Compare the bank that has the largest ATM network: CommBank

Information verified correct on December 7th, 2016

Take a look at the bank that has the largest ATM network and leading online banking platforms.

Since 1912 the Commonwealth Bank of Australia (CBA) has provided financial services and products to over thousands of Australians. It has now achieved a global presence with branches in North America, New Zealand, Europe and Asia. It arguably one of Australia's biggest banks.

Rates last updated December 7th, 2016
$
Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
Commonwealth Bank Smart Access
Get unlimited CBA electronic transactions using internet banking, phone banking, ATM and EFTPOS.
Mastercard $0 $2,000 Unlimited free CBA ATM transactions. No monthly service fee if you deposit a minimum of $2,000 per month otherwise $4 monthly fee applies. More
Commonwealth Bank Pensioner Security Account
A flexible transaction account that keeps your retirement savings at work.
Mastercard $0.50 $0 Access to over 4,000 ATMs and 1,000 branches. More
Commonwealth Bank Streamline Basic
Eligible if you hold a Commonwealth Seniors card, Pensioner Concession Card or Health Care card.
Mastercard $0 $0 Eligible if you hold a Commonwealth Seniors card, Pensioner Concession Card or Health Care card. More
Rates last updated December 7th, 2016
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
Commonwealth Bank NetBank Saver
Introductory rate of 2.70% p.a. for 3 months, reverting to a rate of 1.25% p.a. Available on balances up to $5,000,000.
2.70% 1.25% 1.45% $0 $0 / $1 More
Commonwealth Bank Goal Saver Account
Ongoing, variable 1.95% p.a. rate when you deposit at least $200 p/m with no withdrawals. Available on balances up to $100,000.
1.95% 0.01% 1.94% $0 $0 / $0 More
Commonwealth Bank Youthsaver Account
Ongoing, variable 2.30% p.a. when you make at least one deposit with no withdrawals each month. Available on the entire balance.
2.30% 0.01% 2.29% $0 $0 / $0 More
Rates last updated December 7th, 2016
$
3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. 48 Mths p.a. 60 Mths p.a. Min Deposit Interest Earned
Commonwealth Bank Term Deposit
Commonwealth Bank Term Deposit
1.90% 1.90% 1.90% 1.90% 1.90% 1.90% 1.90% 1.90% $5,000 More
Rates last updated December 7th, 2016
$
Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
Commonwealth Bank Smart Access
Get unlimited CBA electronic transactions using internet banking, phone banking, ATM and EFTPOS.
Mastercard $0 $2,000 Unlimited free CBA ATM transactions. No monthly service fee if you deposit a minimum of $2,000 per month otherwise $4 monthly fee applies. More
Commonwealth Bank Pensioner Security Account
A flexible transaction account that keeps your retirement savings at work.
Mastercard $0.50 $0 Access to over 4,000 ATMs and 1,000 branches. More
Commonwealth Bank Streamline Basic
Eligible if you hold a Commonwealth Seniors card, Pensioner Concession Card or Health Care card.
Mastercard $0 $0 Eligible if you hold a Commonwealth Seniors card, Pensioner Concession Card or Health Care card. More
Rates last updated December 7th, 2016
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
Commonwealth Bank NetBank Saver
Introductory rate of 2.70% p.a. for 3 months, reverting to a rate of 1.25% p.a. Available on balances up to $5,000,000.
2.70% 1.25% 1.45% $0 $0 / $1 More
Commonwealth Bank Goal Saver Account
Ongoing, variable 1.95% p.a. rate when you deposit at least $200 p/m with no withdrawals. Available on balances up to $100,000.
1.95% 0.01% 1.94% $0 $0 / $0 More
Commonwealth Bank Youthsaver Account
Ongoing, variable 2.30% p.a. when you make at least one deposit with no withdrawals each month. Available on the entire balance.
2.30% 0.01% 2.29% $0 $0 / $0 More
Rates last updated December 7th, 2016
$
3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. 48 Mths p.a. 60 Mths p.a. Min Deposit Interest Earned
Commonwealth Bank Term Deposit
Commonwealth Bank Term Deposit
1.90% 1.90% 1.90% 1.90% 1.90% 1.90% 1.90% 1.90% $5,000 More
Rates accurate as at: December 7th, 2016 Learn about our information service

Awards that Commonwealth Bank has earned
  • Roy Morgan Customer Satisfaction Awards, 2015. Commonwealth Bank awarded Major Bank of the Year.

