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Minimising fees

Here are some simple tips on how you can keep your fees to a minimum and in some cases avoid them altogether.

Tips for minimising fees

  • Find a bank account that suits you best: Check out our bank account comparison table to see which bank account is more suitable for you.
  • You may be paying more fees than necessary: Our comparison table also allows you to compare accounts fees.
  • Always use Commonwealth Bank branded ATMs: You may be charged a fee for using non-Commonwealth Bank ATMs by the ATM operator, so find your nearest Commonwealth Bank.
  • You can also use any Bankwest ATM free* of access fees: You will not be charged an access fee when using a Bankwest ATM. This means that, combined with Commonwealth Bank ATMs, you will have access to over 4,000 ATMs free of access fees.
  • Pay & withdraw cash using EFTPOS: If you withdraw cash when you pay using EFTPOS, you’ll avoid paying excess withdrawal fees.
  • Bank online: Avoid over-the-counter and minimise transaction fees by using NetBank. It lets you transfer money, pay bills, print or view statements, and so much more. Certain transaction fees do apply.
  • Use telephone banking: Like NetBank, you can do most of your banking over the phone by calling 13 2221 and following the prompts. You won’t pay any transaction fees for using this service unless your transaction is assisted by an operator.
  • Combine all your accounts into one Commonwealth Bank account: Consolidate all your accounts into one Commonwealth Bank transaction account so you’re not paying multiple account fees.
  • Consider the benefits of Wealth Package: If you have a home loan, Wealth Package could help you enjoy fee savings on your eligible transaction accounts, credit card and home loan as well as offering you other benefits.
  • Stay within your credit card limit: For accounts opened before 1 July 2012, going over your approved credit card limit will attract an overlimit fee of $10. To avoid this fee make sure you monitor your current balance on NetBank or the CommBank app.
  • Don’t overdraw your transaction account: Different fees apply if you overdraw on your transaction account. Try to reschedule payments if you can to avoid these fees. You should also consider a personal overdraft. Linked directly to your Everyday Account it offers a financial safety net when you most need it.
  • Review the fees you are paying: Print your statement or view your transaction history in NetBank to find out exactly how much you are paying in fees. By following the tips above you can then take action to reduce the fees you are paying.

Are you eligible for a fee exemption?

The monthly account fee on transaction accounts is waived for:

  • Australian War Veterans and Aged Pensioners where your pension is paid into your Streamline account
  • Customers with a Relationship Balance of $50,000 or more in eligible contributing accounts
  • Customers who rely on over-the-counter services because of a disability that prevents them using electronic banking facilities
  • Customers aged under 18
  • Full-time tertiary students

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Where to start

If you’ve got an account that’s not right for your needs, you could be paying for services you don’t use or for excess withdrawals. We have online tools that can help you find the right account.

You can also speak to an account specialist by visiting your nearest branch or by calling 
13 2221, 24 hours a day, 7 days a week.

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  • Important information
    *ATM access fees will continue to apply on all overseas ATMs, including the ATMs of ASB Bank in New Zealand and Commonwealth Bank in Indonesia and Vietnam. Standard withdrawal fees may also apply. Fees will also continue to apply on ATM withdrawals and balance enquiries on CommSec Cash Accounts and cash advances made on Commonwealth Bank credit cards. The owner of another ATM may apply an ATM owner’s fee at the time of the transaction.

    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.

    Terms and conditions for Electronic Banking are available online or from any branch of the Commonwealth Bank.

    An annual fee and eligibility criteria applies to Wealth Package and terms and conditions are available on application.

    Applications for finance are subject to our normal credit approval. Full terms and conditions will be included in our offer of finance. Other fees and charges may be payable.