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Change to NetBank Terms and Conditions
From 9 October 2009, the terms and conditions of NetBank in the following brochures will change as shown below:
• BusinessChequeandSavingsAccountGeneralInformationandTermsandConditionsbrochure,dated30March2009,(‘thebusinessaccountsbrochure’),page39.
• Transaction,SavingsandInvestmentAccountsGeneralInformationandTermsandConditionsbrochure,dated30March2009,(‘thepersonalaccountsbrochure’)page43.
• ElectronicBankingGeneralInformationandTermsandConditionsbrochure,dated2March2009(‘theelectronicbankingbrochure’),page22.
1. At the heading ‘Daily limits for transfers through e-banking’ on page 43 of the personal accounts brochure and page 22 of the electronic banking brochure and at the heading ‘Daily Limits for Electronic Banking’ on page 39 of the business accounts brochure, amend the 4th bullet point to read as follows:
“$1,000($2,000ifyouregisterfrom10October2009)whentransferringtoanon-linkedaccount(forexample,anotherperson’saccountoranaccountatanotherfinancialinstitution).”
Change to Statement Frequency
From30October2009,thestatementfrequency(standardcycle)forStreamlineAccountsshowninthefollowingbrochurewillchangeasshown below:
• Transaction,SavingsandInvestmentAccountsGeneralInformationandTermsandConditionsbrochure,dated30March2009,pages8and26.
1. In the table headed ‘Features summary (cont.)’ on page 8, amend the row for ‘Receive regular statements’ for ‘Streamline Account’ to read ‘Half Yearly1’.
2. In the table headed ‘When we will send you an account statement’ on page 26, amend the ‘Frequency of statement (standard cycle)’ for ‘Streamline Account’ to read ‘Every 6 months’.
Important Notice to Commonwealth Bank Customers
CommonwealthBankofAustralia48123123124AFSL234945.ADV12297090909(004-239)
This brochure contains the Terms and Conditions
for the following accounts:
• Debit MasterCard® Transaction Account
(Smart Access and Complete Access)
• Streamline Account
• Pensioner Security Account
• AwardSaver Account
• Youthsaver Account
• NetBank Saver Account
• Cash Investment Account
• Savings Investment Account (existing account
holders only – no longer available for sale)
• Cash Management Call Account (existing account
holders only – no longer available for sale)
If you have any questions on the terms and
conditions or fees and charges, ask our staff
or call us on 13 2221.
General Information and Terms and ConditionsDated 30 March 2009
These products are issued by the Commonwealth Bank of Australia
ABN 48 123 123 124 AFSL 234945
Transaction, Savings and Investment Accounts.
1 About these Terms and Conditions
2 Section 1: Choosing the right account 2 • Which account suits your needs?
5 • What are the risks?
6 • Features summary
10 Section 2: Opening and operating your Transaction, Savings and Investment accounts
11 • Code of Banking Practice
12 • How to open an account
18 • Making deposits
19 • Financial Claims Scheme and Australian Government Guarantee Scheme for Large
Deposits and Wholesale Funding
20 • Making withdrawals, purchases and payments
24 • What interest can you earn?
26 • Your account statement
27 • Changes to your Terms and Conditions
28 • Customer information and privacy
30 • What if you have a complaint?
32 Section 3: Card and electronic access to your account33 • Part A: Overview of e-banking
37 • Part B: Special conditions relating to Debit MasterCard (for Smart Access
and Complete Access accounts only)
40 • Part C: Special conditions relating to Internet Banking and Phone Banking
49 • Part D: General conditions
60 Section 4: Fees and charges 62 • Quick reference to fees and charges
66 • Electronic withdrawal fees
66 • Assisted withdrawal fees
67 • Access fees
68 • Overdrawing Approval Fee
69 • Fees for common banking services
71 • NetBank Service Fees
73 • Government charges
74 • Exemptions from fees
78 • Withdrawals that do not attract any fees
78 • Relationship Balance
80 Meanings of words 83 Where to get help
The MasterCard® brand mark is a registered trademark of MasterCard International Incorporated.
Contents
1
This brochure contains information to help
you make an informed decision about
the banking product(s) that best suit your
needs, and to help you compare them with
others you may be considering.
Section 1 – This section provides general
information on transaction, savings and
investment accounts and their features and
benefi ts. You should read this section to fi nd
out which account is right for you.
Section 2 – This section sets out Terms and
Conditions applicable to all accounts in this
brochure.
Section 3 – This section sets out Terms and
Conditions applicable to card and electronic
access to all accounts in this brochure.
Section 4 – This section tells you about the
fees and charges that may apply to
your account.
Contractual relationshipSections 2 and 3 of this brochure form
the Terms and Conditions of the contract
between you and us if you decide to open
an account. There are also Terms and
Conditions that may apply by operation
of law. Please read this brochure before
opening an account. You will then know
what to expect from us and what we expect
from you. You can ask us questions about
any of the Terms and Conditions which
you do not understand and so avoid
misunderstandings. If you open an account,
then you should keep this brochure and all
other documentation for future reference.
Defi nitions of important words and terms can
be found on pages 80 to 82, together with a
list of useful contact numbers (on pages 83
and 84) if you need help with your banking.
About these Terms and Conditions
2 3
Section 1: Choosing the right account
Which account suits your needs?The Bank has a range of personal transaction, savings and investment accounts to suit your
requirements. Each account provides a wide range of features and benefi ts.
Transaction, savings and investment accounts include:
• Debit MasterCard Transaction Account (Smart Access and Complete Access)
• Streamline Account
• Pensioner Security Account
• AwardSaver Account
• Youthsaver Account
• NetBank Saver Account
• Cash Investment Account
Features and benefi tsRead this section to compare the features and benefi ts offered by each type of account.
These accounts are for personal use only.
Transaction accounts
Debit MasterCard
Transaction Account
An everyday all-in-one bank account that allows you to access your own
funds with a Debit MasterCard. By using your Debit MasterCard, you can
use your own money to purchase or pay for goods and services over the
phone or Internet.
The account offers you fl exibility, choice, access to Australia’s largest
banking network and MasterCard acceptance worldwide. For a low fl at
monthly fee you can choose from:
Smart Access: unlimited Commonwealth Bank electronic transactions.1,2
Complete Access: unlimited Commonwealth Bank transactions.1
(Smart Access and Complete Access are options of the Debit MasterCard
Transaction Account.)
A Debit MasterCard contains new secure microchip technology which
enhances the security of the card by making it more diffi cult to fraudulently
copy the details of your card. The chip does not hold any personal
information, just the advanced security software that protects you from
fraudulent transactions. The Debit MasterCard also has a magnetic stripe
to ensure that you can still transact anywhere you go.
Transaction accounts
Debit MasterCard
Transaction Account
(cont.)
Another great feature of a Debit MasterCard is PayPass™ which allows you
to make payments by simply tapping your card against a PayPass reader
for purchases of $35.00 or less. Once the transaction is confi rmed, you’re
done. There is no need to sign or enter a PIN.
Certain customers can be exempt from fees on these accounts. (Refer to
the ‘Exemptions from fees’ table on pages 74 to 77 for details.)
Buying goods, paying bills and managing your fi nances is easy with these
accounts using EFTPOS, Telephone Banking, NetBank, direct debit, BPAY®
and MasterCard acceptance worldwide. You can also have your pay and
other income credited to your account and there is an optional cheque
book offered.
For customers aged 18 years or over.
For customers who maintain an Australian residential address.
An overdraft facility is available to approved applicants.
Minimum opening balance: No minimum.
Streamline Account An everyday all-in-one bank account (including a Keycard) that offers you
fl exibility, choice and access to Australia’s largest banking network. For a
low fl at monthly fee you can choose from:
Streamline e-Access: unlimited Commonwealth Bank electronic
transactions.1,2
Streamline Unlimited: unlimited Commonwealth Bank transactions.1
Certain customers can be exempt from fees on this account.
(Refer to the ‘Exemptions from fees’ table on pages 74 to 77 for details).
Buying goods, paying bills and managing your fi nances is easy with the
Streamline Account, using EFTPOS, Telephone Banking, NetBank and
direct debit or BPAY. You can also have your pay and other income credited
to your account, and if you are 18 years or over there is an optional cheque
book offered.
An overdraft facility is available to approved applicants aged 18 years
or over.
Minimum opening balance: No minimum.
1 Excludes all ATMs overseas, EFTPOS and Debit MasterCard transactions overseas or involving currency conversion,
transfer group payments to third parties, International Money Transfers and separate services such as bank cheques,
periodic payments and transfers/deposits to other banks.
2 Smart Access and Streamline e-Access Account also exclude assisted withdrawals and cheques written.
® Registered to BPAY Pty Ltd ABN 69 079 137 518.
4 5
Transaction accounts
Pensioner Security
Account
An all-in-one transaction account that lets you earn attractive interest
with at-call access. Designed for independent retirees aged 55 and over
or recipients of an eligible pension or allowance. (See page 81 for
eligibility requirements.)
You receive the Keycard/Cheque option when you open a Pensioner
Security Account.
Minimum opening balance: $2,000.
Savings accounts
AwardSaver
Account
A savings account that lets you grow your savings faster, with bonus
interest when you make at least one deposit and no withdrawals during a
calendar month.
Use your Keycard to access your money via ATMs (24 hours a day, 7 days
a week) and EFTPOS (where available).
For customers aged 18 years or over.
Minimum opening balance: $1 if a regular electronic deposit is arranged
(such as your salary or other income being directly credited to your
account), otherwise $100.
Youthsaver
Account
A dedicated savings account for customers under the age of 18 who want
an account with no account keeping or withdrawal fees (access fees and
NetBank service fees may apply) – refer to page 63 (for Youthsaver) for
details on fees.
Youthsaver rewards saving through bonus interest if you make at least one
deposit and no withdrawals in a calendar month. It has no minimum
withdrawal or deposit amount. Funds are available at call.
Convenient access (parent/guardian’s consent required for customers
under the age of 16) to funds through ATMs, Telephone Banking
or NetBank.
Minimum opening balance: No minimum.
Savings accounts
NetBank Saver
Account
An online savings account with a competitive rate, no bank fees and instant
access to your savings.
You must have a Smart Access, Complete Access or Streamline Account to
enable transfers in and out of your NetBank Saver Account.
Park or invest your money
Cash Investment
Account
An account for people who want to earn competitive interest and who want
at-call access to their cash without needing full transactional functionality.
This account also offers an optional cheque book.
Minimum opening balance: $10,000.
Section 1: Choosing the right account
What are the risks?All fi nancial investments involve a certain
amount of risk. The products offered in this
brochure are all low risk investments. You
should also be aware of other risks such as
the possibility of unauthorised transactions
on your account. Please refer to page 55
for details.
In addition, there is a risk that you may not
be able to access your account information
or make transactions through a service which
is reliant on computer and/or
telecommunications systems. The Bank is
dependent on the reliability of its own
operational processes and those of its
technology and telecommunications partners
in respect of computers, computer networks
and telecommunications. Disruptions to these
processes may result in banking services
being unavailable from time to time.
Cheques deposited to your account will
generally take 3 working days to clear and
funds should not be relied upon until such
time as they are cleared. Cheque books
should be kept in a safe place to ensure
that unauthorised drawings do not occur.
If you instruct us to accept facsimile
signatures to authorise debits from your
account, you will need to provide a separate
authority and indemnity. Unless you have
provided a separate authority and indemnity,
we will not accept facsimile signatures as
authority to debit your account. If you do
authorise us to accept facsimile signatures,
you accept the risk of any unauthorised
transactions on your account initiated by
facsimile signatures.
6 7
Features summary
TRANSACT SAVE PARK/INVEST
Features (also refer to the fees and charges
summary table on pages 62 to 65)
Smart
Access
and
Complete
Access
Streamline
Account
Pensioner Security
Account
AwardSaver Account Youthsaver Account
NetBank Saver
Account
Cash
Investment Account
Passbook7
Option
Keycard/
Cheque
Option
Secure chip technology and PayPass ✓
Pay for purchases by mail order, telephone or
online using Debit MasterCard✓
Pay for purchases overseas using Debit
MasterCard✓
ATM access – Australia/New Zealand/Indonesia/
Vietnam and worldwide (where you see
MasterCard)
✓
ATM access – Australia/New Zealand/Indonesia/
Vietnam and worldwide (where you see Maestro/
Cirrus or Visa Plus)
✓ ✓ ✓ ✓3 ✓
Access funds using your linked Commonwealth
Bank credit card✓ ✓ ✓ ✓ ✓4 ✓
Transact at Commonwealth Bank branches ✓ ✓ ✓2 ✓ ✓ ✓3 ✓
Keycard (debit card) access, with choice of
Personal Identifi cation Number (PIN)✓ ✓ ✓ ✓3 ✓
Passbook account7 ✓
Cheque book option available 18 years
and over
18 years
and over✓ 18 years
and over
Pay most bills over the phone, or via NetBank
using BPAY
✓ ✓ ✓ (excludes
NetBank)
✓ ✓ NetBank
only3
✓
Receive some bills electronically via BPAY View™,
then view and pay those bills using NetBank✓ ✓ ✓ ✓ ✓
Pay for purchases (and withdraw cash at
retailer’s discretion) using EFTPOS terminals✓ ✓ ✓ ✓ ✓3 ✓
Internet Banking through NetBank ✓ ✓ ✓ ✓ ✓ ✓3,5 ✓ ✓
Table continued overleaf. Footnotes are listed at the end of the table.
8 9
Features summary (cont.)
TRANSACT SAVE PARK/INVEST
Features (also refer to the fees and charges
summary table on pages 62 to 65)
Smart
Access
and
Complete
Access
Streamline
Account
Pensioner Security
Account
AwardSaver Account Youthsaver Account
NetBank Saver
Account
Cash
Investment Account
Passbook7
Option
Keycard/
Cheque
Option
Telephone Banking ✓ ✓ ✓ ✓ ✓ ✓3 ✓ ✓
Transfer funds automatically via authorised direct
debit and/or direct credit✓ ✓ ✓ ✓ ✓ ✓3
Direct credit only✓
Make periodic payments ✓ ✓ ✓ ✓ ✓ ✓3 ✓
May qualify for bonus interest ✓ ✓
Receive regular statements Quarterly Quarterly1 Quarterly Half-yearly Half-yearly Half-yearly Quarterly
Funds available at call ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Fee exemptions may apply ✓ ✓ ✓ ✓ ✓ ✓ N/A ✓
Deposit at school via Student Banking facilities Participating schools6
Minimum opening balance No
minimum
No
minimum$2,000
$1 if regular electronic
deposit established (such
as direct credit of your
salary), otherwise $100
No minimum No minimum $10,000
5 Enquiry only access to NetBank to view accounts and check balances online available for customers under 16 years
of age with parent/guardian consent.
6 Schools participating in Student Banking receive a commission payment of $5 for every Youthsaver Account opened
through them, and may receive commission for processing deposits.
7 Existing account holders only – no longer available for sale.™ Registered to BPAY Pty Ltd ABN 69 079 137 518.
1 Half-yearly if under 18.
2 Passbook transactions are not available at some branches opened after 1 August 2008. Please call 13 2221 to
check availability.
3 If 16 years or over, or under 16 with parent/guardian consent. Parents/guardians can transact if their Commonwealth
Bank account(s) is linked to their child’s Youthsaver Account.
4 For parents/guardians if their Commonwealth Bank account(s) or Commonwealth Bank credit card is linked to their
child’s Youthsaver Account.
10 11
Code of Banking PracticeWe observe the provisions of the Code of
Banking Practice. The Code is applicable
to Sections 2 and 3 of this brochure.
Relevant provisions of the Code apply
to the accounts in this brochure if they
are held by individuals or by small
business customers.
The Code is a voluntary code of conduct
which sets standards of good banking
practice for us to follow when dealing with
you. We have prepared an information
booklet, The Better Banking Book, which
contains useful information on a range of
banking matters including:
• the rights and obligations that arise out
of the banker and customer relationship;
• account opening procedures;
• our obligations regarding confi dentiality
of your information;
• our complaint handling procedures;
• bank cheques;
• the importance of you informing us
promptly when you are in fi nancial
diffi culty;
• the importance to you of reading the
Terms and Conditions applying to any
banking service provided to you or
in which you are interested; and
• how to use a cheque account.
Any of the Terms and Conditions in Sections
2 and 3 which cancel, limit or modify our
liability to you, do so only to the maximum
extent permissible by law.
These Terms and Conditions do not exclude
or modify those of your rights which cannot
be excluded or modifi ed under legislation
applying to your account.
Where to obtain a copy of …The Better Banking Book
• Any branch of the Commonwealth Bank
• Call 13 2221
(24 hours a day, 7 days a week)
• Ask your relationship manager
Code of Banking Practice
• Any branch of the Commonwealth Bank
• Call 13 2221
(24 hours a day, 7 days a week)
• Ask your relationship manager
• Visit our web site commbank.com.au
This section, in conjunction with Section 3 of this brochure, forms the Terms and Conditions
of the contract between you and us if you decide to open an account. These Terms and
Conditions become binding from the time you open an account. From that time, we and
you undertake to keep to the Terms and Conditions.
How to open an account You can open your account in a variety of ways.
This section tells you about things you need to
consider when opening your account.
Page 12
Making deposits Ways to make a deposit into your account, transfer
funds and alter or stop regular payments.
Page 18
Financial Claims Scheme and Australian Government Guarantee Scheme for Large Deposits and Wholesale Funding
Information about these Schemes. Page 19
Making withdrawals, purchases and payments
This section tells you about how to make withdrawals,
purchases and payments, and how to transfer funds,
establish overdraft facilities and cancel or alter a direct
debit authority or periodical payment.
Page 20
What interest canyou earn?
Find out what interest your account can earn and when
we pay interest.
Page 24
Your account statement Information on when we send you an account statement
and how to fi nd out the balance of your account.
Page 26
Changes to your Terms and Conditions
We tell you about how and when we keep you informed
of changes in your Terms and Conditions.
Page 27
Customer information and privacy
How we safeguard your privacy and why the Bank
collects or may disclose customer information.
Page 28
What if you have a complaint?
