Thumbnail icon for Commonwealth Bank

Commonwealth Bank Student Smart Access

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 8 July 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 customer rating
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 9/10
    Cardless cash.

    Commonwealth bank has been an easy bank to deal with. I absolutely love the app and the service they provide such as cardless cash. I remember I left my wallet at home a number of times, and I was able to access my money anywhere through my app. I also like that it has a limit on my withdrawal so that I don’t go overboard on my spending and it helps me budget.

    Read full review

    Commonwealth bank has been an easy bank to deal with. I absolutely love the app and the service they provide such as cardless cash. I remember I left my wallet at home a number of times, and I was able to access my money anywhere through my app. I also like that it has a limit on my withdrawal so that I don’t go overboard on my spending and it helps me budget.

    Price
    9/10
    Features
    9/10
    Customer service
    9/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Yunita, New South Wales reviewed 13 days ago
  • Overall 6/10
    I do recommend people to join Commonwealth

    I have been with Commonwealth my whole life and I barely have any problems being with them. I do recommend people to join Commonwealth

    Read full review

    I have been with Commonwealth my whole life and I barely have any problems being with them. I do recommend people to join Commonwealth

    Price
    -1/10
    Features
    -1/10
    Customer service
    6/10
    Convenience
    -1/10
    Trust
    6/10
    Less
    Amy, Victoria reviewed 13 days ago
  • Overall 5/10
    Adequate

    It's ok.

    Read full review

    It's ok.

    Price
    9/10
    Features
    5/10
    Customer service
    5/10
    Convenience
    5/10
    Trust
    5/10
    Less
    Andrew, Victoria reviewed 16 days ago
  • Overall 6/10
    Accessible and good customer service

    There are other banks that have a much more competitive interest rate in their savings account and have great reward programs. The only reason why I like and would recommend commonwealth in favour of those is because of accessibility.

    Read full review

    There are other banks that have a much more competitive interest rate in their savings account and have great reward programs. The only reason why I like and would recommend commonwealth in favour of those is because of accessibility.

    Price
    10/10
    Features
    0/10
    Customer service
    8/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Anna, Victoria reviewed 26 days ago
  • Overall 9/10
    Great customer service , no interest for students

    Commonwealth Bank is amazing at catering for the needs of students, by allowing them to organise their spending while also providing a no interest fee on the smart access accounts.

    Read full review

    Commonwealth Bank is amazing at catering for the needs of students, by allowing them to organise their spending while also providing a no interest fee on the smart access accounts.

    Price
    10/10
    Features
    7/10
    Customer service
    10/10
    Convenience
    9/10
    Trust
    10/10
    Less
    Ba, New South Wales reviewed about 2 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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