If your Business Transaction Account or Society Cheque Account (business account) does not have an Overdraft Facility, the Bank may from time to time allow some transactions or payments to go through by making funds temporarily available for eligible customers¹ via our overdraw feature.

This may result in your account appearing to have negative funds or a negative balance, and the overdraw feature could help you avoid missing important payments, being charged late payment fees from third parties or experiencing inefficiencies associated with transaction and payment dishonours.

This overdraw feature only supports the following types of payments and transactions:

• Direct Debits
• Cheques

Direct Debits include amounts set up to automatically be deducted from your account, such as a loan or bill payment.

How will I know if my account is overdrawn?

You may receive a notification online or via SMS to alert you when your account is overdrawn. You can turn these notifications on or off by giving us a call, visiting your nearest branch or updating your notification settings when logging onto Netbank. See alerts for more information.

What fees will I be charged if I overdraw?

By utilising the overdraw feature, you may incur an Overdraw Fee of $15 per account, per day an overdrawing transaction or payment occurs. For each day your account remains overdrawn, Excess Debit Interest will be applied.

You can avoid these fees and charges by bringing your account back into credit by midnight (AEST, Sydney/ Melbourne time) on the same day the Direct Debit or Cheque is due for payment.  

However, if your business account is still overdrawn at midnight (AEST, Sydney/Melbourne time), an Overdraw Fee and Excess Debit Interest charges apply.

Check Business Rates and Fees for more information.

How can I switch off the overdrawing feature?

You can switch off the overdrawing feature by giving us a call, visiting your nearest branch, logging onto Netbank or the CommBank app and opting out via the overdrawing preferences in account settings.  

If you choose to switch off our overdraw feature, any Direct Debits or Cheques that exceed the available funds in your account will be dishonoured and a $5 Dishonour Fee may be charged.

It’s important to note that switching off the overdraw feature may not mean your account will never go negative. There may be situations where other transactions are debited from your account, which may incur a fee.

The Bank may also remove this feature, change the amount we allow you to overdraw or impose other conditions at any time.

Helping you manage your money

There are ways we can help you manage your money so you avoid overdrawing your account when you don’t want to:

• Check your available funds at any time in the CommBank app, NetBank or ATM.
• Know what’s happening with your money by turning on Smart Alerts in NetBank. We’ll tell you when your available funds² are low, high or if you’ve received a payment³ on your CommBank Business Transaction Account.
• Checking when your upcoming direct debits are due and ensuring you have available funds to cover them or reschedule them if needed..

The overdraw feature is designed only for irregular use to cover unexpected shortfalls and will be made available to assist in covering Direct Debits and Cheque payments.

If you find you are using the overdraw feature for any other reason, it may not be right for you. You may like to consider a Business Overdraft.  

Things you should know

This information has been prepared without taking into account your individual or business needs. You should read and consider the Business Transaction Account and Saving Accounts Terms and Conditions and the relevant information about fees and charges before making a decision. This overdraw feature is offered at the Bank’s discretion. The account may also become overdrawn if a merchant completes an offline or unauthorised payment.

1. The overdraw feature does not apply to Relationship Managed CBA customers.
2. Your available funds (also known as available balance) is the total amount you currently have available to use. Any pending transactions will immediately be deducted from your available funds. 
3. The Bank does not charge for the alerts service, but you may incur message and data charges from your telecommunications service provider. Alerts are sent in real-time 24/7. Delivery of alerts may be delayed for various reasons, including service outages affecting your phone, wireless or internet provider; technology failures; and system capacity limitations. Please check your available funds before entering into any transactions. Alerts may be suspended by the Bank at any time without notice.