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From 1 October 2023, we’re making the following changes

Account
Monthly account fee
Included transactions
In branch & Australia Post
Assisted transactions*
Over the counter (OTC) deposits and withdrawals
QuickCash deposits
Cheques
Issued and deposited
$10 BTA
No change
Reduced from 20 to 5
Increased from $3 to $5
Increased from $3 to $10
Increased from $3 to $5
$0 BTA
No change
No change – nil included
Increased from $3 to $5
Increased from $3 to $10
Increased from $3 to $5
Stream Working Capital Transaction Account
No change
No change
Increased from $3 to $5
Increased from $3 to $10
Increased from $3 to $5

*Includes deposits and withdrawals made over the counter at a CommBank branch, Australia Post office or private agency (including EFTPOS/ Bank@Post), cheques drawn on your account and cashed over the counter at any CommBank branch. Withdrawals or transfers made by telephone banking using an operator.

Why are we making these changes?

With more and more Australians choosing to do their banking online and using devices, we’re investing in improving the experience and security of payments for all customers. At the same time, the cost of handling, processing and storing cash is increasing. While these changes may impact you, we’ll continue to work with you to help you avoid paying fees.

How can you avoid paying fees?

We know some of your customers will always prefer paying in cash, and we’ll continue to support you with cash services. There are a number of ways for you to deposit cash or accept payments without incurring additional fees:

  • Deposit and withdraw cash securely at our free instant deposit ATMs. Our branch staff can help you use the machine. Learn more about ways to deposit money at our ATMs
  • Get free, unlimited electronic transfers in NetBank and CommBank. Depending on your situation, you may want to work with your customers to find alternative methods for them to pay you. We’ve listed a number of options below
  • You can switch between the BTA $0 and $10 monthly account fee options any time in NetBank by going to Settings. Or speak to your Relationship Manager

More ways to accept payments

We have a number of payment methods available for your business that can help reduce fees, improve cash flow and security.

Fast payments & PayID

Receive near real-time payments directly into your account (including weekends and public holidays). Once you’ve registered your email, mobile number or ABN/ACN as your PayID, your customers can simply use your PayID instead of your BSB and account details. It’s fast, secure and convenient.

Learn more about PayID for small business.

Direct credit/Electronic Funds Transfer (EFT)

Provide your customers with your BSB, account number and account name so they can transfer directly to your bank account.

Learn more about how to transfer money.

Accepting card and phone payments

Take payments wherever your customers are. Accept card payments on the go and in-store using a merchant facility. Accept all major card schemes and enjoy same day settlement on all sales your business makes, 365 days a year.1 Take advantage of our low 1.1% flat rate transaction fee2, currently the lowest in the market.

Learn more about EFTPOS, payments and eCommerce.

Things you should know

  • This information has been prepared without taking into account your individual or business needs and objectives. You can view the Terms and Conditions for Business Transaction and Savings Accounts, our Financial Services Guide and the Electronic Banking Terms and Conditions and should consider them before making any decision about these products and services. Bank fees and charges may apply.

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

    1 Same day settlement is available on all EFTPOS transactions made before 9.30pm (Sydn/Melb time) and all eCommerce transactions made before 5:30pm (Syd/Melb time) for eligible customers with a CommBank BTA and a linked CommBank merchant facility.

    2 1.1% covers Mastercard, Visa, AMEX, JCB, EFTPOS, and UnionPay transactions (additional costs may apply for all other cards). AMEX is subject to approval, available to eligible customers only. Eligibility criteria, terms and conditions apply. Please contact AMEX for more information on 1300 363 614, available weekdays 8am to 6pm (Syd/Melb time).