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Commonwealth Bank Student Smart Access

Advertiser disclosure
Account fee
$0.00
Payment options
Apple Pay, Google Pay, PayID, Samsung Pay, Garmin, Fitbit
Interest rate
0% p.a.

Mozo editorial review Commonwealth Bank Student Smart Access

Last updated: 27 February 2020.

binocular icon
What's hot
  • No monthly account fees
  • Unlimited free transactions from network ATMs, EFTPOS, counter deposits, phone and internet
  • Won a 2019 Mozo Experts Choice Award for Excellent Banking App
What's not
  • Foreign exchange fee 3.00%
Mozo snapshot

The Commonwealth Bank Student Smart Access Account lives up to its name, with no monthly fees (if you're under 25), no withdrawal fees at 4,000 ATMs in Australia and an accessible CommBank app to track and organise your money anywhere, anytime. Plus, the linked debit card gives you access to exclusive offers and comps through Mastercard Debit Rewards.

So listen up students - this just might be the account you’ve been looking for, especially if you like doing your banking on a smartphone. After all, the Commbank app was recently named a 2019 Mozo Experts Choice Award-winner in the Excellent Banking App category. 

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Key features

The Commonwealth Student Bank Account not only waives all monthly account fees for the duration of your studies, but you won’t pay a cent for withdrawal fees at 4,000 CommBank and Bankwest ATM’s in Australia either.

You can use the CommBank Student Smart Access account to shop 24 hours/7 days a week with online and phone banking or in stores with your linked Debit Mastercard. It also comes with free access to exclusive offers and competitions via Mastercard Debit Rewards.

Because it works on the Mastercard network, your debit card will work worldwide wherever MasterCard is accepted. But if you’re spending internationally, just bear in mind, there is a foreign exchange commission of 3.00% and a $5 overseas ATM fee.

And when you’re looking to monitor your money, the CommBank app (now with Spend Tracker) helps organise your money anywhere, anytime - making this a great pick for a student who's balling on a budget.

If that’s not enough, there’s no minimum account balance to open the account.

However, it should be noted that the CommBank Student Smart Access Account has a $2,000 a day ATM withdrawal limit and just like most transactions accounts in Australia, the CommBank account doesn’t pay interest. So make sure this is the account for the money you use day-to-day, and consider a separate savings account for growing your stash.

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Who is it good for

The Commonwealth Bank Student Smart Access Account is a fee-free option for Aussies with an apprenticeship or studying tertiary education, designed for both domestic and international students (you can open an account whilst still oversees if arriving in Australia within 3 months). If you’re not a student, take a look at the CommBank Smart Access Account instead.

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Any catches

You’ll have to show a valid student card in-branch at the beginning of each year to have the monthly fees waived, so plan for a trip to the bank.

Details

Rates and fees information correct as at 3 December 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 0.00% p.a.

  • n/a

  • n/a

Fees
  • $0.00

  • n/a

  • Unlimited free transactions from network ATMs, EFTPOS, counter deposits, phone and internet

  • $0.00

  • Commonwealth, Bankwest

  • $0.00

  • $0.00

  • $3.00

  • $0.00

  • $0.00

  • $0.00

  • $3.00

  • $5.00

  • 3.00%

  • $0.00 monthly

Other financial bits
  • $0.00

  • $0.00

Features
  • $2,000.00

  • yes

  • yes

  • no

  • yes

  • yes

  • yes

  • yes

  • Must show valid student card at the beginning of each year to waive monthly fees.

  • none

Atm card
  • $5.00

  • $0.00

  • 3.00%

Debit card
  • $5.00

  • $0.00

  • 3.00%

Payment options

Apple Pay, Google Pay, PayID, Samsung Pay, Garmin, Fitbit

Customer Reviews

How are Commonwealth Bank bank accounts rated by the Mozo community?

Overall
7.6/10
Price
6.6/10
Features
6.4/10
Customer service
7.6/10
Convenience
8.2/10
Trust
7.6/10

Latest reviews of Commonwealth Bank Student Smart Access

  • Overall 8/10
    Great but not trustworthy.

    Great bank that works with you to set up account and deal with issues. Issues from royal commission only downside.

    Read full review

    Great bank that works with you to set up account and deal with issues. Issues from royal commission only downside.

    Price
    7/10
    Features
    7/10
    Customer service
    7/10
    Convenience
    7/10
    Trust
    5/10
    Less
    Yevinda, Victoria reviewed 2 days ago
  • Overall 5/10
    There are lots of things to like about this bank

    They are convenient and its easy to get hold of a customer repracentive when ever you would like. They also have a easy to use app. How ever it would be nice to find a bank who wants to reward there customers more.

    Read full review

    They are convenient and its easy to get hold of a customer repracentive when ever you would like. They also have a easy to use app. How ever it would be nice to find a bank who wants to reward there customers more.

    Price
    5/10
    Features
    4/10
    Customer service
    6/10
    Convenience
    6/10
    Trust
    5/10
    Less
    Ellen, Victoria reviewed 23 days ago
  • Overall 10/10
    Excellent staff and great service

    The staff are always very helpful and if there is ever a problem they fixed quickly. They also have a lot of patience when putting the coins in the individual bags.

    Read full review

    The staff are always very helpful and if there is ever a problem they fixed quickly. They also have a lot of patience when putting the coins in the individual bags.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Tom, South Australia reviewed 3 months ago
  • Overall 7/10
    Great Bank If You want to stay on top of your $

    I like the commonwealth bank because it is has an easily accessible app. I can easily send money and can notified on all purchases. The benefits they offer are not really beneficial for me but may be for others!

    Read full review

    I like the commonwealth bank because it is has an easily accessible app. I can easily send money and can notified on all purchases. The benefits they offer are not really beneficial for me but may be for others!

    Price
    4/10
    Features
    3/10
    Customer service
    8/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Taylah, Queensland reviewed 3 months ago
  • Overall 8/10
    Good bank but very hard to contact

    I like this bank as they are very good to have a basic account with due to the good cost and interest. However, I dislike them as they are hard to contact if any issues arise. The customer service over the phone is also not very good. People should be aware that if you constantly need to contact your bank, maybe don't choose this one. They are pretty good otherwise.

    Read full review

    I like this bank as they are very good to have a basic account with due to the good cost and interest. However, I dislike them as they are hard to contact if any issues arise. The customer service over the phone is also not very good. People should be aware that if you constantly need to contact your bank, maybe don't choose this one. They are pretty good otherwise.

    Price
    9/10
    Features
    8/10
    Customer service
    6/10
    Convenience
    8/10
    Trust
    8/10
    Less
    Sophie, New South Wales reviewed 3 months ago
Commonwealth Bank

About Commonwealth Bank

The Commonwealth Bank might be one of Australia's oldest and largest banks, but lately it's determined to do things differently. The Commonwealth Bank reckons it's focusing more on customer service and earning your business rather than counting on it. If you like the sound of that, then check out the Commonwealth Bank's wide range of personal banking products, including term deposits, savings accounts, credit cards, home loans and personal loans.

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