How we handle complaints and disputes. Page 30
For the meanings of key words included in this section, refer to the ‘Meanings of words’
on pages 80 to 82.
Section 2: Opening and operatingyour Transaction, Savingsand Investment accounts
12 13
We must verify your identityAt the time of opening an account, we
are required to verify the identity of each
signatory by relying on independent
documents or data.
If you are a new customer of the
Commonwealth Bank or have not previously
been adequately identifi ed by us, you will be
required to provide the following identity
documentation:
• one Primary Photographic Identifi cation
Document; or
• two Primary Non-Photographic
Identifi cation Documents; or
• one Primary Non-Photographic and one
Secondary Identifi cation Document.
Examples of these may include:
Primary Photographic Identifi cation
Documents (must contain your photograph)
• Passport;
• Australian driver’s licence;
• proof of age card issued in Australia.
Primary Non-Photographic Identifi cation
Documents
• birth certifi cate;
• citizenship certifi cate;
• pension card issued by Centrelink that
entitles fi nancial benefi ts.
How to open an accountYou can open an account in a variety of ways which are summarised in the table below. There
are some specifi c conditions for opening particular types of accounts set out below the table.1
Type of account Ban
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Call
13 2
221
2
Part
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atin
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sch
oo
ls
Mo
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ag
e
bro
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On
line
3
Min
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op
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bala
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TR
AN
SA
CT
Smart Access and Complete
Access4
✓ ✓ ✓ ✓ No minimum
Streamline Account5 ✓ ✓ ✓ ✓ No minimum
Pensioner Security Account –
Keycard/Cheque option✓ ✓ ✓ $2,000
SA
VE
AwardSaver Account6 ✓ ✓ ✓ $1 if regular
electronic
deposit
established,
otherwise $100
Youthsaver Account 7 ✓ ✓ ✓ ✓ No minimum
NetBank Saver Account 8 ✓ ✓ ✓ No minimum
PA
RK
/
INV
ES
T Cash Investment Account ✓ ✓ ✓ $10,000
Section 2: Opening and operating your
Transaction, Savings and Investment accounts
7 Youthsaver – You must be under 18 years of age to open and conduct a Youthsaver Account. If you are under 16 years
of age, a parent/guardian or other adult must sign the application form to open the account and provide appropriate
identifi cation for themselves and for you. Withdrawals are not allowed until acceptable identifi cation is provided.
Youthsaver Accounts cannot be opened in joint names or as a trustee of a private trust. The accounts cannot be used
for business purposes, or for the private or domestic use of a parent or guardian. Before you turn 18, we will contact
you to transfer your Youthsaver account to one of our other savings or transaction accounts. You may obtain a
Youthsaver application form by calling us on 13 2221, or from a school participating in Student Banking.
8 NetBank Saver – You must have and keep open a Smart Access or Complete Access or a Streamline Account in
your name with access to NetBank or Telephone Banking whilst your NetBank Saver Account remains open. If you
open a NetBank Saver Account in a single name, your Smart Access, Complete Access or Streamline Account may
be in a single or joint name (provided your name appears as one of the Smart Access, Complete Access or Streamline
Account holders). If you open a NetBank Saver Account in joint names, your Smart Access, Complete Access or
Streamline Account must also be in the same joint names.
1 We reserve the right to refuse any application to open an account. We must verify your identity.
2 You must be 16 years of age or older to open a Streamline Account over the phone.
3 For Pensioner Security, AwardSaver and Cash Investment Accounts, you must be 18 years or over to open an
account online.
4 You must be 18 years of age or older and an Australian permanent resident to open a Smart Access or Complete
Access account.
5 If you are under 16 years of age, a parent/guardian or other adult must give written consent for you to open the
account and to acknowledge that you have full authority to operate the account and any Youthsaver Account(s) in
your name, whether existing or opened in the future. Identifi cation must be provided for the parent/guardian or other
adult and the child at the time of account opening.
6 AwardSaver – If you establish an automatic electronic regular savings plan (for example by arranging a Direct Debit
request to deposit funds to the account) or arrange for your salary or other income to be paid directly to your account,
an opening deposit of only $1 is required. Otherwise, the minimum opening deposit is $100.
14 15
Secondary Identifi cation Documents (must
show your name and residential address)
• foreign driver’s licence;
• a recent notice issued by the Australian
Taxation Offi ce;
• an electricity, gas or council rates notice
showing details of any service provided
to you;
• if you are under 18, a notice issued by
your school principal within the preceding
3 months which records the period of
time you attended your school.1
Foreign language documentsIf any document is written in a language
other than English, we will require an English
translation, verifi ed by a translator acceptable
to the Bank.
Exceptional cases In exceptional cases where a person is
unable to meet our requirements, we may,
at our discretion, accept other forms of
identifi cation. In such cases, we will provide
you with details of our requirements.
If you are unsure as to identity documents
we require, please call us on 13 2221.
What if you do not verify your identity?If all signatories to an account have not had
their identity adequately verifi ed by us, we will
place a stop on the account. In some cases
we may close the account or withhold funds
in accordance with the law.
Why your signature is importantWe generally require that you instruct us in
person in relation to products and services
and we generally rely on your signature, PIN
or password to verify your instructions.
Where available, we are also able to accept
instructions by other means – for example,
Braille and various foreign languages. If you
would prefer to instruct us in any of these
ways, please make your request known to
a member of our staff.
Change of personal detailsWe rely on accurate information about your
personal details. You must notify us promptly
if you change these details, e.g. your
address, your name or your email address.
Your Tax File NumberYou are not required to provide us with your
Tax File Number (TFN) in relation to an
account. However, we are obliged by law to
deduct tax from interest earned where a TFN
or TFN exemption has not been quoted on
an account, and where interest is credited to
an account of a non-resident.
Tax and Social Security implicationsYou may have to pay income tax on any
interest you earn on your account.
Depending on your personal circumstances,
interest you receive may also affect your
social security entitlements. You should
discuss any taxation or social security issues
with an independent taxation or
fi nancial adviser.
Section 2: Opening and operating your
Transaction, Savings and Investment accounts
Trust accountsWe may allow you to open an account
(other than a Youthsaver Account) for use
when you act as trustee of a private trust.
Unless the account is designated as a trust
account, when you open an account in your
name(s), you confi rm that the funds deposited
are not in any way subject to a trust of any
kind or lodged in a trustee capacity.
For NetBank Saver only – NetBank Saver
accounts opened in trust must be in the
same name as the linked Smart Access,
Complete Access or Streamline Account
which must also be held in trust (trustee and
benefi ciary the same on both accounts).
Opening a joint accountThe accounts in this brochure (other than
Youthsaver) can be held in your name alone
or jointly with someone else. An account
conducted in more than one name is called
a joint account. This is often an effi cient and
convenient way to organise the banking for
more than one person. Before you open an
account with another person, such as your
spouse or another member of your family or
your partner, you should be aware of the
legal implications.
The Better Banking Book contains other
important information on managing joint
accounts. When there is more than one party
to an account, the application of age-based
fee exemptions (refer to pages 74 to 77 for
details) will be based on the age of the oldest
account holder.
For NetBank Saver only – Maximum of
two joint account holders.
Operating a joint accountIf you have a joint account with another
person or persons, it may be operated in
different ways to suit your requirements.
Unless otherwise agreed with us when the
account is opened:
• each of you may operate the account
independently of each other, including
agreeing with us to vary the account
Terms and Conditions or the type of
account to another referred to in these
Terms and Conditions;
• we may accept for the credit of the
account any cheque or negotiable
instrument payable to any one or more of
you (other than NetBank Saver Account);
• if one of you dies, the account is closed
and we pay the balance in the account
to the survivor(s);
• we may accept the authority of any
one of you to send account statements
electronically, by us making them
available on our NetBank service and
sending an email notifi cation (instead
of sending them by mail). Each of you
may instruct us not to send statements
electronically; and
• each of you may change your mailing
address or email address.
1 If a person under 18 years of age does not attend school or if a letter from the school principal cannot be made
available in a timely manner, we may consider alternative forms of identity documentation such as a Medicare Card,
Health Card or similar document which notes the person’s name.
16 17
We are not obliged to enquire into the
circumstances of any instructions you give in
relation to the operation of your joint account
and we are not liable for any loss or damage
you or anyone else suffers due to us acting
on those instructions in good faith, unless it
is proved we were negligent.
If you have a joint account with electronic
access, the account method of operation
must be ‘each of you may operate the
account independently of the other’ (as set
out above).
If you have a joint Smart Access or Complete
Access account with another person or
persons, the account method of operation
must be ‘each of you may operate the
account independently of the other’ (as set
out above).
When we can close an accountWe may close your account if it has a credit
balance by giving notice which is reasonable
in all the circumstances.
We may close your account without notice if
your account:
• has a nil balance; or
• is overdrawn
and has not been operated by you for a
period of 3 months or more. We may also
close your account without notice if your
account has a balance of less than $10.00
and has not been operated by you for a
period of 12 months or more. We will transfer
the balance to another active deposit
account in your name or pay you the balance
by bank cheque drawn in your favour. Please
also refer to Section 2 ‘We must verify
your identity’ and note that we may, in
accordance with the law, close your
account if you have not provided
adequate identifi cation.
If you do not make a deposit or withdrawal
on the account for 7 years, the Bank closes
the account without notice to you and
transfers the credit balance to an unclaimed
moneys fund where it will not earn interest
(balances over a prescribed amount go to
the Government’s unclaimed moneys fund).
You may apply for return of the transferred
balance at any time.
For Smart Access or Complete Access accounts only – If the account is closed,
your Debit MasterCard(s) will automatically
be cancelled.
For Pensioner Security accounts only
– We may close the account if you cease to
receive an eligible pension or allowance.
For Youthsaver accounts only – If your
account is being used for purposes other
than for the private and domestic use of the
child, we may close the account or refuse to
accept further deposits.
For NetBank Saver accounts only –
Your NetBank Saver Account must be closed
before you can close your Smart Access,
Complete Access or Streamline Account.
The Bank will transfer the credit balance of
your closed account to your nominated
Smart Access, Complete Access or
Streamline Account. If your NetBank Saver
Account balance remains at zero for 3
consecutive months, the account will
automatically close.
Breach of lawIf it appears to us that you may:
(a) be a proscribed person or entity under
the Charter of the United Nations Act
1945 (Cth);
(b) be in breach of the laws of any
jurisdiction relating to money laundering
or counter-terrorism;
(c) appear in a list of persons with
whom dealings are proscribed by the
government or a regulatory authority of
any jurisdiction; or
(d) act on behalf, or for the benefi t of, a
person listed in subclauses (a) to (c);
we may immediately:
(e) refuse to process any transaction
of yours;
(f) suspend the provision of a product or
service to you;
(g) freeze your account; or
(h) close your account.
We will be under no liability to you if we do
any or all of these things. Our rights under
this clause are in addition to all other rights
we may have.
Cheque facilityIf you are 18 years of age or over, you may
apply to the Bank for a cheque book to
operate your Smart Access or Complete
Access account, Streamline Account, Cash
Management Call Account, Cash Investment
Account or Pensioner Security Account
(Keycard/Cheque option).
You must only use the cheques supplied by
the Bank. Stamp duty (where applicable) is
charged to your account when a cheque
book is issued. The Bank may at any time
withdraw your cheque facility in the event of
any improper conduct of the account. The
Bank may at its discretion require new and
existing account holders to lodge a minimum
opening balance or have a minimum balance
before the cheque facility is provided. If you
have an overdraft facility and try to make any
withdrawal transaction which would cause
the agreed overdraft limit to be exceeded, or
you have no overdraft facility and try to make
any withdrawal transaction which would
cause the balance of the account to be
overdrawn, we are not required to honour
any cheque or allow any other withdrawal
transaction which would cause you to
overdraw your account as described above
(refer to pages 22 and 23 ‘Debit balances in
your account’ for details).
You must always ensure that you draw a
cheque in a way that does not facilitate fraud.
The Better Banking Book contains other
important information on managing cheques.
Section 2: Opening and operating your
Transaction, Savings and Investment accounts
18 19
Making deposits
Ways to make a deposit
You can deposit funds:
• through the Bank’s ATMs in Australia
if your account has ATM access (where
deposit facilities are available) – we do
not accept coins;
• at our branches1 and at selected
offi ces of Australia Post and
authorised agencies;
• by scheduled regular payments, e.g.
having your salary, pension or other
income paid to your account (direct
credit) or by periodical payment;
• at schools where the Bank has
Student Banking arrangements.
This applies only to Youthsaver Accounts
(schools participating in Student
Banking may receive commission
for processing deposits).
If you have a NetBank Saver Account:
• you can make deposits via electronic
transfer from an existing Commonwealth
Bank Smart Access, Complete Access or
Streamline Account in your name;
• you can arrange to have your salary or
any other regular payment made direct
to your account by direct credit or
periodical payment;
• you are not allowed at any time to make
deposits (cash or cheques) at any branch
of the Bank (except an opening deposit),
through the Bank’s automatic teller
machines or at agencies of the Bank.
If you try to make deposits this way, they
will not be credited to the account and
will be returned to you.
Altering or stopping regular payments to your account2
If you wish to alter or stop the payment, you
must do so in writing, but please remember
to sign the letter. We may cancel or stop the
regular payment arrangement on advice from
you or when payment arrangements no
longer comply with the terms of the authority
signed by you or if required by law. In some
cases, you may be able to alter the details of
a regular payment over the phone by
calling 13 2221.
Recording of deposits made at Australia Post and authorised agencies3
Deposits made by you at Australia Post
offi ces and authorised agencies may take up
to 3 days to be recorded in the Bank’s books
of account. We record the transaction as
having been made on the date of the deposit
at the agency.
However, you may not draw against an
agency deposit until the deposit is recorded.
The proceeds of any cheque included in a
deposit are not available until the cheque
is cleared.
Agency opening hoursWe do not regulate the hours in which
Australia Post offi ces and authorised
agencies conduct banking business.
You should check their banking business
hours with the Australia Post offi ce or
authorised agency.
Making a deposit using your passbookIf you have a passbook account, you must
present your passbook when making a
deposit unless you deposit by using
Electronic Banking. You agree that
confi rmation of transactions on your account
may be provided by us by means of you
providing the passbook at a branch4 of the
Bank for updating.
Financial Claims Scheme and Australian Government Guarantee Scheme for Large Deposits and Wholesale Funding
Financial Claims SchemeThe Financial Claims Scheme under the
Banking Act 1959 applies to these deposit
accounts. The Financial Claims Scheme is
free and automatically covers the total
aggregated balance of all your deposit
accounts* with the Bank up to and including
$1,000,000.
* Note: includes your separate equal share in any joint
deposit account with the Bank.
Australian Government Guarantee SchemeWhere the total aggregated balance of all
your deposit accounts with the Bank
exceeds $1,000,000 and you require the
benefi t of the Australian Government
Guarantee under the Australian Government
Guarantee Scheme for Large Deposits and
Wholesale Funding (the Scheme) for that
amount greater than $1,000,000, you must
request the Bank to apply to the Scheme
Administrator for the Australian Government
Guarantee nominating the account or
accounts you require the Australian
Government Guarantee to cover. We call this
your “opt-in”.
The Bank is required to pay any fees payable
in accordance with the Scheme Rules. If you
opt-in by requesting the Bank to make an
application to the Scheme Administrator for
the Australian Government Guarantee, you
agree to indemnify the Bank for all fees
payable by the Bank to the Scheme
Administrator under the Scheme.
The Guarantee Fee will be payable monthly
and charged at an annualised rate as
advised from time to time by the Australian
Government. The fee is currently 0.70% and
is charged on the aggregated average daily
credit balance of the accounts you nominate
to be covered for the month over the fee free
threshold of $1,000,000. This Guarantee Fee
will be debited monthly in arrears to an
account nominated by you.
For more information on the terms and
conditions of the Scheme please visit the
Treasury website guaranteescheme.gov.au
For details of how to opt-in please visit our
website at commbank.com.au, enquire
at your nearest branch of the Bank or
call 13 2221.
Section 2: Opening and operating your
Transaction, Savings and Investment accounts
1 Deposits to passbook accounts cannot be made at some branches opened after 1 August 2008. Please call 13 2221
to check availability.
2 Youthsaver Account – If you are under 16 years of age and wish to alter or stop a payment and you have not
obtained full access to your account, you will need to obtain the written consent of the parent/guardian or other adult
who signed the application to open the account. The Bank will only alter or stop the regular payment arrangement
provided you obtain such written consent.
3 For Youthsaver customers only, access to your account through Australia Post and authorised agencies is via
your Keycard.4 Deposits to passbook accounts cannot be made at some branches opened after 1 August 2008. Please call 13 2221
to check availability.
20 21
Making withdrawals, purchases and payments
TRANSACT SAVE PARK/INVEST
Method of withdrawal, purchase or payment1,2
Smart
Access
and
Complete
Access
Streamline
Account
Pensioner Security
Account
AwardSaver
Account
Youthsaver
Account6
NetBank
Saver
Account7
Savings
Investment
Account5,8
Cash
Management
Call Account8,9
Cash
Investment
Account
Passbook
Option5,8
Keycard/
Cheque
Option
Withdraw funds from an ATM in Australia3 ✓ ✓ ✓ ✓ ✓ ✓ ✓
Withdraw funds from an ATM overseas using the
MasterCard network3
✓
Withdraw funds from an ATM overseas using the
Maestro/Cirrus and Visa Plus networks3
✓ ✓ ✓ ✓ ✓ ✓
Pay for purchases (and withdraw cash at the
retailer’s discretion) at EFTPOS terminals3
✓ ✓✓
✓ ✓ ✓ ✓
Withdraw funds via our branches (and selected
post offi ces and other authorised agencies)4✓ ✓ ✓10 (with
Passbook)✓
✓ ✓ ✓10 (with
Passbook)
✓ ✓
Pay by cheque (cheque facility optional and only
available for persons 18 years or over)
✓ ✓ ✓ ✓✓
Transfer funds and pay bills using BPAY through
Telephone Banking and Internet banking3
✓ ✓ ✓ Telephone
Banking only
✓ ✓ ✓ NetBank
only
✓ Excluding
BPAY
✓ Telephone
Banking only
✓✓
Schedule regular payments from your account
by periodic payment or direct debit✓ ✓ ✓ Excluding
NetBank
✓ ✓ ✓ Direct debit
or credit only
✓ Excluding
NetBank
✓ ✓
Section 2: Opening and operating your
Transaction, Savings and Investment accounts
1 Proceeds of cheques – The proceeds of cheques and other payment instruments deposited or funds transferred by direct debit cannot normally be withdrawn until cleared. If we allow you to withdraw the proceeds before clearance occurs and the cheque, payment instrument or direct debit is dishonoured, that amount by which your account is overdrawn will be treated as an advance by us to you and you will owe us a debt of that amount (see pages 22 and 23 for further details).
