Commonwealth Bank Backs Down on Cash Withdrawal Fee After Political Pressure

The $3 fee applies to withdrawals at a bank branch, but not at the ATM.

People walk past a branch of the Commonwealth Bank in Melbourne, Australia, on Feb. 6, 2019. William West/AFP via Getty Images

After 24-hours of pressure from both sides of politics, the Commonwealth Bank (CBA) has decided to back down on introducing a $3.00 (US$1.95) withdrawal fee for cash.

The fee applies to withdrawals at the branch, through agencies such as Australia Post, and over the phone. However, it does not apply to cash withdrawals from ATMs.