Commonwealth Bank Streamline Basic
Get your pension paid to the Streamline Basic and pay no account or transaction fees.
The Commonwealth Bank waives monthly account keeping fees and transaction fees when you get your pension paid directly into the Streamline Basic Account. If you’re a pensioner, this account can simplify your everyday banking giving you unlimited free online and staff-assisted branch withdrawals.
Account keeping fee
ATM withdrawal fee
Overseas transaction fee
of transaction value
|Product Name||Commonwealth Bank Streamline Basic|
|Monthly account fee||$0|
|ATM Withdrawal Fee||$0|
|International transaction fee||3%|
|Monthly deposit required to waive account fee||N/A|
|Contactless Payments||Google Pay, Apple Pay, Samsung Pay, Fitbit Pay, Garmin Pay|
Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.
This transaction account is available to customers with a valid seniors card, healthcare card or pensioner concession card. The account charges no monthly account keeping fees and customers have no minimum balance to maintain or monthly deposit condition to meet.
This account also offers easy access to your money in a number of ways, including via the linked Debit MAstercard, Internet and mobile banking and you can also make unlimited free transactions in a CommBank branch with the assistance from bank staff. This could be helpful if you often receive assistance to deposit cash or cheques or make withdrawals from the account.
If you’re not eligible for this account, you can take a look at the CommBank Smart Access Account instead.
No application fee, monthly account keeping fees and no fees if you overdraw your account. International transaction fees such as currency conversion fees and international ATM fees apply when you use the Mastercard Debit Card to make a purchase outside of Australia.
Visa Debit Card or Keycard
Choose between a Commonwealth Bank Keycard or a Commonwealth Bank Debit Mastercard. Use the Keycard to make free EFTPOS purchases at shops and free ATM withdrawals at over 4,000 Commonwealth Bank and Bankwest ATMs. The Debit Mastercard lets you do this too, as well as make online and over the phone purchases in Australia and overseas wherever Mastercard is accepted.
The Debit Mastercard lets you tap and go for purchases under $100 using Mastercard PayPass.
Over the counter account access
Make free unlimited staff assisted over the counter withdrawals at over 1,000 Commonwealth Bank branches.
Electronic account access
Free unlimited telephone and internet banking transactions. Register for Netbank so you can pay bills using BPAY from your computer, tablet or smartphone 24/7. Netbank also lets you view your account balance and set up recurring payments such as direct debits to your telecommunications provider.
Instant transfers between Commonwealth Bank accounts
Make instant transfers between the Commonwealth Bank Streamline Basic transaction account and Commonwealth Bank savings accounts when you register for Netbank.
For pensioners and concession card holders
You must be a pensioner and have your pension paid into the Streamline Basic. Provide a valid Commonwealth Seniors Health Card, Pensioner Concession Card or Health Care Card when you apply for this account in person.
How to applyThis account must be opened in person. You need to provide a valid Commonwealth of Australia concession card to the Commonwealth Bank to apply for this account.
The following eligibility criteria apply:
- Age. You must qualify for the Australian aged pension to apply for the Commonwealth Bank Streamline Basic.
- Pension holders. You must supply a Department of Human Services (DHS) concession card to the Commonwealth Bank to apply for this everyday bank account. Eligible concession cards include the Senior's Health Card, Pensioner Concession Card or the Health Care Card.
- Residency. You must be an Australian resident to apply for this account.
- Deposit. There is no minimum deposit required to open the Streamline Basic everyday bank account.
Commonwealth Bank requires you to continue to verify your eligibility for the Streamline Basic account. You may be asked to visit a Commonwealth Bank branch a period of time after the account has been opened to show your valid concession card. Commonwealth Bank can switch the Streamline Basic to the Everyday Account Smart Access bank account if you fail to verify your eligibility.
As well as providing a valid DHS concession card, you'll need to give the following information to the Commonwealth Bank to open the Streamline Basic account.
- Identification. Provide one form of primary identification or a combination or non-photographic identification when you apply for the Commonwealth Bank Streamline Basic. Primary photographic identification can include your state or territory drivers licence, proof of age card or passport. Secondary non-photographic identification can be your Centrelink, Medicare or DHS concession card.