Commonwealth lifts fees

Commonwealth Bank announced this week that it would be increasing its charges on withdrawals, both over the counter and through ATMs, and its monthly account keeping fee. It was, at the same time, reducing fees on EFTPOS transactions, ATM transfers and direct entry transactions.

The new fee structure, which takes effect from December 1, increases the fee on an over the counter withdrawal from $1.50 to $2.00, and an electronic withdrawal from an ATM from $0.45 to $0.60. The monthly account fee option rises from $2.00 to $3.00 per month. Fees on EFTPOS transactions, ATM transfers and direct entry transactions have been reduced to $0.40 from $0.45.

The Commonwealth Bank has continued to offer certain exemptions to children, students, war veteran and aged pensioners and people with disabilities.

Advertisement