Who is Commonwealth Bank?

Commonwealth Bank is leading the pack in terms of technology for your personal finances. It's online banking platform, NetBank, is used by thousands of Aussies to organise their finances. It offers a range of financial products that encourage Aussies to both spend and save. Each has its own features and benefits designed to maximise your saving opportunity or spending style. With various options depending on your deposit size, interest paid and type of account, CBA provides you with maximum flexibility with its many branches and extensive ATM network.

  •  Commonwealth Bank SWIFT code: CTBAAU2S

What’s internet banking like for Commonwealth Bank?

NetBank, Commonwealth Bank’s online banking platform, gives you easy means to review transactions, view balances, pay bills, transfer money between accounts and transfer credit card balances. You can view your statements online and download them if required. You can use this platform to apply for a various products, change your card’s daily withdrawal limit and you can activate your new card when it arrives in the mail.

NetBank's 100% Security Guarantee provides protection against liability for unauthorised transactions.

Notable features include:
  • Manage all your existing Commonwealth Bank Group bank accounts in a single place and these include Colonial First State and CommSec accounts, along with CommInsure policies
  • View your rewards points balance and redeem points for rewards

Why is CBA Netbank considered the best?

  • Commonwealth Bank’s Netbank system has gained a good reputation among consumers for its easy-to-use interface, flexible features and easy access to important account details and tax information. However, compare it with the online banking systems from other providers so you can make up your own mind.

Can I link a third party account to my CommBank account?

That is dependent on the type of CommBank account you have. For example, term deposits may be linked to a third party bank account for transfers, but not their standard online savings account.

Can I still access my CommBank accounts when I'm overseas?

You can still access your accounts if you have a stable internet connection in the country that you're travelling to.

What about the NetBank app?

Login pageAccount balanceLocating the near ATMTransfers and overseas transfers
IMG_1422IMG_1423IMG_1424IMG_1425
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What transaction accounts are offered by Commonwealth Bank?

  • Smart Access. A personal transaction account that provides you with unlimited access to your funds electronically for a small monthly fee. If you are a student or able to deposit at least $2,000 monthly you can have that fee waived.
  • Complete Access. An everyday account that's designed to meet all your financial needs, the Complete Access offers you all of the same features as the Smart Access but adds branch banking for an extra monthly fee.
CommBank transaction account hack

If you're earning over $2,000 per month, account keeping fees are generally waived on CBA everyday banking accounts. However, you may need to call CBA directly to ask or remind them to waive this fee if they are currently charging you.

What high interest savings accounts offered by Commonwealth Bank?

  • Netbank Saver Account. This online savings account offers a bonus introductory rate for the first 3 months after the account is opened. In order to access your funds, it must be linked to an everyday account.
  • Goal Saver Account. This account is designed for those who wants to be encouraged to save with bonus interest for making monthly deposits of at least $200 and no more than one withdrawal. There are no fees and you can access your money online, in a branch or over the phone.
CommBank Goal Saver vs Netbank Saver

To earn the bonus interest with the Goal Saver, you need to meet deposit and withdrawal conditions. However, the Netbank Saver offers the same interest rate regardless of how much you withdraw or deposit. If you're a disciplined saver and can meet the conditions of the Goal saver month to month, then it might be the option for you. Though if you're a sporadic saver and need to access your funds regularly, then the Netbank Saver may be a better fit.

  • Pensioner Security Account. For Australians aged 55 or older, this everyday account requires a $0 initial deposit and doubles as a savings account by applying interest to the monthly balance. The rate of interest applied is calculated based on the balance in the account.
Pensioner Security Account vs Netbank Saver

The Pensioner Security account is a hybrid savings account and transaction account, whereas the Netbank Saver is purely a savings account. If you're looking to easily access your funds, the Pensioner Security may be more suitable.

