Banking / Personal Overdrafts
Rates, fees & repayments14.90% p.a. If the highest amount used from your overdraft the month before is: There are
no set minimum repayments.
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
Can you overdraw a debit card at an ATM Commonwealth?Fees & rates
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 (Syd/Melb time), you'll be charged a $15 overdraw fee. This is usually charged the next business day2.
How much will CommBank let me overdraw?A personal overdraft is connected to your CommBank Everyday account, so you can enjoy easy access to extra funds once approved – from $100 up to $20,000.
How does overdraw work CommBank?It allows you to access additional funds should you run out of your own. Like most loans, by accessing your overdraft you'll be charged interest on the money you borrow. If, for example, you have an overdraft limit of $1,000 but only use $50, you'll pay interest on the $50 that you use.
How do you overdraw at an ATM?As mentioned, in order to allow your account to overdraft, you will have to opt-in for an “overdraft protection” service. This means that you will authorize your bank or credit card company to overdraft your checking account for ATM withdrawals.
|