Features & benefits

Our Overdraw feature can help you avoid missing important payments, being charged late payment fees from third parties, and the inconvenience of transaction and payment dishonours.

It’s designed to be used only occasionally – for those times where you don’t have enough money in your account to cover a payment.

CommBank may allow you to overdraw transaction accounts (such as your Smart Access, Complete Access1 or Everyday Offset) for the following payment types:

  • Direct Debits, such as gym membership payments, bills and loan repayments
  • Cheques
  • Scheduled BPAY payments
  • Spend using your linked CommBank card

If you need ongoing credit, consider one of our credit products to see which one may be a better fit for you.

Fees & rates

In most cases, if we allow any payments to overdraw your CommBank transaction account and the balance isn’t brought back to positive by midnight that day (AEST), you’ll be charged a $15 overdraw fee. This is usually charged the next business day2

For each day your account remains overdrawn, interest charges may also apply (check out the latest interest rates for debit balances on your account).

How to apply

For customers who hold a Smart Access, Complete Access1, or Everyday Offset account and don’t have a Relationship Manager3, the feature would have already been applied to your account when it was opened. Overdrawing transactions may then be approved at CommBank’s sole discretion.

You can remove or update your overdrawing preferences in NetBank or the CommBank app (select your account, then 'Manage', then ‘Overdraw preferences’). You can also give us a call or visit your nearest CommBank branch4.

If you have a Relationship Manager3, they’ll review any transactions which overdraw your account and approve or decline the transaction4.

Who can apply

The Overdraw feature is available to customers who:

  • Have a Smart Access, Complete Access1, or Everyday Offset; or
  • Have an account that’s managed by a Relationship Manager; and
  • Are aged 18 years or older.

Things you should know

1 Product no longer available to new customers.

2 Check your account terms and conditions for details on this fee.

3 Excludes Premier Bankers.

4 It’s important to note that switching off the Overdraw feature may not mean your account will never go into negative – there may be situations where a card transaction doesn’t require our authorisation, a merchant settles a transaction late, or our systems are unavailable.

The target market for this product will be found within the product’s Target Market Determination, available here.