December 3rd 2024.
Attention all Commonwealth Bank customers! We have some news for you. As part of our commitment to providing the best banking experience, we have decided to make some changes to our everyday accounts. Our largest bank in Australia will now be moving customers from our 'complete access' accounts to our newer and more advanced 'smart access' accounts. This new account comes with some exciting features such as BPAY, Apple Pay, and the ability to easily track bills through our app.
However, with these new changes, there is a small catch. Starting from January 6th next year, customers who wish to withdraw cash from a bank branch, post office, or over the phone will be charged a fee of $3 for each transaction. The only exception to this fee is for customers who are under the age of 18. We understand that this may come as a surprise to some of our customers, as they were previously able to withdraw money in-person for free. But don't worry, we have some ways to avoid this fee.
To avoid the $3 fee, customers can either withdraw cash at an ATM using their bank card or pay bills through bank transfer on our app. We want to make sure our customers have the best banking experience with us, and we believe that these changes will help us achieve that goal.
But wait, there's more! We have even more exciting news. Our popular everyday account, Smart Access, will now have a slightly smaller monthly fee of $4. This fee can also be waived if you deposit a minimum of $2000 per month or if you are under the age of 30. This is a great opportunity for our customers to upgrade their accounts and enjoy the new features that come with it.
We would like to inform our customers that Commonwealth Bank is not the only bank in Australia to start charging for in-person withdrawals. Last month, Bendigo Bank also introduced a $2.50 fee for staff-assisted withdrawals at bank branches. However, they have also removed their monthly $6 service fee for everyday accounts. In a statement to 9news.com.au, Bendigo Bank said that these changes will generally result in a reduction in fees for their customers.
But don't worry, we are here to help. Our staff members are always available to assist our customers and provide alternative options to avoid any increase in fees. We encourage our customers to speak with us if they have any concerns or questions about these changes.
We would also like to mention that ANZ charges between 80 cents to $2.50 for staff-assisted transactions, while Westpac and NAB also charge a $3 fee for in-person withdrawals at bank branches. We understand that these changes may affect our customers, but we want to assure you that we are doing our best to provide the best banking experience for you.
If you want to stay updated with all the latest news, sports, politics, and weather, make sure to download the 9news app. It is available on the Apple App Store and Google Play, and you can receive notifications straight to your smartphone. We always strive to be Australia's bank of choice, and we thank you for choosing Commonwealth Bank.
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