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Home / News / CBA fees increase

CBA fees increase

14/09/2000

From November 1, the Commonwealth Bank will increase its fee charges for over-the-counter transactions. Cash withdrawals made at CBA branches, agencies and giroPost will rise from $2 to $3. Cheque clearing fees will increase to $1 from 65 cents. Credit card holders who are members of the True Awards incentive scheme will pay a new $45 annual fee instead of the usual $24. Additionally, a new $3 fee will be introduced for telephone banking withdrawals made with the assistance of an operator and for personal account cheques that are cashed over the counter at a CBA branch. However, ATM and internet withdrawals will not be affected by the new fee increases. The CBA says the reason for the price hike is the higher cost incurred by the bank for traditional face to face banking. CBA also ensured that rebates for over-the-counter fees were available for students, pensioners and disabled customers.



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