Help us improve our website by completing a quick survey. Start survey now

Electronic Banking Terms and Conditions

Section 3: Fees and Charges

Transaction Fees for Personal Loans

Name of Fee and Description

Amount of fee to account?

When fee is charged

Repayment Redraw Fee (Variable Rate Personal Loans only)
 

  • The Repayment Redraw Fee is payable on each drawing made under the Repayment Redraw Facility

$0.00 if the withdrawal is processed electronically (NetBank service fees may apply) $10.00 if the withdrawal is processed via any Commonwealth Bank branch

The fee is charged to the account at the time of the withdrawal

 

 

 

 

 

 

 

Recent Transaction Listing Fee

  • A Recent Transaction Listing Fee is charged for each recent transaction list issued by a Commonwealth Bank Automatic Teller Machine

AUD$0.50 each

Access Fee (for overseas transactions)

  • An access fee is charged for each withdrawal (including a redraw under the Repayment Redraw Facility of a Personal Loan) you make through the ATMs of ASB Bank in New Zealand, Commonwealth Bank in Indonesia and Commonwealth Bank in Vietnam.
  •  An access fee is charged for each withdrawal (including a redraw under the Repayment Redraw Facility of a Personal Loan), or purchase made overseas through the Maestro and Cirrus, MasterCard or Visa Plus networks of electronic terminals (or any purchase using your Debit MasterCard overseas or that involves currency conversion).

AUD$2.00

Maestro (EFTPOS) or Debit MasterCard purchase transaction in foreign currency
3% of transaction value.

Cirrus, MasterCard or VISA Plus ATM cash withdrawal in foreign currency
AUD$5.00 plus 3.00% of the transaction value.

Maestro (EFTPOS) or Debit MasterCard purchase in Australian dollars when overseas
3% of the transaction value (effctive on and from 30/09/2015).

Foreign Exchange Fee 

  • A fee applies if you buy foreign cash from a Commonwealth Bank Foreign Exchange ATM, where available

AUD$8.00
 


NOTE: The Bank does not charge Access Fees on withdrawals or account balance enquiries on transaction and savings accounts (including MISA), home loans, investment home loans, lines of credit and personal loans through non-Commonwealth Bank ATMs in Australia. However, ATM owners may charge a fee, which will be disclosed at the time of the transaction. If you proceed with the transaction, the ATM owner’s fee will be debited to your account (in addition to the withdrawal amount, if applicable). You should check the ATM owner’s fees that apply carefully before completing transactions at non-Commonwealth Bank ATMs in Australia.

No fee is charged for any transaction that fails, either as a result of customer or network error.

For Foreign Currency Transactions

Visa International (VISA) converts purchases and withdrawals in foreign currencies into Australian dollar equivalents at the rates set by Visa on the day Visa processes the purchases or withdrawals. MasterCard International Incorporated (MasterCard) converts purchases and withdrawals in United States dollars into Australian dollar equivalents, and converts purchases and withdrawals in other foreign currencies into United States dollar equivalents and then into Australian dollar equivalents, at the rates set by MasterCard on the day MasterCard processes the purchases or withdrawals.

Withdrawals made at the ATMs of ASB Bank in New Zealand and Commonwealth Bank in Vietnam are converted by the Commonwealth Bank into Australian dollar equivalents at a rate set by us on the day the transaction is processed. Withdrawals made at the ATMs of Commonwealth Bank in Indonesia are converted into Australian dollar equivalents by Commonwealth Bank in Indonesia at a rate set by them on the day the transaction is processed.

Transaction Fees for Home Loans, Investment Home Loans, Viridian Line of Credit and Mortgage Interest Saver Accounts (MISA)

 

Name of Fee and Description

Amount of fee to account?