2 Proceeds of NetBank transfers – For security reasons we may place a hold on funds transferred through NetBank to your account from an unlinked Commonwealth Bank account. The hold may apply until the next business day (or if the transfer occurs on a non-business day or after 11 pm (Sydney time) on a business day, until the second following business day) or longer if the Bank needs to investigate the transaction.
3 Daily limit on Electronic Banking withdrawals – Daily limits apply, refer to pages 43 (limit on transfers) and 50 (limit on cash withdrawals and EFTPOS purchases) for further details.
4 Cash withdrawals at a branch, Australia Post and authorised agencies – If you have a passbook account (Pensioner Security Account or Savings Investment Account), withdrawals can be made at a branch of the Bank provided your signature is recorded in your passbook. You must present your passbook when making a withdrawal, unless you withdraw by using Electronic Banking. For Youthsaver customers only, access to your account through Australia Post and authorised agencies is via your Keycard.
For passbook account holders, you may make withdrawals up to a maximum of $1,000 in any 7 day period at selected offi ces of Australia Post and at certain other authorised agencies of the Bank. Withdrawals made by you at Australia Post offi ces and authorised agencies may take up to 3 days to be recorded in the Bank’s books of account. We record the transaction as having been made on the date of the withdrawal at the agency. However, you may not draw against an agency deposit until the deposit is recorded. The proceeds of any cheque included in a deposit are not available until the cheque is cleared.
5 Passbook accounts – If you deposit a cheque or other payment instrument to a passbook account, no transfers or
BPAY payments (including transfers of available funds) using Electronic Banking will be permitted for 3 business days from the date of the deposit.
6 Youthsaver Account – Limited access for under 16s – You must obtain the consent of your parent or guardian who signed the application to open the account, to gain full access to your Youthsaver Account including access via Keycard, Telephone Banking or NetBank and to make withdrawals or arrange a direct debit or periodical payment authority. If access is not provided for under 16s, the parent/guardian must sign for each withdrawal.
On turning 16, you can request full access to your Youthsaver Account(s) without written consent of your parent or guardian. Parents/guardians should note that if you give consent for your child under 16 to gain full access to their Youthsaver Account or to open a Streamline account, you acknowledge that they also have full authority to operate any other Youthsaver Account in their name, whether existing or opened in the future. Access to NetBank may be limited for customers under 16 years of age. BPAY facilities are only available through NetBank. Please refer to pages6 to 9 for additional restrictions on your account.
7 NetBank Saver Account – You are not allowed at any time to make withdrawals at any branch of the Bank, through the Bank’s automatic teller machines or at agencies of the Bank. Withdrawals must be made by transferring funds to a linked Commonwealth Bank Smart Access, Complete Access or Streamline Account in your name using the Bank’s Internet banking service (NetBank) or Telephone Banking.
8 Existing account holders only – No longer available for sale.9 Includes the High Performance Cash Account (no longer available for sale).10 Withdrawals from passbook accounts cannot be made at some branches opened after 1 August 2008. Please call
13 2221 to check availability.
22 23
Cancelling or altering a direct debit authority or periodical payment1
You may give us a written instruction to
cancel a direct debit authority or periodical
payment authority. We will accept and
promptly process such an instruction and
any complaint from you that a direct debit
or periodical payment transaction was
unauthorised or irregular. We may ask that
you also contact the debit user. We may
cancel or stop any direct debit or periodical
payment authority when payment
arrangements no longer comply with the
terms of the account authority signed by you.
Overdraft facility (Smart Access, Complete Access or Streamline Account only)Provided you are 18 years or over, you may
apply to us for establishment of an overdraft
facility on your Smart Access, Complete
Access or Streamline Account. There is no
minimum or maximum limit for a secured
overdraft. Other Terms and Conditions apply
to the conduct of an overdraft on your Smart
Access, Complete Access or Streamline
Account and these will be provided to you for
your reference if we approve your application
and offer you an overdraft facility.
If you migrate from one type of account to
another (e.g. from a Streamline Account to
Smart Access), your overdraft will continue
to apply to your new account type.
Smart Access and Complete AccessATMs and EFTPOS terminals may ask you
to choose between the ‘credit’ or ‘savings’
option (see page 37 for information to help
you choose).
Choosing the ‘credit’ option does not provide
you with any credit in respect of the account.
Debit balances in your accountIf you make any withdrawal or other payment
(e.g. by cheque) or transact on your account
by any means which would cause a debit
(negative) balance in your account, this is
known as overdrawing your account. If you
have an overdraft facility and try to make any
withdrawal transaction which would cause
the agreed overdraft limit to be exceeded or
you have no overdraft facility and try to make
any withdrawal transaction which would
cause an overdrawing of your account, we
are not required to honour your cheque or
allow any withdrawal transaction which
would cause you to overdraw your account
or to exceed your agreed overdraft limit.
However, we will be entitled to charge a fee
as described below, depending upon what
we do in relation to the cheque or
withdrawal transaction.
If we do allow you to overdraw your account
or to exceed your agreed overdraft limit:
• the amount by which your account is
overdrawn will be treated as an advance
by us to you and you will owe us a debt
of that amount;
• you must repay that advance and any
interest charged within 62 days, unless
we make a different arrangement for
repayment with you (for Youthsaver
Accounts the advance must be repaid
without delay);
Section 2: Opening and operating your
Transaction, Savings and Investment accounts
1 Youthsaver Account – If you are under 16 years of age and wish to alter or stop the payment and if you have not
obtained full access to your account, you will need to obtain the written consent of the parent/guardian or other adult
who signed the application to open the account. The Bank will only cancel or stop the regular payment arrangement
provided you obtain such written consent.
• we apply any payments to your account
fi rst in repayment of that advance and
any interest charged;
• except for Youthsaver Accounts or
unless you are under 18 years old or
hold the account in trust for someone
who is under 18 years old, you must pay
us interest on that loan at the prevailing
rate for debit balances. The interest
will be calculated daily and charged
to your account:
– monthly on the fi rst business day of
each month and when the account is
closed for Smart Access or Complete
Access accounts, Streamline Account,
Cash Management Call Account and
Cash Investment Account;
– quarterly on the fi rst business day
in January, April, July and October
and when the account is closed
for Pensioner Security Account,
AwardSaver Account, NetBank
Saver Account and Savings
Investment Account.
We are entitled to charge an Overdrawing
Approval Fee (refer to page 68 for details of
this fee).
If we do not allow you to overdraw
your account or to exceed your agreed
overdraft limit, we are entitled to charge a
Dishonour Fee (refer to page 69 for details
of this fee) for processing the disallowed
withdrawal transaction.
Combining your accountsYou agree that the Bank may combine or
set-off the balance of this account with any
other on-demand account or with any loan
account for which the Bank holds security
that you have or may have in the future with
us. The Bank’s rights under this Clause do
not extend to any account which has a
facility which is regulated by the Uniform
Consumer Credit Code. In such cases, the
Bank may still exercise its banker’s right of
account combination.
The Better Banking Book contains more
information on the consequences of account
combination.
If the Bank elects to combine your accounts,
it will observe any applicable requirements of
the Code of Operation for Centrelink Direct
Credit Payments.
PassbooksIt is important that you tell us as soon as you
become aware that your passbook has been
lost or stolen. You may be liable for the
unauthorised transactions that occur on
your account if it can be shown that you
unreasonably delayed telling us of the loss
or theft.
Please check your passbook for
unauthorised transactions and report them
to the Bank as soon as possible. Refer to
page 83 for contact details.
24 25
What interest can you earn? If you have a credit balance in your account, you may be entitled to receive interest and bonus
interest, depending on the type of account. Information about the interest rates is in the
separate Interest Rates on Transaction, Savings and Investment Accounts brochure. Interest
rates are variable and may be changed by us at our discretion. To obtain a current version of
the Interest Rates on Transaction, Savings and Investment Accounts brochure, call 13 2221
or visit any of our branches or our web site.
Section 2: Opening and operating your
Transaction, Savings and Investment accounts
TRANSACT SAVE PARK/INVEST
How interest is calculated
Smart
Access
and
Complete
Access
Streamline
Account
Pensioner
Security
Account
AwardSaver
Account
Youthsaver
Account
NetBank
Saver
Account
Savings
Investment
Account
(existing
account
holders only)
Cash
Management
Call Account
(existing
account
holders only)1
Cash
Investment
Account
Interest is paid on a credit balance of $1 or more. ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Interest is paid on the full balance, provided the balance is $5,000 or more. ✓
Interest is calculated on the daily closing balance and credited on the fi rst
business day in March, June, September and December and when the
account is closed.
✓ ✓ ✓ ✓ ✓ ✓
Interest is calculated on the daily closing balance and credited on the fi rst
business day of each month and when the account is closed.✓ ✓ ✓
Tiered interest rates – receive the interest rate on your entire account
balance as your balance increases from one tier to the next.✓ ✓ (Refer to
table below)
✓ ✓ ✓ ✓ ✓
Bonus interest on credit balances of $1 or more if you make at least one
deposit and no withdrawals in a calendar month.✓ ✓
Note Please contact any branch of the Bank if you do not wish to have interest paid to your account and wish to make
other arrangements.
Pensioner Security Accounts and deeming thresholdsWith Pensioner Security Accounts, interest rates vary according to account balance tiers.
Except for the fi rst tier, we structure our tiers according to the Federal Government’s deeming
thresholds. The Government regularly adjusts deeming thresholds and if it does, we
automatically adjust our second and third tiers in line with its changes.
Tier 1 Tier 2 Tier 3
Less than $2,000 From $2,000 up to and including the
Federal Government’s deeming
threshold for single persons.
Amount above the Federal
Government’s deeming threshold
for single persons.
1 Also applies to the High Performance Cash Account (existing account holders only).
26 27
Your account statement
When we will send you an account statement
Account Frequency of statement (standard cycle)
Smart Access and Complete Access Every 3 months
Streamline Account1 Every 3 months
Pensioner Security Account (Keycard/Cheque option)2 Every 3 months
Pensioner Security Account (Passbook option)3,4 N/A
AwardSaver Account Every 6 months
Youthsaver Account Every 6 months
NetBank Saver Account Every 6 months
Savings Investment Account3, 4 N/A
Cash Management Call Account4,5 Every 3 months
Cash Investment Account Every 3 months
How we give you account statements and noticesWe provide statements and notices:
• By post to your home or nominated postal address, unless we agreed to provide statements
and notices electronically (for joint accounts, we will send one statement and notice addressed
to all account holders where they live at the same address, or otherwise to the nominated postal
address or addresses); or
• Electronically through our NetBank service. If you request, and we agree, we will stop posting
paper statements and notices to you and instead provide them through NetBank. When a
statement or notice is ready to view we tell you by sending an e-mail to your nominated e-mail
address. To receive statements and notices electronically an account holder must be registered to
use NetBank and tell us their e-mail address
How to fi nd out what is in your accountYou can fi nd out the balance in your account(s) or ask for a statement at any time by calling 13 2221.
For some accounts this information is available from ATMs. We may charge a fee for duplicate
statements and for additional/separate statements issued outside the standard cycle shown in the
table. The amount of this fee is detailed on page 70 in Section 4 of this brochure – ‘Fees and charges’.
Section 2: Opening and operating your
Transaction, Savings and Investment accounts
1 If the Streamline Account holder is under 18 years of age, we send a statement every 6 months rather than every 3
months.
2 Pensioner Security Accounts (Keycard/Cheque option) will be considered inactive when no customer-initiated
transactions are made for 6 consecutive complete calendar months and statements will be issued every 6 months.
When a customer-initiated transaction is made, the statements will revert back to the standard cycle.
3 As transactions are recorded in your passbook, we do not issue statements.
4 Existing account holders only – no longer available for sale.
5 Includes the High Performance Cash Account (existing account holders only – no longer available for sale).
You should retain all transaction records to enable you to verify entries. Check these entries for
accuracy as soon as you receive your statement. Report any unauthorised transactions to the
Bank as soon as possible. The date which appears on the transaction record may vary from
the date that appears on your statement of account. This is due to the fact that transactions
completed on non-business days and after ‘cut-off’ time on business days (typically mid to
late afternoon) may be held over to be processed on the next business day.
If you have a query regarding any entries on your statement, you should call 13 2221.
Changes to your Terms and ConditionsVarious features of your account may be changed from time to time, including the fees applicable,
interest rates and Terms and Conditions. The Bank reserves the right to vary the Terms and
Conditions in this brochure. We may also give you notice of the variation with an account
statement (as applicable). The following table indicates how we will advise you of any changes:
Change
Minimum number
of days’ notice Method of notice
Introduce a new fee or charge. 30 days In writing1 unless we
cannot locate you.
Increase an existing fee or charge. 30 days In writing1 or by
advertisement in the
national or local media.
Change the interest rate. No later than the
day of change
In writing1 or by
advertisement in the
national or local media.
Change the method by which interest is
calculated or the frequency with which interest
is debited or credited.
30 days In writing1 unless we
cannot locate you.
Change the balance ranges within which
interest rates apply to the account.
30 days In writing1 unless we
cannot locate you.
Change the minimum balance to which an
account keeping fee applies.
30 days In writing1 unless we
cannot locate you.
Change any other term or condition. No later than the
day of change
In writing1 or by
advertisement in the
national or local media.
Introduction or variation of any Government
tax or charge.
Not applicable In writing1 or by
advertisement in the
national or local media.2
1 If we agreed with you to provide statements and notices electronically, we may provide the notice electronically on
our NetBank service and send to your nominated email address an email notifi cation that the notice can be retrieved
from NetBank.
2 Unless the Government, Government agency or representative body has already publicised the introduction or variation.
28 29
Customer information and privacy
Collection and verifi cation of customer information
‘Customer information’ is information about a
customer. It includes personal information.
The law requires us to identify our
customers. We do this by collecting and
verifying information about you. We may also
collect and verify information about persons
who act on your behalf. The collection and
verifi cation of information helps to protect
against identity theft, money-laundering and
other illegal activities.
We use your customer information to manage
our relationship with you, provide you with the
products and services you request and also
to tell you about the products and services
offered by the Commonwealth Bank Group
(‘Group’), affi liated providers and external
providers for whom we act as agent. If you
have given us your electronic contact details,
we may provide marketing information to
you electronically.
The collection and verifi cation of customer
information may be carried out in different
ways and we will advise you of the most
acceptable methods of doing this. We may
disclose your customer information in
carrying out verifi cation – e.g. we may refer
to public records to verify information and
documentation, or we may verify with an
employer that the information you have given
us is accurate.
Depending on whether you are an individual
or an organisation, the information we collect
will vary. For instance, if you are an individual,
the type of information we may collect and
verify includes your full name, date of birth
and residential address. If you are commonly
known by two or more different names, you
must give us full details of your other name
or names.
If you are a company, we may collect and
verify information, including company
incorporation and registration details, as
well as details of the company’s offi cers
and its major shareholders.
If you are acting as a trustee, we may ask
you for, amongst other things, information on
the benefi ciaries of the trust and evidence of
the existence of the trust.
If you are a partnership, we may require
information including evidence of the fact
that the partnership exists, as well as the full
name of the partnership, the names of the
partners and any business name owned by
the partnership.
For other organisations, the kind of
information we collect and verify will depend
on the type of organisation you are.
In addition, during your relationship with us,
we may also ask for and collect further
information about you and about your
dealings with us.
You must provide us with accurate and
complete information. If you do not, you may
be in breach of the law and also we may not
be able to provide you with products and
services that best suit your needs.
Protecting customer informationWe comply with the National Privacy
Principles as incorporated into the Privacy
Act 1988 (Cth).
Section 2: Opening and operating your
Transaction, Savings and Investment accounts
We disclose customer information to other
members of the Group (including overseas
members), so that the Group may have an
integrated view of its customers and to
facilitate the integrated treatment of its
customers. It also enables other members of
the Group to provide you with information on
their products and services.
Other disclosuresAt common law, banks are permitted to
disclose customer information in the
following circumstances:
(a) where disclosure is compelled by law; or
(b) where there is a duty to the public to
disclose; or
(c) where our interests require disclosure; or
(d) where disclosure is made with your
express or implied consent.
So that we can manage our relationships,
customer information may be disclosed to:
• brokers and agents who refer your
business to us;
• any person acting on your behalf,
including your fi nancial adviser,
solicitor, settlement agent, accountant,
executor, administrator, trustee,
guardian or attorney;
• fi nancial institutions who request
information from us if you seek credit
from them;
• if you have borrowed from the Bank
to purchase property: valuers and
insurers (so that the Bank can obtain
a valuation of your property, and confi rm
that it is insured);
• if you have insurance: medical
practitioners (to verify or clarify, if
necessary, any health information you
may provide), claims investigators
and reinsurers (so that any claim you
make can be assessed and managed),
insurance reference agencies (where the
Bank is considering whether to accept a
proposal of insurance from you and, if so,
on what terms); and
• organisations to whom we may outsource
certain functions.
In all circumstances where our contractors,
agents and outsourced service providers
become aware of customer information,
confi dentiality arrangements apply. Customer
information may only be used by our agents,
contractors and outsourced service providers
for our purposes.
We may be required to disclose customer
information by law, e.g. under Court Orders
or Statutory Notices pursuant to taxation or
social security laws or under laws relating
to sanctions, anti-money laundering or
counter-terrorism fi nancing.
We may send customer information
overseas if:
• that is necessary to complete a
transaction; or
• we outsource certain functions overseas.
