The Commonwealth Bank of Australia has extensive initiatives and policies in place to meet the corporate’s commitment to being Australia’s most accessible bank. CommBank offers personal banking, business solutions, institutional banking, company information, and more.
Commonwealth Bank buy now pay laters
Apply by 30 September 2023
CommBank StepPay Card
Earn up to $50 cashback when you apply, get approved, and meet the criteria.
No annual fee.
No international transaction fees
0% p.a. purchase rate.
No monthly fees.
Repay over 4 fortnights.
No rewards program.
The maximum credit limit is $2,000.
There is a $10 late payment fee.
Get access to $300 - $1,000 before your next payday.
A single upfront fee depending on the amount you will advance.
Join now and enjoy no monthly account fees. Simply select the account that suits you best and you could be trading with CommSec in as little as 5 minutes.
Compare & monitor stocks, get expert stock recommendations, and keep your strategy on track on CommSec's great range of research and trading tools.
Offers access to over 25 international markets, with expert stock recommendations to help you manage risk and achieve your financial goals.
Commonwealth Bank money transfer
CommBank International Money Transfer
Send money overseas starting at just $6.
Send an International Money Transfer to more than 200 countries, in over 30 currencies from the NetBank or the CommBank app.
When converting funds to USD, GBP, EUR or NZD, CommBank will cover any correspondent bank fees that may apply (Terms and Conditions apply).
Multiple deposit options.
No minimum transfer is required.
Safe and secure.
Other money transfer services may offer higher exchange rates.
What products and services do Commonwealth Bank offer?
Today the Commonwealth Bank is one of the 'big four’ Australian banks, a leading provider of integrated financial services including retail banking, business banking, funds management, superannuation, insurance, investment and share trading services. Personal banking products include transaction accounts, savings accounts, demand and term deposits, home loans and personal loans, and credit cards.
CommBank serves business customers with a full range of commercial products including business credit cards, accounts, loans, equipment and trade finance, and agribusiness services. The bank also provides services for corporations, major financial institutions and government bodies including financial market management, underwriting, trade and distribution, equities, payments and transactions, investment management and custody services.
How long have CommBank been in business?
The Commonwealth Bank was established in 1911 under the Commonwealth Bank Act and, unusually for an Australian bank of the time, was empowered to operate both savings and general banking. The bank’s first branch opened its doors in Melbourne in 1912, and also started traded through Australia Post agencies, an arrangement that remains to this day. The bank moved its headquarters to Sydney in 1916, and in 1920 started to take over central bank powers including responsibility for issuing Australian bank notes.
In the 1920s and 30s, Commonwealth Bank continued to expand its role in Australia’s central banking. Emergency legislation introduced during the second world war handed almost all central banking powers to the Commonwealth Bank, and these powers were used to expand the Australian economy after the end of the war. At the end of the 1950s, concerns over their dual role in the central and commercial sectors caused the government to split the bank. The central banking responsibilities were handed to the Reserve Bank of Australia while the Commonwealth Banking Corporation (CBC) continued to operate its commercial functions.
Commonwealth Bank Group diversified into the fields of home insurance and travel during the 1960s and 70s, and in 1974 launched Australia’s first credit card, called Bankcard. The bank later introduced credit cards provided by MasterCard (1984) and Visa (1993). Deregulation and the entry of foreign banks in the mid-1980s was a challenging time for Commonwealth Bank, a period that culminated in the organisation converting from a government-owned body to a fully-privatised company.
In 1991, CommBank merged with State Bank of Victoria to create Australia’s largest domestic bank. The bank introduced Maestro and Cirrus debit card services in 1993, launched an internet site in 1995, followed by a totally online banking service in 1997. Australian Banking and Finance Awards named Commonwealth Bank as Bank of the Decade in 1999, and Best Bank in 1996, 2000, and 2002. In the 21st Century, the Commonwealth Bank has further expanded its Asian and Pacific operations, strengthened its customer base and broadened its role as a diverse financial services institution.
The bank has a shareholder base totalling more than 800,000, has over 1,000 branches across Australia, almost 3,800 Australia Post agencies, 4,100 ATMs, supports 190,000 EFTPOS terminals and has 10 call centre’s answering more than 120 million calls each year.
At Finty we want to help you make informed financial decisions. We do this by providing a free comparison service as well as product reviews from our editorial staff.
Some of the products and services listed on our website are from partners who compensate us. This may influence which products we compare and the pages they are listed on. Partners have no influence over our editorial staff.
Disclaimer: You need to be logged in to claim Finty Rewards. If you proceed without logging in, you will not be able to claim Finty Rewards at a later time. In order for your rewards to be paid, you must submit your claim within 45 days. Please refer to our T&Cs for more information.