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Commonwealth Bank - No ATM Withdrawal Fees No Matter Who You Bank With

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Commonwealth Bank - No ATM Withdrawal Fees No Matter Who You Bank With
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LCheapskate Paul on 24/09/2017 - 03:31 commbank.com.au (7198 clicks)
Last edited 27/09/2017 - 11:19 by 5 other users

The Commonwealth Bank has announced that they are removing ATM withdrawal fees from 23/09/2017. Other banks are following suit. (note: please don't post any more new deals for fee-free ATM annoucements.)

I have an ING Orange account so never pay ATM fees anyway but I’m sure this will be welcome news for many.

Things you should know, Excludes Bankwest ATMs and international cards. You may be charged fees by your bank. Credit card cash advance fees continue to apply.

Update: Westpac, ANZ & NAB have also pledged to remove their ATM fees, but have not implemented yet!

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closed Comments

        • [Deactivated] on 24/09/2017 - 08:48

          @Scab:

          No eftpos machine? Fully sick maaaate!!

        • Scab on 24/09/2017 - 09:08
          +8

          @KaptnKaos:

          No, this guy's old skool, doesn't even wear deodorant.

        • xoom on 24/09/2017 - 09:16
          +2

          @Scab: deodorant? The smell of the kebabs is his deodorant.

        • Scab on 24/09/2017 - 09:23
          +2

          @xoom:

          His is more garlic sauce with tabouli.

        • slowmo on 25/09/2017 - 15:23
          -1

          missing out on points is only 'missing out' if the prices are same.

          cash is king because most times you can negotiate the price if paid with cash. The savings alone is worth more than the points you'll ever earn.

        • dealspider on 25/09/2017 - 16:28

          @Scab: hahaha… reminds me of this

    • TightAssDrake on 24/09/2017 - 06:58
      +8

      Cabramatta

      • 42 on 24/09/2017 - 07:47
        +1

        That's so 1990s

      • Enjj0y on 24/09/2017 - 08:42

        Auburn, Bankstown in nsw

    • Mr Frodo on 24/09/2017 - 07:11

      Can't pay for illegal drugs with cards yet!

      • krisspy on 24/09/2017 - 07:24
        +13

        Itunes cards. A man from the ATO called me and told me to pay for my tax using iTunes cards

        • xoom on 24/09/2017 - 08:14

          But its convenient that you can pay with itunes cards. You can get these everywhere.

        • dm01 on 24/09/2017 - 15:22

          You didn't offer to use Eneloops?

      • Scab on 24/09/2017 - 07:28
        +2

        Any decent dealer will accept the government cashless welfare card.

    • lostn on 24/09/2017 - 08:14

      Old people.

      • boomramada on 26/09/2017 - 08:54

        My oldies love pay pass , no need to remember or write down the pin number in a small book :)

    • kyle on 24/09/2017 - 08:35
      +1

      The casino is cash only.

      • boomramada on 26/09/2017 - 08:52

        You going to cas and you worried about your $2 fee? :)

    • chyawala on 24/09/2017 - 08:59
      +1

      You might use cash as a respectable way of directly paying a merchant to negate merchant fees especially where there's already a small profit margin. For example, your local computer store who already work so hard for a small margin on an Apple product. It may be as little as around 10%, and would be eroded a percentage of the entire amount if you paid by credit card, yet the bank may not deserve this chunk of your everyday transactions, nor the hard earned income of the merchants doing the real work.

      • Russ on 24/09/2017 - 11:06
        +2

        It all depends on how much cash business they do. If they get too much cash, they either have to deposit at a bank daily (consuming the time of an employee), or pay for an armoured truck to pick it up. If they have more than one employee, they also have to count the cash in the till to make sure nobody is pilfering. These things all cost money, either directly or indirectly.

        Best way is to ask if they prefer cash or card, and pay with whichever they prefer.

        Cash is definitely a negative if they have a run of customers buying less than $10 of goods, and offering $50 notes. That just depletes their reserves of change, and they'll have to make another visit to the bank, or borrow some change from other nearby retailers.

    • cminez on 24/09/2017 - 09:34

      Have you ever seen cash anyway?

    • RocketSwitch on 24/09/2017 - 13:07

      Laksa King.

    • PVA on 24/09/2017 - 16:27
      -1

      most people still.

    • MrZ on 25/09/2017 - 08:06
      -1

      How else are you meant to give someone money? Most people don't carry about personal EFTPOS machines.

      • Console on 25/09/2017 - 08:34
        +2

        You can send them money from your mobile phone!

        If you're with CBA, you can send it to someone by simply using their mobile phone number. If you're with another bank you may need to ask your friend their bank account number.

        Very easy and saves trying to find exact change, for example, after going out for lunch with colleagues when the restaurant won't accept split bills.