We may also be permitted, as distinct from
required, to disclose information in other
circumstances. For more information, please
refer to our Privacy Policy.
30 31
Section 2: Opening and operating your
Transaction, Savings and Investment accounts
Access to your personal informationThe law allows you (subject to permitted
exceptions) to access your personal
information. You can do this by contacting:
Customer Relations
Commonwealth Bank
Reply Paid 41
Sydney NSW 2001
We may charge you for providing access.
Further informationFor further information on our privacy and
information handling practices, please refer
to the Group’s Privacy Policy, which is
available at commbank.com.au or upon
request from any branch of the Bank.
What if you have a complaint?We aim to provide excellent customer
service. If you think we have failed, you
should let us know promptly so that we
can try and put things right. Also, by telling
us where you think we have failed, we will
be able to provide you a better service in
the future. To assist you, we offer free
internal and external avenues to deal with
your concerns.
What you should do if you want to make a complaint or dispute our decisionPrepare your complaint
Is the problem about general banking or
Electronic Banking? Get all your supporting
documents ready. Decide what you want
us to do.
Make your complaint
Let us know by lodging your complaint at
either a branch (preferably where you have
your account) or by calling 13 2221
(24 hours a day, 7 days a week). Our staff will
fully review the situation and, if possible, try
to resolve it straight away.
Not happy with the outcome?Please contact our Customer Relations Team
if your complaint has not been resolved to
your satisfaction (refer to page 84 for
contact details). We will provide contact
details of the offi cer dealing with your
complaint. We aim to resolve the matter
within about 4 days. However, some
complex matters might take longer. We
will keep you informed of our progress.
For Electronic Banking, our Customer
Relations Team will provide you with a
complaints form, which you should complete
and return to us.
We will acknowledge your complaint,
investigate and report back to you within
3 weeks. We may ask for more time, but
we will keep you informed of the reasons
for the delay. Unless there are exceptional
circumstances, in which case we will write
to let you know, we will complete our
investigation within 45 days of receipt of
the complaint.
If we are unable to resolve a complaint within
45 days, we will inform you of the reasons for
the delay, and provide you with monthly
updates on the progress with the complaint
and specify a date when a decision can be
reasonably expected, unless we are waiting
for a response from you and you have been
advised that we require the response.
BPAY
• If we conclude that your account has
been incorrectly debited or credited,
we will, where appropriate, adjust your
account (including any interest and
charges) and let you know in writing of
the amount with which your account has
been debited or credited.
• If we fi nd that your account has been
correctly debited or credited or, in the
case of an unauthorised transaction, that
you are liable for the loss or part of the
loss, we will give you copies of any
document and/or other evidence on
which we based our fi nding.
If any BPAY payment was made as a result of
a mistake by you and, after 20 business days
we are unable to recover the payment from
the Biller or any other person who received it,
you must pay us that amount. You should
then pursue the matter with the Biller or the
person receiving the payment.
We are not liable if any retailer refuses to
accept a card, PIN, password or other code.
If you wish to dispute our decision, you may contact the OmbudsmanIf you are not satisfi ed with the decision of
our Customer Relations Department or if
more than 90 days have elapsed since you
contacted Customer Relations, you may
contact the Financial Ombudsman Service.
The Financial Ombudsman Service is an
impartial, independent and free alternative
dispute resolution scheme for disputants.
Please refer to page 84 for contact details.
No claim to the Ombudsman is possible if:
• the matter involves an amount of more
than $280,000; or
• the matter is a commercial decision by
the Bank, such as whether a loan is
approved; or
• the matter is about the Bank’s general
policy or practice, such as the level of
interest rates or fees.
Electronic Banking Only – On completion of our investigation, we will write to you telling you of the outcome of the
investigation, our reasons for the outcome, including the provisions of the Terms and Conditions that we considered
during our investigations. If you are not satisfi ed with our decision, you may ask us to have our senior management
review the matter. If we fail to make the proper allocation of liability or we fail to keep to the complaint investigation and
resolution procedures set out in this brochure or we fail to communicate the reasons for our decisions and our failure
harms the outcome of your complaint or results in unreasonable delay in its resolution, we will accept liability for the full
amount of the transaction which is the subject of your complaint.
32 33
Section 3: Card and electronic access to your account
This section, in conjunction with Section 2 of this brochure, forms the Terms and Conditions of
the contract between you and us if you decide to open an EFT account. These Terms and
Conditions become binding once we give you (or any other user) and you (or that other user)
accept the access method. As from that time, we and you undertake to keep to the Terms
and Conditions.
Part A: Overview of e-banking
What is Electronic Banking?
We explain the meaning of the term Electronic Banking
(e-banking) and what conditions apply when you make
transactions through electronic equipment.
Page 33
Ways to access your account
Find out more about the e-banking services available
to you.
Page 35
Part B: Special conditions relating to Debit MasterCard (for Smart Access and Complete Access accounts only)
Choosing between the ‘credit’ and ‘savings’ option
We explain when you can choose the ‘credit’ or the
‘savings’ option to access your funds.
Page 37
Transactions on your Smart Access or Complete Access account
Find out more about authorisations, recurring
transactions and refunds.
Page 37
How to tell us if you think there is a mistake or wish to claim a chargeback
What you must do to claim a chargeback and when
the right to claim is available.
Page 38
Secure chip technology Find out more about the secure chip technology
on your Debit MasterCard.
Page 39
PayPass Tap & Go Find out more about PayPass Tap & Go. Page 40
Part C: Special conditions relating to Internet Banking and Phone Banking
Special conditions for using NetBank and VoIP
Find out more about using NetBank and VoIP,
including passwords.
Page 40
Making e-banking transactions
Why it is important to enter correct information. We
also tell you about scheduling payments and transfers,
when we process e-banking transactions and what
happens if electronic equipment does not work.
Page 42
Conditions of use for BPAY Terms and conditions that apply when you use BPAY
to pay your bills.
Page 45
What you agree to when using BPAY View
Terms and conditions that apply when you use
NetBank to access bills using our BPAY View facility.
Page 46
Part D: General conditions
Cards, PINs, passwords and Devices
Find out more about account access methods. Page 49
Electronic communication Find out how you can elect to receive notices and
account statements electronically if you are a NetBank
user and tell us your email address.
Page 51
Safeguarding against unauthorised access to your account
What you must do to protect your account. Find out
more about safeguarding cards, PINs and passwords.
Page 52
Liability for transactions We explain when you are liable for electronic
transactions on your account and your liability in the
event of unauthorised transactions.
Page 55
Changes to Terms and Conditions for card and electronic access
When we tell you about any changes we may make to
your Terms and Conditions in this Section 3 and how
we keep you informed.
Page 59
For the meanings of key words included in this section, refer to ‘Meanings of words’ on pages 80 to 82.
1 Regular system upgrades may limit access to your accounts through some services.
Part A: Overview of e-banking What is Electronic Banking?Card and electronic access (e-banking)
provides you with a range of banking services
that utilise a card or electronic equipment
and include the following:
• Debit MasterCard;
• Keycard (debit card);
• NetBank (Internet banking);
• Telephone Banking;
• ATM;
• EFTPOS terminals;
• BPAY and BPAY View;
• Maestro/Cirrus, MasterCard and Visa
Plus networks;
• AFT (Automated Funds Transfer); and
• Deal Direct.
E-banking offers the convenience
of conducting most of your banking
transactions at a time that suits you. You can
access funds and transfer funds between
accounts, pay bills and make purchases
24 hours a day, 7 days a week.1
We rely on the operations of our computer
and telecommunication systems and those
of our partners. Consequently, disruptions
to these operations may cause e-banking
services to be unavailable from time to time.
34 35
Section 3: Card and electronic
access to your account
Using electronic equipment When you make a transaction with electronic
equipment using a card, PIN or password,
you authorise us to act on the instructions
entered into that electronic equipment. The
protection provided under these Terms and
Conditions extends to transactions made
with cards, PINs and passwords in electronic
equipment that is not owned by us.
Please note that any credit aspects of your
EFT account or EFT transaction are
governed by the Terms and Conditions
applicable to your credit contract. Credit
card use is governed by the Bank’s Credit
Card Conditions of Use.
EFT transactions• are governed by the Terms and
Conditions in this section and by the
Terms and Conditions of the accounts,
products and/or services being used;
this Section 3 refl ects the Electronic
Funds Transfer Code of Conduct
(EFT Code) which we have adopted;
we warrant that we will comply with
the EFT Code; the EFT Code is not
applicable to purchase transactions using
your Debit MasterCard where you sign to
authorise the transaction (but chargeback
protection may be available in that
situation see chargeback information
on page 38);
• may be directed to any one of the
accounts that is linked to your card, PIN
or password if it is not possible to direct
them in accordance with the instructions
you give the electronic equipment;
• may be limited to specifi c amounts set
by us, e.g. there are maximum and
minimum daily withdrawal amounts that
may vary; and
• may be completed through the channel
chosen by us if it is possible to effect a
requested transaction using more than
one payment or transfer channel.
Ways to access your account To fi nd out more about e-banking or to get help with using electronic equipment, NetBank
or Telephone Banking, please refer to pages 83 to 84 for contact details.
Debit MasterCard
purchases
Use your Debit MasterCard to pay for purchases wherever Debit MasterCard
is accepted worldwide (including by mail order, telephone or online).
Debit MasterCard,
Keycard and linked
credit card access
via ATMs
Use your Debit MasterCard, Keycard or linked credit card to conduct
banking transactions at a wide range of ATMs in Australia, New Zealand,
Indonesia and Vietnam.
EFTPOS Use your Debit MasterCard or Keycard to pay for purchases or withdraw
cash at the same time (at the retailer’s discretion).
Maestro/Cirrus,
MasterCard and
Visa Plus
Maestro is an international EFTPOS system. Cirrus and Visa Plus are
international ATM networks. Use your Commonwealth Bank Debit
MasterCard or Keycard to purchase goods and services, withdraw cash and
obtain balances. If you are using your Keycard, look for the Maestro, Cirrus
or Visa Plus logo and if you are using your Debit MasterCard, look for the
MasterCard logo.
Telephone Banking Use a touch-tone telephone or VoIP to pay bills, obtain information on your
accounts, transfer funds to linked accounts, activate your Debit MasterCard,
Keycard or credit card and change your password.
NetBank NetBank is a quick, cost-effi cient, simple and secure way to do your
banking. With NetBank you can conduct a wide range of online transactions.
For example, you can activate your credit card, Debit MasterCard or Keycard
or view your up-to-date account balances and transaction details. NetBank
also lets you pay your bills using BPAY.
It’s easy to transfer funds between your own NetBank linked transaction
accounts (deposits only for home loans, investment home loans and personal
loan transfers) or to other people’s Commonwealth Bank accounts and selected
accounts at other Australian fi nancial institutions (you must key in the correct
BSB number and account number – the recipient account name will not be
used or checked by us in making your payment). You can make International
Money Transfers to people overseas (minimum transaction amounts apply).
You can retrieve your NetBank client number and unlock your token or sms
online without having to call the NetBank Help Desk. You can even redraw
funds from your Home Loan (conditions apply) and view and redeem your
Commonwealth Awards points.
You can make an appointment with a fi nancial planner, get an on the spot
decision for a Personal Loan (conditions apply), renew a term deposit and
switch to a Debit MasterCard account.
36 37
NetBank for your
mobile phone
Access NetBank with a version of NetBank specially tailored for your mobile
phone. You can:
• view your up-to-date account balances; and
• view your most recent transactions for your linked statement accounts,
including your Home Loans/Investment Home Loans, Mortgage Interest
Saver Accounts (MISA) and credit cards.
In future, you will also be able to:
• redraw funds from your Home Loan/Investment Home Loan or Variable
Rate Personal Loan (conditions apply);1
• transfer funds between any NetBank linked accounts. These include
transaction and savings accounts, credit card accounts, Home Loans/
Investment Home Loans, Mortgage Interest Saver Accounts (MISA) and
Personal Loans;1
• transfer money to other peoples’ accounts at the Commonwealth Bank or
to selected accounts at other Australian fi nancial institutions recorded in
your NetBank account address book (you must ensure that the correct
BSB number and account number are used – the account name of the
recipient does not form part of your payment instructions and will not be
used or checked by us in making your payment);
• pay your bills to Billers recorded in your NetBank Biller address book
using BPAY.1
BPAY and BPAY View Most bills can be paid using BPAY over the telephone or with NetBank. With
BPAY View you can also receive some bills electronically instead of in the mail
and then view and pay them using NetBank.
Automated funds
transfers
Schedule automatic payments from your designated accounts (not available
for NetBank Saver).
Section 3: Card and electronic
access to your account
What happens when you choose the ‘credit’ optionYour Debit MasterCard can be used for purchases wherever Debit MasterCard is accepted.
To use a Debit MasterCard in this way at an EFTPOS terminal, you must choose the ‘credit’
option. You will then be required to either enter your PIN on the keypad or sign a voucher to
complete the transaction (except if you use PayPass and the transaction is $35.00 or less
– see PayPass information on page 40). Choosing the ‘credit’ option may allow you to
exercise MasterCard chargeback rights (see chargeback information on page 38). The ‘credit’
option also applies when you use your Debit MasterCard to make purchases by mail order,
telephone order or over the Internet.
The remainder of this Part B applies to Debit MasterCards where the ‘credit’ option is used. It does not apply where you use your Debit MasterCard in ATMs or EFTPOS terminals using the ‘savings’ option.
Asking us to authorise a transactionSome merchants, for example hotels and car rental agencies, may request confi rmation that
your Smart Access or Complete Access account has suffi cient available balance to meet the
estimated cost of goods and services they will supply. We treat the request as a request for
authorisation.
We may choose not to authorise a particular transaction.
Part B: Special conditions relating to Debit MasterCard(for Smart Access and Complete Access accounts only) Choosing between the ‘credit’ and the ‘savings’ optionsWhen you use your Debit MasterCard at ATMs or EFTPOS terminals, you may be asked to
choose between the ‘credit’ and the ‘savings’ options. This table helps you to choose the
right option.
Where ‘credit’ transactions allowed ‘savings’ transactions allowed
ATM ✓ ✓
Pay for purchases (and withdraw
cash at retailer’s discretion) in
Australia and overseas
✓ ✓
1 These NetBank features are expected to be available via your mobile phone in 2009. Customers under the age of 16
require written consent from their parent or guardian to obtain access to these e-banking channels for Youthsaver
Account. Telephone Banking and NetBank are the only ways you can access your NetBank Saver Account.
Ways to access your account (cont.)
38 39
Section 3: Card and electronic
access to your account
In some circumstances, card scheme rules
allow us to charge a transaction back to
the merchant’s fi nancial institution. Usually
we can only do this if you tried to obtain
a refund from the merchant fi rst and
were unsuccessful.
We will claim a chargeback right (if the right
is available) if:
• you ask us to do so; and
• you provide us with the information and
material we require to support the
chargeback within 30 days after the date
of the statement on which the transaction
is recorded. If you tell us after this time,
and we cannot charge back the
transaction, you will continue to be liable
for that authorised transaction.
Otherwise, any chargeback right we have
under MasterCard’s scheme rules may
be lost.
We will use our best efforts to charge back a
disputed transaction for the most appropriate
reason. This does not mean that the
disputed transaction will necessarily be
charged back. The merchant’s fi nancial
institution must fi rst accept the claim in order
for your claim to be successful. If the
merchant’s fi nancial institution rejects a
chargeback, we will not accept that rejection
unless we are satisfi ed that the rejection is
reasonable and is consistent with
MasterCard scheme rules.
The 30 days timeframe for disputing a
transaction may not apply to reporting
unauthorised transactions where the
EFT Code applies (e.g. to transactions
involving use of your card and PIN or
card and password).
If we conclude as a result of our
investigations that your Smart Access or
Complete Access account has been
incorrectly debited or credited, we will adjust
your account (including any interest and
charges) and advise you of the amount with
which your account has been debited or
credited. If we conclude that your Smart
Access or Complete Access account has not
been incorrectly debited or credited, or in the
case of unauthorised transactions, that you
are liable for the loss, or part of the loss, we
will give you copies of any documents and
other evidence upon which we base
our fi ndings.
Use of your Debit MasterCardYou may only use your Debit MasterCard for
lawful purposes. We may use blocking
strategies to prevent access to certain
websites or merchants which we or
MasterCard consider to be questionable
or high risk sites.
Secure chip technologyYour Debit MasterCard comes with secure
chip technology which offers you greater
security on your card transactions. The
embedded chip enhances the security of the
card by making it more diffi cult to fraudulently
copy the details of your card. The chip does
not hold any personal information about you
or any other cardholders, just the advanced
security software that protects you from
fraudulent transactions. The Debit
MasterCard also has a magnetic stripe
to ensure you are still able to transact
anywhere you go.
If we authorise a transaction, the available
balance on your Smart Access or Complete
Access account will be reduced by
the estimated cost of the goods and services
for up to 5 business days if the transaction:
• is not completed; or
• is completed but the actual amount is
different from the authorisation. For
example, a hotel might get authorisation
for the cost of one night’s
accommodation when you check in, but
the amount of the bill later processed to
your Debit MasterCard might be different
to that authorisation.
This means that, even though the account
balance on your Smart Access or Complete
Access account is a certain amount, you
may fi nd that you have a reduced amount, or
no available balance on your Smart Access
or Complete Access account.
When the goods and services have been
supplied, the merchant may request a
subsequent authorisation for the actual
costs. This may have the effect of reducing
the available balance on your Smart Access
or Complete Access account by the sum
of two authorisation amounts. You should
ensure that the merchant cancels the
original authorisation.
If we gave an authorisation for a purchase
or payment, the account balance shown
on your Smart Access or Complete Access
account may be greater than the available
balance in the Smart Access or Complete
Access account. Please consider this
whenever you obtain a statement or a mini
transaction history or a balance of your
Smart Access or Complete Access account.
Recurring transactionsYou or an additional cardholder may
authorise a merchant to charge amounts to
your Smart Access or Complete Access
account over time.
To cancel the authority, we recommend you
notify the merchant in writing at least 5
business days before the next transaction is
due to be processed. Until you notify the
merchant, we are required to process
transactions from the merchant. If the
merchant does not comply with your request
to cancel the authority, you can dispute the
charges (see chargeback information below).
