Australia’s largest bank is copping backlash following revelations some customers will be charged a new fee for simply accessing their own money.
Commbank has announced that from January, people will be slugged $3 every time they want to withdraw cash at a branch, post office or over the phone.
It comes after the banking giant confirmed that it will be closing its Complete Access Account and moving customers to its Smart Access Account, which carries the fee.
The move has been slammed by many customers, who have described the new fee as “daylight robbery” and a “kick in the guts”.
The country’s financial services minister, Stephen Jones, has even called for the bank to “rethink” its decision.
“This is a kick in the guts for ordinary Australians and the worst Christmas present imaginable,” Minister Jones said.
“Commonwealth Bank has to rethink this terrible decision.
“This seems to me to be a tax on Australians who demand the right to use their cash, and the government won’t stand for it.”
Commonwealth Bank has defended the move, saying affected customers can still access free cash withdrawals from its ATMs.
