The seamless link to your trading account
Your cash account for trading.
The Commonwealth Direct Investment Account (CDIA) is the preferred cash management account for CommSec share traders - with it you can seamlessly settle trades, transact and earn tiered interest based on your account balance. Your CDIA is linked to your CommSec Trading Account so you enjoy low brokerage costs plus the convenience of settling trades without the need to transfer between accounts. The tiered interest rate applies to the entire balance on your account (including dividends paid into this account), pay no monthly account-keeping fee, enjoy unlimited electronic withdrawals1 and complete access to your cash anytime.
How it works
The CDIA is the preferred cash management account for CommSec, allowing you to seamlessly settle trades, save and transact all from one account. Your CDIA is linked to your CommSec Trading Account for settlement of your trades. You can access your account online through NetBank and CommSec. When you’re not using your cash for investments, it could be earning interest, calculated daily and paid monthly. There are no account keeping fees, and you’ll get unlimited free electronic transactions.
Benefits
Settle trades and enjoy low brokerage
Settle your share trades directly through your CDIA, and benefit from brokerage as low as $5.003 per trade.
Real-time banking
Transact on your CDIA in real time6 through NetBank, the Commonwealth Bank's market-leading online banking platform. Instantly transfer funds seamlessly between all your CBA accounts.
Maximise trading opportunities
We automatically recognise balances in your CDIA when you place an order, which means you can place a buy or sell order as soon as you see an opportunity, without the need to transfer funds or provide a deposit.
No monthly account-keeping fees
Pay no monthly account-keeping fees, and get unlimited electronic transactions plus two free assisted withdrawals per month.1 (Other fees may apply.)
Consolidate your dividends
Our free Dividend Direction service takes the hassle out of managing dividend payments. Just opt in online, and dividend payments will automatically be paid into your CDIA4 and start earning interest where applicable.
Global convenience
Get access to your cash where and how it suits you, with Australia's largest branch network, telephone and internet banking, and an optional CBA Debit MasterCard that you can use across the globe.
Rates and fees
Interest Rates - Accounts opened / migrated on or after 1 November 2012
Effective from 17 November 2023
Balance | Linked to CommSec Trading Account^ | SMSF* |
|---|---|---|
$500,000 or more | 3.20% p.a. | 3.20% p.a. |
$250,000 - $499,999 | 2.90% p.a. | 3.20% p.a. |
$100,000 - $249,999 | 2.60% p.a. | 3.20% p.a. |
$50,000 - $99,999 | 2.00% p.a. | 3.20% p.a. |
$20,000 - $49,999 | 1.50% p.a. | 3.20% p.a. |
$10,000 - $19,999 | 1.25% p.a. | 3.20% p.a. |
$5000 - $9,999 | 0.35% p.a. | 0.35% p.a. |
$0 - $4,999 | 0.35% p.a. | 0.35% p.a |
For interest rates applicable to the Standard Access CDIA, please refer to Interest Rates on Transaction, Savings and Investment Accounts ^Only available where: i) CDIA is originated through CommSec and linked to a CommSec Share Trading Account, or have requested to switch to this price option; and, ii) the Linked CommSec Share Trading Account is not suspended. *Only available for self-managed superfunds (SMSF) at account opening or if you have requested to switch to this price option for an eligible account type. | ||
Interest Rates - Accounts opened on or before 31 October 2012#
Effective from 16 June 2023
Balance | Accounts opened on or before 31 October 2012# |
|---|---|
$500,000 or more | 1.80% p.a. |
$250,000 - $499,999 | 1.80% p.a. |
$100,000 - $249,999 | 1.30% p.a. |
$50,000 - $99,999 | 1.30% p.a. |
$20,000 - $49,999 | 0.35% p.a. |
$10,000 - $19,999 | 0.35% p.a. |
$5,000 - $9,999 | 0.35% p.a. |
$0 - $4,999 | 0.00% p.a. |
# Interest rates for existing account holders only - no longer available for sale | |
Withdrawal Fees
For accounts opened / migrated on or after 1 November 2012: For accounts opened on or before 31 October 2012: please refer to your Offer Confirmation Letter (available on NetBank) or for Standard Access (CDIA) accounts, please refer to Rates and Fees.
