What you’ll need when applying for a Personal Overdraft

A CommBank Personal Overdraft can help you navigate life's expenses and access additional funds (up to an approved limit) whenever you need. Before you consider a Personal Overdraft, ensure this is the right product for your situation.

Applying online for a CommBank Personal Overdraft can be quick and easy if you have some documents on hand before starting the application, as well as preparing other documents for verification if your application is approved. This page is a helpful guide to assist you with this process. You may not need to provide all the documents listed in this guide; only those that fit your individual situation and whenever it is required for us to verify your personal and financial details.

I’m currently in the process of submitting my application for a Personal Overdraft. What should I do?

You have up to 30 days after starting your application to complete the process. If you started an application before 12 April 2024, please visit your local branch or call us on 13 14 31 to discuss how to proceed. Subject to credit approval and verification checks, you may still be eligible for the product.

You will not be able to start a new application from 12 April 2024.

Identification

How much proof of ID you need to prepare will depend on whether you’re a new or existing CommBank customer.

New customers

If you're a new customer you'll need to provide one of the following forms of ID online:

• Australian driver's licence
• Australian birth certificate
• Passport
• Medicare card
   

If you don’t have any of the ID options above, you can visit your local branch with any two of the following:

• Birth certificate
• Citizenship certificate
• Pension card or health care card issued by Centrelink
• Household bill, e.g. rates, phone, or electricity bill.

Non-residents

If you're not a citizen or permanent resident of Australia, you'll need to provide your passport number for us to confirm your visa details.

If you're on a visa with no expiry date, you'll also need to provide us with a copy of your Grant Notice. If you don’t have this on hand, you can download your visa details from the Visa Entitlement Verification Online system (VEVO).

If your application is approved and your salary is not paid into a CommBank account, we may need you to provide proof of your income.

Please have the following documents ready on hand, depending on your individual employment situation outlined below.

Note: all documents must always clearly show your full name, along with any additional requirements listed below. 

Full-time and part-time PAYG employees

Please provide us with any one of the following documents:

1.      Payslips

Your two most recent payslips clearly showing employer details and net income. Depending on your pay cycle, the most recent payslip must be within the following timeframe:

• Weekly – within the past 10 days
• Fortnightly – within the past 20 days
• Monthly – within the past 40 days.
   

2.      Bank statement or transaction listing clearly showing three months' worth of salary credits. Depending on your pay cycle, your most recent salary credit must be within the following timeframe:

• Weekly – within the past 10 days
• Fortnightly – within the past 17 days
• Monthly – within the past 33 days.
   

3.      Employment letter or employment contract and PAYG payment summary, tax return OR tax assessment notice

• Any one of the following, clearly showing your employer and income details (or hourly rate and minimum hours), start date and end date (if you’re on a fixed term contract):
  • Your employment contract, OR
  • Letter of employment
    

AND

• Either:
  • Your most recent PAYG payment summary, OR
  • Tax return, OR
  • Tax assessment notice (less than 18 months old) marked as 'tax ready'.
     

4.      If you’ve started a new job in the past two months, please provide us with both of the following:

• Any one of the following, clearly showing your employer and income details (or hourly rate and minimum hours), start date and end date (if you’re on a fixed term contract):
  • Your employment contract, OR
  • Letter of employment

AND

• Either:
  • Your most recent bank statement or transaction listing clearly showing the income you receive, OR
  • Your most recent payslip clearly showing your employer details and net income.

Casual employees

Please provide us with any one of the following documents:

1.      Payslips

• Three months' worth of payslips clearly showing your employer details and net income. Depending on your pay cycle, the most recent payslip must be within the following timeframe:
  • Weekly – within the past 10 days
  • Fortnightly – within the past 20 days
  • Monthly – within the past 40 days.
     

2.      Bank statement or transaction listing clearly showing three months' worth of salary credits. Depending on your pay cycle, your most recent pay must be within the following timeframe:

• Weekly – within the past 10 days
• Fortnightly – within the past 17 days
• Monthly – within the past 33 days.
   

3.      PAYG payment summary, tax return OR tax assessment notice AND payslip

• Any one of the following:
  • Your most recent PAYG payment summary, OR
  • Tax return, OR
  • Tax assessment notice marked as 'tax ready',

AND

• One most recent payslip clearly showing your employer details and net income.
   

4.      Employment letter OR employment contract AND PAYG payment summary, tax return OR tax assessment notice

• Any one of the following, clearly showing your employer and income details (or hourly rate and minimum hours), start date and end date (if you’re on a fixed term contract):
  • Your employment contract, OR
  • Letter of employment

AND

• Either:
  • Your most recent PAYG payment summary, OR
  • Tax return, OR
  • Tax assessment notice (less than 18 months old) marked as 'tax ready'.
     

