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.