How do I update my linked bank account for settlement?
You can update your linked bank account here, or by following the steps below:
- Log in to your CommSec account
- Navigate to Settings, then Service Centre
- Click on Change of Settlement Account
- Select the trading account you wish to update and follow the prompts
CommSec only supports the settlement of trades through a Commonwealth Direct Investment Account (CDIA) or other nominated Commonwealth bank accounts. Changing settlement accounts may alter brokerage rates.
What is a CDIA?
The Commonwealth Direct Investment Account (CDIA) is the cash management account for CommSec share traders. With a CDIA, you can:
- Access your cash from any CBA branch, ATM, or via phone and internet banking.
- Access brokerage from as low as $5.00* per trade on Australian share trades up to and including $1,000.
- Settle your trades automatically through your CDIA.**
- Pay no monthly account-keeping fees and get unlimited electronic transactions (Other fees may apply).
- Earn tiered interest on funds in your account.
- Use the optional Debit MasterCard to access your cash globally.
- Consolidate your dividends using our free Dividend Direction service. Just opt in online, and dividend payments will automatically be paid into your CDIA^ and start earning interest where applicable.
What happens next?
- It may take up to two business days for us to process your request
- You can check the status of your request by logging in to CommSec and heading to Settings, then, you can view your request under Status Centre
International Shares Accounts must be linked to a Commonwealth Direct Investment Account (CDIA).
How do I view my linked bank account?
To view and confirm your current linked bank account, follow the steps below:
- Log in to your CommSec account
- Navigate to Portfolio, then select Accounts
- Your linked bank account details can be found at the top of the page
If you change your bank details with us, the account you nominate must be registered using the exact same name as your Australian or International Shares Account. If your account is in a joint or company name, all account holders and listed directors will need to sign the form.
We're here to help
If you have any other needs, please call 13 15 19 (or +61 2 8397 1206 if calling from outside Australia), between 8am and 6pm, Monday to Friday (Sydney time).
Important information
*To be eligible for discount brokerage you are required to trade online, be CHESS sponsored and have your CDIA linked for settlement.
**The target market for this product can be found within the product’s Target Market Determination, available here.
^There may be instances where some share registries do not reciprocate on this service.
