this post was submitted on 03 Dec 2024
77 points (97.5% liked)

Australia

3648 readers
37 users here now

A place to discuss Australia and important Australian issues.

Before you post:

If you're posting anything related to:

If you're posting Australian News (not opinion or discussion pieces) post it to Australian News

Rules

This community is run under the rules of aussie.zone. In addition to those rules:

Banner Photo

Congratulations to @[email protected] who had the most upvoted submission to our banner photo competition

Recommended and Related Communities

Be sure to check out and subscribe to our related communities on aussie.zone:

Plus other communities for sport and major cities.

https://aussie.zone/communities

Moderation

Since Kbin doesn't show Lemmy Moderators, I'll list them here. Also note that Kbin does not distinguish moderator comments.

Additionally, we have our instance admins: @[email protected] and @[email protected]

founded 2 years ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
77
Commonwealth Bank to charge customers $3 'withdrawal fee' to access their own cash (www.abc.net.au)
submitted 2 weeks ago by [email protected] to c/[email protected]
17 comments fedilink hide all child comments
 

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.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 2 points 2 weeks ago (1 children)

Huh, my bank is free until IIRC you are 25. You get a simple account with a debit card and a simple savings account (pretty sure you can make however many accounts you feel like for free after that). You also get access to the instant money transfer tool that everyone in my country uses (no fees whatsoever to use it either)

[–] [email protected] 4 points 2 weeks ago (1 children)

Most banks in Australia are completely free too. It's only a couple of the biggest and shittiest banks (like Commbank) that have fees for regular use.

[–] [email protected] 1 points 2 weeks ago (1 children)

My bank is one of the biggest in my country. They charge a flat rate of like 10-20 € a year normally (+ some extra fees for specific stuff like paying in foreign currencies) which I think is pretty reasonable.

Are the smaller banks in Australia completely free for all ages and with no fees?

[–] [email protected] 1 points 2 weeks ago

Not no fees, but typically no fees for normal use. Most have international transaction fees. Some have fees for things like cheques (which are almost never used in Australia typically), either merely to have a cheque book or for expedited processing. Things like that. But it's quite rare to have a fee just to have your account; that's something mostly only the big 4 still do. They make enough profit off of loaning out your money for interest anyway.