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Transaction Fees

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Our transaction fees explained

As a customer-owned bank, we are committed to helping you manage your funds easily and at low cost.

Our transactions have been grouped into three categories:

  • Unlimited Free Transactions - can be used as often as you like without incurring fees.
  • Limited Free Transactions - Can be used in line with your monthly quote. When you have exceeded your limited free transactions, each transaction thereafter is charged the applicable fee.
  • Pay Per Use Transactions - are charged on a pay per use basis.

By using as many ‘Unlimited Free Transactions’ as possible and your allocation of ‘Limited Free Transactions’ you can minimise the fees you pay and transact fee-free. ‘Pay Per Use Transactions’ should be avoided where possible.

Our different transaction groups, transaction allowances and the associated transaction fees are outlined below


Important Information
*Non CBA ATM withdrawals may be charged at the time of transaction by the ATM operator.
Note: Full-time students may apply for transaction fee exemptions


Avoiding fees

Would you like to avoid transaction fees?

We are committed to being upfront and honest about fees and showing you how to get the most from low cost banking. Following the below guidelines will help you keep your transaction fees low.

Withdrawing Cash

  • To avoid fees and maintain a budget, try to withdraw enough cash from a Commonwealth Bank ATM or EFTPOS to last the whole week. This will help you stay under your monthly quota of Limited Free Transactions and avoid associated fees.
  • When possible, try to only use Commonwealth Bank ATMs. Although we do not charge for transactions at other ATMs, the ATM operator is likely to.
  • If you do happen to exceed your monthly quota of Limited Free Transactions, using EFTPOS will help you to reduce potential fees. So even if you have exceeded your six monthly Limited Free EFTPOS transactions, you can continue to withdraw cash with a charge of only $1.50 each time.

Paying Bills

  • Try to use Phone or Internet Banking as often as you can to take advantage of Unlimited Free Transactions.
  • Instead of writing a cheque, try to pay your bills and other payments using BPAY or Direct Debit, which are also Unlimited Free Transactions.


  • When making purchase, try to withdraw cash using EFTPOS instead of finding yourself at an ATM later. This way you will only use one Limited Free Transaction instead of two.
  • If you don't need cash, try to use the 'Credit' option, which counts as an Unlimited Free Transaction.

Full-time Tertiary Students

We exempt full-time students from all transaction fees. If you are enrolled full-time at University, TAFE, CAE or another registered institute, just provide us with proof of enrolment.

Visa Credit Cards

We offer two different Credit Cards so you can choose the one that best suits your lifestyle:

  • Visa Platinum Credit Card – offers a very competitive interest rate on your purchases, up to 55 days interest free* and exclusive Visa Platinum privileges.
  • Visa Classic Credit Card – offers a low interest rate, no annual fee and up to 55 days interest free*

To avoid interest charges you need to be a bit disciplined and try to pay the full balance by the due date. Additionally, try to avoid using your Visa Credit Cards for over the counter cash and ATM withdrawals.

Visa Debit Card

Our Visa Debit card lets you easily access your funds anywhere in the world, 24/7. It’s not a credit card, but has all the convenience of one and allows purchases to be directly debited from your transaction account.

  • Try to only use Commonwealth Bank ATMs. Although we don’t charge for transactions at other ATMs, the ATM operator is likely to.


Important Information
*Does not apply to cash advances.


Case studies

We respect that every customer banks differently. Below are case studies of three customer’s transactional habits. How they use their accounts determines what fees, if any, they pay. Try to use these studies to reflect on your own banking habits and ways you too can avoid fees.

Case Study 1

Jane is a teacher who has her salary paid directly into her Everyday Account. She has arranged for part of her wage to be automatically redirected into her Budget Account and uses this cash for expenses and bills. Jane has organised her banking to avoid all transaction fees:

  • Jane withdraws cash weekly from a Commonwealth Bank ATM to cover all weekday expenses and weekend activities, up to 4 times a month. (Cost per month = $1)
  • If Jane makes a purchase with her Visa Debit Card and doesn’t need cash, she always presses ‘credit’.(Cost per month = $1)
  • Jane uses BPAY to pay all her bills straight from her Budget Account. (Cost per month = $1)
  • Using Internet Banking, Jane regularly transfers money from her Everyday Account into her Online Saver.(Cost per month = $1)

Total cost per month = $1

Jane has conducted all of her banking fee free.

Case Study 2

Adam, a Business Manager for a Primary School, is saving up to buy a house and is keen to avoid fees. His clever transaction habits help him do exactly that:

  • Instead of writing cheques, Adam uses Internet Banking to make electronic transfers to other accounts, arranges for Direct Debits to come directly out of his account and uses his Visa Debit Card for online purchases. (Cost per month = $1)
  • Adam has arranged for part of his salary to go directly into his Bonus Saver Account. (Cost per month = $1)
  • Adam uses EFTPOS to withdraw cash by pressing the ‘savings’ button when making a purchase, no more than five times a month. (Cost per month = $1)

Total cost per month = $1

Adam has also managed to bank fee free.

Case Study 3

Michelle recently graduated and has just started working as a teacher. She has not managed to avoid all fees.

  • Michelle makes two EFTPOS purchases a week by pushing the 'savings' button. (Free transactions per month for EFTPOS = 6, transactions used = 8. Cost per month: 2 x $1.50 = $1.00)
  • Michelle makes 6 monthly cash withdrawals at Commonwealth Bank ATMs. (CBA ATM free transactions per month = 4, transactions used = 6. Cost per month: 2 x $1.80 = $3.60)
  • When transferring cash to family Michelle uses Internet Banking to make an external transfer with a BSB and Account number. (Cost per month = $1)

Total cost per month = $4.60

Michelle does pay a small fee, but this is still lower than the $5.00 flat fee demanded by some major banks. With a few small changes, Michelle too could bank fee free. For example:

  • Whenever Michelle doesn’t need cash with a purchase, she should press the ‘Credit’ button, which counts as an Unlimited Free Transaction. This means she will not exceed her 6 free EFTPOS transactions per month.
  • Michelle should try to make no more than 4 Commonwealth Bank ATM withdrawals a month. For extra cash, she can use the ‘savings’ button and withdraw with a purchase using EFTPOS .