Looking to open CBA everyday account.
Just wondering if there is easy to avoid their fees.
They have following terms:
"Monthly account fee waived for accounts with at least $2,000 deposited each calendar month (excludes Bank initiated transactions)."
What does bank initiated transaction mean? So you can't transfer from another bank account? But technically aren't all transactions coming from some bank account or the other including salaries.
Thanks
Transferring in from another bank is fine. The only transfer I make to my CBA debit account every month is an Osko payment from another bank, which I then immediately transfer over to my credit card account.
Ok perfect.
just open the account through Comsec not Commonwealth bank. You will get a free account saving account
OP wants everyday account.
Other banks may offer better conditions.
What's the fees for the comsec account?
https://www.commbank.com.au/investing/commonwealth-direct-in…
If you link it to a Commsec trading account, there is no monthly fee.
Interesting. So it is possible…
"Other fees may apply. Please see the CommSec Financial Services Guide
$0. There are no monthly fees associated with a CommSec Share Trading account."
No fee for the CDIA account but you will not be eligible for CBA yellow program.
By "Bank", they mean Commonwealth Bank. Any other bank is fine.
Thanks
Usually it means transfers between your bank accounts within Commonwealth. If you have a savings and separate transaction account you can’t just keep bouncing money between them. Should be OK for money coming in from external accounts.
Exactly what it means, the bank did it. So things like refunds initiated by the bank, any kind of bank run cashback things, etc. You should be able to transfer from another bank account.