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CommBank: refund unfair fees now

To CommBank CEO Matt Comyn: 

 

I call on you to immediately return the $270 million in unfair fees you charged low-income customers who were eligible for low-fee accounts.

 

Sign the petition below:

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CommBank CAN refund the $270 million it charged low-income customers

CommBank has been caught charging excessive fees to millions of people on low incomes who were eligible for low-fee accounts – to the tune of approximately $270 million. 

CommBank isn’t the only bank that has been caught out engaging in this egregious behaviour by ASIC. While other major banks have committed to refund some customers, CommBank is refusing. 

This is absolutely appalling behaviour from a massive Australian corporation – gouging the people who can least afford it. These fees eat away at people's ability to pay for for essentials like food and rent. Meanwhile, CommBank enjoys multi-billion dollar profits. Unfair doesn’t even begin to describe it. 

Together, let’s make our voices heard loud and clear that thousands of people are demanding CommBank return the $270 million it charged thousands of low-income customers. Sign the petition now.

FAQs

ASIC, the financial services regulator, recently released reports detailing the extent of major Australian banks charging high fees to people living on low incomes – the people who can least afford to line banks' pockets. Despite being eligible for low-fee accounts due to receving government payments, banks kept them in high-fee accounts, typically requiring customers to opt-in to avoid fees and some requiring proof of concession cards, instead of using transaction data to proactively identify low-income customers. These fees disproportionately impact vulnerable people, including those living with disabilities and First Nations consumers. The Commonwealth Bank of Australia (CBA) provided data that between July 2019 and October 2024, it charged approximately $270 million in fees (including account-keeping, dishonour and overdraw fees) to about 2.2 million low-income customers. While other banks have committed to refund some customers, CBA is refusing. CBA has only refunded a smaller group of customers, including those in areas with significant First Nations populations and those receiving ABSTUDY payments ($25 million to 90,000 accounts).

You may have been charged unfair fees if you had an account with Commonwealth Bank of Australia (CBA, CommBank) or BankWest between July 2019 and October 2024, received government payments (e.g Age Pension, JobSeeker etc.) and were eligible for a government concession card (Commonwealth Seniors Health Card, Health Care Card or Pensioner Concession Card). You may have been charged fees, such as dishonour fees, overdraw fees or account-keeping fees. If you think you might have been affected, share your story with us via [email protected].
Signing this petition will help keep public pressure on CommBank to do the right thing and refund the money. If you're a CommBank customer, you may also wish to write a message on social media (on your own accounts, or CommBank's – remembering to keep it respectful), share this petition with your friends (www.choice.com.au/CommBankFees), or share your story with us about the impact of being charged excessive bank fees by emailing us at [email protected].
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