  • chumlee on 24/09/2017 - 06:58
    +16

    I doubt the money launderers mind paying a $2 fee to use CBA atm's

  • danielh on 24/09/2017 - 07:21
    +1

    FYI for those who didn't know. If you have one of those bank cards which have both an Amex and Visa/MC component, don't bother trying to withdraw cash using your Amex even though you think you linked your savings/cheque account to it. You will be charged the typical $2 fee. It only works with Visa/MC ATM cash withdrawals.
    I was running around to a bunch of ATMs a few months back and was annoyed that it would not give me my fee free withdrawals. I ended up going to a branch and the teller explained it to me.
    Hence not sure if a non-CBA Amex withdrawal against a savings type account will be fee free.

  • v8james on 24/09/2017 - 07:33
    +5

    To confirm, I used a CBA ATM with my ING card last night and was not charged a fee (nor did ING need to reimburse me).

  • morrisoc on 24/09/2017 - 07:37
    +5

    I am with the others here. You can imagine a fancy marketing company with their phycologists in toe advising that once all the retail signage promoting this in in place it will make people feel more connected to the brand. Commonwealth yellow ATM's will be a beacon of hope and restore CBA as the best value and most trustworthy banking brand in Australia. They will also now step up the onscreen marketing as you make a withdrawal plus the signage pushing homeloans and credit cards. Sorry existing customers but your not worth much to the bank, it's the new customers they care about.

    • thetownfool on 24/09/2017 - 10:43
      +1

      Not sure why marketing companies are hiring algae experts for advice. Perhaps on a societal scale we follow similar patterns….

    • [Deactivated] on 24/09/2017 - 11:30

      I once had a phycologist in my toe. A terrible thing!

  • [Deactivated] on 24/09/2017 - 07:47
    +3

    More reason for me to dump the Commonwealth Bank. Never chose to be a customer of theirs anyway; was forcibly transitioned to them by the now-defunct State Bank of NSW

    • carwashhair on 24/09/2017 - 08:31
      +11

      By staying with CBA you chose to be a customer, just like you're now potentially choosing not to be one. Inaction is still a form of action.

      • dm01 on 24/09/2017 - 15:27

        Good luck convincing your S.O. of that next time you're tired but they're randy…

  • zooter on 24/09/2017 - 07:47
    -1

    Will my bank (NAB) charge me fees for withdrawing from CBA? Can't find anything in the fee guide

    • wako on 24/09/2017 - 08:06
      +3

      No.. Nab charges no fees on every day account…

  • x2r9ypbj on 24/09/2017 - 07:54
    -3

    WHEN WILL THE ANZ FOLLOW SUIT

    • [Deactivated] on 24/09/2017 - 08:50
      +5

      Ask them.
      Then let us know.

    • BigLeviathan on 24/09/2017 - 09:40

      In donkey years….

    • jaimex2 on 24/09/2017 - 11:32
      +1

      Who cares, just switch to ING.

    • Aniseed Steed on 24/09/2017 - 13:24
      +1

      Westpac has just followed suit.

    • Easton on 24/09/2017 - 14:11
      +1

      ANZ has done so now: http://bit.ly/2wKxwUm

  • DEvok on 24/09/2017 - 08:05
    +1

    No fees, so what's the catch?

    • StingyBritches on 24/09/2017 - 14:07

      Gotta wonder if "avoiding an Royal Commission at all costs" is partially behind all this new-found largess by our banking buddies…

  • brongz on 24/09/2017 - 08:05
    +3

    Excludes BankWest ATM and intl cards

    • sween64 on 24/09/2017 - 09:00
      +1

      And BankWest ATMs are in lots of 7-Elevens, it would've been great to include them.

    • BigLeviathan on 24/09/2017 - 09:41
      +2

      That's odd, as a cba customer you can withdraw from Bankwest atms for free though…why not vice versa

      • tryagain on 24/09/2017 - 10:08
        +2

        Bankwest customers have been able to get free withdrawals from CBA tellers since CBA bought Bankwest. I suspect this deal won't apply to Bankwest ATMs as this is a CBA promotional exercise, not a Bankwest one.

        • dm01 on 24/09/2017 - 15:29

          Yes, Bankwest haven't been caught facilitating money laundering, so nothing to repent for.

  • inasero on 24/09/2017 - 08:12
    +1

    Excellent first post :)

    • Cheapskate Paul on 24/09/2017 - 09:48
      +4

      Thank you. I've benefited from so many OzBargain deals recently so I've been hoping that I'd get a chance to contribute.

  • paloverde88 on 24/09/2017 - 08:13
    +3

    Hopefully this philanthropy move will remove all the few thousands of money laundering charges they are facing and all the insurance they rejected for dying people who have paid premiums for years. All the non action they never took to encourage staff to give dodgy advise or making false income assets values on loan application and the list goes on. Now they want everyone to forget what they have done in the past but clap their hands and do a combayou. Deceitful.

