Statutory Trust Account

Transaction account used to deposit funds held in trust on behalf of certain business customer's client. They are required by certain industries to be held by law and are also referred to as General Trust Accounts in some States and Territories.
Category: Trust Accounts  Last Updated June 3, 2026  Effective June 3, 2026

 General Lending Rates

No product information is currently listed. Please make contact with us for more information.

 Product Features

  • Other Additional Information: The Statutory Trust Account allows a customer to receive funds through online banking, cheque, ATMs and staff assisted channels including at a branch.
  • Digital Banking Additional Information: You'll have visibility of your statutory trust account 24 hours a day, 7 days a week, through our online banking services, NetBank or CommBiz. You can track transactions as they happen and view images of cheques deposited to your account. You'll also benefit from more detailed transaction data, making it easier to use and reconcile your account. Integrating your online accounting software, like Xero, MYOB, QuickBooks or Wiise with your bank account could save time on admin and manual reconciliations.
  • Digital Banking Additional Information: Use QR Cardless to deposit notes, coins and cheques (subject to product eligibility) by using the latest version of the CommBank app to scan a QR code at a compatible CommBank ATM
  • Other Additional Information: Fees and charges are not charged to the Statutory Trust Account but are redirected to a valid CommBank transaction account nominated by you.
  • Other Additional Information: Any interest earned on Statutory Trust Accounts is paid to the relevant state or territory statutory body.
  • Other Additional Information: Deposits in Sealed Envelopes (QuickCash) allows for a deposit via a Bank-supplied envelope (QuickCash Bag), to authorised and approved customers - for use to deposit cash and/or cheques at a CBA branch that is nominated to accept deposits via the QuickCash Service.
  • Other Additional Information: Payments through the Electronic Lodging Network (ELN) from your eligible Statutory Trust Account or other eligible trust account can only be made if you are a subscriber to an ELNO and have provided the ELNO with the necessary authority. In addition to these terms and conditions, transactions carried out through the ELNO are subject to the relevant ELNO's Financial Settlement Terms and Conditions. We are entitled to treat instructions received by the ELNO which are authorised by your sigantories' log in and pssword through the ELNO as duly authorised by you.

 Product Eligibility

  • Business Additional Information: To hold this product, Customers will need to have a relevant industry license, practice certificate or membership, as legal practitioners, real estate agents, auctioneers, conveyances or settlement bodies. Before a customer opens this account, they may want to confirm with the relevant Statutory Body to determine if they are required to hold this account.
  • Business Additional Information: To hold this product, Customer will need to have a valid CommBank transaction account for the redirection of fees and charges
  • Residency Status - Residency Status. Additional Information: In the case of domestic businesses (eg. a sole trader, partnership, company, etc), To hold this product customer will need to have an ABN or ACN where relevant; or in the case of foreign companies that carry business in Australia, be registered with ASIC. The eligibility of other foreign companies will be subject to review on a case by case basis

 Bank Fees and Charges

  • Cash Handling Fee (Event), Amount: Not Listed.. Additional Information: For coin handling is 1% of the total value of the coin component of all deposit and withdrawal transactions, where the total value of coins handled exceeds $1,000 per day
  • Dishonour Fee (Event), Amount: 5.00. Additional Information: Charged to the nominated redirection account when we are unable to debit your account due to insufficient available funds.
  • Cash Handling Fee (Event), Amount: Not Listed.. Additional Information: For note handling is 0.25% of the total value of the notes component of all deposit and withdrawal transactions, where the total value of notes handled exceeds $50,000 per day
  • Monthly Account Fee (Periodic), Amount: 5.00. Additional Information: Calculated at the end of each month and charged to your nominated redirection account on the first day of the following month. Monthly Account Fee payable for partial months is calculated pro-rata on a daily basis.
  • Assisted Transactions (Transaction), Amount: 5.00. Additional Information: Withdrawals or transfers made via telephone banking using an operator.
  • Assisted Transactions (Withdrawal), Amount: 5.00. Additional Information: Withdrawals made over the counter at a CommBank branch, Australia Post office or private agency (including EFTPOB/Bank@Post).
  • Cheque Transaction (Transaction), Amount: 5.00. Additional Information: Cheques written by you and negotiated through the clearing system. Cheques deposited to your account (including cheques deposited via Quick Deposits or QuickCash envelope banking).
  • Assisted Transactions (Transaction), Amount: 5.00. Additional Information: Cheques drawn on your account and cashed over the counter at any CommBank branch.
  • Assisted Transactions (Deposit), Amount: 5.00. Additional Information: Deposits made over the counter at a CommBank branch, Australia Post office or private agency (including EFTPOB/Bank@Post).
  • Quick Deposits (Deposit), Amount: 10.00. Additional Information: Fee per deposits made via the Quick Deposit Box or QuickCash envelope banking.

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