The Commonwealth Bank, or CommBank as it’s fondly known, is Australia’s largest bank and one of the most recognised brands in Australia. The bank naturally offers a wide range of retail banking services including transaction bank accounts with either a linked debit Mastercard or Visa card.
Compare debit card providers right here with Savvy and find out if a CommBank debit Visa or Mastercard is right for your personal financial circumstances.
*Please note that Savvy does not represent Commonwealth Bank for their debit card products. All information correct as of October 2022.
For a personal account, CommBank offers a debit Mastercard with its Smart Access everyday transaction bank account, Pensioner Security account and Cash Investment Account.
However, if you open a business transaction account, you’ll have the option of having a CommBank-linked business Visa debit card. To get a Visa debit card, you’ll need either a Business Transaction Account – Zero fee option, or Business Transaction Account – $10 account fee option.
Commonwealth Bank is one of very few banks in Australia which offers debit Mastercards for personal accounts, and Visa cards for business use.
These are some of the features of a Commonwealth Bank debit Mastercard for personal use:
Overdrawn and dishonour fees
If your CommBank debit Mastercard linked bank account accidentally becomes overdrawn, the following fees will be charged:
Digital payment options
A CommBank debit Mastercard will work with the following digital wallets and wearables:
Exemptions from account fees
These are some of the customers who are exempt from paying CommBank’s monthly account-keeping for a transaction bank account:
Using a CommBank debit Mastercard overseas
You can use your debit card overseas. The Commonwealth Bank debit Mastercard will work at over 35 million locations worldwide, wherever you see the Maestro, Mastercard or Cirrus logo. However, there are several fees that apply if you use your CBA debit card overseas, so this may not be the cheapest option for financing your holiday. For this reason, it’s important to compare debit cards and consider all your options with Savvy before using your CommBank debit card abroad. Fees charged by CommBank include:
It is worth remembering that both a currency conversion fee and an international transaction fee will be charged on each transaction you make on your CommBank debit Mastercard overseas, which combine to be a 6% fee on the value of each transaction.
CommBank Prepaid Visa Travel Cards
An alternative to paying costly overseas transaction fees with your standard debit Mastercard is to get a CommBank Travel Card. These prepaid Visa Travel Money Cards can hold up to 13 currencies and are issued free by the bank. These prepaid cards can be recharged when running low on funds for no additional cost. However, there are initial load fees, cash withdrawal fees, and currency conversion fees which will apply if you pay for goods and do not have the relevant currency stored on your travel card.
To get a Commbank debit Mastercard, you’ll first have to open a Smart Access or other eligible bank account to link to your card. If you are already a Commbank customer, you can apply for a debit Mastercard through Commbank online banking. Just follow the prompts to apply for a card.
If you are not a current customer, you’ll need to apply for an account through online banking, and fill in the required details. Once your bank account has been established, you’ll then need to download the CommBank app or log onto NetBank to order your card.
Your debit card will be sent through the post, and once you receive it you’ll have to activate it through the CommBank app or Netbank. While you’re waiting for your card to arrive, you can use cardless cash to withdraw funds at an ATM. A cardless cash code can be generated by the CommBank app – just go the cardless cash section and follow the instructions to get your code.
These are the requirements for getting a Commbank debit Mastercard:
NetCode is CommBank’s online security protection, which will send you a single-use password when you use your debit card to shop online.
If you aren’t travelling or shopping at an overseas store, you can lock your debit card for overseas transactions through the CommBank mobile app, ensuring international scammers won’t be able to steal from your account.
Cash back rewards are offered on a personalised basis based on your regular shopping habits. The rewards can be claimed through the CommBank mobile app.
Although there are many exemption categories for the monthly fee, CommBank still charges most adults over 25 and under 60 $4 a month to open a transaction bank account with a linked debit card.
If you use your debit card to shop online, and the store you purchase from is based overseas, you’ll be charged a 3% international transaction fee.
You’ll get slugged a $2 overseas ATM fee each time you withdraw cash from any overseas ATM, including Commonwealth Bank ATMs located abroad.
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