Australia's Biggest Bank Just Introduced Cash Withdrawal Fees

Commonwealth Bank has angered customers after unveiling plans to charge customers a cash withdrawal fee from next year.

Independent MP Bob Katter tells us if cash is still king.

#CommonwealthBank #Banks #Cash

[maryanntime]

What the heck is wrong is the government allowing this to happen, the less cash the more the government
can control money, what if the internet crash, you cannot used your card or phone.

[murielwhite]

A few months ago I was at a big city hospital in Perth and I went to Subway to buy my lunch. The staff said, sorry can't serve you at the moment because the system was down and so all these people were turned away unhappy. I said to the staff member, "No problems I have cash" and she looked surprised but I got my lunch whereas the others did not. Cash is still king and there are many reasons to keep it despite what people say.

[Rette-xr]

cash sure comes in handy when there is floods and blackouts the card is useless

[karenwilson]

I was asked a few times what I was going to spend the money on. My reply was 'that is my business, not yours.'

[arclux]

Ramping up the pressure to get people to abandon the freedom of using cash.

[vernlindbergs]

If banks want to charge withdrawal then they should pay decent interest on all accounts. They make huge profits so they don't need to charge for withdrawal.

[TheRoark]

The government forces your money to go straight from your employer to the bank, then the bank charges you to get it back...

[paulinecastle]

And the bank charges us to use the cards anyway. It’s a cash grab

[ulrikezachmann]

One of the problems with just useing cards is it is not worth it to buy single items like a loaf of bread or milk. You get charged anyway every time you pay with a card. When we have power outages or IT outages then no one can buy anything. Everything just shuts down.

[NinjaKuma]

Time to bank with someone else.

They just want you to use cards so they get a transaction fee.

[aylanash]

Guess I’m closing my account I encourage others to join

[Kevin-vk]

The World economic forum in full swing

[mariagrant]

People need to be able to keep some cash for those times the internet fails.

[drcolster]

CASH DISAPPEARS/FREEDOM DISAPPEARS !!!

[duncsnat]

It will start with 3 dollars.Then it will go with a percentage of what you withdraw.

[catdog]

This is absolutely disgusting by banks

[shantishanti]

Disgusting absolutely disgusting by Commonwealth Bank Bendigo and the others.
PEOPLE if you want to keep cash around - KEEP BANK TELLING JOBS AND ARMAGUARD JOBS - then USE CASH, get cash, and never NEVER give it up. Remember when the banking phone APP or IB you use is offline WHAT DO YOU DO ??

[gabriellejudd]

Resist these greedy corporations..They are making overnight interest on all your money already when they do major investments often in dodgy Companies & Institutions.

[jzpsquall]

This is way too much greedy!!! Adios commonwealth bank !!

[sallie]

HOW RUDE...why the hell are people letting banks control their money? stop using banks!!! This will make people take ALL their money out if a fee is introduced! How do people live in bushfire zones, flood zones etc? we should have a choice! what's going to happen to the Mint? will people no longer collect coins?