Commonwealth Bank urged to rethink 'terrible decision' to charge cash withdrawal fee
www.abc.net.au
Some Commonwealth Bank customers who withdraw cash at branches or post offices will soon be charged $3 for the privilege, after the bank announced it was migrating a legacy everyday account to a newer offering.

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.

  • lud@lemm.eeEnglish
    2·
    6 months ago

    Huh, my bank is free until IIRC you are 25. You get a simple account with a debit card and a simple savings account (pretty sure you can make however many accounts you feel like for free after that). You also get access to the instant money transfer tool that everyone in my country uses (no fees whatsoever to use it either)

    • Zagorath@aussie.zoneEnglish
      4·
      6 months ago

      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.eeEnglish
        1·
        6 months ago

        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.zoneEnglish
          1·
          6 months 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.