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Business / Bank accounts / Standard Business Cheque Account rates & fees

Interest Rates

Standard variable interest rates

Product
Balance
Interest rate (p.a.)
Standard Business Cheque Account
Less than $100,000
0.01%
Standard Business Cheque Account
$100,000 and over
0.01%

Interest is calculated monthly based on your minimum monthly balance1 and paid on the first day of the following month. Different rates of interest apply to different parts of your account balance. The interest paid on the part of your balance between $0 and $100,000 may be different from the interest paid on balances $100,000 and above. For current rates, see the table above.

Fees

Fee type
Fee
Monthly Account Fee
$5
Included assisted transactions, cheques and Quick Deposits.
0 included
Electronic transactions2
Deposits or transfers made at a Commonwealth Bank ATM in Australia; EFTPOS cash withdrawals or purchases in Australia; transfers or payments in Australia made via NetBank3; transfers or payments made via telephone banking without using an operator.
Free
Commonwealth Bank ATM cash withdrawals in Australia
Free
Quick Deposits
Deposits made via the Quick Deposit Box or QuickCash envelope banking.
$10.00 each
Cheque transactions
Cheques written by you and negotiated through the clearing system. Cheques deposited to your account (including cheques deposited via Quick Deposits or QuickCash envelope banking).
$5.00 each
Assisted transactions
Deposits made over the counter at a CommBank branch, Australia Post office or private agency (including EFTPOB/ Bank@Post). Withdrawals made over the counter at a CommBank branch, Australia Post office or private agency (including EFTPOB/ Bank@Post). Cheques drawn on your account and cashed over the- counter at any CommBank branch. Withdrawals or transfers made via telephone banking using an operator.
$5.00 each
International Transactions4

When you use your Business Visa Debit Card to make a purchase overseas, or you use it to make a purchase that involves a currency conversion.
3.5% of the transaction value
Paper Statement Fee (including Ad Hoc/one-off paper statements)
Charged when you choose to receive or order paper statements.
$5.00 per statement
Non-chargeable transactions
(Transactions which do not attract transaction fees)
Debits for Bank and Government charges
Daily merchant reconciliation from Commonwealth Bank EFTPOS facility
Bank initiated transactions
Dishonour Fee
Cheques, payments and direct debits can be dishonoured (not paid) because there are insufficient cleared funds in the account to cover the amount of the cheque, payment or direct debit being processed.
$5 per dishonour
Overdrawing
If we allow you to overdraw your account or exceed your agreed Overdraft limit, you may incur an Overdraw Fee.
$15.00
Excess Debit Interest on Overdrawn accounts
For each day your account remains overdrawn, Excess Debit Interest will be applied. This does not apply to accounts with an overdraft limit.
16.68% p.a
Excess Drawing Rate on Overdraft facilities
If we allow you to exceed your Overdraft limit, the Excess Drawing Rate will apply for each day your limit is exceeded (excluding Simple Business Overdraft).
16.68% p.a
Temporary Excess Fees
See Temporary Excess Fees

Things you should know