The Commonwealth Bank is well known as one of Australia's Big Four banks and is the largest bank in the country. Being such a large bank, it offers several different types of savings accounts to suit a wide range of customers. Take a look at CommBank's accounts in the tables below.
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Here's a brief overview of Commonwealth Bank's main personal accounts.
A personal transaction account that provides you with unlimited access to your money electronically with a $4 monthly account-keeping fee. If you're a student or able to deposit at least $2,000 a month you can have that fee waived.
This is CommBank's primary savings account in the market. It currently offers an ongoing variable bonus rate of 4.9% each month you deposit $0.01 and make no withdrawals. If you often need to make withdrawals from your savings, the Commonwealth Bank NetBank Saver account could be better suited to you.
The Commonwealth Bank Term Deposit could suit you if you want to lock your deposit away for a length of time and earn a fixed return on your money. It offers term lengths from 1 month to 5 years, and you can open an account with $5,000.
Commonwealth Bank also offers specific accounts for students, youth, pensioners and business customers. You can see these accounts in the tables above.
Based on CommBank bank account scores in Finder's 2024 Customer Satisfaction Awards.
Commonwealth Bank offers many different ways to do your banking.
Commonwealth Bank has more than 1,000 bank branches spread across Australia. There are also around 100 Bankwest branches across Australia that CommBank customers are able to use. Customers can go into a CommBank branch for general help and assistance with day-to-day banking, to deposit cash or cheques, to open or close accounts or to speak to a professional banker.
There are more than 4,000 CommBank ATMs around Australia. Like most banks, CommBank has reduced its ATM numbers over the past few years as people increasingly do their banking online. Some of CommBank's ATMs are Smart ATMs, which allow customers to deposit cash and withdraw cash without their debit card.
If you need to deposit cash into your account, you can do this at a participating Australia Post shop using Bank@Post. It's free to deposit cash into your account this way.
Commonwealth Bank's online banking platform is called NetBank. It's an easy way to review transactions and balances, pay bills, transfer money between accounts and make BPAY payments. You can also view and download your statements, open accounts or apply for various products, change your card's daily withdrawal limit and you can activate your new card when it arrives in the mail.
The CommBank app is the most downloaded banking app in Australia and has been downloaded more than 5 million times. It offers spending categorisation and tracking tools, budgeting and bill-tracking features, spending alerts and the ability to set up personal savings goals.
Commonwealth Bank offers Apple Pay, Google Pay and Samsung Pay to customers with a CommBank debit card. This means you can use your phone (or any compatible device) to make contactless payments for everyday items instead of using your physical debit card. You can download the CommBank app to your smartwatch and tap and pay without your phone, too.
You can apply for a new CommBank account online in less than 10 minutes. Just make sure you meet the eligibility criteria and have the necessary documents handy before you start your application.
If you haven't found what you're looking for yet, you can compare a wide range of additional savings accounts and bank accounts from other providers with Finder.
Your retirement money goes further in a versatile account that allows for free transactions as you earn interest on your balance.
If you’re a pensioner and a concession card holder the Commonwealth Bank Streamline Basic gives you a simple fee free approach to everyday banking.
With a Youthsaver Account, young Australians can begin now to build savings with bonus interest earned each month.
With a term deposit from Commonwealth Bank you get flexible terms and competitive interest rates that will help your savings to multiply.
The Commonwealth Bank NetBank Saver could be a convenient way to stockpile your savings without having to pay any fees.
With bonus interest paid as a reward for saving, you could reach your financial goals sooner.
I need to access my bank account online and I don’t know my account details . How do I get access to it because my step mother holds my bank card .
Hi Naomi,
Thanks for your question.
In this case it’s best to call CommBank directly so they can verify your identity over the phone. You can also let them know about your stepmother holding your debit card so they can issue you a new one and block the other.
Cheers,
Shirley
Is it possible to get a card that has no fees no interest no frills and no Visa or MasterCard? My
Hi Jon,
Thanks for your question.
Unfortunately this is not possible with CBA. All transaction accounts come with a linked Mastercard or Cirrus card.
Cheers,
Shirley