If you open an account online we will waive your account fees for the first 12 months. After this, you will be charged a monthly account fee if you do not meet the conditions required to waive the fee.
For more information about monthly account fees, please refer to the terms and conditions of our Transaction, Savings and Investment Accounts.
Cheques/Direct debit can be dishonoured (not paid) because there are insufficient cleared funds in the account to cover the amount of the cheque/direct debit being processed.
$5.00 for each cheque/direct debit.
A dishonour fee applies if there are insufficient available funds to make the scheduled payment. We will attempt to make the scheduled payment over 5 consecutive business days, following which, if there is still insufficient funds a dishonour fee is applied.
$5.00 following 5 unsuccessful attempts.
An overdrawing approval fee3 applies to some accounts when we honour a transaction which causes your account to be overdrawn or exceed its agreed overdraft limit.
$10.00 per account per day.
The advice on this website has been prepared without considering your objectives, financial situation or needs. Because of that, you should, before acting on the advice, consider its appropriateness to your circumstances. Please view our Financial Services Guide (PDF 68KB). Full terms and conditions for the transaction and savings accounts (PDF 660KB) mentioned and Electronic Banking are available here or from any branch of the Commonwealth Bank.
1 Monthly account fee waived for accounts with at least $2,000 deposited each calendar month and if you are 21 to 24 years old you will be exempt from monthly account fees if you deposit at least $1000 into the account each calendar month (excludes Bank initiated transactions). A monthly account fee waiver will also apply if you’re under 21 years of age. You may also be eligible for a different monthly account fee exemption if you have an aged disability or war veterans pension deposited in your account, have a balance of $50,000 or more in eligible contributing accounts, are reliant on over the counter services because of a disability or have an eligible home loan.
2 Students must present a valid student card or letter of enrolment in branch, to receive the monthly account waiver for the duration of their studies.
3 You can only incur one overdrawing approval fee, per account, per day irrespective of the number of transactions we honour on that day. The fee is usually charged the next business day.