5.      If you’ve started a new job in the past three months, please provide us with both of the following:

• Either:
  • Your most recent PAYG payment summary, OR
  • Tax return, OR
  • Tax assessment notice marked as 'tax ready'

AND

• Either:
  • Your most recent bank statement or transaction listing clearly showing the income you receive, OR
  • Your most recent payslip clearly showing your full name, employer details and net income.
    

Self-employed individuals

You are only able to use self-employed income if you've been running a business for at least 12 months (across one or more ABNs). If your time in business is less than 12 months, please refer to the PAYG income section above: Full-time and part-time PAYG employees. 

Please provide us with one of the following, depending on your circumstance:

• If you've been running a business for at least 12 months, you’ll need to provide either:
  • Your most recent personal tax return, OR
  • Notice of assessment (less than 18 months old) clearly showing your ABN/ACN.
• If you receive multiple sources of income, you'll need to provide your tax return instead.
• If your tax return for the latest financial year isn't available yet, please provide a letter from your accountant (less than 90 days old) clearly showing your annual taxable personal income from the most recent financial year and your accountant's ABN.

If you receive government benefits

We accept the following types of pensions, payments and allowances received from the government:

• Age Pension
• Veteran Affairs Pension
• Disability Support Pension
• Family Tax Benefit Part A and B
• Carer’s Income
• Parental Leave Pay
• Rent Assistance
• Supplement Payments
• AUSTUDY
• ABSTUDY
• Youth Allowance

Please provide us with one of the following:

• Your bank statement or transaction listing clearly showing three months' worth of account credits (including the transaction description 'Centrelink' or similar). Depending on your payment cycle, your most recent account credit must be within the following timeframe:
  • Weekly – within the past 10 days
  • Fortnightly – within the past 20 days
  • Monthly – within the past 40 days

• Your Centrelink income statement clearly showing the income amount you receive. Depending on your payment cycle, your most recent income statement must be within the following timeframe:
  • Weekly – within the past 10 days
  • Fortnightly – within the past 20 days
  • Monthly – within the past 40 days.

If you receive child support and maintenance

Please provide us with both of the following:

• A child support agency letter, solicitor's letter or a family law court order clearly showing the income you receive, the frequency of payments and the age of the child/children, 

AND

• Your bank statement or transaction listing clearly showing three months' worth of account credits including the transaction description 'child support' or similar. Depending on your payment cycle, your most recent account credit must be within the following timeframe:
  • Weekly – within the past 10 days
  • Fortnightly – within the past 20 days
  • Monthly – within the past 40 days.

If you receive rental income

Please provide us with one of the following:

• A bank statement or transaction listing clearly showing three months' worth of rental credits (including the transaction description 'rent', 'rental', 'lease' or similar). Depending on your payment cycle, your most recent rental credit must be within the following timeframe:
  • Weekly – within the past 10 days
  • Fortnightly – within the past 20 days
  • Monthly – within the past 40 days.

• A letter or statement from the managing real estate agent (less than 90 days old) clearly showing the rental income you receive, any agent's fee or other deductions, the current tenancy status and a signature from the real estate agent.

If your rental property is new within the past three months, please provide us with both of the following:

• Your lease agreement clearly showing the rental income you receive, the lease period and a continuation clause (if the lease term has already lapsed), AND
• Your tax return (less than 18 months old) from the most recent financial year.

If you receive investment income

Please provide us with one of the following:

• A bank statement or transaction listing clearly showing three months' worth of returns (including the transaction description 'investment', 'dividend', 'share' or similar). Depending on your payment cycle, your most recent account credit must be within the following timeframe:
  • Monthly – within the past 40 days
  • Quarterly – within the past 4 months
  • Bi-annually – within the past 7 months
  • Annually – within the past 13 months.

• An investment letter or statement from the entity in which the funds are invested/managed clearly showing three months' worth of returns, the current value (balance) and income generated from the investment. Depending on your payment cycle, your most recent statement must be within the following timeframe:
  • Monthly – within the past 40 days
  • Quarterly – within the past 4 months
  • Bi-annually – within the past 7 months
  • Annually – within the past 13 months.

If your application is approved and you hold debts with other financial institutions (including Buy Now, Pay Later facilities with a set credit limit), you may need to provide us with one of the following:

• Your most recent bank statement clearly showing your debt repayments, OR 
• Account statement for your relevant debt from your other financial institution clearly showing your account number and your debt repayments or credit limit.