Important Notice to Commonwealth Bank Customers · PDF file78 • Relationship Balance ... Convenient access (parent/guardian’s consent required for customers under the age of 16)

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.


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.


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


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.


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.)


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

k b

ran

ch

Call

13 2

221

2

Part

icip

atin

g

sch

oo

ls

Mo

rtg

ag

e

bro

kers

On

line

3

Min

imu

m

op

en

ing

bala

nce

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.



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.



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.



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


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

✓ ✓



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);



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.




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’.



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



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.


cannot locate you.

Change the minimum balance to which an

account keeping fee applies.


cannot locate you.

Change any other term or condition. No later than the

day of change

In writing1 or by



Introduction or variation of any Government

tax or charge.

Not applicable In writing1 or by


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).



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



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).



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



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



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.



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).



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.



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.



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.



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.



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.



52 53



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



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



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;


withdrawn from your account in a period

which is more than any other applicable

periodic transaction limit;


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.


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).


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.


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).



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


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)

✓


– 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.




Cheques negotiated

All cheques written by you and negotiated

through the clearing system excluding cheques

cashed over the counter at any Commonwealth

Bank branch.





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


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.


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


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.



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)


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



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.


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)


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.


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

B28

52 3

00

30

9