When fee is charged

Drawing Fee (Home Loans and Investment Home Loans only)

  • A Drawing Fee is payable on each withdrawal (including a redraw under the Repayment Redraw Facility of a home loan/ investment home loan) made from a home loan/investment home loan

On home loans/investment home loans at a base variable rate: $0.00

On all other eligible home loans investment home loans: $0.00 if the withdrawal is processed electronically (NetBank service fees may apply)

$0.00 if the withdrawal is processed via any Commonwealth Bank branch

The fee is charged to the account at the time of the withdrawal

Recent Transaction List Fee

A recent transaction list fee is charged for each recent transaction list issued by a Commonwealth Bank Automatic Teller Machine

AUD$0.50

Access fee

  • An access fee is charged for each withdrawal (including a redraw under the Repayment Redraw Facility of a home loan/investment home loan) you make through the ATMs of ASB Bank in New Zealand, Commonwealth Bank in Indonesia and Commonwealth Bank in Vietnam
  • An access fee is charged for each withdrawal (including a redraw under the Repayment Redraw Facility of a home loan/investment home loan) or, purchase made overseas through the Maestro and Cirrus or Visa Plus networks of electronic terminals (or any purchase using your Debit MasterCard overseas or that involves currency conversion)

AUD$2.00

Maestro (EFTPOS) or Debit MasterCard purchase transaction in foreign currency
3% of the transaction value.

Cirrus, MasterCard or VISA Plus ATM cash withdrawal in foreign currency
AUD$5.00 plus 3.00% of the transaction value.

Maestro (EFTPOS) or Debit MasterCard purchase in Australian dollars when overseas
3% of the transaction value (effective on and from 30/09/2015).

Foreign Exchange Fee 

  • A fee applies if you buy foreign cash from a Commonwealth Bank Foreign Exchange ATM, where available

AUD$8.00

 


NOTE: The Bank does not charge Access Fees on withdrawals or account balance enquiries on transaction and savings accounts (including MISA), home loans, investment home loans, lines of credit and personal loans through non-Commonwealth Bank ATMs in Australia. However, ATM owners may charge a fee, which will be disclosed at the time of the transaction. If you proceed with the transaction, the ATM owner’s fee will be debited to your account (in addition to the withdrawal amount, if applicable). You should check the ATM owner’s fees that apply carefully before completing transactions at non-Commonwealth Bank ATMs in Australia.

No fee is charged for any transaction that fails, either as a result of customer or network error. Withdrawals as a result of direct debit requests are not permitted from Home Loan Accounts, Investment Home Loan Accounts, Personal Loan Accounts or from MISA.

Viridian Line of Credit Loans only

Refer to table ('NetBank Service Fees') for other NetBank specific fees.

For Foreign Currency Transactions

Visa International (Visa) converts purchases and withdrawals in foreign currencies into Australian dollar equivalents at the rates set by Visa on the day Visa processes the purchases or withdrawals. MasterCard International Incorporated (MasterCard) converts purchases and withdrawals in United States dollars into Australian dollar equivalents, and converts purchases and withdrawals in other foreign currencies into United States dollar equivalents and then into Australian dollar equivalents, at the rates set by MasterCard on the day MasterCard processes the purchases or withdrawals. Withdrawals made at the ATMs of ASB Bank in New Zealand and Commonwealth Bank in Vietnam are converted by the Commonwealth Bank into Australian dollar equivalents at a rate set by us on the day the transaction is processed. Withdrawals made at the ATMs of the Commonwealth Bank in Indonesia are converted into Australian dollar equivalents Commonwealth Bank in Indonesia at a rate set by them on the day the transaction is processed.

NetBank service fees

The fees below may apply to your use of NetBank. These fees may be charged in addition to any other applicable fee described in this brochure.

Name of Fee and Description

Amount of fee to account?

When fee is charged

Third party payments within a transfer group#
 

Third party payments are free except for each third party payment within a transfer group in excess of 3 per calendar month.

Note: A transfer group is a pre-defined batch of payees, which enables more than one payment to be made with a single debit transaction to your account. A typical use would be for payroll. A transfer group can contain both third party and linked accounts. You will only be charged for the third party payments within a transfer group.

$0.50 each

The fee is charged when each additional third party payment within a transfer group is processed and will be debited to the account from which the third party payment is made, unless fees cannot be charged to that account or you nominate a fee account.