RefundsA merchant must issue a valid credit voucher
to make a refund to you. We can only credit
your Smart Access or Complete Access
account with the refund when we receive the
voucher from the merchant’s bank.
How to tell us if you wish to claim a chargeback (applies only where ‘credit’ option is used) You should keep all vouchers and transaction
records you receive from merchants and
check the details and entries on each
statement of your Smart Access or Complete
Access account for accuracy as soon as you
receive it (and if you have access to
NetBank, you can check the details and
entries from time to time using NetBank).
The date appearing on your transaction
record may not be the transaction date
shown on your statement because
transactions completed on non-business
days or after 3 pm on business days may be
processed on the next business day.
40 41
Section 3: Card and electronic
access to your account
NetCode Tokens remain the property of the
Bank and must be returned to the Bank on
request. One active NetCode Token is issued
per Client Number and cannot be used in
conjunction with another person’s Client
Number. The Bank reserves the right to
charge for additional and replacement
NetCode Tokens.
If you are selected by the Bank for Two
Factor Authentication, or you choose to
participate in Two Factor Authentication,
using a NetCode Token, you must register
the NetCode Token with us within 30 days
from the date we send it to you.
If you are selected by the Bank for Two
Factor Authentication, or you choose to
participate in Two Factor Authentication
using NetCode SMS, you must ensure
that your current mobile telephone
number is registered in your ‘Profi le and
Preferences’ section in NetBank.
Special conditions for using NetBank on your mobile phoneThe version of NetBank specially tailored for
your mobile phone is designed for phones
linked to the network of an Australian
telecommunications provider. It may not be
available to some customers who have an
overseas telecommunications provider.
You must be registered for Two Factor
Authentication using NetCode SMS or a
NetCode Token to access NetBank on your
mobile phone. If you are registered for Two
Factor Authentication using a NetCode
Token, you will be required to generate and
enter your current NetCode when you log in.
If you have an exemption from Two Factor
Authentication for any period of time, you
will not be able to access NetBank from
your mobile phone for the duration of
that exemption.
You are responsible for any charges imposed
by your telecommunications provider for
connecting to NetBank on your mobile
phone, including call costs and data costs
associated with browsing the Internet. You
can continue to use NetBank on your mobile
phone overseas if you have roaming access
to the Internet on your phone. Your
telecommunications provider’s charges may
be higher than those for using NetBank on
your mobile phone in Australia if you access
it while overseas.
If your Client Number is suspended by the
Bank for any reason (for example, because
an incorrect Password was entered), you will
be unable to access NetBank via a computer
or a mobile phone until it is reactivated.
Special risks relating to NetBankWhile NetBank allows you to transact simply
using your computer and codes, because of
that simplicity, it also poses special risks.
• If someone else has your codes, they
can transact on your account as if they
were you. You may be liable for such
transactions (refer to page 55 for details).
• You should take special care to keep your
codes secret and not to disclose them
to any third party including family, friends
and institutions.
• You should ignore any emails that appear
to come from us that require you to input
your codes. These emails may come
from third parties seeking to use the
information to access your accounts.
You can use your chip card anywhere Debit
MasterCard is accepted around the world,
including ATMs and EFTPOS terminals.
PayPass Tap & GoPayPass Tap & Go gives you the option
of making purchases of $35.00 or less at
participating merchants without having to
provide a signature or PIN. You just ‘tap’ your
Debit MasterCard on the PayPass reader,
wait for the transaction to be confi rmed and
‘go’. There is no need to sign or enter a
PIN for amounts of $35.00 or less.
PayPass also uses the embedded chip and
secure encryption technology to ensure that
your transactions are protected.
You can still choose to swipe your card
and use a signature or a PIN to accept
the transaction.
Part C: Special conditions relating to Internet Banking and Phone Banking Using VoIPIf you use VoIP, we urge you to take steps to
adequately secure your computer. The
systems used by your VoIP provider and/or
telephone calls made using your VoIP service
may not be secure. We strongly recommend
you use up-to-date anti-virus, fi rewall and
anti-spyware software before conducting any
banking using VoIP.
You should also contact your VoIP service
provider to ensure that you are satisfi ed with
your service provider’s:
(a) security measures;
(b) data protection standards; and
(c) personal information handling policies.
You should also note that your service
provider may route communications offshore.
If so, these communications may not be
secure nor may they be regulated by
Australian law.
Special conditions for using NetBankFor the purpose of accessing and using
the NetBank service, and using the relevant
access method, we grant to you a
non-exclusive, non-transferable personal
licence in relation to the software, including
any fi les, images, tables and data incorporated
in or generated by the software, and data
accompanying the software (collectively,
the ‘Software’) necessary for the purposes
of your use of the NetBank service. We do
not transfer title to nor grant any interest in
the Software to you.
When you register for NetBank, the Bank
may automatically select you for Two Factor
Authentication using NetCode SMS or a
NetCode Token.
For some transactions and NetBank functions
you may, in addition to entering your
password, be required to correctly answer
your Personalised Identifi cation Questions.
If you are registered for Two Factor
Authentication using a NetCode Token,
you will be required to generate and enter
your current NetCode at the time of login.
If you are registered for Two Factor
Authentication using NetCode SMS,
you will be required to enter your current
NetCode for some transactions and
NetBank functions.
42 43
1 Refer to page 45 for more information regarding BPAY payments.
2 If you do not know the recipient, or are unable to contact the recipient, you should contact the Bank and talk to a
customer service offi cer. We will attempt to recover the payment or transfer on your behalf; however, recoveries are
performed on a best endeavours basis (you cannot make any claim upon us).
Section 3: Card and electronic
access to your account
3 Not available through Telephone Banking.
4 These are the default transaction limits that apply to customers who register for NetBank from the date of these Terms
and Conditions. If you wish to fi nd out how your limit may be increased, please contact the Bank on 13 2221 (24 hours
a day, 7 days a week). You can also check your current limits and reduce your daily limit for transfers to third party
(non-linked) accounts and BPAY online. Simply login to NetBank, go to the ‘Security’ tab, and select ‘Payment limits’.
Daily limits for transfers through e-bankingIf you transfer funds through Telephone
Banking or NetBank, the maximum amount
that can be transferred per customer per
day is:
• $99,999,999.99 to or from a linked
statement account;
• $99,999.99 (or up to the available card limit)
to or from a linked credit card account;
• $25,000 (or up to the maximum balance)
to your Commonwealth Bank Traveller’s
Cash card.3
The maximum amount that can be
transferred per customer per day in the
following ways using NetBank is:
• $1,000 when transferring to a non-linked
account (for example, another person’s
account or an account at another
fi nancial institution).4
• $5,000 when transferring by International
Money Transfer using NetBank. You
need to activate the International Money
Transfer service in NetBank by contacting
the Bank on 13 2221 (24 hours a day,
7 days a week) before this limit applies.4
• $20,000 when making payments through
BPAY using NetBank.4
The daily limits applying to transfers to
non-linked accounts, International Money
Transfers and BPAY using NetBank operate
independently of each other. If you request a
higher daily limit (or ask the Bank to activate
the International Money Transfer service in
NetBank) your liability for unauthorised
transactions may increase. Minimum
transaction amounts also apply. Please
phone the NetBank Help Desk on 13 2221
(24 hours a day, 7 days a week) for details.
If you are selected by the Bank for Two
Factor Authentication, or you choose to
participate in Two Factor Authentication, but:
• you fail to participate in Two Factor
Authentication by registering your
NetCode Token with us within 30 days
from the date we send it to you; or
• you subsequently advise us that you
do not wish to participate in Two Factor
Authentication;
unless the Bank advises you otherwise, your
access to transfers to non-linked accounts,
BPAY payments and International Money
Transfers (if applicable) using NetBank will be
removed by the Bank.
If you deposit a cheque or other payment
instrument to a passbook account, no
transfers or BPAY payments (including
transfers or payments of available funds)
using Electronic Banking will be permitted for
3 business days from the date of the deposit.
Transfers to non-linked accounts and
transfers sent by International Money Transfer
are not permitted from passbook accounts.
Merchants, BPAY Billers and other fi nancial
institutions may impose other restrictions
on transfers.
• You should also be careful about using services which offer to interface with NetBank
on your behalf. You may be led to believe that you are inputting your codes in a
NetBank session, while in fact you are disclosing your codes to a third party hosting
a hoax website.
We continually look at ways to minimise any unauthorised transactions on your account.
We may use various techniques from time to time, including contacting you after an unusual
transaction or series of transactions to confi rm that you did in fact authorise the transaction(s).
Making e-banking transactions
Enter the correct information
When you or any other user makes a transaction with electronic equipment, it is your
responsibility to tell us the correct amount you wish to pay or transfer, and the correct account
to which you wish to have the payment or transfer credited. The account name of the recipient
does not form part of your payment instructions and will not be used or checked by us in
making your payment.
If you tell us to make a payment or transfer and after we have implemented your instructions
you discover that:
The amount you told us to pay
or transfer was less than the
required amount.
The amount you told us to pay
or transfer was greater than the
required amount.
The account you told us to
make a payment or transfer
to was incorrect.
You can make another
payment or transfer to
the recipient to make up
the difference.
You must contact the recipient1
to obtain a refund (you cannot
make any claim upon us).
You should attempt to contact
the recipient to obtain a refund.2
Scheduling future payments and transfersWith NetBank you can ‘schedule’ a payment or transfer by nominating a future date on
which such a transaction is to be made (not available for Pensioner Security Account – Passbook
option, Passbook Savings Account, NetBank Saver Account and Savings Investment Account).
You can cancel a scheduled transaction by telling us to do so before the payment or transfer
cut-off time on the nominated day (refer to page 44 for details). Otherwise, we will process the
payment or transfer as originally instructed by you. Cancellations must be made via NetBank.
44 45
When are e-banking transactions processed1?
Transaction type
When the transaction was made or
scheduled to be made
When it may be processed
Electronic payment
and transfer
transactions
Before 3 pm on a business day. On the same day.
After 3 pm or on a non-business day. On the next business day.
Scheduled
transactions
Scheduled to occur on a business day. On the nominated day.
Scheduled to occur on a non-business day. On the next business day.
What happens if the electronic equipment does not work properly?We take all reasonable steps to ensure that our electronic equipment functions properly during
its usual operating hours. However, failures may occur and this has an impact on liability.
If… Then…
The equipment accepts a user’s instructions We are liable to you for any loss caused by a
transaction that is not completed in accordance
with those instructions.
The equipment does not accept a user’s
instructions or a user’s card and/or PIN fails to
activate the equipment
We are not liable to you.
A user is aware at the time of use that the
equipment is not functioning properly
Our liability to you is limited to correcting any
wrong entry in your account. We will refund any
charges and fees debited to your account as a
result of the wrong entry.
You do not lose any protection that we give you under these Terms and Conditions when you
(or any other user) use your card, PIN or password in electronic equipment that is not owned
by us.
Section 3: Card and electronic
access to your account
Conditions of use for BPAY (not available with Deal Direct)BPAY (Bill Payment) lets you pay most bills
over the telephone (Telephone Banking) or
with NetBank. To register to use BPAY, you
must fi rst establish a password for Telephone
Banking or register with NetBank. See pages
83 to 84 for details. Please note that
Youthsaver customers cannot use BPAY over
the phone and NetBank Saver customers
cannot use BPAY.
What to give us when you make a BPAY transactionYou will need to provide the following
accurate information so that we can process
a BPAY payment.
• Biller code (printed on your bill near the
BPAY logo)
• Customer reference number (printed on
your bill near the BPAY logo)
• Details of the account from which you
wish to make the payment
• Amount of the payment to be made
• Date on which the payment is to be
made (only if the user is scheduling a
future payment with NetBank)
What happens if you enter incorrect information?
You must be careful to tell us the correct
amount to be paid. If you tell us to make
a payment and later you discover that:
• an amount was not paid in accordance
with your instructions – then you should
call 13 2221 and talk to a customer
service offi cer;
• the amount you told us to pay was less
than the required amount – then you can
make another BPAY payment to the Biller
to make up the difference;
• the amount you told us to pay was
more than the required amount – then
you should call 13 2221 and talk to
a customer service offi cer; we will
attempt to recover the overpayment
on your behalf, however, recoveries are
performed on a best endeavours basis
and if we are unsuccessful, you will need
to ask for a refund from the payment
recipient; or
• the account, Biller code or customer
reference number was incorrect –
then you should call 13 2221 and talk
to a customer service offi cer.
1 Proceeds of NetBank transfers – For security reasons we may place a hold on funds transferred through NetBank
to your account from an unlinked Commonwealth Bank account. The hold may apply until the next business day (or
if the transfer occurs on a non-business day or after 11 pm (Sydney time) on a business day, until the second following
business day) or longer if the Bank needs to investigate the transaction.
46 47
When do we process your BPAY transaction?We will carry out your BPAY instructions either immediately or, in the case of a scheduled
payment or transfer, on the specifi ed date(s). However, if the payment date is a non-business
day, the debit will appear on your statement as at the next business day. Scheduled transfers
through BPAY and NetBank are not possible for Pensioner Security Account (Passbook option),
Passbook Savings Account, NetBank Saver Account and Savings Investment Account.
Can you cancel a BPAY transaction?We cannot stop any BPAY transaction once you have entered the relevant data.
What happens if a Biller cannot process a BPAY payment?If we are advised that a BPAY payment cannot be processed by a Biller, we will advise the user
of this and credit your account with the amount of the BPAY payment. We will also assist the
user to make a valid BPAY payment.
What you agree to when using BPAY View (not available with Deal Direct)BPAY View lets you receive some bills electronically instead of by mail. You can view and then
pay these bills using NetBank. Refer to page 84 for details on how to register to use BPAY View.
You must tell us if your contact details (including email address) change. When you register to
receive a bill or statement electronically through BPAY View, you represent that you are entitled to
receive that bill or statement from the applicable Biller.
Section 3: Card and electronic
access to your account
You agree to… That means you…
Disclose personal
and transactional
information as
needed to facilitate
the BPAY View process
• agree to disclose any personal information (e.g. your name, email
address and the fact that you are our customer) that is needed to
enable Billers to verify that you have registered to receive bills and
statements electronically using BPAY View or have cancelled your BPAY
View registration;
• agree to disclose any of your transactional information that is needed to
process your BPAY Payments and any user’s use of BPAY View;
• agree to allow data to be collected by us or your nominated Biller(s) about
whether you access your emails, our NetBank web site and any link to a
bill or statement.
• agree to notify us of any changes to your personal information;
• agree to disclose any updates to your personal information to all other
participants in the BPAY Scheme referred to below this table, as
necessary; and
• agree to disclose to a Biller that an event referred to on page 49,
(b–e) ‘Receiving paper bills and statements instead of electronic ones’
has occurred.
You agree to… That means you…
Receive bills and
statements
electronically
Agree that any electronic bill or statement you receive using BPAY View
satisfi es any legal obligations a Biller has to provide you with bills and
statements.
Access BPAY View
regularly to receive
your electronic bills
and statements
• agree to check your emails and/or our NetBank web site at least weekly;
• agree to ensure that your mailbox can receive email notifi cations (e.g. it
has suffi cient storage space available);
• agree to tell us if you or any user is unable to access your email,
our NetBank web site or a link to a bill or statement for any reason;
• agree that a bill or statement is deemed to have been received by you if a
notifi cation that you have a bill or statement is sent to your server at the
email address nominated by you, whether or not you choose to access
your email; or a notifi cation that you have a bill or statement is posted on
our NetBank web site, whether or not you choose to access our NetBank
web site; and
• agree that a bill or statement will not be deemed to have been received
by you if we receive notifi cation that: your mailbox is full; or you cannot
receive an email notifi cation; or an email notifi cation to you is returned to
us undelivered.
Personal and transactional information will only be disclosed to: the Bank; BPAY Pty Ltd; the
Billers nominated by you; these Billers’ fi nancial institutions; any agent appointed by BPAY Pty
Ltd to provide the electronic systems needed to implement the BPAY Scheme (e.g. Cardlink
Services Limited). The Bank does not store the personal information you provide to register with
BPAY View with a particular Biller. You can request access to your personal and transactional
information held by the Bank, BPAY Pty Ltd or its agent, Cardlink Services Limited.
Availability of electronic statements and billsExcept as expressly provided for in the terms and conditions in this section, we accept no
responsibility to arrange for or ensure that any Biller with whom you register to receive bills and
statements using BPAY View actually makes those bills or statements available to you.
If you fail to receive bills and statements from a Biller or the bill or statement is not available
to be viewed using BPAY View, you must contact the applicable Biller to obtain a paper bill
or statement.
48 49
(a) if you or the Biller deregister from
BPAY View;
(b) if we receive notifi cation that your mailbox
is full or that you cannot receive any email
notifi cation of a bill or statement;
(c) if our email to you is returned to us
undelivered, e.g. your email address is
incorrect or cannot be found;
(d) if we are aware that you are unable
to access your email or our NetBank
web site or a link to a bill or statement
for any reason; or
(e) if any function necessary to facilitate BPAY
View malfunctions or is not available for
any reason for longer than the period
specifi ed by the applicable Biller.
However, we will take all reasonable steps
to advise the applicable Biller of the
circumstances, unless the Biller already
knows about them.
We may disclose that the above
circumstances have occurred to the
institutions listed below the table on page 47.
Part D: General conditions Cards, PINs, Passwords and DevicesCards, PINs, Passwords and Devices remain
the property of the Bank. We will mail them
to you unless reasons such as security
prohibit us from doing so, in which case we
will notify you of alternative arrangements.
NetBank codes may be provided or selected
online or over the phone. Telephone Banking
passwords can be provided in branches or
through 13 2221. To use your account, you
must fi rst sign your card(s) and then activate
them by calling 13 2221, after which time
your card(s) can be used. Once activated,
your card(s) is valid only for the period
indicated on it and cannot be used after the
expiry month on the card(s).
You may establish additional logins in
NetBank. Additional logins that allow
transactions to be made on your account(s)
may only be used by you. You must not allow
other people to use an additional login that
allows transactions to be made on your
account(s). Additional logins that do not allow
transactions to be made on your account(s)
(known as ‘view only access’) may be
established for other people.
