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Commonwealth Bank to charge customers $3 'withdrawal fee' to access their own cash (www.abc.net.au)

submitted 3 weeks ago by Nath@aussie.zone to c/australia@aussie.zone

17 comments fedilink hide all child comments

I hope this inspires a massive migration off CBA and a rollback of the policy. Because if it doesn't, the other banks will be sure to follow.

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[–] Zagorath@aussie.zone 4 points 3 weeks ago (1 children)

Most banks in Australia are completely free too. It's only a couple of the biggest and shittiest banks (like Commbank) that have fees for regular use.

[–] lud@lemm.ee 1 points 3 weeks ago (1 children)

My bank is one of the biggest in my country. They charge a flat rate of like 10-20 € a year normally (+ some extra fees for specific stuff like paying in foreign currencies) which I think is pretty reasonable.

Are the smaller banks in Australia completely free for all ages and with no fees?

[–] Zagorath@aussie.zone 1 points 3 weeks ago

Not no fees, but typically no fees for normal use. Most have international transaction fees. Some have fees for things like cheques (which are almost never used in Australia typically), either merely to have a cheque book or for expedited processing. Things like that. But it's quite rare to have a fee just to have your account; that's something mostly only the big 4 still do. They make enough profit off of loaning out your money for interest anyway.