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Commonwealth Transaction Accounts

Commonwealth Transaction Accounts

2.9 from 14 reviews

See the Best Transaction Accounts / Debit Cards in 2019 as rated by Australians on ProductReview.com.au.


This account is ok but if you don't get the deposits of $2000 it a little disappointing we get charged for being loyal to the bank.

Charge account keeping fees and extra fees to get counter service

I have just opened transaction and term deposit accounts with the bank. Recently, to my surprise, the bank charge me extra transaction fees when I renewed and topped up my term deposit through my transaction account. First of all, they don't warn you of any fees upfront. Then if you top up your term deposit via your existing transaction account over counter, they will still charge you withdrawal fees. When I complaint to them, they said the work around is to withdraw the cash from ATM then top it up over counter. They did refund me the fees after I complaint but this type of bank service will be going down soon.


I banked with the Commonwealth for many years until I finally made the effort to actually shop around for a better deal - and there are plenty out there. However, the most annoying thing for me was poor customer service. When I called the bank to ask how I could reduce my monthly fees as I was regularly exceeding my ATM withdrawal limit. I was not given any useful help only to find out six months later that I could have easily switched to the streamline unlimited withdrawals version. When I complained they reluctantly offered to reimburse some of my fees but this never appeared in my account. The whole customer complaint process was tedious and although out of principle I endeavoured to pursue my complaint, I gave up in the end and walked.
Plenty of Commonwealth ATMs, good online banking facilities
Typical poor service expected of the big four, high fees.


It's rather a useless account. $6.00 on monthly fee and a couple of issues with reimbursing transaction. They never came through with the money which they clearly withdrew from the streamline account. Be warned, shop around the only thing good i can say is customer service, but that makes sense if their profit was around 5bil last financial year.
Great transaction history
1. Hefty fees on overdrawn amount 2. $6.00 monthly fee. 3.Theres no interest you can earn while banking with them.


I've been with Commonwealth Bank for about ten years now and perhaps that says it all. Although other banks can offer high interest rates, why "fix what ain't broke"? I've seen a huge improvement in the customer service and efficiency at the branches I visit. Also, now with the Commonwealth Bank buying over Bankwest, we are able to use any of the Bankwest ATMs without incurring any charges. You can link your Streamline account to a Netbank Saver to earn a higher interest.
Very easy and quick to access using online Netbank, unlimited online transactions, low monthly fees.
This account has a low interest rate.


I have been with the Commonwealth for over 20 years and have found the Streamline e-Access account to be good value. You get unlimited electronic transactions, the option to have a debit card and a Netbank Saver account and Netbank makes it easy to pay your bills, transfer funds and manage your accounts online. However, it's interface can be rather cumbersome and the balance details take a while to update which can be confusing. The interest rate is very low on the Streamline account, but you can open a Netbank Saver account for free which you can transfer your money to easy and earns you higher interest on your savings. In the past, Commonwealth's packages were fairly average but they seem to be putting in more effort into their latest offerings. Some of their fees are still fairly high though, so it would be nice if these could be either reduced or removed completely.
Low fees, unlimited electronic transactions, many branches and ATMs, easy to manage your account through Netbank, access to other services such as a debit card and a Netbank saver account
Over the counter transaction fees on the e-Access account, overdraft fees


I like the account because of the flexibilty and no frills.I dont agree with the fees,you arent given enough time to put the money in the account before they take the $30 fee
The account is always available and I have linked it to my ING account and its easily accessible with my CBA account
The cost of the overdrawn fees.


Compared to other general or everyday keycard, i would say it's alright.
NetBanking is quite handy to check your funds online. However, i think the layout is a bit confusing sometimes, and could possibly do with some improvements.
It also sometimes takes a while to update exactly how much you have and how much you've spent.
There are plenty of commonwealth bank atms available, which makes withdrawing money convenient.
There are fees when you have insufficient funds in your account. I got charge $30 for this, which is a pretty hefty amount!
You also get charged for using other atm machines other than commonwealth bank ones


I've had a Streamline account for 8 years now. All these years, it has not been problematic in any way. I've also received full benefits as a tertiary student. The convenient online access to this account through NetBanking is great, although that feature could be better managed to work well on all browsers, not just the main ones like Firefox and Internet Explorer.

It can be linked with all your other Commonwealth bank cards and accounts online for easy management, much like other banks, but I'm most familiar with this bank's and they have had my trust for years.
Great internet banking linking, most number of ATMs around our country, good customer support in most branches, low fees compared to other banks'
hefty fees for accidentally dropping below $0 credit, low interest rates, low everyday usage limits, poor credit checking and management when travelling overseas (be prepared to be called at strange hours to confirm transactions even if you have already alerted them of your travels prior to departure)


The Commonwealth Bank's Streamline account is an average (if not slightly below average) Student bank account providing students with a reasonable range of service it's price - free.* (*except for hidden fees such as getting a transaction history printed at an ATM - you won't know you've been charged $1.50 to check your last 5 Debit Card activities until you get your statement when it comes in the inconvenient, and infrequent intervals of every 6 months.)
No transaction fees except for just a few services.
Very low interest rate on savings kept in the account, statements are infrequent.


I have spoken with the Commonwealth Bank several times and each time I get the "we are thinking about offering a debit card", but it never seems to get any further. Do I change banks because I want one? I have been thinking about it, but so much work, so I stay put, not because of great features though!
Commonwealth Bank do not offer a Debit Card, which section this is in. They offer credit cards, but 'are thinking about' offering a debit card sometime int he distant future
Many of the other big 5 banks offer debit cards for those of us who don't want huge credit card debts, if we can't control it.


Overall, I am very impressed with the Commonwealth Bank Streamline Account. I have been with them for about 9 years now. My local branch have really friendly staff. I like the ease and convnience of the phone and internet banking and if you do need customer service over the phone, there is a long wait but you actually speak to someone in Australia who can speak English! they do have excessive overdraw fees etc. but overall provide good service, especially for full-time students.
Good deal for student (no fees), easy to use internet banking, great telephone banking, great customer service (at branches, security
High overdraw fees, charge for statement history (at ATM or branch), can't transfer money to another account besides your own over the phone.


The availability of ATMS and branches is a winning strength of Commonwealth Bank. The transactions are normally processed in 1 day,cheques cleared out in 2 days,which is good!
The Internet Banking is very easy to use,which is different to other banks. Telephone banking is always available in any branch
The overdrawing fee is too high $35 and they will not refund you the money unless you ask for it but you will have to state with them that the fee is excessive and unreasonable. I tried my self before and they all gave me back the money in 2 days


Not a bad account if you have limited funds as you don't pay per transaction like some other bank accounts around. Overall happy with this type of account and the bank.
Convenient everyday account. Little or no fees - especially if you have a minimum amount of debt or money in all of your accounts. Easy to access money at branch, atm, phone, eftpos or on internet with unlimited transactions. Loads of branches and ATM's
If you accidently leave not enough money in to cover a payment coming out then they charge a pretty high overdraft fee. The monthly account fee is a joke. no bank should charge that.

Questions & Answers

Why aren't Streamline accounts listed online as an option for transaction accounts. Peter
No answers


Commonwealth Transaction Accounts
CategoryTransaction Accounts / Debit Cards
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