With the Commonwealth Bank’s Smart Access everyday account you can withdraw money for free through one of the most extensive ATM networks in Australia. You'll get a linked debit MasterCard giving you the convenience of shopping in-store, online and over the phone. You can also track your spending 24/7 using the popular CommBank app.
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Commonwealth Bank Smart Access everyday account
- Fee Free Deposit
- $2,000
- Account keeping fee
- $4
- ATM withdrawal fee
- $0
- Overseas ATM withdrawal fee
- $5
Our verdict
This is a transaction account for everyday spending that charges no account keeping fees if you're under 25, a student or if you deposit $2,000 a month.
The Smart Access account is designed to manage your everyday spending, pay bills and get paid. You can keep track of your spending with the CommBank app, which is the number 1 banking app in Australia. The app automatically groups your spending into different categories (for example entertainment and eating out) so you can get a better idea of where your money is going. You can also use the app to get cash out from eligible CBA ATMs without your debit card.
There is a $4 monthly account fee which can be waived if you’re under 25, a student or when you deposit $2,000 a month. This deposit requirement is quite high, so make sure you can realistically meet this before opening this account otherwise you’ll be charged the monthly fee.
You can access all CommBank ATMS in Australia and around the world for free, but there’s an international transaction fee of 3% applied when you make purchases overseas with the debit card and when you shop online from overseas retailers. If this is something you do quite often, there are debit cards that don’t charge this fee available.
Pros
-
Unlimited transactions online
-
Account keeping fee can be waived if $2000 is deposited in this account monthly
-
Free access to 4,000+ ATMs and 950 branches
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Access to CommBank app and NetBank
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Withdraw cash without your debit card with Cardless Cash
-
Tap and Pay on Android and iPhone (with PayTag)
Cons
-
Overseas ATM fees may apply
-
There is a 3% foreign currency transaction fee
-
Must deposit $2000 each month for the account keeping fee to be waived
Details
Key details
| Product Name | Commonwealth Bank Smart Access |
| Monthly account fee | $4 |
| Card access | Mastercard |
| Own network ATM fee | $0 |
| International ATM Fee | $5 + 3% |
| International transaction fee | 3% |
| Monthly deposit required to waive account fee | $2,000 |
| Contactless Payments | Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay |
Eligibility
| Minimum Age | 14 |
| Joint account availability | No |
| Minimum opening deposit | N/A |
Key features
$0 Monthly fees when you deposit $2,000 per month (other eligibility criteria can also apply)
You are charged a $4 monthly maintenance fee with this account. That fee is waived each month you are able to make a total of $2,000 in deposits. For individuals aged 21 to 24, you only need to deposit $1,000 to have the fee waived. For those under 21 or on Student Options that fee is also waived.
Linked Debit Mastercard
The account is linked to a debit Mastercard which can be used to make withdrawals and purchases using the balance in your account.
Your reviews
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Alison Finder
Editor
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Alison Banney Finder
September 21, 2023
Hi, you just need to start the online application form by clicking “Apply now” on the bank’s website. You’ll need to verify your identity with 2 forms of ID.
Karen
July 12, 2023
Where I live we have no ATMs or bank outlets. Can you tell me if there is a fee for withdrawing money at a Post Office from Commonwealth bank accounts?
Sarah Megginson Finder
July 13, 2023
Hi Karen,
You can withdraw up to $2,000 per transaction using your CBA card. Australia Post does not charge any extra fees for its Bank@Post services, and at the time of writing CBA doesn’t charge any fees either.
Hope this helps!
Rishav Ghosh
May 24, 2023
Do I get to access my statements on a regular basis or is it monthly ? Other than app, does Smart Access allow internet banking ?
Alison Banney Finder
June 08, 2023
Hi, you can access your account via Internet banking and see current statements and full transaction history.
vivienne
May 19, 2023
re CommBank Everyday Smart Access a/c: do I need to have the balance of 2000 in the a/c at all time?
Sarah Megginson Finder
May 19, 2023
Hi Vivienne,
As long as you deposit at least $2,000 (or $1000 for those aged 21-24; $0 for those under 21) the monthly account keeping fee is waived. The balance can drop below $2000 without impacting this fee waiver and there is no minimum balance requirement for this account.
Hope this helps!
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Lachie
July 01, 2022
Can you have foreign currencies in this account?
Alison Banney Finder
July 10, 2022
Hi Lachie,
While the account can transfer and receive funds abroad, it can’t hold foreign currencies since the money will be automatically converted after it’s received. If you’re in search of an account that allows you to hold several different currencies at once and switch between currencies when needed, you can look into getting a foreign currency account. You can explore and compare accounts here.
All the best,
Alison
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JUAN
September 18, 2023
Hello, how do I apply to open the account online?