Commonwealth Bank

About this bank

Fees & Offers

Monthly Fee

AUD 4

Fee Waiver Conditions

A$4/month. Waived if you are under 30, deposit A$2,000+ per month, or for 12 months when you open via the Moving to Australia (⁠p⁠r⁠e⁠-⁠a⁠r⁠r⁠i⁠v⁠a⁠l⁠) proce⁠s⁠s⁠.

Age-⁠based Waiver

Monthly fee waived under ag⁠e⁠ ⁠3⁠0

Max Bonus Savings Rate

5.20⁠% p.a. when conditions are⁠ ⁠m⁠e⁠t

Welcome Bonus

Not specif⁠i⁠e⁠d

Transfers & Cards

Intl. Transfers

Supports PayID/Osko instant domestic transfers. Can receive international transfers (ID verification must be completed firs⁠t⁠)⁠.

e-⁠Transfer

Not specif⁠i⁠e⁠d

Pre-⁠arrival Window

Apply from 14 days before arri⁠v⁠a⁠l

Debit Card

Debit Masterc⁠a⁠r⁠d

Australia Details

ATM Fees

Free at CommBank ATMs. Independent ATMs may charge operator fees. Overseas ATM withdrawals cost A$5 plus a 3.5⁠% international transaction f⁠e⁠e⁠.

Savings Account

NetBank Saver: 5.20⁠% p.a. for the first 5 months (intro bonus), then a standard variable 2.10⁠% p.a. (as of Jul 202⁠6⁠)⁠.

Account Opening

Apply online from 14 days before arrival (no Australian address required). Complete ID verification at a branch within 20 days of opening, or the account may be closed. Card pickup after arriv⁠a⁠l⁠.

TFN

Without a TFN (Tax File Number), interest is taxed at the top withholding rate — register your TFN once you have⁠ ⁠i⁠t⁠.

Important notes

Monthly fees, welcome bonuses, and charges change over time (last verified: July 2026). Japanese-language support may depend on branches with Japanese-speaking staff and is not always an official service. Compare real transfer costs as fees plus exchange-rate margin. Always check each official site for the latest details.