AusStudent

Planning Your Children’s education in Australia will require many preparations. On top of arranging for education, you will need to prepare easy and convenience banking services to help Your Children during their stay in Australia. The AusStudent Savings Account from Bank Commonwealth is ready to assist your financial transactions when Your Child studies in Australia. Enjoy various benefits for parent and children by opening an AusStudent Savings Account.

Enjoy a variety of benefits to the parent and child by opening an AusStudent Savings Account:

Benefits to the Parent

Easy
Flexibility to make banking transaction at Bank Commonwealth’s branches in Indonesia and through internet banking. How to transact click here

Safe
Fund for tuition fee and living cost during in Australia , can be transferred directly to Your Child’s savings account, after the savings account at Commonwealth Bank of Australia is activated.

Cost Saving

Free fund transfer fees to Your Child’s account at Commonwealth Bank of Australia’s *.
Free cash withdrawal fees when using Bank Commonwealth Debit Card Mastercard at any Commonwealth Bank’s ATM while in Australia .
Special AUD exchange rate for AusStudent Savings Account.
*Free fund transfers fees for SWIFT Cable Charge and Commission Fee through internet banking/ mobile banking,if the total average balance AusStudent Savings Account in the previous month is at minimum IDR10,000,000 and AUD1,000. Maximum free fund transfer fees are 3 (three) transactions per month, the fees will be credited in the following month.

Benefits to Children

Open a Commonwealth Bank of Australia savings account for Your Child prior arrival in Australia**.

Easy & Wide Access

Extensive and wide networks of Commonwealth Bank of Australia networks.
Internet banking and phone banking facilities of Commonwealth Bank of Australia.
Easy payment for tuition fee through Commonwealth Bank of Australia.

Easy steps to open an AusStudent Savings Account:

Prepare the required documents

Bagi Orang Tua

KTP (Resident’s ID Card) (Resident)
Passport/KIMS (Permit Card for Temporary Residence)/KITAS (Permit Card for Limited Stay) (non-resident)
Letter of acceptance/Student’s Visa/Student’s Card as supporting document

Bagi Anak

Passport
University’s letter of acceptance/Student’s Visa/Student’s Card

Open a Commonwealth Bank of Australia savings account for Your Child prior arrival in Australia**.
Upon arrival in Australia, Your Child can activate their savings account and enjoy the banking facilities available from the Commonwealth Bank of Australia.

**Savings account opening can be done within 14 (fourteen) days prior arrival or 3 (three) months after arrival in Australia and visit the nearest Commonwealth Bank of Australia office branch for savings account activation. Savings account activation is governed by Terms and Conditions of Commonwealth Bank of Australia.

Account details

Informations	Fees
Initial balance	IDR10,000,000 and AUD1,000
Monthly administration fee***	IDR5,000 and AUD0,5
Minimum average balance	IDR5,000,000 AUD500
Below minimum average balance fee	IDR50,000 AUD5
Stamp duty fee	In accordance with prevailing provisions. Not charged per account, but per the CIF
Account closure fee	IDR50,000 AND AUD8
Holding balance	IDR100,000 and AUD10

***Free monthly administration fee valid for Commonwealth Premier Banking Customer

Product Risks
Risks attached to AusStudent Savings Account are on fees and interest rates that subject to change and can be updated by Bank any time, any update will be informed through office branch, website or other media deemed appropriate by Bank.

Interest Calculation
The interest is calculated based on daily balance, in accordance with interest rate applied at Bank. The table of the interest is available

Product Validity
Product will be expired when Customer or Bank close the account.

Product Information Summary
Learn more about this product here.

AusStudent

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