To nominate a specifi c PIN, call into one of
our branches. Our staff will be pleased to
help. If you want any other people to be able
to access your account, we can issue them
with cards and PINs, but you must ask us to
do so in writing.
Section 3: Card and electronic
access to your account
Suspending or cancelling BPAY ViewWe reserve the right at any time and for any
reason to:
• suspend or cancel use of BPAY View
entirely or in relation to a particular Biller;
and
• suspend or cancel your registration to use
BPAY View without notice to you although
we will take all reasonable steps to notify
you of such suspension or cancellation.
Using NetBank to store and delete bills and statementsUnless you delete the bills and statements
delivered to you through our NetBank web
site, they remain accessible for a period
determined by the Biller (up to 18 months).
After this set period they will be deleted,
whether they have been paid or not.
The maximum number of bills and
statements available to you through our
NetBank web site is 150. If you reach this
number and a new bill or statement is
delivered to you, the oldest bill (according
to the time of delivery) will be deleted by us.
What happens if there is a problem with BPAY View?If, as a result of an act or omission by you
or any user, or the malfunction, failure or
incompatibility of computer equipment you
are using at any time to participate in BPAY
View, a bill or statement is:
• not delivered to you on time or at all
(other than because you failed to view an
available bill);
• delivered to the wrong person;
• delivered with incorrect details; or
• delivered to you after you have
unsuccessfully attempted to deregister
from using BPAY View;
you must contact the applicable Biller to
advise them of the error and if applicable
obtain a correct paper bill or statement as
soon as you become aware of the error.
You are responsible for any charges or
interest which are payable to the Biller due
to any late payment as a consequence of
such error. Please contact the Biller directly
if you have any queries in relation to bills
or statements.
Receiving paper bills and statements instead of electronic onesYou may receive from the applicable Biller
paper bills and statements instead of
electronic bills and statements, although the
Biller may charge a fee where you request a
paper bill in addition to an electronic version.
Unless we are also the applicable Biller,
we accept no liability to provide you with
a paper bill or statement in any of the
following circumstances:
50 51
How do you cancel or stop a card or other Device?You must tell us in writing if you wish to
cancel a card or other Device issued to
another user. You can also ask us to place a
stop on your account, in which case you and
any other user will not be able to make any
further transactions on the account until you
ask us to remove the stop.
Cancellation of a card or a stop will not take
full effect immediately. You will continue to be
liable for any transaction amounts not yet
processed on your Debit MasterCard and for
all transactions made using a card or other
Device at a time when any of our electronic
transaction systems are unavailable, until you
have taken all reasonable steps to have the
card or other Device returned to us. For
Smart Access and Complete Access, you
will also be liable for transactions to purchase
goods and services at a price below a
merchant’s authorised fl oor limit, until you
have taken all reasonable steps to have the
Debit MasterCard destroyed or returned to
us. You authorise us to debit any outstanding
transaction amounts on your Smart Access
or Complete Access account to any other
account in your name.
Confi dential and up-to-date informationWe take all reasonable steps to ensure that
the information available through electronic
equipment is correct and updated regularly.
We also try to protect your account
information from unauthorised access during
transmission through electronic equipment,
but we will not otherwise be liable for any
unauthorised access by any means to
that information.
Electronic communicationWith your agreement, we may give you
notices and statements of your account
electronically by making them available on
our NetBank service and sending you an
email at your last notifi ed email address
informing you that the notice or statement
can now be retrieved from NetBank.
To receive statements electronically, you
also must have registered to use NetBank
to make transactions and tell us your
email address.
We may have restrictions on the types
of accounts or customers who can
receive statements electronically. It may
not be possible to receive statements
electronically if you require multiple
statements of the account.
We will only give you a notice or statement
electronically if you have specifi cally agreed
to this, we agree, and you have not
withdrawn your consent.
Daily limit for cash withdrawals and purchases through electronic banking terminalsCash withdrawals and purchases made
through ATMs, EFTPOS, overseas using
Maestro/Cirrus, MasterCard and Visa Plus
networks, post offi ces and other agencies
with Electronic Banking terminals are subject
to a daily withdrawal limit. Cards issued prior
to 28 July 2008 have a default limit of $800.
Cards issued on or after this date have a
default limit of $1,000.
The daily withdrawal limit does not apply if
you use the ‘credit’ option (using your Debit
MasterCard) to access your Smart Access or
Complete Access account.
Withdrawals are also subject to the note
denominations available.
The card limit is the total amount that can be
withdrawn using a PIN from all accounts
linked to a card in any one day. To request a
higher daily withdrawal limit call 13 2221.
If you request a higher daily withdrawal limit, your liability for unauthorised transactions may increase.
Letting others have a card If you ask us to do so in writing, we may
issue a card and PIN to another person. An
additional cardholder must be 16 years of
age or over, or for Smart Access or
Complete Access, 18 years of age or older.
An additional cardholder’s use of a card is
subject to these Terms and Conditions and
we suggest that additional cardholders have
a copy of them.
You are responsible for an additional
cardholder’s use of a card and for all the
amounts of any withdrawals, purchases or
payments an additional cardholder makes
using an access method as if you had used
that access method to make the transactions.
If you or an additional cardholder asks us,
we will remove the additional cardholder from
your account. This means that we update our
records so that the additional cardholder is no
longer shown as an additional cardholder.
If you wish to stop access by an additional
cardholder, you must ask us to remove the
additional cardholder and place a stop on
the additional card. You may do this either
by attending a branch or by phoning us
on 13 2221.
Making a deposit with an ATMWe accept responsibility for the security of
deposits lodged at our ATMs. The amount of
the deposit is subject to later verifi cation by
us. Our count of the funds deposited is
regarded as conclusive evidence of the
actual amount. If we differ on the amount of
the deposit, we will tell you of the
discrepancy as soon as possible.
Section 3: Card and electronic
access to your account
52 53
Section 3: Card and electronic
access to your account
Notices and statements given electronically
are taken to be received on the day that the
email enters the information system of your
internet service provider or the host of your
email address.
If for any reason we are unable to:
• provide an electronic statement or notice,
we may send you a paper statement
or notice;
• deliver emails to your nominated email
address, we may cancel your election
to receive statements electronically and
may instead send paper statements and
notices to your nominated postal address.
Disputes
Disputes with usIf you have a dispute with us, you can invoke
the dispute resolution procedure detailed on
pages 30 to 31 of this brochure.
Disputes with other partiesWe are not liable if any retailer refuses to
accept a card, PIN, password or other code.
Unless required by law, we are not
responsible for the goods and services a
retailer supplies to the user. If the user has
any disputes, they must be resolved with the
retailer. We are also not responsible for
complaints with respect to the goods and
services which a retailer supplies to the user
if incorrect charging occurred.
You must ensure that you enter the correct
amount in the electronic equipment before
authorising the transaction.
You agree that:
• the amount shown on a sales voucher
or any other evidence of a purchase is
suffi cient evidence of the purchase;
• the amount shown on a cash withdrawal
voucher, receipt or any other evidence of
a cash withdrawal is suffi cient evidence
of the cash withdrawal; and
• the above applies regardless of whether
the voucher or other evidence is signed
by you.
You should pursue any disputes over
incorrect charging with the retailer.
Safeguarding against unauthorised access to your accountAccess methods comprise the keys to your
EFT account. You must do everything you
reasonably can to protect all means of
access to your account. That means making
sure your cards, PINs, passwords and other
codes are not misused, lost or stolen.
You may suffer loss if you don’t suffi ciently
safeguard your cards, user IDs, PINs,
passwords or other codes.
If you use VoIP, please refer to page 40
for more information.
You must report the loss, theft or misuse of a card, PIN, password, Client Number or Device (including NetCode tokens)
Scenario What to do What we will do
Your card, PIN, password,
Client Number or Device may
have been lost or stolen.
Tell us as soon as you become
aware.
You may suffer loss if you don’t
tell us.
Call our hotline numbers listed
on page 83 or visit any branch .
If you report the event, we will
give you a number that you
should keep as evidence of
the date and time that you
reported the misuse, loss
or theft.
We will be liable for all losses
incurred after you tell us.
You suspect that someone has
knowledge of your or any
user’s PIN, password or
other codes.
There has been unauthorised
access to your account.
What happens if you don’t report loss, theft or misuse?If it can be shown that you unreasonably
delayed telling us of the loss, theft or misuse
of a card, PIN, password, other codes or
Devices, then you will be liable for
unauthorised transactions that occur on
your account.
We do not hold you liable for any
unauthorised transactions that could have
been stopped if the Bank’s hotline facilities
weren’t available at the time you tried to
report the loss, theft or misuse. However, you
should visit or telephone one of our open
branches as soon as possible.
Ensuring the security of your cards, PINs, passwords, Client Number, other codes or DevicesIf we believe a card, PIN, password, other
code or Device is being used in a way that
may cause losses to you or us, we may
cancel or withhold its use at any time, without
notice. We may cancel Debit MasterCards or
Keycards if they are not used for a long
period of time.
Before using a Debit MasterCard or Keycard that hasn’t been used for 12 months or more, you should contact us to ensure that it is still activated.
54 55
Section 3: Card and electronic
access to your account
Safeguarding your cards and Devices (including NetCode tokens)
Always… Never…
Sign cards immediately upon receipt.
Destroy cards when they reach their expiry date
or when they are no longer valid.
Return cards and Devices to us upon request.
Carry cards and Devices whenever possible and
regularly check they are still in your possession.
Remember to take your card, cash and
transaction record with you when a transaction
is completed.
Keep cards and PIN records anywhere near
each other, e.g. in a briefcase, bag, wallet
or purse.
Leave cards and Devices in a car.
Keep cards or other Devices and PIN records in
one item of furniture, even if in different
compartments (e.g. different drawers of the
same bedroom dresser).
Safeguarding your PINs, passwords or other codes
Always… Never…
Memorise a PIN, password or other code1 as soon as possible or
disguise any PIN or password that is recorded so that others will
not be able to decipher it.2
Destroy PIN, password or other code notifi cations as soon as
possible after receiving them or, if a user nominates a specifi c PIN,
password or other code, it must not be an obvious word or
number (such as a date of birth, middle name, family member’s
name or driver’s licence number) or one which is easily guessed.
Take precautions when using e-banking, e.g. be ready to make
the transaction when you approach the electronic equipment and
never let anyone watch you enter your PIN, password or other
code. Check the location of mirrors, security cameras or any other
means of observing PIN, password or other code entry and then
shield it from anyone.
Tell or let anyone fi nd out a
PIN, password or other code
– not even family or friends.
Record a PIN, password or
other code (disguised or not)
on a card or computer.
Keep a record of a PIN,
password or other code in a
situation where, if a thief fi nds
a card or code they will also
fi nd the record of the PIN or
password.
Liability for transactionsGenerally speaking, you are liable for any
losses arising from the acts and omissions
of all users. This includes you and any
person authorised by you to carry out EFT
transactions on your account. You will be
liable for:
• transactions carried out by you or with
your knowledge and consent;
• transactions carried out by any other
user, unless you have told us to cancel
that user’s PIN, password or other code,
and you have taken all reasonable steps
to have the card or other Device returned
to us; and
• unauthorised transactions if you
or any other user have not made a
reasonable attempt to disguise or prevent
unauthorised access to a PIN, password
or other code.
Unauthorised transactionsAn unauthorised transaction is one which
is not authorised by a user, for example, a
transaction which is carried out by someone
besides you or another user without your
knowledge and consent.
The EFT Code determines your liability for
losses resulting from unauthorised
transactions. We have refl ected the relevant
EFT Code provisions in the following
sections. Please note, however, that the EFT
Code (and the sections below dealing with
unauthorised transactions) are not applicable
to purchase transactions using your Debit
MasterCard where you sign to authorise the
transaction (but chargeback protection may
be available in that situation).
When you will not be liable for loss due to unauthorised transactionsYou will not be responsible for any loss
resulting from an unauthorised transaction
if any of the following apply:
• it is clear a user did not contribute to the
loss in some way;
• the loss arises after you notify us that any
card or other Device used to access the
account has been misused, lost or stolen
or that the security of a PIN, password or
other code used to access the account
has been breached;
• the loss was due to fraud or negligent
conduct by any of our employees or
agents or the employees or agents of any
person (including merchants) involved in
the Electronic Funds Transfer network;
• the loss occurs because any component
of an access method was forged, faulty,
expired or cancelled;
• the loss results from a transaction which
occurred prior to you or another user
receiving a Device or code required to
access the account;
• the same transaction was incorrectly
debited more than once to your account;
or
• the loss results from any conduct
expressly authorised by us (provided any
conditions imposed have been met).
1 Excluding NetCode.
2 We will not consider that a reasonable attempt has been made to disguise a PIN, password or other code if it is
recorded in reverse order; in an easily understood code, e.g. A=1, B=2; as a ‘phone’ number where no other phone
numbers are recorded or as a four digit number, prefi xed by a telephone area code; as a ‘date’ (e.g. 9/6/63) where
no other dates are recorded; as a series of numbers or words with any of them marked, circled or in some way
highlighted to indicate the PIN, password or other code; as an obvious word or number or one that can be found in
a purse or wallet.
56 57
Section 3: Card and electronic
access to your account
Limits on your liability for losses Even if losses occur in the previous scenarios
you will not be liable for:
• that portion of any money that has been
withdrawn from your account in any one
day which is more than the applicable
daily transaction limit;
• that portion of any money that has been
withdrawn from your account in a period
which is more than any other applicable
periodic transaction limit;
• that portion of any money that has been
withdrawn from your account which
exceeds the balance of that account
(including any pre-arranged credit) when
the transaction occurs;
• that portion of any money that has
been withdrawn from an account which
we had not agreed with you could be
accessed using the access method; and
• any amount recovered by us in the
exercise of our rights (if any) under the
MasterCard scheme rules against other
parties to that scheme (for Smart Access
or Complete Access where the ‘credit’
option is used).
If a PIN, password or other code was
needed to perform the unauthorised
transactions and none of the circumstances
above apply (that is, it cannot be proven on
the balance of probability whether or not you
contributed to the loss), you will be liable for
the lesser of:
(i) $150;
(ii) the balance of those account(s)
(including any pre-arranged credit) from
which funds were transferred in the
unauthorised transactions and which we
had agreed with you may be accessed
using the access method; or
(iii) the actual loss at the time you notify us
(where relevant) that the card or other
Device has been misused, lost or stolen
or that the security of the PIN, password
or other codes has been breached
(excluding that portion of any money lost
on any one day that is more than the
applicable daily transaction or other
periodic transaction limits).
When you will be liable for loss due to unauthorised transactions Where we can prove on the balance of probability that you contributed to the loss, you will be
responsible for losses resulting from unauthorised transactions (refer to page 52 for details on
‘Safeguarding against unauthorised access to your account’) if:
Scenario What you will be liable for
The losses occur before you notify us that a card or other Device
used to access the account has been misused, lost or stolen or that
the security of a PIN, password or other code used to access the
account has been breached as a result of:
• fraud by any user;
• any user voluntarily disclosing their PIN, password or other code;
• any user recording or otherwise indicating one or more PIN,
password or other codes on the outside of a card or other Device;
• any user keeping a record of one or more PIN, password or other
codes (without making any reasonable attempt to protect their
security) on one article or on several articles which are kept with a
card or other Device or which could be lost or stolen at the same
time as the card or other Device;
• any user keeping a record of PINs, passwords or other codes
(without making any reasonable attempt to protect their security)
which may be used without a card or other Device, on one article or
on several articles which could be lost or stolen at the same time;
• any user selecting or changing any of their PINs, passwords or
other codes to one which represents their date of birth or a
recognisable part of their name, despite us specifi cally instructing
the user not to do so and bringing to their attention the
consequences of their doing so; or
• a user acting with extreme carelessness in failing to protect the
security of all their PINs, passwords or other codes.
The actual losses which
occur before you notify
us that:
• the card or other Device
used to access the
account has been
misused, lost or stolen;
or
• the security of the PIN,
password or other
code used to access
the account has been
breached, but only if
such breach was the
dominant cause of
the loss.
The losses result from your unreasonable delay in notifying us after
you become aware of the misuse, loss or theft of a card or other
Device used to access an account or that the security of all the PINs,
passwords or other codes used to access an account have
been breached.
The actual losses which
occur between when you
become aware (or should
reasonably have become
aware in the case of a lost
or stolen card or Device)
and when you notify us.
58 59
Changes to Terms and Conditions for card and electronic access Our obligation to give you advance notice as specifi ed below does not apply if changes are
required in an emergency to restore or maintain the security of our Electronic Banking systems
or individual accounts.
Change
Minimum number
of days’ notice Method of notice
Introduce or increase a fee or charge relating solely
to the use of or the issue of any additional or
replacement cards, PINs, passwords or other
codes used to access your account.
30 days In writing1 unless we
cannot locate you.
Increase your liability for losses relating to
transactions using a card, PIN, password or other
code (subject to the liability limits established in
these Terms and Conditions).
30 days In writing1 unless we
cannot locate you.
Introduce, remove or adjust the daily transaction
limit or other periodical transaction limits applying
to the use of your card, PIN, password, other code,
an account or electronic equipment.
30 days In writing1 unless we
cannot locate you.
Any other change. Before the day
of change
In writing1 or by
advertisement in
the national or
local media.
If there are a lot of important or a suffi cient number of cumulative changes, we will issue a new
brochure setting out all the changes made to the Terms and Conditions in this brochure.
We will also give you notice of the variation with an account statement (as applicable).
Section 3: Card and electronic
access to your account
When we may reduce your liabilityWhere you allege that a transaction is
unauthorised and we have not placed a
reasonable daily or periodic transaction limit,
either we or an external dispute resolution
body may decide to reduce your liability
having regard to:
• whether the security and reliability of
the means used by us to verify that the
relevant transaction was authorised
by you adequately protected you from
losses in the absence of reasonable
daily or other periodic transaction limits
protection; and
• if the unauthorised transaction was a
funds transfer that involved drawing on a
line of credit accessible by the card, PIN,
password or other code needed to
perform the transaction (including
drawing on repayments made to a loan
account), whether at the time of making
the line of credit accessible by the card,
PIN, password or other code, we have
taken reasonable steps to warn you of
the risk of the card, PIN, password or
other code being used to make
unauthorised transactions on that line
of credit.
