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Business / Bank accounts / Society Cheque Account

Features & benefits

Save on fees

With no over-the-counter or electronic transactions fees1 or monthly account fees - so you can direct more funds to what matters most.

Sync with accounting software

Save time by integrating your accounting software, like Xero, MYOB, QuickBooks or Wiise with your account.

Link a Business Visa Debit Card

Manage expenses and get payment flexibility with a Business Visa Debit Card. Plus, lock your card if you need to, for extra control. 

Manage your account easily

Bank online with NetBank, the CommBank app and CommBiz, plus over the phone or in branch. Or use our deposit ATMs for cash, cheques and coins.

Rates & fees

  • See our CommBank Business Transaction & Savings Accounts Terms and Conditions for full details. 

    Note - Society Cheque Account doesn't have credit interest. 

  • $0

    Account or transaction fees.1 

    • Free unlimited electronic transactions and cash withdrawals.
    • Free cheque transactions and assisted transactions in branch (such as deposits and withdrawals). 

     

Eligibility

To be eligible for a Society Cheque Account, you must be a not-for-profit organisation or association, or an organisation that operates for the benefit of the wider community. An organisation can meet the requirements of being a not-for profit by having particular statements (clauses) in its covering document and following them.

For example:

  • The not-for-profit clause
  • The dissolution clause
  • The deductible gift recipient (DGR revocation clause)

 

Here are some examples.

Organisations:

  • Government and non-government schools
  • School parents and friends (citizens) organisations
  • School canteen and EFT accounts
  • Other educational institutions e.g. university or TAFE
  • Pre-school children groups
  • School cadet units
  • Churches and other religious institutions
  • Hospitals and nursing homes

Community organisations

  • Boys brigade and scout groups
  • Girl guide groups
  • Apex
  • Country Womens' Association (CWA)
  • Land care groups
  • Local surf lifesaving associations
  • Local community marching bands
  • Lions Clubs
  • Masonic lodges
  • Neighbourhood Watch and Safety Houses
  • Probus Clubs
  • Rotary Clubs
  • Toastmasters
  • Local State Emergency Services e.g. fire brigades and ambulance services
  • Community halls and art councils

Welfare and charity organisations

  • Legacy and other veterans support groups
  • Red Cross
  • Salvation Army
  • St Vincent de Paul
  • Aboriginal support groups
  • Organisations supporting deaf, blind or other disability groups
  • Organisations supporting people with drug or alcoholic dependencies
  • Organisations researching health problems or supporting people with diseases and illnesses
  • Amateur sporting, bushwalking and pony clubs that don't have a liquor or poker machine licence

If your organisation doesn't appear in this list, you may still be eligible. Visit us at any CommBank branch to confirm.

 

Ineligible organisations

  • Australian Defence Force groups
  • Body corporate or strata plan accounts
  • Branches of political parties
  • Unions
  • Deceased estate accounts
  • Lobby groups
  • Old boy or girl reunion accounts
  • RSL, bowling, golf and other clubs with a liquor licence or poker machine licence
  • Social function, lottery, lotto, and football tipping accounts
  • Superannuation funds
  • Tennis and squash court businesses

If your organisation is ineligible, check out our Business Transaction Account instead.

What documents will you need?

Bringing the right documents to your local branch will help us process your Society Cheque Account application as quickly as possible. 

Documents to bring

  • The association's constitution or rules
  • The association's full name and any unique registration documents e.g. a Certificate of Incorporation or ACNC Registration Certificate
  • Minutes of meeting from within the past 6 months authorising the opening of a new bank account with details of the individuals authorised to open the account
  • Details of at least two organisation office holders (full name, residential address and date of birth)

Who needs to visit a branch?

  • Two office holders including the chairperson, treasurer or public officer
  • Account signatories and beneficial owners (controlling person)2 new to CommBank

Documents to bring

  • Full signed trust deed or pages with the names of the trust, trustees, beneficiaries and settlors present
  • ATO taxation notice issued in the past 12 months, which includes the trust name 
  • Beneficial owners (controlling person)2 and account signatories may also need to bring personal identification for an ID check

Who needs to visit a branch?

