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If you have an Everyday Account with us, you can apply for a Personal Overdraft, which will allow you to access additional funds from your account at any time, up to an approved limit.

They are often referred to as a safety net as it's there to 'catch' you when your account is overdrawn unexpectedly, helping you to avoid paying overdrawn fees or having an important payment dishonoured.

Once you’ve set up a Personal Overdraft, here are some tips to help you manage it.

  • View it as a ‘just in case’ safety net to protect against unexpected expenses. It’s there when you need it, and free when you don’t.
  • Keep an eye on your bank balance. Log on to NetBank or our CommBank app regularly so you know exactly how much your Everyday Account has in it and when you are dipping into the overdraft.
  • Top up your Everyday Account as quickly as possible to minimise the amount of interest you have to pay.


If you have a Personal Overdraft it’s likely you’re going to use it from time to time – that’s why it’s there. Here are some tips to help you manage your money and utilise the safety net of an overdraft:

  • To avoid unnecessary interest and fees, use your overdraft only for unexpected costs rather than treating it as if it’s always available or part of the balance in your Everyday Account
  • Set up your regular salary payment to go into your Everyday Account so that it can cover any funds you have used
  • Align your Direct Debits for regular bills and expenses to come out at a time that suits you. For example, just after your salary is credited to your account. If there are unexpected delays or costs, you will at least have peace of mind knowing your overdraft is there as a safety net
  • Understand the costs associated with an overdraft, like fees and interest, before applying.

Even if you don’t use your safety net it’s good to know that it’s there. Learn more about how a Personal Overdraft works, or to apply call 13 2221 or visit us at any branch.

Things to know before you Can:

This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Commonwealth Bank of Australia ABN 48 123 123 124.