1 If we agree to provide you with statements and notices electronically, we may provide the notice electronically on
our NetBank service and send to your nominated email address an email notifi cation that the notice can be retrieved
from NetBank.
60 61
Section 4: Fees and charges
This section describes the available
transaction options, and fees and charges
which may apply to your account. The fees
you will be charged depend on the account
you select and the way in which you operate
your account. The table on page 62 shows
you the types of fees and charges and
transaction options that apply to your
account(s). Please note that NetBank service
fees may also be applicable (see page 71).
Please refer to the relevant section for details
of the applicable amounts. Exemptions from
the Monthly Account Fee (where applicable)
and from withdrawal fees (excluding access
fees and NetBank service fees) are available
for certain customer groups with eligible
accounts (see ‘Exemptions from fees’ on
page 74 and ‘Withdrawals that do not attract
any fees’ on page 78 for more information).
Monthly Account Fee The fee we charge to maintain your account. Page 62
Electronic withdrawal fees
Fees that you pay when you withdraw funds electronically. Page 66
Assisted withdrawal fees
Fees that you pay when you withdraw funds involving the
assistance of one of our staff.
Page 66
Cheques negotiated The fee that you pay for cheques written by you and
negotiated through the clearing system.
Page 66
Access fees The Bank will charge a fee each time you access funds or
make an account balance enquiry through the electronic
networks of other fi nancial institutions (including when you
use your card for purchases overseas).
Page 67
OverdrawingApproval Fee
The fee that you pay if your account is overdrawn or
exceeds your agreed overdraft limit (where applicable).
Page 68
Fees for common banking services
We charge fees for different types of banking services
and transactions that are not directly applicable to your
account.
Page 69
NetBank service fees Fees that may be charged for some NetBank services. Page 71
Government charges Governments may levy different types of charges on your
account.
Page 73
Exemptions from fees Some accounts and/or customer groups are exempt from
some bank fees and charges.
Page 74
Withdrawals that do not attract fees
Withdrawals from certain accounts do not attract
withdrawal fees.
Page 78
Relationship Balance Eligible customers are exempt from a Monthly Account
Fee and/or withdrawal fees (access fees and NetBank
service fees may apply). Conditions apply.
Page 78
The details in this section are subject to change at the Bank’s discretion. To ensure that you
have the most up-to-date information, you should telephone us on 13 2221 (24 hours a day,
7 days a week), visit our web site or call into a Bank branch. A paper copy of the up-to-date
information will be available to you free of charge from any branch.
62 63
Quick reference to fees and charges
Products currently available for sale Products no longer available for sale
TRANSACT SAVEPARK/INVEST
Streamline Account4
Passbook Savings Account
High Performance Cash Account
Cash Management Call Account
Savings Investment Account
Types of fees you maybe charged
Smart Access
Complete Access
Streamline AccountPensioner Security Account
Award-Saver Account
Youthsaver Account
NetBank Saver Account
Cash Investment Account
Electronic and Assisted/ Electronic Options e-Access Unlimited
Passbook8 Option
Keycard /Cheque Option
Monthly Account Fee –
charged to your account on
the fi rst business day each
month for the previous
complete calendar month
$43 $63 $42 $62 Nil Nil $5Inactive
accounts only5
Nil Nil $5 $52 $56 $5 $5 $56
Withdrawal fees ✓3 ✓2 ✓ ✓ ✓ ✓ ✓2 ✓ ✓ ✓ ✓
Access fees ✓ ✓ ✓ ✓ ✓ ✓ ✓ N/A ✓ ✓ ✓ ✓
Overdrawing Approval Fee ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Government charges
may apply✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Account closure fee Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil
Transaction options
Unlimited electronic withdrawals each month7
✓ ✓ ✓ ✓
Unlimited assisted
withdrawals each month7
✓ ✓
Electronic – up to 15 free
electronic withdrawals each
calendar month (excludes
NetBank service fees)1
✓ ✓Electronic Option only
✓ ✓
The Footnotes are listed at end of the table. Table continued overleaf.
If at any time there are insuffi cient funds in your account, we are authorised to debit any other of your accounts with the
Commonwealth Bank.
64 65
Products currently available for sale Products no longer available for sale
TRANSACT SAVEPARK/INVEST
Streamline Account4
Passbook Savings Account
High Performance Cash Account
Cash Management Call Account
Savings Investment Account
Types of fees you may be charged
Smart Access
Complete Access
Streamline AccountPensioner Security Account
Award-SaverAccount
Youthsaver Account
NetBank Saver Account
Cash Investment Account
Electronic and Assisted/ Electronic Options e-Access Unlimited
Passbook8
Option
Keycard /Cheque Option
Assisted/Electronic – up to 2 free assisted withdrawals and 5 free electronic withdrawals each calendar month (excludes NetBank service fees)
✓ ✓ ✓Assisted/Electronic
Option only
✓ ✓ ✓ ✓
AwardSaver – 1 free electronic withdrawal each calendar month (excludes NetBank service fees)
✓
NetBank Saver Account
– there are no bank fees or
charges on your NetBank
Saver Account4
✓
Cash Investment Account – up to 5 free electronic and assisted withdrawals each calendar month (with a maximum of 2 assisted withdrawals) (excludes NetBank service fees)
✓
If at any time there are insuffi cient funds in your account, we are authorised to debit any other of your accounts with
the Commonwealth Bank.
Quick reference to fees and charges (cont.)
1 Electronic withdrawals will be counted in the order they are processed. The Electronic Option applies automatically
on eligible accounts unless you have chosen the Assisted/Electronic Option when opening your account. You may
choose to switch from the Electronic Option to the Assisted/Electronic Option, or vice versa, at any time. However, if
you change your option, it will not take effect until the following month. Refer to page 66 for more information
regarding the different types of withdrawals and withdrawal fees.
2 Streamline accounts only – the Monthly Account Fee and withdrawal fees (excluding access fees and NetBank service
fees) do not apply for customers under 18 years of age and full-time tertiary students. Withdrawal fees (excluding access
fees and NetBank service fees) do not apply for 18-20 year olds not engaged in full-time tertiary studies.
3 Smart Access and Complete Access – the Monthly Account Fee and withdrawal fees (excluding access fees and NetBank
service fees) do not apply for full-time tertiary students. Smart Access and Complete Access – withdrawal fees (excluding
access fees and NetBank service fees) do not apply for 18–24 year olds not engaged in full-time tertiary studies.
4 Fees apply to Smart Access, Complete Access or the Streamline Account. There may be fees when you transfer
funds from your Smart Access, Complete Access or Streamline Account to a NetBank Saver Account.
5 The Monthly Account Fee applies only to inactive AwardSaver Accounts where the balance is less than $500. There
is no Monthly Account Fee on active AwardSaver Accounts.
6 The Monthly Account Fee does not apply to inactive Passbook Savings Accounts and inactive Savings Investment
Accounts. The Monthly Account Fee will not be charged from the following month until a customer-initiated transaction
is made. Refer to page 81 for meaning of inactive account.
7 Excludes ATMs overseas, EFTPOS and Debit MasterCard transactions overseas or involving currency conversion,
transfer group payments to third parties, International Money Transfers and separate services such as bank cheques,
periodic payments and transfers/deposits to other banks. Smart Access and Streamline e-Access also excludes
assisted withdrawals and cheques written.
8 Existing account holders only – no longer available for sale.
66 67
Electronic withdrawal fees
• Transfer from your account made at a
Commonwealth Bank ATM.
• Direct entry debit or periodical payment.
• All transfers or bill payments made through
NetBank and Telephone Banking.
$0.30 eachAny withdrawal fee(s) that accrue in a calendar
month will be charged to your account on the
fi rst business day of the following month.
• Cash withdrawal or purchase made via
EFTPOS.
• Cash withdrawal from your account made at
a Commonwealth Bank ATM in Australia.
$0.50 eachAny withdrawal fee(s) that accrue in a
calendar month will be charged to your
account on the fi rst business day of the
following month.
These fees are charged on the different types of electronic withdrawals you make on your
account in excess of those included in the ‘Transaction options’ listed on page 62 to 65.
Assisted withdrawal fees
• A withdrawal made over the counter at a
Commonwealth Bank branch.
• A withdrawal made over the counter at a
postal or private agency (including EFTPOB/
Bank@Post).
• A cheque issued on your account and
cashed over the counter at any
Commonwealth Bank branch.
• A withdrawal made via Telephone Banking
using an operator.
$2.00 eachAny withdrawal fee(s) that accrue in a calendar
month will be charged to your account on the
fi rst business day of the following month.
Cheques negotiated
All cheques written by you and negotiated
through the clearing system excluding cheques
cashed over the counter at any Commonwealth
Bank branch.
$1.00 eachAny withdrawal fee(s) that accrue in a calendar
month will be charged to your account on the
fi rst business day of the following month.
Section 4: Fees and charges
These fees are charged for each withdrawal, account balance enquiry or purchase you make
through the ATM, Maestro/Cirrus, MasterCard and Visa Plus networks mentioned above or
any purchase you make using your Debit MasterCard overseas or that involves currency
conversion. No exemptions or concessions apply to access fees. No fee is charged for any
transaction that fails as a result of either customer or network error. These transactions are not
counted as withdrawals in the transaction options described in the table on page 62.
Note: The Bank does not charge Access Fees on withdrawals or account balance enquiries
on transaction and savings accounts through non-Commonwealth Bank ATMs in Australia.
However, ATM owners may charge a fee, which will be disclosed at the time of the
transaction. If you proceed with the transaction, the ATM owner’s fee will be debited to your
account (in addition to the withdrawal amount, if applicable). You should check the ATM
owner’s fees that apply carefully before completing transactions at non-Commonwealth Bank
ATMs in Australia.
Overseas transactions
Withdrawals or balance enquiries through ASB Bank
ATMs in New Zealand, Commonwealth Bank ATMs
in Indonesia and Commonwealth Bank ATMs in
Vietnam.
AUD$2.00 The fee is charged to the account at the
time of the withdrawal or enquiry.
Withdrawals, balance enquiries or purchases
through Maestro and Cirrus, MasterCard or Visa
Plus networks of electronic terminals overseas (or
any purchase using your Debit MasterCard overseas
or that involves currency conversion).
Maestro (EFTPOS) or Debit MasterCard
purchase transaction AUD$1.00 plus 2.00% of the transaction value
Cirrus, MasterCard or Visa Plus ATM
balance enquiry AUD$2.00
Cirrus, MasterCard or Visa Plus ATM cash
withdrawal AUD$5.00 plus 2.00% of the transaction value
Access fees
68 69
Section 4: Fees and charges
Fees for common banking servicesYou are liable to pay and the Bank debits to your account any fees and charges which are
ancillary to the operation of your account. The fee is charged on the day the service(s)
are provided. For the latest fee information and fees for other common banking services,
please refer to our Common Banking Services Standard Fees and Charges brochure available
by calling 13 2221 or from any Commonwealth Bank branch. A paper copy will be provided
without charge on request.
Banking services Fees
Dishonoured cheques and debits
Items drawn on your account and dishonoured $35.00
Periodical payments or transfers
Per payment or transfer plus transfer fee, bank cheque fee, and postage as applicable
$1.80
Recent Transaction List
Issue of a Recent Transaction List at a Commonwealth Bank ATM $0.50 each
Special clearance of cheques/bills
Per item $15.00
Where Bank staff are used to seek clearance of the cheque by
attending the other fi nancial institution (minimum $30.00 plus
out-of-pocket expenses)
$60.00 per hour
For foreign currency transactions Visa International (Visa) converts purchases and withdrawals in foreign currencies into
Australian dollar equivalents at the rates set by Visa on the day Visa processes the purchases
or withdrawals.
MasterCard International Incorporated (MasterCard) converts purchases and withdrawals in
United States dollars into Australian dollar equivalents, and converts purchases and
withdrawals in other foreign currencies into United States dollar equivalents and then into
Australian dollar equivalents, at the rates set by MasterCard on the day MasterCard processes
the purchases or withdrawals.
Withdrawals made at the ATMs of ASB Bank in New Zealand and Commonwealth Bank in
Vietnam are converted by Commonwealth Bank into Australian dollar equivalents at a rate set
by us on the day the transaction is processed. Withdrawals made at the ATMs of the
Commonwealth Bank in Indonesia are converted into Australian dollar equivalents by
Commonwealth Bank in Indonesia at a rate set by it on the day the transaction is processed.
Overdrawing Approval FeeA maximum of one charge applies per account
per day irrespective of the number of transactions
honoured. The fee will not be charged on any day
there is a dishonour against the account.
$30.00The fee is charged on the day we honour such
a transaction(s).
This fee is charged when the Bank honours a transaction(s) made or authorised by you which
results in the account overdrawing or exceeding the agreed overdraft limit established for the
account. The fee applies to the following accounts: Smart Access or Complete Access;
Streamline Account; AwardSaver Account; High Performance Cash Account; Cash
Management Call Account and Cash Investment Account.
70 712 Depending on the destination country and the delivery method selected (if applicable).
Banking services Fees
Statements of account
Issue of photocopy/microfi che copy $7.00 each
Electronic issue of recent statement/transaction list (not via an ATM) $2.50 each
Issue of duplicate simultaneously with original statement $2.50 each
Out of cycle statement Nil
Stop payment notice
When you ask us to stop payment on a cheque you have written $15.00 per request1
Transfers/Deposits to accounts at other banks (in addition to the transfer fee noted on the
previous page under ‘Periodical payments or transfers’)
Where our customer is remitting $3.50
Where non-customer is remitting $10.00 (plus $2.00 per
$100.00 cash plus 50c
for each cheque)
Vouchers
Payable if you ask us to retrieve a voucher (i.e. paid cheques, deposit/withdrawal slips, duplicate
butt) that records a transaction on the Account.
Voucher request $4.00 per voucher
(minimum charge
$12.00)
Numerous voucher request $60.00 per hour spent
to retrieve vouchers
1 A request is defi ned as a grouping of cheque(s) on the same account, requiring payment to be stopped at the
same time.
Section 4: Fees and charges
International and foreign currency services The Bank offers many international and foreign currency services including International Money
Transfers and issuing and negotiation of drafts and other overseas payments. Details of the
fees applicable to these services can be obtained from the brochure ‘International and Foreign
Currency Services’ available at any Branch or on our web site at commbank.com.au.
NetBank service feesThe fees below may apply to your use of NetBank. These fees may be charged in addition
to any other applicable fee(s) described in this brochure.
Name of fee and description Amount of fee When fee is charged to account
Third party payments within a transfer group
Third party payments are free except
for each third party payment within a
transfer group in excess of 3 per
calendar month.
Note: A transfer group is a pre-defi ned
batch of payees, which enables more than
one payment to be made with a single
debit transaction to your account. A
typical use would be for payroll. A transfer
group can contain both third party and
linked accounts. You will only be charged
for the third party payments within a
transfer group.
$0.50 each The fee is charged when each additional
third party payment within a transfer
group is processed and will be debited
to the account from which the third
party payment is made, unless fees
cannot be charged to that account or
you nominate a fee account.
International Money Transfers (IMT)
IMT Fee Up to $22.00
each 2The fee is charged when each transfer is
processed and will be debited to the
account from which the transfer is made.
Amendment to detail $25.00 each This fee is charged when amendments
to the original IMT are requested by
the customer (i.e. benefi ciary name,
bank details or address) or where
the overseas bank is unable to
effect payment on the information
originally provided.
72 73
Name of fee and description Amount of fee When fee is charged to account
International Money Transfers (IMT) cont.
IMT advice of fate (trace) fee 3 $20.00 each The fee is charged when each
trace request is received and will
be debited to the account from
which the transfer was made.
Cancellation and return of
cover fee 3,4
$35.00 each The fee is charged if you request
to cancel an IMT where it has
already been submitted, but has
not yet been transferred to the
benefi ciary.
This fee will be debited to the
account from which the transfer
was made.
File imports
A fee is charged each time you
import payments into NetBank from
a fi le (such as MYOB).
$2.50 per import The fee is charged when the fi le is
imported and will be debited to
an account nominated by you.
Dishonour Fee
If there are insuffi cient available
funds to make a scheduled
payment.
$35.00 each The fee is charged to the account
if we are unable to debit the
account after fi ve attempts.5
Trace Fee
If you request confi rmation that a
third party payment was received
at the destination account.
$25.00 per transaction The fee is charged when you
request the Bank to initiate
the trace.
3 Messages sent to certain countries can require several follow-ups which are charged at $10 per follow-up message sent.
4 This is a request only and is dependent on the overseas bank obtaining the relevant debit authority to be able to return
funds. If funds are returned in foreign currency, they will be converted on the next business day using the telegraphic
transfer buy rate.
5 NetBank will make the fi rst attempt on the day on which your schedule is due; however, further attempts will be made
by NetBank on subsequent business days.
Section 4: Fees and charges
Name of fee and description Amount of fee When fee is charged to account
Recovery Fee
If you request the Bank to attempt a recovery of a third party payment. Charged in addition to the Trace Fee.
Note: Recoveries are performed on a
best endeavours basis and the fee is
levied whether recovery is successful
or not.
$25.00 per transaction The fee is charged when you request the Bank to attempt recovery.
Rejected Transaction Fee
A fee is charged for each payment transaction(s) that is rejected due to invalid destination account details.
$2.50 per transaction The fee is charged when the payment is rejected and will be debited to the account from which the payment is made or a nominated account for fees and charges.
Stop Cheque Fee
When you ask us via NetBank to stop payment on a cheque you have written.
$15.00 per request 6 The fee is charged to the account when you request the Bank to stop payment.
Replacement NetCode Token Fee
When you tell us that your NetCode Token has been lost, stolen or broken.
The fi rst replacement token is free. If you require more than one replacement token within any 12 month period from the date you register your fi rst token, a charge of $25 per token applies.
The fee is charged when you request a replacement NetCode Token.