    • chyawala on 24/09/2017 - 08:47
      +2

      Whoa, that's too big a word to use in the same sentence as the word bank.

    • mubd1234 on 24/09/2017 - 09:48
      +1

      A bank being deceitful? Surely you jest!

    • Diji1 on 24/09/2017 - 10:52

      It's great to know that as a result of the GFC in 2008 the Australian government guaranteed that the Commonwealth Bank would be rescued if it ever went out of business by, I don't know, laundering money for criminals say.

      It cannot go out of business even though it operates as a criminal dealing with more criminal funds than any crime group.

      The people you voted for did this. Are you going to vote for Liberal or Labour and continue to aid criminals at your own expense next election?

      • mubd1234 on 01/10/2017 - 14:39

        I thought the government guarantee didn't cover the banks themselves in the case they collapsed, they just covered the individual bank account holder's deposits up to $250,000 (which I'd assume would be paid out through some claims mechanism after the bank closed?)

  • paloverde88 on 24/09/2017 - 08:17
    +1

    Also businesses are still charging more than 1% if using visa and Mastercard debit despite it being illegal. $4 coffee with 40 cents extra charge for using your own money in debit cards.

    • Thatbargainhunter on 24/09/2017 - 08:31
      +2

      I am liking the trend if cafes moving to square payments as these cafes accept and don't charge extra for Amex.

    • Slippery Fish on 24/09/2017 - 08:43
      +1

      Lol your heads up your arse if you think 4cents covers your $4 transaction, it's why most places won't do under 5-$10. Our Suncorp one costs a AVG of 13 cents per transaction, and if it's under that $10 you get to pay 10 of that 13 cents.

      The anz use to charge 22cents before we switched, the banks do not charge 1% so why would anyone cover your costs for tiny transactions?

      • idonotknowwhy on 24/09/2017 - 15:12

        Meh, most of the cafe's I go to accept Amex with no surcharge for a $3.80 coffee.

    • Enjj0y on 24/09/2017 - 08:57
      +1

      I spoke to ACCC and they said business can set their own minimum EFTPOS value limit to take card & they can charge bank EFTPOS fee+any other charges associated with it and if they don't know exact charges they they can get idea from RBA & charge accordingly so don't expect EFTPOS charges anywhere less than 1%.

      • original15 on 24/09/2017 - 09:07

        Don't work for them or don't have one in my business so can't confirm, but pretty sure in the CBA t&cs businesses using their terminals are instructed not to set a minimum purchase amount. Takeaway joint up the street has a minimum of $40..smh

        • buckster on 24/09/2017 - 11:26
          -2

          Just order $30 worth, go in, tell them you don't have any cash, and they can let the food go to waste if they don't want to play ball?

        • Slippery Fish on 24/09/2017 - 19:32

          @buckster: it's your job to pay for it once you order it, it's fraud not too.

    • Diji1 on 24/09/2017 - 10:56

      Yet another reason to use cash.

  • [Deactivated] on 24/09/2017 - 08:48
    +2

    This is a good will gesture from a blood sucker after that money laundering charge & the class action the followed.

  • Trying2SaveABuck on 24/09/2017 - 08:56
    +2

    CBA = Vampires

    • chyawala on 24/09/2017 - 09:00

      You forgot a few.

  • vicsta on 24/09/2017 - 09:23
    +3

    Now there will be extra long lines at the commbank atms!!! nooo

  • hippyhippy on 24/09/2017 - 09:24

    This is awesome. Hopefully all banks follow suit. It's only in Australia that other banks charge fees for using others atms.

    • Cheapskate Paul on 24/09/2017 - 09:55
      +3

      I don't think that's correct. From my experience banks in the USA charge some pretty high fees, like $4 or $5. Malaysian banks also definitely charge.

    • illumination on 24/09/2017 - 11:09
      +2

      As Cheapskate Paul said, definitely not an "only in Australia" thing to be charged when using ATMs of another bank.

    • Aniseed Steed on 24/09/2017 - 13:25

      Westpac has just ditched ATM fees too.

  • peterpeterpumpkin on 24/09/2017 - 09:25
    +5

    …and they'll still charge their own customers a $4/month fee just to have an account?

    • miq on 24/09/2017 - 09:33
      -1

      uh… no?

    • sasangeleus on 24/09/2017 - 09:36

      Have $2k a month go into the account and it's free. So get your salary credited to it

  • customundo on 24/09/2017 - 09:26
    +2

    expect longer queues at CBA ATM's with the increase in traffic from other bank customers

  • chops on 24/09/2017 - 09:35

    Isnt this so they can keep laundering criminals cash, as long as it now ends up in another banks accout? ROFLOL

  • delfredo on 24/09/2017 - 09:38
    +1

    I wish it's no fee for all ATM transactions - not just withdrawal. Commbank has one of the best ATM for deposits especially coin deposits. I once brought a can of coins to ANZ branch over the counter and was told to manually separate the coins into bags. How 20th century is that.

