What is NetBank Saver Commonwealth Bank?

An online savings account with the flexibility to move money in and out of your linked CommBank transaction account using NetBank or the CommBank app.

Is a NetBank Saver Account worth it?

The bank fees are low (compared to other) and the customer services at the branches are good and clerks are friendly. The netbank app is also easy to use. With the Netbank Saver account, you can get 0.5% interest when you have some excess money on your account. I would definitely recommend the bank services.

Can I withdraw from NetBank Saver?

There’s no minimum balance to open a NetBank Saver or a GoalSaver. You can earn bonus interest rate on a GoalSaver when you grow your balance by at least $200 by the end of the calendar month and make no withdrawals in that month.

Does NetBank Saver have fees?

You may incur a prepayment interest adjustment and administration fee. Variable introductory rate applies on your first NetBank Saver. The standard variable rate of 0.05% p.a. applies if the bonus interest conditions aren’t met.

How do I avoid Commonwealth Bank fees?

The fee will be waived if:

1. You’re under 25 years of age, or.
2. You deposit at least $2,000 per month (excludes Bank initiated transactions), or.
3. You’re on Student Options, or.
4. You meet other criteria.

Can you take all your money out of a savings account?

Yes! It’s your hard-earned money to spend and save. If something happened where you needed every cent of your savings, you’re generally able to withdraw your entire account. However, depending on your bank’s policy, you may run into some penalty fees if you don’t time the withdrawal or transfer right.

Can you direct debit from a NetBank Saver account?

Yes. You can direct debit from a Netbank Saver.

Is it bad to take money out of savings?

Federal law requires banks to penalize members who make more than six transactions per month from their savings accounts. A bank may charge you a fee, or it might close your account if you exceed the limit a certain number of times in a year.

How do I avoid bank fees?

Can you avoid it? Banks often waive their fee if you keep a minimum amount in your account or meet other requirements such as linking checking and savings accounts. Some banks may require a minimum balance and may charge a fee if you drop below it.

Does CommBank have a monthly fee?

You’ll be charged a monthly account fee if you don’t meet the conditions required to have it waived. The fee will be waived if: You’re under 25 years of age, or. You deposit at least $2,000 per month (excludes Bank initiated transactions), or.

Which banks do not charge a monthly fee?

Citibank and TD Bank are the only two banks that offer no interest checking accounts with no minimum to open. BB also offers a checking account with no monthly maintenance fee; however, it is only available in select states.

Can I withdraw 50000 from bank?

There is no cash withdrawal limit and you can withdrawal as much money as you need from your bank account at any time, but there are some regulations in place for amounts over $10,000. For larger withdrawals, you must prove your identity and show that the cash is for a legal purpose.