# Accounts contained within a Package Agreement are exempt from the NetBank Service fees for third party payments made within a transfer group.

 

Name of Fee and Description

Amount of fee to account?

When fee is charged

File Imports

A fee is charged each time you import payments into NetBank from a file (such as MYOB).

$2.50 per import

The fee is charged when the file is imported and will be debited to an account nominated by you.

International money transfers (IMT)

IMT fee

Up to $22.00 each1

The fee is charged when each transfer is processed and will be debited to the account from which the transfer is made.

Amendment to detail

$25.00 each5

This fee is charged when you request amendments to the original IMT (i.e beneficiary name, bank details or address) including when the overseas bank is unable to effect payment on the information originally provided.

IMT advice of fate (trace) fee2

$25.00 each5

The fee is charged when each trace request is received and will be debited to the account from which the transfer was made.

Cancellation and return of cover fee 2,3

$25.00 each5

The fee is charged if you request to cancel an IMT where it has already been submitted, but has not yet been transferred to the beneficiary.

This fee will be debited to the account from which the transfer was made.

Unpaid Scheduled Payments Fee

A dishonour fee applies if there are insufficient available funds to make a Scheduled Payment.

$5.00 each

The fee is charged to the account if we are unable to debit the account after 5 attempts.4


Trace Fee

If you request confirmation that a third party payment was received at the destination account.

$25.00 per Transaction

The fee is charged when you request the Bank to initiate the trace.


Recovery Fee

If you ask us to attempt a recovery of a third party payment:

  • We charge this fee in addition to the Trace Fee and debit it to your account when you make a request.
  • We do our best to recover the payment and charge this fee even if we don't recover the payment for you.

If the payment is a Mistaken Internet Payment we may charge you a lower amount and will only charge you if we are successful in recovering the payment for you.

$25.00 per transaction

The fee is charged when you request the Bank to attempt recovery.


Rejected Transaction Fee

A fee is charged for each payment transaction(s) that is rejected due to invalid destination account details.

$2.50 per transaction

The fee is charged when the payment is rejected and will be debited to the account from which the payment is made or a nominated account for fees and charges.


Replacement NetCode Token Fee

When you tell us that your NetCode Token has been lost, stolen or broken.

$25 per token applies.

The first replacement NetCode Token is free. The charge will apply if you require more than one replacement token within any 12 month period from the date you register your first token.


1. Depending on the destination country and the delivery method selected (if applicable). If the funding account is a foreign currency account, the fee will be converted to the currency of the account using the Bank's applicable foreign exchange rate at the time of the transfer and debited to that account.

2. Messages sent to certain countries can require several follow-ups, which may extend the timeframe for completion of your request.

3. This is a request only and is dependent on the overseas bank obtaining the relevant debit authority to be able to return funds. If funds are returned in foreign currency, they will be converted to the original currency of the funding account using the Bank's applicable foreign exchange rate on the day they are credited to your account.

4. NetBank will make the first attempt on the day on which your schedule is due; however further attempts will be made by NetBank on subsequent business days.

5. If the funding account was a foreign currency account, the fee will be converted to the currency of the account using the Bank's applicable foreign exchange rate at the time of the request and debited to that account.

Business Plan

Customers may choose the NetBank Business Plan and pay a flat fee of $8.00 per month which includes unlimited:

  • third party payments within a transfer group (refer to 'NetBank Service Fees' for the transfer group definition);
  • file imports.

If you choose the NetBank Business Plan, the fee will be charged monthly in arrears on the same day that you first registered for NetBank and will be debited to an account nominated by you (if you don't nominate an account, the fee will be charged to an account selected by the Bank). Standard withdrawal fees may also apply. The Business Plan applies only to the nominated NetBank Client Number and can be requested at any branch or by calling 13 2221, option 4.
If we use an example to show the meaning of a word, the meaning of the word is not limited to that one example or examples of a similar kind. A reference in this document to the singular includes the plural and vice versa.

 

Top of page