  • Trustees
  • Account signatories and beneficial owners (controlling person)2 new to CommBank

Documents to bring

  • The co-operative's full name and registration number, issued by the relevant registration body
  • Minutes of meeting from within the past 6 months authorising the opening of the new bank account with the full name, address and date of birth details of the individuals authorised to open the account 
  • Beneficial owners (controlling person)2 and account signatories may also need to bring personal identification for an ID check

Who needs to visit a branch?

  • A director and your organisation's company secretary (or equivalent officer)
  • Account signatories and beneficial owners (controlling person)2 (new to CommBank)

Documents to bring

  • Australian Company Number (ACN)
  • Certificate of Registration with full address of the principal place of operation and the names of all directors
  • Minutes of meeting from the past 6 months authorising the opening of the new bank account with the full name, address and date of birth details of the individuals authorised to open the account

Who needs to visit a branch?

  • Two directors or a director (if a sole director company)
  • Account signatories and beneficial owners (controlling person)2 (new to CommBank)

Ready to apply? 

  • Visit us in any branch and bring:

    Once you've prepared your documents and visited us in branch, we'll confirm your details and open your account. 

    Book appointment

Get to know not-for-profit banking

Not-for-profit organisations are the backbone of our nation. Our goal is to give you the best banking experience so you can deliver maximum benefits for your cause. 

Our specialised not-for-profit bankers are focused on providing the support and services you need. You’ll also have access to Australia’s largest branch network and a 24/7 Australian-based virtual Business Service Centre.

See how we can support

FAQs

Not-for-profits are organisations that provide services to benefit the community and do not operate to make a profit. Some examples include charities, sports clubs and educational institutions.   

If you're a not-for-profit organisation or association, or an organisation that operates to benefit the wider community, a Society Cheque Account may be right for you. Check the examples of eligible and ineligible organisations, speak to your Relationship Manager or visit us in any branch to find out more.

If you’re not eligible for a Society Cheque Account, we have a range of other business accounts to suit your needs.

  • Bank online using NetBank, the CommBank app and CommBiz, and receive money instantly with PayID
  • Link with a Business Visa Debit Card to pay for day-to-day items
  • Integrate with a merchant terminal or take payments online through your eCommerce platform 
  • You can also link your Business Online Saver account, Term Deposit or Cash Deposit Account

Talk to your Relationship Manager or visit us in any branch to learn more.

No, unfortunately. You can, however, book an appointment at your nearest branch to apply.

The documents you'll need to bring will depend on your organisation's structure. Check the different types of organisations and required documents. 

There may be fees for use of non-Commonwealth Bank ATMs in Australia and all ATMs overseas, EFTPOS transactions overseas, transfer group payments to third parties, international money transfers, CommBiz and NetBank service fees and separate services such as bank cheques, periodic payments and transfers/deposits to other banks. Overdraw and dishonour fees may also apply - see our Business Transaction Account terms and conditions for details. 

Ready to open an account?

Book an appointment

Things you should know

  • 1Excludes non-Commonwealth Bank ATMs here and all ATMs overseas, EFTPOS transactions overseas, transfer group payments to third parties, international money transfers, CommBiz and NetBank service fees and separate services such as bank cheques, periodic payments and transfers/deposits to other banks. Wholesale relationship managed customers may be notified at any time that their account is subject to transaction fees on electronic transactions and Commonwealth ATM cash withdrawals.

    2A beneficial owner (controlling person) owns 25% or more in company shares or is responsible for the strategic or financial decisions because of their position held. For example, a CEO.

    The target market for these products will be found within the product’s Target Market Determination, available here.

    View CommBank Business Transaction & Savings Accounts Terms and Conditions [PDF 396kb] and our Financial Services Guide [PDF 59kb] and consider them before making any decision about these products. This advice has been prepared without considering your objectives, financial situation or needs. Before acting on the advice, please consider if it’s right for you. Bank fees and charges may apply.

    Commonwealth Bank of Australia ABN 48 123 123 124 issues all products on this webpage.

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