Government chargesAny Government taxes, duties and charges that accrue in a calendar month will be charged
to your account on the fi rst business day of the following month. However, see page 19 for
details of fee charged for the Australian Government Guarantee Scheme for Large Deposits
and Wholesale Funding.
Stamp duty of $0.20 is payable on cheques in Norfolk Island.
6 A request is defi ned as a cheque or a range of cheques with consecutive serial numbers on the same account,
requiring payment to be stopped at the same time.
74 75Exemptions are indicated by a tick (✓). N/A means either there are no fees charged and thus no fee exemption is
applicable, or the exemption is not relevant to this account/customer. Blank means there is no exemption available.
Section 4: Fees and chargesExemptions from fees
Exemption categories
MAF – Monthly Account Fee
W’dal Fees – Withdrawal Fees
(access fees and NetBank
service fees may apply)
TRANSACT SAVE PARK/INVEST
Smart
Access and
Complete
Access
Streamline
Account1
Pensioner
Security
Account
AwardSaver
Account
Youthsaver
Account
NetBank
Saver
Account
Passbook
Savings
Account3
Savings
Investment
Account3
High
Performance
Cash
Account3
Cash
Management
Call Account3
Cash
Investment
Account
MAF
W’dal
Fees MAF
W’dal
Fees MAF
W’dal
Fees MAF2
W’dal
Fees MAF
W’dal
Fees MAF
W’dal
Fees MAF
W’dal
Fees MAF
W’dal
Fees MAF
W’dal
Fees MAF
W’dal
Fees MAF
W’dal
Fees
Relationship rebate – Customers
with a Relationship Balance of
$50,000 or more (refer to page 78
for further details).
✓ ✓ ✓ ✓ N/A ✓ ✓ N/A N/A N/A N/A ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Pensioner concession –
Customers in receipt of an
Australian War Veteran or Aged
Pension. This concession is only
available on the account to which
the pension is directly credited and
applies in the following month.
✓ 2extra
assisted w’dals
✓ 2extra
assisted w’dals
N/A 2extra
assisted w’dals
N/A N/A N/A N/A ✓ 2 extra assisted w’dals
✓ 2 extra assisted w’dals
✓ 2 extra assisted w’dals
✓ 2 extra assisted w’dals
Under 18s – Customers who are
under the age of 18 and personal
trust accounts where the benefi ciary
of the account is under 18.
When there is more than one party
to an account, the application of the
exemption will be based on the age
of the oldest account holder.
✓ ✓ N/A ✓ ✓ N/A N/A N/A N/A ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
18–20 year olds not in full-time tertiary studies – Where there is
more than one party to the account,
the application of the exemption will
be based on the age of the oldest
account holder of the account.
✓ ✓ N/A N/A N/A N/A N/A
21–24 year olds not in full-time tertiary studies – Where there is
more than one party to the account,
the application of the exemption will
be based on the age of the oldest
account holder.
✓ N/A N/A N/A N/A N/A
Full-time tertiary students –
applies on presentation of suitable
student identifi cation.
✓ ✓ ✓ ✓ N/A N/A N/A N/A N/A
1 Exemptions shown apply to Streamline e-Access, Streamline Unlimited, Electronic and Assisted/Electronic transaction options.
2 MAF will only be charged on AwardSaver Accounts when the account becomes inactive.3 Details for Passbook Savings Account, Savings Investment Account, High Performance Cash Account and Cash
Management Call Account are for existing account holders only.
76 77
Exemptions are indicated by a tick (✓). N/A means either there are no fees charged and thus no fee exemption is
applicable, or the exemption is not relevant to this account/customer. Blank means there is no exemption available.
Section 4: Fees and charges
1 Exemptions shown apply to Streamline e-Access, Streamline Unlimited, Electronic and Assisted/Electronic
transaction options.
2 MAF will only be charged on AwardSaver Accounts when the account becomes inactive.
3 Details for Passbook Savings Account, Savings Investment Account, High Performance Cash Account and Cash
Management Call Account are for existing account holders only.
Exemptions from fees (cont.)
Exemption categories
MAF – Monthly Account Fee
W’dal Fees – Withdrawal Fees
(access fees and NetBank
service fees may apply)
TRANSACT SAVE PARK/INVEST
Smart
Access and
Complete
Access
Streamline
Account1
Pensioner
Security
Account
AwardSaver
Account
Youthsaver
Account
NetBank
Saver
Account
Passbook
Savings
Account3
Savings
Investment
Account3
High
Performance
Cash
Account3
Cash
Management
Call
Account3
Cash
Investment
Account
MAF
W’dal
Fees MAF
W’dal
Fees MAF
W’dal
Fees MAF2
W’dal
Fees MAF
W’dal
Fees MAF
W’dal
Fees MAF
W’dal
Fees MAF
W’dal
Fees MAF
W’dal
Fees MAF
W’dal
Fees MAF
W’dal
Fees
Disabled customers – Customers
who are reliant on over-the-counter
services because of a disability that
prevents them from using
Electronic Banking facilities can
apply for this exemption at their
local branch.
The exemption will apply to a
nominated account.
✓ ✓ ✓ ✓ N/A ✓ ✓ N/A N/A N/A N/A ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
AwardSaver Account balance
– For inactive AwardSaver
accounts where the balance of
the account is greater than or
equal to $500.
N/A N/A N/A N/A N/A N/A ✓ N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Wealth Package – Eligible Wealth
Package customers where an
annual package fee is paid.
✓ ✓ ✓ ✓ N/A N/A N/A N/A N/A
Complete Home Loans –
Commonwealth Bank Complete
Home Loan customers who
obtained their home loan on or
before 31 October 1997 to assist
in the purchase of the property in
which they live. The exemption
will be applied for as long as that
loan remains current.
✓ ✓ ✓ ✓ N/A ✓ ✓ N/A N/A N/A N/A ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Inactive accounts – If your
account remains unused for
6 consecutive months
(commencing from the following
month). Applies to MAF only.
N/A N/A N/A N/A N/A N/A N/A N/A N/A ✓ N/A ✓ N/A N/A N/A N/A
78 79
Withdrawals that do not attract any feesThe following withdrawals do not attract
withdrawal fees and are not included in the
calculation of withdrawals in the Electronic
Option or the Assisted/Electronic Option:
• direct entry debits to repay
Commonwealth Bank Home and
Personal Loans or CBFC Limited or
Commonwealth Development Bank
direct entry loan repayments;
• direct entry debits for Commonwealth
Bank Mortgage Fund and The Colonial
Mutual Life Assurance Society Limited;
and
• debits for Bank and Government charges.
Relationship BalanceIf you:
• have an aggregate of savings and
borrowings of $50,000 or more
(Relationship Balance)
• as at the second last business day of
the month
• held in the eligible Commonwealth Bank
accounts listed on page 79
• which you own either individually or jointly
then in the following month you are exempt
from certain fees as shown in the table on
pages 74 to 77 on those accounts
which are:
• held by you individually. The Relationship
Balance is calculated from accounts
held by you individually as well as any
accounts held by you jointly. The balance
of a joint account is apportioned equally
among the parties to the account.
• held by you jointly. The Relationship
Balance is calculated only from accounts
held by you jointly with the same joint
account holders.
Section 4: Fees and charges
Contributing eligible accounts
Accounts that contribute to the
Relationship Balance
Accounts that do not contribute to the
Relationship Balance
Accelerator Cash Account, Base Variable Rate
Home Loan*, Base Variable Rate Investment
Home Loan*, Austudy/Abstudy Loans,
AwardSaver Account, CALIA Transaction
Facility, Campus Loan, Cash Investment
Account, Cash Management Call Account,
Complete Access, Complete Home Loan,
Commonwealth Direct Investment Account,
Farm Management Deposit, Fully Drawn Loan,
High Performance Cash Account, Home Equity
Facility, Investment Home Loan, Line of Credit
(Colonial branded), Money Market Call Account,
Mortgage Interest Saver Account, NetBank
Saver, Passbook Savings Account, Pensioner
Security Account – Keycard/Cheque, Pensioner
Security Account – Passbook, Personal Credit
Line, Personal Loan, Premium Banking Account,
Private Banking Account, Viridian Line of Credit,
Residential Property Investment Loan, Savings
Investment Account, Smart Access, Streamline
Account (including Streamline Overdraft), Term
Deposit, Term Loan.
All non-personal accounts, CBFC Products,
Commercial Bills, Commonwealth Bank
Investment Bonds, Commonwealth Financial
Services products, Credit Cards, Development
Bank products, First Home Saver Accounts,
Homepath products, Superannuation Savings
Account, Security Investments (Negotiable
Certifi cates of Deposit), Youthsaver Account.
* Includes Commonwealth Bank and Colonial branded facilities.
80 81
Meanings of words
If we use an example to show the meaning of
a word, the meaning of the word is not limited
to that one example or examples of a similar
kind. A reference in this document to the
singular includes the plural and vice versa.
Access methodA method we make available to users in
order for them to give us instructions which
we will rely on and act on to debit or credit
an EFT account. An access method involves
the use of components including devices,
identifi ers and codes or a combination of
these. It does not include a method where
the comparison of the appearance of a
manual signature with a written specimen is
the principal means of authenticating a user’s
authority to give the instruction.
AccountAn account referred to on the front cover of
this brochure.
Account holderThe person(s) in whose name the account
is held.
AuthorisationThe process some merchants follow to
confi rm that there are suffi cient funds
available in the account for the transaction.
BPAY Biller An organisation which issues bills to
customers, which customers can pay
through the BPAY Scheme.
BPAY PaymentA payment to a BPAY Biller through the
BPAY Scheme.
BPAY Scheme or BPAY
The electronic payments scheme through
which you may instruct us to make
payments (BPAY Payments) on your behalf to
organisations (Billers) who have advised that
you can make payments to them through
this scheme. We will tell you if we cease
to be a member of the BPAY Scheme.
BPAY ViewA scheme through which you can receive or
access bill summaries or access bill
statements electronically from participating
Billers nominated by you. You may access
such bill summaries through NetBank.
BPAY and BPAY View are registered trademarks
of BPAY Pty Ltd ABN 69 079 137 518.
Business dayA day that is not:
• a Saturday or Sunday; or
• a public holiday, special holiday or bank
holiday in the place in which any relevant
act is to be done or may be done.
Card Scheme RulesThe debit card rules of MasterCard
International Incorporated, which apply to all
transactions effected with the Smart Access
or Complete Access account using the
‘credit’ option.
Client NumberMeans the number we give you which, together
with your password, allows you to access your
account through the Internet banking service
that we may offer you from time to time.
Apart from you and us, no one else should
know your client number. A client number is
a ‘code’ as referred to in the EFT Code.
CodeInformation (for example, a PIN, password or
answers to your Personalised Identifi cation
Questions) which:
• is known to a user and is intended to be
known only to the user, or only to the
user and us;
• we require the user to keep secret;
and which
• the user must provide (in any manner
which we approve) to or through a device
or electronic equipment in order to
access an EFT account.
Communication networkThe communication network through which
we make a service available to you from time
to time.
Device A physical device (for example, a card)
used with electronic equipment to access
an EFT account.
e-bankingA range of banking services that utilise
electronic equipment including Telephone
Banking, NetBank, ATMs, Debit MasterCard,
Keycards, BPAY and BPAY View, EFTPOS,
Maestro/Cirrus, MasterCard, Visa Plus,
Automated Funds Transfers (AFTs) and
Deal Direct.
EFT accountAn account for your personal use (not being
an account designed primarily for use by a
business and established for business
purposes) maintained by us, and which
belongs to an identifi able account holder
who is a customer of ours and which we
permit a user to initiate an EFT transaction
from or to.
EFT transactionA funds transfer either from or to an EFT
account and which is initiated by the giving
of an instruction through electronic
equipment using an access method.
Electronic equipmentIncludes electronic terminal, computer,
television, telephone and mobile telephone.
Eligible pension or allowanceIncludes Aged Pension, Disability Support
Pension, Carer’s Pension, Wife’s Pension,
Widow’s Pension, Australian War Veteran
Pension and Mature Age Pension. (For
Pensioner Security Account only.)
Inactive accountWhen no customer-initiated transactions are
made on the account for 6 complete
consecutive calendar months.
NetCodeA randomly generated number, provided as a
result of using either a NetCode Token or
NetCode SMS.
NetCode SMSA Bank-generated NetCode received through
your mobile phone to facilitate Two Factor
Authentication.
NetCode TokenA Device that generates a NetCode and is
used to facilitate Two Factor Authentication.
OurBelonging to the Commonwealth Bank of
Australia ABN 48 123 123 124.
82 83
PayPass™
A way to pay for a purchase by tapping your
Debit MasterCard on a special PayPass reader.
If your purchase is $35.00 or under, there is no
need to sign a receipt or enter a PIN.
PensionerA retired person or independent retiree who
is at least 55 years of age, or in receipt of an
eligible pension or allowance from the
Commonwealth Department of Family and
Community Services or Department of
Veterans’ Affairs.
Personalised Identifi cation QuestionsPre-arranged security questions that may be
asked when you wish to perform certain
transactions or use certain functions in
NetBank. The correct answers must be
provided or the transaction cannot be made
or that function used.
PINPersonal Identifi cation Number.
Relationship BalanceYour combined total balances of eligible
accounts held with the Commonwealth Bank.
Schedule (NetBank only) A request for a payment or transfer of funds
for processing at a future date nominated
by you.
Statement periodEach period for which we draw up a
statement of your account or would have
drawn up a statement if:
• you and each other user had kept to
these Terms and Conditions; or
• there had been a transaction (other than
our writing off an amount you owed us)
on your account since the date we last
drew up a statement.
TransferTransfer of funds that you instruct us to make
to any of your Commonwealth Bank accounts,
your Commonwealth Bank Traveller’s Cash
card, or other fi nancial institution transaction
accounts (excluding Home Loans, Personal
Loans and credit cards).
Two Factor AuthenticationIs where your NetCode is required to
authenticate you as a user in combination
with your existing Client Number and
password.
UserIncludes you and any person authorised by
you to perform EFT transactions on your
EFT account.
VoIP (Voice over Internet Protocol)Involves the transmission of telephone calls
via the Internet. Please refer to page 40 for
more information.
We, us and the BankCommonwealth Bank of Australia
ABN 48 123 123 124.
You and yourThe account holder. In the case of
Youthsaver only also includes parent/
guardian or other adult who signed the
application form to open the account.
Meanings of words
I want to… Who to contact…
Get help understanding something
in this brochure
Call 13 2221 (24 hours a day, 7 days a week) or visit your
local Commonwealth Bank branch. If calling from overseas
call +61 13 2221.Open an account
Activate my Debit MasterCard,
Keycard or credit card
Request a higher daily
withdrawal limit
Obtain the balance on my account
Establish a password for
Telephone Banking
Report a lost or stolen passbook
Report a Debit MasterCard,
credit card or Keycard lost or
stolen in Australia
Request a statement to be sent
more frequently
Request a copy of the Bank’s
privacy policy
Advise of a change in
personal details
Report a Debit MasterCard,
credit card or Keycard lost or stolen
when overseas
Call +61 13 2221 (24 hours a day, 7 days a week), notify
any fi nancial institution displaying the sign for that brand of
card (e.g. MasterCard sign), phone the relevant hotline
number listed in our Credit Cards Conditions of Use
brochure or visit our web site: commbank.com.au
Report unauthorised transactions
on my account
Call 13 2221 (24 hours a day, 7 days a week), visit your
local branch, or if calling from overseas call +61 13 2221.
Obtain a Youthsaver application form Call 13 2221 (24 hours a day, 7 days a week), or visit any
school participating in Student Banking.
Obtain details of the Bank’s
current fees
Call 13 2221 (24 hours a day, 7 days a week), visit your
local branch, or visit our web site: commbank.com.au
Obtain current interest rates and
special interest rate offers
Where to get help
84
I want to… Who to contact…
Register to use NetBank Call 13 2221 (24 hours a day, 7 days a week) or visit NetBank
on our web site: commbank.com.au/netbank
Get help with using NetBank Call 13 2221 (24 hours a day, 7 days a week) or if calling
from overseas call +61 13 2221.
Register to use BPAY View Call 13 2221 (24 hours a day, 7 days a week) or register on
our web site: commbank.com.au/netbank
Find out more about BPAY Call 13 2221 (24 hours a day, 7 days a week).
Telephone Banking for hearing or
speech impaired customers
Contact us via the National Relay Service (NRS)
(24 hours a day, 7 days a week):
– TTY users phone 133 677 then ask for 13 2221
– Speak and Listen (speech-to-speech relay) users phone
1300 555 727 then ask for 13 2221
– Internet relay users connect to the NRS
(via www.relayservice.com.au) and then ask for 13 2221.
Get help with EFTPOS terminals The EFTPOS Helpdesk (1800 022 9661 is available
24 hours a day, 7 days a week).
Get help moving to Australia Contact International Customer Service on our web site
commbank.com.au/movingtoaustralia or if in Australia call
Freecall1 1800 188 888 (24 hours a day, 7 days a week), or if
overseas call 61 2 9762 0920 (24 hours a day, 7 days a week).
Make a complaint to Customer
Relations, or contact them to access
personal information
Write or fax your letter to: Customer Relations Department,
Commonwealth Bank Group, Reply Paid 41, Sydney NSW
2001 (fax: 1800 028 542) or Freecall1 1800 805 605. You can
also email your complaint by completing the e-form on the
web site: commbank.com.au/contactus/comment.asp
Take a complaint to the Ombudsman Write or fax your letter to Financial Ombudsman Service
GPO Box 3, Melbourne Victoria 3001
(fax: 03 9613 6399), or call 1300 78 08 08.
Or visit its web site: www.fos.org.au
General branch opening hours Monday to Thursday: 9.30 am to 4 pm.
Friday: 9.30 am to 5 pm.
For the convenience of our customers, several branches
open beyond these standard hours and on weekends. Please
visit our web site: commbank.com.au/fi ndus for details.
1 A free call unless made from a mobile phone, in which case it will be charged at the applicable mobile rate.
Where to get help
13 222124 hours a day, 7 days a week
commbank.com.auCommonwealth Bank of Australia
ABN 48 123 123 124
AD
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