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.
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.
Damn. You beat me to it by literally 13 seconds
I added a note to the end of my post that this applies specifically to “assisted withdrawals”, ie those done through an actual bank teller and not an ATM. Also post offices, but not cashout through a supermarket
Even if it is only under certain circumstances, charging customers to access money is appalling behaviour. Once upon a time, banks paid us to keep our money in their establishment. Now that our society has evolved to the point where we literally can’t function without a bank account somewhere, the banks treat us like they don’t need us.
That’s the only type of cash withdrawal I do these days though. I’ve been living in the USA for a while but it was the same for me when I lived in Australia too. I can’t be the only one?
I don’t use cash day-to-day. When buying stuff at a store, I tap my watch or card to pay. For sending money to other people, I use Zelle, which is embedded in the apps and sites of all major US banks (roughly equivalent to PayID). Even the small vendors at farmers markets where I live usually accept card, Zelle, Venmo or PayPal.
For getting cash while overseas in countries where they’re not as big on credit/debit cards, I have a Wise multi-currency account and use its debit card at a local ATM. Way better rates than exchanging cash.
If I want cash, it’s usually because I want money for tips when travelling, and in that case I want smaller denominations ($1, $5, $10) so I go to the bank to get them. The ATMs only have $20s and $50s.