Bank says it is showing it is willing to listen and respond to feedback by dropping the unpopular feesThe Commonwealth Bank has become the first bank to axe $2 fees for customers from other institutions that withdraw money from its ATMs. Reserve Bank of Australia data shows Australians made more than 250 million ATM withdrawals from banks other than their own last year, earning the banks millions of dollars. Commonwealth Bank faces investigation from banking regulator Read moreMatt Comyn, the group executive of CommBank’s retail banking services, said Australians had complained for some time about being charged fees for using another bank’s ATM. The no ATM withdrawal fee access applies to the 3,400 CommBank-branded ATMs but excludes Bankwest ATMs and customers using overseas cards. The consumer group Choice has told News Corp the decision will put pressure on other banks to follow suit and drop the unpopular fees.

Source: The Guardian September 24, 2017 01:30 UTC