Features & benefits

Break down large purchases or your balance

Break down a large purchase or your credit card balance. You choose the amount you’d like to pay off based on the term and how much you can afford each month.

Flexible access

We know that your circumstances can change.  At any time, you can cancel or pay off your plan early.   

Freedom to have multiple plans

You can have up to 10 active plans at a time, on each eligible credit card. No additional credit checks are required.

How SurePay works

1

Choose from 3 types of plans

  • Large purchase: To pay off a one-off purchase of $600 or more, made in the last 14 days. Examples include annual insurances or utilities, home items like furniture and white goods, electronics or unexpected expenses.
  • Card balance: To pay off all or part of your card balance of $600 or more within a set time. Excludes cash advances, balance transfers and existing instalment plan balances.
  • Cash advance balance: To pay off all or part of your cash advance balance of $600 or more within a set time. Cash advance transactions include ATM withdrawals and transactions considered equivalent to cash e.g. traveller’s cheques.

2

Select your purchase or balance

You’ll need to choose an eligible purchase or balance of $600 or more to put on a plan.

3

Select your monthly instalment payment 

Choose the term with the fixed monthly instalment that best suits you. 

4

Start your monthly payments 

You’ll be asked to make your SurePay monthly instalment payment/s on your regular statement due date each month.  We’ll add to that the  minimum payment on your non-instalment balances so that you continue to pay off some of those balances as well. 

All the details of your plan will be available in your next monthly statement after you set up a plan. This includes your new payment options and a summary of your plan progress. You can also track your progress any time in NetBank or the CommBank app.

5

Missed payments and cancelled plans

If you miss a monthly instalment payment your plan won’t be cancelled. Any unpaid monthly instalment payment will be transferred back to the purchase balance (or cash advance balance for cash advance plans) and charged at the standard purchase (or cash advance) rate. If you cancel a plan this will also apply to any outstanding balance.

Interest & your payments

How interest works with SurePay

  • The interest rate will be fixed for the full term of the plan
  • Any interest-free period on purchases will no longer apply to the purchase or balance you transfer to the SurePay plan
  • You may still be eligible for interest free periods on purchases not in a plan if each month, you pay off all non-instalment balances plus your monthly instalment payment/s by the due date each month.

Learn more about interest free periods

SurePay payments

When you have a SurePay instalment plan, your payments will be applied as follows:

  • Current monthly instalment payment/s (if you have multiple plans payments are applied from highest to lowest interest rate, if interest rates are the same on all plans from oldest to newest)  
  • Cash advance balances (if applicable) 
  • Purchase balances 
  • Other balances such as balance transfers (if applicable) 
  • The next monthly instalment for any remaining instalment balances.

This means that your current monthly instalment payments are always paid first, even if you have other balances with higher interest rates (such as cash advances or purchases not in a plan). If this no longer suits you, you may cancel your plan at any time. 

Learn more about how credit card payments are applied

Setting up a plan

SurePay is available on all personal credit cards and Business Awards cards.

To set up a plan:

  • In NetBank go to Settings > Credit card instalment plans
  • In the CommBank app go to View accounts > Credit card account > Manage account > Instalment plans 

Alternatively, call us on 13 2221, or visit your nearest branch.

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Things you should know

You won't be able to apply for an instalment plan if you don't meet our criteria (e.g. if you have exceeded your limit or if you are in default).  Instalment plans are not available on non-Awards Business Cards, corporate cards or balance transfers or Great Rate transactions.  

The terms of the Credit Card Conditions of Use relating to instalment plans (section 5) will apply.

While you have an instalment plan, we apply your credit card payments first to your current monthly instalments. This will apply even when you have other card balances with a higher interest rate, such as cash advances and purchases not on a plan.

Any interest-free period on purchases will no longer apply once the purchase is put on a plan.

You can cancel your instalment plan at any time. When a cancellation is processed, the outstanding instalment balance will be transferred to your purchases balance (or cash advance balance for cancelled cash advance plans) and accrue interest from the transfer date at the standard purchase or cash interest rate applicable on your account.

If you miss a monthly payment your plan won’t be cancelled and you can continue to make any remaining monthly payments due up to the end of your chosen term. However, if you miss an instalment payment, the unpaid amount will be transferred to your purchases balance (or cash advances balance if the instalment plan was a cash advance plan). It will then accrue interest at the purchases (or cash advance) rate.

Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian credit licence 234945.