Other Fees and Charges
For a complete list of potential fees and charges that may apply, please read the Transaction, Savings and Investment Terms and Conditions. Fees and rates are subject to change.
Who can apply?
You can apply for a CDIA if you are:
What you’ll need if you’re new to CommSec:
Get started
Open a CommSec Share Trading Account
Be up and running in as little as 5 minutes. Start by choosing one of the options below:
Already have a CommSec Share Trading Account?
Opening a Commonwealth Direct Investment Account couldn’t be easier. Login to CommSec below and follow the prompts to add a Commonwealth Direct Investment Account to your list of accounts.
Don't have a CommSec Share Trading Account?
Open a CommSec Share Trading Account and a Commonwealth Direct Investment Account together to settle your trades directly and enjoy low brokerage.
Frequently asked questions
How do I transfer funds into my CDIA?
You have several options to transfer funds into your Commonwealth Direct Investment Account (CDIA): Transfer from your linked Commonwealth Bank accounts For security reasons we may place a hold on funds transferred to or from your account: To transfer funds to your CDIA: From unlinked accounts Commonwealth Bank ATM Commonwealth Bank branch
You can transfer funds from your linked accounts to your CDIA in real-time using NetBank. Your linked Commonwealth Bank accounts are those you can see on the NetBank home page.
If you wish to transfer funds from someone else’s account, or transfer from your account at another financial institution, you will require your CDIA details including BSB and account number.
You can locate your CDIA details by logging into the CommSec website and navigating to the Portfolio tab. Your CDIA details can also be found on your NetBank home page.
You can transfer funds between your linked accounts by using any Commonwealth Bank ATM., You can also deposit cash and cheques directly to your CDIA at selected ATMs. Locate the Commonwealth Bank ATM nearest you.
You can deposit cash and cheques into your CDIA by visiting your nearest Commonwealth Bank branch. Locate the branch closest to you.
Is there a minimum balance on my CDIA?
There is no minimum balance on CDIAs.
How do I transfer funds from my CDIA to another account?
Will my CDIA appear in NetBank?
Yes. You can access your CDIA and make transactions in NetBank. Once you have logged in using your NetBank ID, you can also switch to CommSec and navigate easily between both sites. This means you can take advantage of investment opportunities as they arise and access your cash instantly to settle trades.
Can I have more than one CDIA?
While you can create multiple Commonwealth Direct Investment Accounts (CDIA) under your CommSec profile, CDIA accounts that are outside of the Target Market Determination (TMD) may be closed in accordance with the Transaction, Savings and Investment Accounts (TSIA) Terms and Conditions.
How do I change the transfer limit on my CDIA?
You can use NetBank to change your daily withdrawal limit. Please note that this change will apply to all your linked CBA accounts. Changes will take effect immediately and you will receive a bank message to confirm your daily withdrawal limit was updated successfully.
Are there any fees and charges for CDIAs?
There are no account-keeping or electronic transaction fees for CDIA. Online transfers, direct debits and withdrawals from Commonwealth Bank ATMs within Australia are also free. For a complete list of potential fees and charges that may apply, please read theTransaction, Savings and Investment Accounts Terms and Conditionsand the CBA Financial Services Guide. Rates and fees are subject to change.
Financial Services Guide TheFinancial Services Guide("FSG") provides information about Commonwealth Bank to help you decide whether to use the financial services we offer.
Download the Financial Services Guide
CommSec Document Download Acceptance
Before you obtain any products or services from CommSec, you must view the most recent Financial Services Guide (FSG).
By clicking YES below I am agreeing to be given the FSG and PDS electronically by downloading these documents from this website.
Note: If you would like to receive the CommSec Financial services Guide (FSG) and relevant Product Disclosure Statement (PDS) by mail please contact us on 13 15 19.
Transaction, Savings and Investment Accounts Terms and Conditions The CommBank Transaction, Savings and Investment Accounts T&Cs document outlines the CDIA for CommSec terms of use and has the complete fees and charges.
