Commonwealth Bank Student Smart Access

$0.00

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

0% p.a.

Commonwealth Bank Student Smart Access

$0.00

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

0% p.a.

Mozo Review   Commonwealth Bank Student Smart Access Review

Last updated: 25 October 2019.

What's hot:
  • No monthly account fees

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

  • 2019 Excellent Banking App (Mozo Experts Choice Awards)

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. 

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 through 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 the student 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.

Who it's good for:

The Commonwealth Bank Student Smart Access Account is a fee-free option for anyone 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.

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 29 January 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 10/10
    Great bank.

    Easy to use app, quick and easy to set up account.

    Read full review

    Easy to use app, quick and easy to set up account.

    Price
    -1/10
    Features
    -1/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Jessica, Western Australia reviewed 2 months ago
  • Overall 10/10
    Easy app and great customer service.

    Very convenient to transfer money to other people. Very easy app to use. No issues so far.

    Read full review

    Very convenient to transfer money to other people. Very easy app to use. No issues so far.

    Price
    8/10
    Features
    9/10
    Customer service
    7/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Nicki, Queensland reviewed 2 months ago
  • Overall 8/10
    Low Interest, highly Informative, helpful Staff.

    As an avid consumer, you look for a bank that's clear with their options and doesn't give you a run for your money, and Commonwealth Bank represents that image. They have fast customer service, they get straight to the point with their informative websites and waivers, the staff are friendly and helpful and the interest rates are exceptionally low! What more could you ask for?

    Read full review

    As an avid consumer, you look for a bank that's clear with their options and doesn't give you a run for your money, and Commonwealth Bank represents that image. They have fast customer service, they get straight to the point with their informative websites and waivers, the staff are friendly and helpful and the interest rates are exceptionally low! What more could you ask for?

    Price
    7/10
    Features
    6/10
    Customer service
    6/10
    Convenience
    8/10
    Trust
    9/10
    Less
    Tan, New South Wales reviewed 2 months ago
  • Overall 6/10
    Ability to open accounts online

    I could open an account for my daughter online without having to make an appointment at the branch - which is why I opened an account with Commonwealth and not my own bank. Extremely convenient.

    Read full review

    I could open an account for my daughter online without having to make an appointment at the branch - which is why I opened an account with Commonwealth and not my own bank. Extremely convenient.

    Price
    7/10
    Features
    4/10
    Customer service
    7/10
    Convenience
    7/10
    Trust
    5/10
    Less
    Patricia, South Australia reviewed 3 months ago
  • Overall 10/10
    Customer service is great

    Just a good bank.

    Read full review

    Just a good bank.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Danielle, New South Wales reviewed 4 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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