Commonwealth Bank Corporate charge card

Last updated: Jan 28, 2020

Manage spending across your entire business and simplify accounting tasks.

The Commonwealth Bank Corporate charge card gives you a single account where you can track and manage spending across departments, with additional cards for employees.

As a charge card, you won’t pay interest on your spending. Instead, you can set up direct debit so that the full account balance is paid by the due date.

$40 p.a.

Annual fee

Details

Product Name	Commonwealth Bank Corporate Charge Card
Purchase rate (p.a.)	N/A
Annual fee	$40 p.a.
Card type	Mastercard
Foreign currency conversion fee (Visa/Mastercard)	2.5%
Complimentary travel insurance	Yes

Minimum age	18 years of age
Available to temporary residents	No
Joint application	No

Pros

Customised control for different cardholders
CommBiz access which lets you manage your business account and make payments online 24/7, order new cards or PINs and change card limits
Comes with complimentary transit accident and unauthorised use insurance covers

Cons

A $300 establishment fee applies

Annual fee	$40 p.a.
Foreign currency conversion fee (Visa/Mastercard)	2.5%
Cash Advance Fee	$1.25
Overseas cash advance fee	1.25% or $4, whichever is greater
Number of Additional Cardholders	9,999

Expert review

Review by

Amy Bradney-George

amy.bradney-george@finder.com

Amy Bradney-George is the acting editor for Finder X and a senior writer for credit cards and Finder Green. She has more than 13 years' experience as a journalist and writer, with bylines in publications including The Equity Magazine, The Sydney Morning Herald, ABC News and produce industry website FreshPlaza. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University, and when she’s not putting (virtual) pen to paper, she spends her time as an actress.

Expert review

The Commonwealth Bank Corporate charge card gives large businesses a way to manage travel, procurement and other everyday expenses through one account. The annual fee you pay for this facility is based on the number of cards you add to it, starting at $40 per cardholder for 1-49 cards, $32 each for 50-499 cards and $24 per card for more than 500 cardholders.

With this account, the outstanding balance is automatically debited each month from a nominated account. This means you and your team will be able to make purchases throughout the month without paying any interest. However, you won’t be able to carry a balance beyond the monthly payment date. So if you need that flexibility, make sure you look at other business credit card options.

How to apply

You can apply for the Commonwealth Bank Corporate charge card by calling the business banking team on 13 19 98 at any time. Get started by reading through the following eligibility criteria for this product to make sure it is a suitable option for your business.

Eligibility criteria

Business requirements. You must intend to use this account primarily for business spending.
Age. You must be at least 18 years old to apply.

Required documents

Personal details. This includes your full name, contact details and a valid form of ID. These details need to be provided for all business owners and partners that are applying for the account. You also need to provide basic details for each additional cardholder.
Business details. This includes your business name and address, as well as the ABN (Australian Business Number), ACN (Australian Company Number), ARBN (Australian Registered Body Number) or ARSN (Australian Registered Scheme Number).
Financial details. This covers the financial details for your business, such as the annual turnover, profit and loss statements and contact details for your accountant. You may also be asked for some personal financial details, such as liabilities and assets, as part of the application.

Card benefits

Easy account management. With this card, you can set up automatic payments so that the outstanding balance is debited from a nominated account each month.
No interest charges. As a charge card, there is no interest rate for the account.

Customisable card features. Set different daily spending limits and monthly credit limits for each cardholder so that your employees have access to the money they need for business expenses.
CommBiz access. Make payments online 24/7, order new cards or PINs, change card limits, cancel or reissue a card and get access to a range of analytics and expenditure forecast tools with this online banking service.
Individual card management. All cardholders can manage their PIN or view statements online with NetBank, which means both managers and individual employees can keep track of their charges.
Complimentary insurance. The Commonwealth Bank Corporate Charge Card comes with complimentary transit accident insurance for up to $250,000 for cardholders and complimentary unauthorised use insurance up to $150,000 per year. (Terms and conditions apply.)
Worldwide acceptance. This card can be used at more than 36 million merchants worldwide, wherever Mastercard is accepted.

Rates & fees

Annual fee. This card charges annual fees of $40 per cardholder for 1-49 cards, $32 each for 50-499 cards and $24 per card for more than 500 cardholders.
Establishment fee. A $300 charge is applicable when you accept CommBank's offer for this card or if you request and are approved for a credit limit increase.

Cash advance charges. The cost of cash advances start from $1.25 for a Commonwealth Bank ATM cash advance and go up to $4 or 1.25%, whichever is greater for overseas cash advances.
International transaction fee. A 2.5% fee is applied for any purchases made overseas or in an international currency.
Non-Commonwealth Bank ATM balance enquiry fee. Any balance enquiries made outside the Commonwealth Bank ATM network will attract a $1.25 fee.
Personalised card design. Put your corporate logo or artwork on the card for a more customised design (fee applies).

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Commonwealth Bank Corporate charge card