    • Russ on 24/09/2017 - 11:18

      You can deposit coins into an ATM? Where?

      All the C'wealth ATMs near me only have a slot for notes.

      The ones that don't need envelopes say "Notes only. No coins, clips or rubber bands".

      • Cheapskate Paul on 24/09/2017 - 11:21
        +1

        I believe they're inside branches only.

      • ascorbic on 24/09/2017 - 13:25
        +2

        They're in some branches, usually in the 24-hour foyer area. Other banks like Westpac, NAB and Bank of Melbourne (but notably not ANZ) have similar machines.

    • delfredo on 24/09/2017 - 11:46
      +2

      Yes I’ve seen a few of them, outside the locked gates of the branch. Usually only one per branch. It’s a combined ATM for cash wothdrawal and cheque/cash/coin deposits.

  • Dont Care on 24/09/2017 - 09:43
    +3

    ING are great. not surprising other banks are perhaps trying to mimic. It's a farce that banks charge $2 to $4 in fees for a transaction which costs nothing.

    ING rebates all fees.

  • mt2000 on 24/09/2017 - 09:44
    -1

    isn't this already available at Australia Post all the time?

    • illumination on 24/09/2017 - 11:11
      +1

      Don't think I've ever heard of someone being able to withdraw money at Australia Post as being a significant advantage…

      • dm01 on 24/09/2017 - 15:35

        Just mind you don't trip over the sewing machines and discounted books on your way through.

  • OldBugger on 24/09/2017 - 09:47
    +4

    I just closed my transaction account I have had with them for the last 30 odd years due to the $4 account keeping fee. Funny how they kept withdrawing it even though I had no funds in there.

  • Maz78 on 24/09/2017 - 10:32
    +10

    Deal needs to be renamed as it feels a little misleading: "Commonwealth Bank - No ATM Withdrawal Fees No Matter Who You Bank With"

    Should be: "All NON CBA customers can use a CBA ATM with NO withdrawal fees".

    The way I read it initially was that all CBA customers can use ANY atm with no fees.

    • Homr on 24/09/2017 - 10:34
      +5

      ^^this, CBA customers like myself don't benefit from this at all :(

    • Cheapskate Paul on 24/09/2017 - 10:47

      The title is a direct lift from the bank's announcement. If you read it correctly it is hard to interpret it like you have. But I understand that people are time poor and don't have time to read things properly.

  • punk on 24/09/2017 - 10:34
    +1

    Commonwealth Bank should allow their customers to withdraw fee free from other banks too.

    This kind of move would see other banks seriously re-think their fee charge instead of having a particular card being fee free as a benefit.

  • KangaBanga on 24/09/2017 - 10:52

    Lol I am still getting a free 50c when I cash out $200 at woolies/coles. Usually do it five times for $2.50 and $1000 worth of yellow/green ones which will keep me going for a couple of months. With ING and cashout bonus, who needs ATMs.

    Maybe when comm bank or any of the other big four pays me $1 to do a cash out and have free ATM withdrawals and accounts, I'll open an account with them.

    • retiredfeline on 24/09/2017 - 11:43
      +3

      3% annual savings interest on $1000 is $2.50 a month, negating your cash out.

      • rogsamsy on 24/09/2017 - 12:51

        ING is a measly 2.8% and only on balances up 100K

        • retiredfeline on 24/09/2017 - 13:02

          You can transfer in from another bank. In any case there's no need to take out $1k in one day if it takes a month or two to spend.

        • illumination on 24/09/2017 - 15:58

          @greenpossum: at least if you can deposit it straight back in it'd be ok

  • tg on 24/09/2017 - 11:02
    +5

    3/8/2017
    http://www.huffingtonpost.com.au/2017/08/03/commonwealth-ban…
    AUSTRAC: "The effect of CommBank's conduct in this matter has exposed the Australian community to serious and ongoing financial crime"
    CBA Executives: "Oh no, we have been accused. What can we do to repair our reputation?"

    7/8/2017
    CBA Executives: "Let's cut our bonuses and director fees!"
    http://www.afr.com/brand/chanticleer/cbas-16m-bonus-cuts-jus…
    Cosumers: "Not happy. What benefit do I get???"

    24/8/2017
    CBA Executives: "Let's cut CBA ATM fees for non-CBA customers!"
    http://www.news.com.au/finance/money/budgeting/bank-customer…
    ANZ/Westpac/NAB Customers: "Happy"
    CBA/Bankwest/ING Customers: "What extra benefit do I get?"
    Doomsayers: "Yeepee! Both planet X and CBA ATM fees are gone!"

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