  • Youthsaver Account. Young Australians under 18 benefit with a bonus interest rate each time they make a monthly deposit and no withdrawals in a single month. Account holders over 16 can choose to have a keycard to make purchases directly from their savings.

What term deposits are offered by Commonwealth Bank?

The term deposit account is a flexible account where you to earn a competitive interest rate on balances starting at $5,000. Terms can range anywhere from 1 month to up to 5 years, with the rate of interest increasing when you choose longer terms.

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Any pros and cons to consider?

Pros

  • You get 24/7 online accessibility. Online access allows you to manage all of your accounts at any time.
  • Commbank has the best online banking platform. There have been many reviews praising the technology that CommBank provides – some have even mentioned as the 'best mobile/internet banking' service.
  • You get a linked debit MasterCard with your bank account for free. Unlimited ATM withdrawals and purchases made directly from your account.
  • Access to the largest ATM network in Australia. Not only does Commonwealth Bank have one of the largest ATM networks in Australia, you can also use those owned by Bankwest without being charged a fee.
  • 24/7 Customer service centre based in Australia. CommBank has a 24/7 call centre available to help you with your bank needs and it's based in Australia.

Cons

  • Monthly fees usually apply unless you meet deposit requirements. CommBank's transaction accounts usually charge a monthly fee unless you deposit a certain amount each month.
  • Not-so-competitive interest rates. Being one of the big 4, CommBank doesn't offer as competitive rates as other smaller, financial institutions.
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How do I apply for a Commonwealth Bank debit card, everyday or savings account online?

Australian residents

Commonwealth Bank makes it easy to access their products by allowing you to apply online.

  • You're at least 18 years of age. Being designed for specific age groups, you will first need to make sure that you are choosing the right account for your age bracket.
  • You can verify your identity online or at your local branch. You will first need to verify your identity. This can be done using your passport or driver’s license and other identifying information.
  • You can meet the initial deposit requirements (if there are any). With some of the savings products offered you will need to make a minimum opening deposit.

For non-residents

Are you currently a non-resident of Australia or plan to move to Australia?

You can still apply for an account by CommBank, but you'll need to do it over the phone or in person. See this page for more information.

None of the situations above apply to you?

You may be able to still apply for a CommBank savings or bank accounts. Speak to customer service representative today or visit your local branch to discuss your options.

Before proceeding to apply for a savings account, ensure you are getting the best terms and rates by doing careful comparisons with other bank’s savings accounts options.

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Read more on this topic

Savings Account Offers

Learn about our information service
ME Online Savings Account

Maximum Variable Rate

3.05%

Standard Variable Rate

1.30
ING DIRECT Savings Maximiser

Maximum Variable Rate

2.75%

Standard Variable Rate

1.60
Citibank Online Saver

Maximum Variable Rate

3.00%

Standard Variable Rate

1.70
Bankwest Hero Saver

Maximum Variable Rate

2.65%

Standard Variable Rate

0.01

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7 Responses to Compare the bank that has the largest ATM network: CommBank

  1. Staff
    Anndy | November 30, 2016

    Hi Judi,

    Thanks for your question.

    Please note that there are penalties when you withdraw from your term deposit account. You can check our guide on term deposit penalties for more information.

    Cheers,
    Anndy

  2. Default Gravatar
    Mary | June 7, 2016

    What is the best interest rate for 100000, to meet deeming requirements by Centrelink?

    • Staff
      Shirley | June 7, 2016

      Hi Mary,

      Thanks for your question.

      Please note that if your investment return is higher than the deemed income Centrelink calculates, the extra income doesn’t count towards your assessable income for your income support payment.

      At the time of writing, Commonwealth Bank is offering a pensioner security account. It’s offering 2.50% on balances over $48,600.

      The Netbank saver is offering up to 2.80% p.a.

      If you would like to compare alternatives, please see this page.

  3. Default Gravatar
    Naomi | December 9, 2015

    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 .

    • Staff
      Shirley | December 9, 2015

      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

  4. Default Gravatar
    Jon | November 6, 2015

    Is it possible to get a card that has no fees no interest no frills and no Visa or MasterCard? My

    • Staff
      Shirley | November 6, 2015

      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

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