The Commonwealth Bank Student Smart Access Account lives up to its name, with no monthly fees (if you're under 30), 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.
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.
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.
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.
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Balances from $0: 0.00% p.a. |
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n/a |
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n/a |
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$0.00 |
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Monthly account fee waived for holders under 30 years of age, or those 30 and above who deposit at least $2,000 each calendar month. |
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Unlimited free transactions from network ATMs, EFTPOS, counter deposits, phone and internet |
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$0.00 |
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Commonwealth, Bankwest |
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$0.00 |
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$0.00 |
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$3.00 |
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$0.00 |
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$0.00 |
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$0.00 |
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$3.00 |
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$5.00 |
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3.00% |
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$0.00 monthly |
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$0.00 |
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$0.00 |
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$2,000.00 |
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yes |
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yes |
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no |
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yes |
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yes |
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yes |
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yes |
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Monthly account fee waived for holders under 30 years of age, or those 30 and above who deposit at least $2,000 each calendar month. |
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none |
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$5.00 |
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$0.00 |
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3.00% |
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$5.00 |
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$0.00 |
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3.00% |
Apple Pay, Google Wallet, PayID, Samsung Pay, Garmin, Fitbit
Handy
Read full reviewI love this bank cause the cost is very minimal and a really good bank for your child’s first debit card
Read full reviewI love this bank cause the cost is very minimal and a really good bank for your child’s first debit card
Commonwealth Bank is a renowned bank for several reasons. Firstly, it offers a diverse range of financial products and services that cater to the needs of various customers, including personal banking, business banking, insurance, and wealth management. Secondly, it has a strong reputation for providing innovative and convenient digital banking solutions, making it easy for customers to manage their finances on the go. Finally, Commonwealth Bank has a long-standing history of serving the Australian community and is committed to operating in a socially responsible and sustainable manner. However, some of the drawbacks of Commonwealth Bank are higher fees compared to other banks, some customers have reported poor customer service experiences, and interest rates on some products may not always be the most competitive. Despite these drawbacks, the overall performance of Commonwealth Bank makes it a good bank.
Read full reviewCommonwealth Bank is a renowned bank for several reasons. Firstly, it offers a diverse range of financial products and services that cater to the needs of various customers, including personal banking, business banking, insurance, and wealth management. Secondly, it has a strong reputation for providing innovative and convenient digital banking solutions, making it easy for customers to manage their finances on the go. Finally, Commonwealth Bank has a long-standing history of serving the Australian community and is committed to operating in a socially responsible and sustainable manner. However, some of the drawbacks of Commonwealth Bank are higher fees compared to other banks, some customers have reported poor customer service experiences, and interest rates on some products may not always be the most competitive. Despite these drawbacks, the overall performance of Commonwealth Bank makes it a good bank.
Commonwealth bank is the only bank trusted enough to manage my savings. They reward you for keeping up your savings. They also offer special deals through commbank eg cashback from certain stores. And they are a great feature to add to everyday banking.
Read full reviewCommonwealth bank is the only bank trusted enough to manage my savings. They reward you for keeping up your savings. They also offer special deals through commbank eg cashback from certain stores. And they are a great feature to add to everyday banking.
I’ve beeen with commonwealth bank for awhile now it’s ok but customer services like the waiting timeframe on the phone is ridiculous
Read full reviewI’ve beeen with commonwealth bank for awhile now it’s ok but customer services like the waiting timeframe on the phone is ridiculous
Spend Account
$0.00
Apple Pay, Google Wallet, PayID, Samsung Pay, Fitbit Pay, Garmin Pay
0% p.a.
Glide Account
$0.00
Apple Pay, Google Wallet, PayID, Samsung Pay, FitBit Pay, Garmin
0% p.a.
