Trying to cancel Commonwealth Bank? Avoid the runaround.
Can you cancel your Commonwealth Bank subscription? Check eligibility and conditions
You can cancel most CommBank services at any time – here’s the breakdown:
- Bank accounts: Close any time once the balance is $0 and no pending payments remain. Joint accounts need all account holders to agree.
- Credit cards: Must be fully paid off before closure. No refund on annual fees. Cancel unused rewards before closing.
- Personal loans: Can be closed after payout. Variable loans = no fee. Fixed loans = may trigger Early Repayment Adjustment (ERA).
- Home loans: Requires formal discharge and may involve break costs on fixed loans + $350 discharge admin fee.
- Insurance: Cancel any time. Full refund within 21-day cooling-off period. After that, pro-rata refund applies. No refund if claim paid.
How to cancel a Commonwealth Bank subscription, service or order
Here’s how to cancel by service:
- Accounts: Use the CommBank app (type “close account” in chat with Ceba), call 13 2221, or visit a branch.
- Credit Cards: Use NetBank/App → “Manage Account” → “Close credit card”. Or call 13 2221. Ensure $0 balance.
- Personal Loans: Call 13 2224 for payout figure, repay in full, confirm closure once balance is $0.
- Home Loans: Submit Discharge Authority form, schedule settlement, pay out loan. Break costs may apply.
- Insurance: Call the relevant support line (e.g. 13 2423 for home/car). Request email confirmation and check refund terms.
Before cancelling, stop auto-payments, download any statements, and redeem rewards.
How long does a Commonwealth Bank cancellation take?
- Bank accounts: Usually close instantly once eligible. Plan around interest credit if closing savings account.
- Credit cards: Immediate request, but final closure may take a billing cycle (check again after next statement).
- Personal loans: Closure happens a few days after payment clears. Payout figure is only valid for a short window.
- Home loans: Allow 2–3 weeks from Discharge Authority form submission.
- Insurance: Takes effect immediately or on specified future date. Refunds processed in 5–15 business days.
To avoid extra charges, cancel before your next billing cycle or fee date.
Commonwealth Bank cancellation fees and final charges – what to expect
- Accounts: No closure fee. But monthly fees for the current month are not refunded.
- Credit Cards: No cancellation fee, but annual fees are non-refundable. Ensure no trailing interest or pending charges.
- Personal Loans:
- Variable = no fee
- Fixed = possible ERA (break cost)
- Variable = no fee
- Home Loans:
- $350 discharge fee
- Break costs if ending fixed term early
- Insurance:
- No “cancellation fee”
- Pro-rata refunds minus $30 admin fee (for general insurance)
- No “cancellation fee”
Ask CommBank to confirm any fees before you cancel – especially on fixed loans or annual policies.
Commonwealth Bank cases submitted through Ajust
When Commonwealth Bank closed my account, I was left waiting for over $13,000 that had not been returned. On top of that, I was already struggling after losing a much larger sum to fraud. The delay in accessing my own money has caused enormous stress and left my family in a difficult position. - Janicalee
My rental direct debit was cancelled without any warning, and I felt completely blindsided. Losing that security not only put me under huge pressure but also made me question whether the bank cared about its duty of care. It felt like I was treated as the problem instead of a customer needing support. - Christopher
After nearly a century of banking with Commonwealth Bank, our lodge was given just 30 days’ notice that our accounts would be closed. We were given no clear reason and faced the possibility of losing access to millions of dollars held in trust for our members. It was devastating to be treated with such disregard. - David
I found out my account had been closed without any notice, and I wasn’t given the refund I was owed. It left me feeling powerless and unsure of how to recover money that was rightfully mine. The lack of communication only made the situation more frustrating. - Zaakiyah
Consumer experiences with Commonwealth Bank cancellations
✅ Smooth via App: “I messaged Ceba and closed my account in 5 minutes.”
❌ Unexplained closures: Some users reported CommBank closed their accounts without warning – always follow up if notified.
⚠️ Credit card confusion: One user thought their card was closed, but an annual fee posted months later. Always request written confirmation and recheck after a billing cycle.
Commonwealth Bank Cancellation FAQs
Can I cancel my Commonwealth Bank account or service anytime?
Yes, most Commonwealth Bank services can be cancelled anytime if eligibility conditions are met. Accounts must have a $0 balance, and loans or credit cards must be fully paid. Always check for pending payments, interest, or fees before closing to avoid delays or unexpected charges.
How long does it take to cancel a Commonwealth Bank product?
The cancellation timeframe varies by product. Bank accounts close instantly, credit cards may take a billing cycle, and home loans require 2-3 weeks. Insurance policies can cancel immediately, with refunds processed in 5-15 business days.
Are there fees for cancelling a Commonwealth Bank loan or service?
Some services involve fees. Home loans incur a $350 discharge fee and possible break costs on fixed terms, while insurance may deduct a $30 admin fee from refunds. Credit card annual fees are non-refundable.
What steps should I take before cancelling my CommBank service?
Before cancelling, stop automatic payments, redeem rewards, and download past statements. For loans, request a payout figure, and for credit cards, ensure the balance is cleared. Always request written confirmation to avoid surprise fees later.
Tried to cancel but Commonwealth Bank made it difficult?
We’ll help you submit a formal cancellation they can’t ignore.