new PayNow feature on the CommBank app allows customers to repay upcoming instalments with the click of a button.

    Can I change my StepPay limit?

    Yes, you can move your spend limit up or down all in the CommBank app.

    When moving your spend limit down, keep in mind if you wish to move it up in the future, you’ll need to reapply.

    Moving your spend limit up is subject to eligibility.

    You can also apply a temporary spending cap to manage your short-term budgeting needs. It’s a way to reduce how much you can spend, without permanently decreasing your overall spend limit. You can turn it on or off at any time, all in the CommBank app.

    Is there a list of eligible CommBank repayment accounts for StepPay?

    Initially, StepPay can only be linked to a CommBank transaction account. These eligible CommBank accounts include:

    Business Transaction Account, Cash Investment Account, Cash Management Call Account, Cheque Account Bearing Interest, Cheque Account Not Bearing Interest, Complete Access, Everyday Offset, Premium Business Cheque Account, Private Banking Account, Smart Access, Streamline Basic Account.

    Can you access CommBank Yello Cashback Offers with StepPay?

    Yes. StepPay is eligible under the CommBank Yello Cashback Offers program.

    What are the differences between StepPay and CommBank AdvancePay?

    They are both CommBank products.

    StepPay is the CommBank buy now pay later product.

    CommBank AdvancePay is where you apply to access money you expect to be paid, before your next pay day.

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Things you should know

  • * Read the StepPay Terms and Conditions (PDF)

    1The CommBank Yello Cashback Offers program (‘CommBank Yello Cashback Offers’) rewards you with cashback after you activate (where required) an offer presented to you via the CommBank app and you make a purchase in accordance with the Terms and Conditions of that offer. Cashback is typically received within 14 business days of a qualifying purchase, but in some cases may take longer. If you are not already enrolled, you can enrol if you are at least 18 years old, hold an eligible CommBank credit Mastercard or debit Mastercard, Business credit Mastercard or StepPay digital card, and meet the ‘Base eligibility criteria’ in the ‘CommBank Yello Terms and Conditions’ (latest version available on our website at commbank.com.au) (‘CommBank Yello’). Your participation in CommBank Yello Cashback Offers is governed by the full Terms and Conditions available in the CommBank app.

    2 A payment from your StepPay account is posted when the transaction is processed, and the balance due to the relevant merchant, is paid from your StepPay account. Prior to this, a payment is pending only. 

    Apple, the Apple logo, Apple Pay, Apple Watch, Face ID, iPhone and Touch ID are trademarks of Apple Inc., registered in the U.S. and other countries.

    Applications are subject to credit approval. Full Conditions of Use will be included at point of application. Bank fees and charges may apply. The advice on this website has been prepared without considering your objectives, financial situation or needs. You should, before acting on the advice, consider its appropriateness to your circumstances.

    Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

    The CommBank app is free to download however your mobile network provider charges you for accessing data on your phone. You should refer to your mobile phone plan or contact your provider to find out more. Terms and conditions are available on the CommBank app. NetBank access with NetCode SMS required. Find out about the minimum operating requirements on the CommBank app page.