How to overdraw your account at an ATM Commonwealth

• Our Overdraw feature can help you avoid missing important payments, being charged late payment fees from third parties, and the inconvenience of transaction and payment dishonours.

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  • A little extra when you need it
  • Only pay for what you use
  • Rates, fees & repayments
  • Applying for a new overdraft or overdraft limit increase is easy. Get in touch to get started.
  • We can help
  • Call 13 1431
  • Can you overdraw a debit card at an ATM Commonwealth?
  • How much will CommBank let me overdraw?
  • How do you overdraw your account at an ATM?
  • Can you overdraw money from an ATM?

  It’s designed to be used only occasionally – for those times where you don’t have enough money in your account to cover a payment.

  CommBank may allow you to overdraw transaction accounts (such as your Smart Access, Complete Access1 or Everyday Offset) for the following payment types:

  • Direct Debits, such as gym membership payments, bills and loan repayments
  • PayTo payments
  • Cheques
  • Scheduled BPAY payments
  • Spend using your linked CommBank card

  If you need ongoing credit, consider one of our credit products to see which one may be a better fit for you.

• In most cases, if we allow any payments to overdraw your CommBank transaction account and the balance isn’t brought back to positive by midnight that day (AEST), you’ll be charged a $15 overdraw fee. This is usually charged the next business day2. 

  For each day your account remains overdrawn, interest charges may also apply (check out the latest interest rates for debit balances on your account).

• For customers who hold a Smart Access, Complete Access1, or Everyday Offset account and don’t have a Relationship Manager3, the feature would have already been applied to your account when it was opened. Overdrawing transactions may then be approved at CommBank’s sole discretion.

  You can remove or update your overdrawing preferences in NetBank or the CommBank app (select your account, then 'Manage', then ‘Overdraw preferences’). You can also give us a call or visit your nearest CommBank branch4.

  If you have a Relationship Manager3, they’ll review any transactions which overdraw your account and approve or decline the transaction4.

• The Overdraw feature is available to customers who:

  • Have a Smart Access, Complete Access1, or Everyday Offset; or
  • Have an account that’s managed by a Relationship Manager; and
  • Are aged 18 years or older.

• 1 Product no longer available to new customers.

  2 Check your account terms and conditions for details on this fee.

  3 Excludes Premier Bankers.

  4 It’s important to note that switching off the Overdraw feature may not mean your account will never go into negative – there may be situations where a card transaction doesn’t require our authorisation, a merchant settles a transaction late, or our systems are unavailable.

  The target market for this product will be found within the product’s Target Market Determination, available here.

Banking / Personal Overdrafts

• Features & benefits
• Rates & fees
• Who can apply
• How to apply
• Tools & support

• A little extra when you need it

  Avoid the inconvenience of overdrawing your account and paying dishonour fees - helping you feel better prepared for unexpected expenses.
  

• Only pay for what you use

  It's free to set up your overdraft account. And it won’t cost you anything if you don't use it.
  

  If you choose to use your overdraft, you’ll pay interest on the money you use plus a fee of up to $10 a month.

Rates, fees & repayments

14.90% p.a.
Calculated daily on the money you use and charged monthly.

If the highest amount used from your overdraft the month before is:
• $10 or more - you'll be charged $10
• less than $10 - you won't be charged a fee

There are no set minimum repayments.
While there is no set amount to pay back each month, you should aim to repay your overdraft as soon as possible to minimise any fees and interest.

• You can apply for a Personal Overdraft if you’re:

  • Aged 18 years or above
  • An Australian permanent resident, New Zealand citizen, or eligible visa holder living in Australia
  • Eligible to work in Australia and receiving regular income
  • Have a good credit rating
  • Already hold or eligible to open a CommBank Everyday Account

  The Code of Banking Practice requires joint account holders to have equal use of an overdraft.

  Hold Australian or New Zealand citizenship, or Australian permanent residency, or an eligible visa (call us on 13 1431 to find out more).

  Be sure to read the Personal Overdraft Terms & Conditions.

• Applying for a new overdraft or overdraft limit increase is easy. Get in touch to get started.

Check out our Low Rate, Low Fee and Awards cards.

Get the funds you need to take your next step.

With CommBank AdvancePay, you can now access money before your next pay day. Apply online in just a few minutes.

We can help

• Your questions answered

• Call 13 1431

  Call 13 1431 8am to 7pm, Monday to Friday and 9am to 2pm on Saturday (Sydney/Melbourne time)

• Visit your nearest branch

• Applications are subject to credit approval. View the Personal Overdraft Terms and Conditions (PDF 438kb). Full terms and conditions will be included in our Personal Overdraft offer. Other fees and charges may be payable.

  The target market for this product will be found within the product’s Target Market Determination, available here.

Can you overdraw a debit card at an ATM Commonwealth?

How much will CommBank let me overdraw?

How do you overdraw your account at an ATM?

Can you overdraw money from an ATM?