The Commonwealth Bank has unveiled major changes to one of its main everyday account offerings, which will see customers charged $3 to withdraw their own money.

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.

  • dan@upvote.auEnglish
    6·
    2 days ago

    those done through an actual bank teller

    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.