The ICC has banned Steve Smith for the fourth Test of the South Africa tour after being charged with “conduct contrary to the spirit of the game”.
Smith was charged by ICC CEO David Richardson and given a one Test ban and fined 100% of his match fee.
He will have four demerit points on his record.
Bancroft has been fined 75% of his match fee and given three demerit points, but is clear to play the fourth Test.
Smith had already stood down from the captaincy, along with David Warner from the vice-captaincy.
In the meantime, Cricket Australia has launched their own internal investigation that will likely result in harsher punishment.
Tim Paine stood in as interim captain for the last day of the Cape Town Test, which Australia surrendered limply to lose by 322 runs.
The last Test in Johannesburg starts on Friday night Australian time.