Commonwealth Private Bank Account
The Commonwealth Private Bank Account is an interest bearing transaction account which pays a banded interest rate and is exclusively available to Commonwealth Private Bank clients.
- Base rate
- 2.1%
Interest Rates
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable The interest rate that applies on overdrawn amounts. This is calculated daily and charged monthly/quarterly. | 14.9% | — | — |
Deposit Rates
| Type | Rate | Applies To | Interest Paid |
|---|---|---|---|
| Variable Interest is paid at a banded interest rate. With interest paid on the portion of the balance within each band and subject to terms and conditions. | 0.45% | Amount | monthly |
| Variable Interest is paid at a banded interest rate. With interest paid on the portion of the balance within each band and subject to terms and conditions. | 0.45% | Amount | monthly |
| Variable Interest is paid at a banded interest rate. With interest paid on the portion of the balance within each band and subject to terms and conditions. | 0.45% | Amount | monthly |
| Variable Interest is paid at a banded interest rate. With interest paid on the portion of the balance within each band and subject to terms and conditions. | 0.45% | Amount | monthly |
| Variable Interest is paid at a banded interest rate. With interest paid on the portion of the balance within each band and subject to terms and conditions. | 1.1% |
Fees
| Fee | Type | Amount |
|---|---|---|
| Unpaid cheque or debit fee When we dishonour a cheque or debit presented to us because there isn't enough money in your account. We may waive certain fees or charges at our discretion. The failure by us to charge any fee or charge does not constitute a waiver of that fee or charge in the future. | Event | $5.00 |
| Account Fee Charged monthly · There is no account fee for this product. | Ongoing | $0.00 |
| Access fee - ASB Bank ATMs in NZ and overseas CommBank ATMs When you take money out at ASB ATMs in NZ or CommBank ATMs outside Australia.
| Withdrawal | $2.00 |
| Access fee - Other overseas cash and ATM withdrawals Any other cash withdrawals overseas will incur a fee of 3.5% of the transaction value plus a $5.00 fee.
| Withdrawal | 3.5% of transaction |
| Access fee - Overseas purchases Purchases made overseas or in Australia (e.g. online), where the merchant is located overseas or the financial institution or entity processing transaction is located overseas. |
Features
- Card access — Debit Mastercard
- Use instore, online and withdraw local currency at millions of locations, everywhere Mastercard is accepted. Choose a Debit Mastercard with your CommBank account and pay for things using your card, smartphone or wearable. You may receive access to other features and benefits associated with your Debit Mastercard subject to eligibility, approval and terms and conditions.
- Additional cards
- We may limit the number of cards that may be issued or linked to a single account or customer profile.
- Bill payment (BPAY) — BPAY View
- See, track and easily pay your bills online in NetBank or on the go in the CommBank app.
- Card access — World Debit Mastercard
- World Debit Mastercard is a premium debit card that can be linked to your CommBank transaction account, and can be used everywhere Mastercard is accepted. Enjoy additional exclusive features and benefits with the World Debit Mastercard, subject eligibility, approval, and terms and conditions. Fees apply.
- Card access — Link to Existing Card
Eligibility
- Minimum age — 18 yearsThe Commonwealth Private Bank Account is only available to personal customers over 18 years of age and have an Australian residential address.
- The Commonwealth Private Bank Account is available to non-personal customers who have a domestic business, an ABN or ACN with signatories aged 18 and above or signatories after 16 to 18 with another signatory being at least 18 years old; or be a foreign company that carries on business within Australia, registered with ASIC and be determined on a case by case basis.
More Information
Published by CommBank under the Consumer Data Right · Last updated 16 July 2026 · Product ID c50f2a2cf77c47248ebbb565d2d6c1cb · View on CDR.gov.au