{"id":154134,"date":"2024-12-03T11:44:39","date_gmt":"2024-12-03T01:44:39","guid":{"rendered":"https:\/\/www.vibewire.com.au\/?p=154134"},"modified":"2024-12-03T11:44:41","modified_gmt":"2024-12-03T01:44:41","slug":"commonwealth-bank-unveils-account-changes-that-will-charge-customers-3-withdrawal-fee","status":"publish","type":"post","link":"https:\/\/www.vibewire.com.au\/?p=154134","title":{"rendered":"Commonwealth Bank unveils account changes that will charge customers $3 ‘withdrawal fee’"},"content":{"rendered":"\n
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The incredible allowed gouging of Australian customers continues from banks with unheard up internationally fees being added to accounts. This is a slap in the face of every Australian CBA customer.<\/p>\n<\/blockquote>\n\n\n\n

The Commonwealth Bank has unveiled major changes to one of its main everyday account offerings that will see customers charged $3 to withdraw their own money.<\/p>\n\n\n\n

The changes will see Commonwealth Bank customers who have a “Complete Access” account moved to “Smart Access” accounts, starting from January 6, 2025.<\/p>\n\n\n\n

In a statement, the bank said the changes were “part of our commitment to provide the best available banking experiences”.<\/p>\n\n\n\n

“We’ve reviewed our everyday accounts offering and will be replacing Complete Access with our newer transaction account, Smart Access,” it said.<\/p>\n\n\n\n

The bank \u2014 which is Australia’s largest \u2014 says its “Smart Access” account is its most popular everyday account.<\/p>\n\n\n\n

The account boasts a $4 monthly fee that is waived if certain criteria are met, including a deposit of at least $2,000 per month.<\/p>\n\n\n\n

However, the account also includes an “assisted withdrawal fee”, where customers taking money out at bank branches, post offices or by phone are charged $3 per withdrawal.<\/p>\n\n\n\n

The withdrawal fee is only waived for customers who are under 18 or have an aged, disability or war veterans’ pension.<\/p>\n\n\n\n

Customers who currently have a “Complete Access” account are not charged a withdrawal fee, and pay a monthly $6 account fee that the bank waives if criteria are met.<\/p>\n\n\n\n

In outlining the changes on its website, the bank says there are three ways customers can avoid paying the $3 fee when withdrawing money:<\/p>\n\n\n\n