Target Market Determination The target market for this product can be found within the product's Target Market Determination.
Other forms and brochures Forall other forms and brochuresregarding other financial services we offer. If you are looking for administrative forms, please login and proceed to Help > Forms & Brochures.
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Important Information 1 Applies to CommSec Trading Account holders and CDIAs opened on or after 1 November 2012. For accounts opened on or before 31 October 2012 different rules apply. The target market for this product can be found within the product’s Target Market Determination, available here. The Commonwealth Direct Investment Account is issued by Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945. This product is administered by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia. You can view the CommBank Transaction Savings and Investment Account Terms and Conditions, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about these products and services.
2 Applies to CDIAs opened on or after 1 November 2012. For payment frequency on CDIAs opened on or prior to 31st October 2012, interest is calculated daily and paid quarterly.
3To be eligible for discount brokerage you are required to trade online, be CHESS sponsored and have your CDIA linked for settlement.
4There may be instances where some share registries do not reciprocate on this service
5You don’t have to provide your TFN to open the account, but if you don’t CommBank and CommSec are legally required to deduct tax from any interest earned on the account above a certain threshold.
6For security reasons we may place a hold on funds transferred to or from your account. For further information refer to the Electronic Banking Terms and Conditions.
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As a seasoned financial expert with a strong background in trading and investment, I can confidently provide insights into the concepts mentioned in the article about the Commonwealth Direct Investment Account (CDIA) and its integration with CommSec share trading. My extensive knowledge in finance and trading strategies allows me to dissect the information presented and explain the key concepts:
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Commonwealth Direct Investment Account (CDIA): The CDIA is highlighted as a preferred cash management account for CommSec share traders. It serves as a central hub for settling trades, managing cash, and earning interest. The CDIA is seamlessly linked to the CommSec Trading Account, providing a convenient and efficient platform for investors.
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Benefits of CDIA:
- Low Brokerage Costs: CDIA users can settle share trades directly through their account, enjoying low brokerage costs as low as $5.00 per trade.
- Real-time Banking: The integration with NetBank allows for real-time transactions, providing flexibility and quick access to funds.
- Maximizing Trading Opportunities: Balances in the CDIA are automatically recognized, enabling investors to seize trading opportunities without the need to transfer funds or provide a deposit.
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Tiered Interest Rates: CDIA users can earn tiered interest on the funds in their account, calculated daily and paid monthly. The interest rates vary based on the account balance, offering an additional incentive for holding cash in the account.
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Global Convenience: The article emphasizes the global accessibility of funds through the CDIA, with features like an optional Debit MasterCard for global cash access and the ability to transact at any Commonwealth Bank branch, ATM, or through phone and internet banking.
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Rates and Fees: The article provides detailed information on interest rates based on account balances for CDIAs opened or migrated after November 1, 2012, and for accounts opened before October 31, 2012. It also outlines withdrawal fees and mentions that CDIAs have no monthly account-keeping fees.
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How to Apply for CDIA: The eligibility criteria for applying for a CDIA are outlined, including age requirements and the necessity of having an Australian residential address. The documentation needed for the application is also specified.
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Frequently Asked Questions:
- Funds Transfer: The article explains how users can transfer funds into and out of their CDIA using various methods, including NetBank, linked Commonwealth Bank accounts, Commonwealth Bank ATMs, and branches.
- Minimum Balance: It clarifies that there is no minimum balance requirement for CDIAs.
- Multiple CDIA Accounts: While users can create multiple CDIA accounts under their CommSec profile, certain accounts outside the Target Market Determination may be subject to closure.
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Changing Transfer Limits: Users can adjust their daily withdrawal limit through NetBank, with additional security measures such as NetCode SMS.
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Fees and Charges: The article assures users that there are no account-keeping or electronic transaction fees for CDIAs. It also emphasizes the transparency of fees, subject to change and detailed in the Transaction, Savings, and Investment Accounts Terms and Conditions.
In summary, the Commonwealth Direct Investment Account, as presented in the article, serves as a comprehensive solution for managing cash, settling trades, and maximizing trading opportunities for CommSec share traders, offering a range of benefits and features with transparent rates and fees.
