Ally Langdon exposes major problem with Commonwealth Bank’s backflip – and why millions will still be charged for cash

Allison Langdon has hit out at Commonwealth Bank, revealing the bank is not completely eliminating the $3 withdrawal fee that already applies to hundreds of thousands of customers.

The A Current Affair host delivered the devastating takedown on Wednesday night after the bank announced they would be pausing fees.

The Commonwealth Bank initially planned to move customers from their Complete Access Account to a Smart Access Account and charge them a $3 fee from January 6 when withdrawing money from a branch, post office or their phone.

The bank revealed the change would be delayed by six months for customers who are ‘worse off with the new fee’ after an intense backlash.

But Langdon points out a major problem with the bank backflip.

‘Kudos to Commbank for listening, but it’s not eliminating the fee entirely, it’s just pausing the charges until another solution is found.

“How can a bank that raked in $9.8 billion last fiscal year justify charging customers to access their own money? That’s not possible,” she told her viewers.

‘Loyalty was once rewarded, but not anymore.

‘The damage that results from this only adds to the general distrust of the banks, and they have no one to blame but themselves.’

Yesterday, Daily Mail Australia revealed the Commonwealth Bank already charges millions of Australians to withdraw their own money over the counter – and this won’t change despite a backlash on fees for a small group.

According to the bank’s terms and conditions document dated November 24, the $3 fee for withdrawing money from a branch, post office or over the phone is already in effect for those who already have a Smart Access account and won’t be going anywhere.

Assisted withdrawal fees are waived for certain groups, including retirees, those under 18 and those who deposit $2,000 a month, but given that CommBank has around 12 million Australian customers, there are still a large number who would be willing to pay this fee .

It also does not apply to cash withdrawals at CommBank, although the bank has removed more than 1,000 of them from its network in recent years.

Langdon spoke to Angus Sullivan, CommBank’s director of retail banking services, about the withdrawal fees on Tuesday evening.

“It doesn’t sit well with struggling families as our banks make billions,” she said.

“What a way to say Merry Christmas and thank you for your loyalty.”

But Mr Sullivan hit back, saying the new fee was a ‘very modest cost’.

“The reality is that handling cash is expensive,” he said – despite the bank’s profits this year of almost $10 billion.

He also emphasized that the change was only “relevant to approximately 10 percent of CBA’s customer base.”

“And for our Complete Access customers, about 90 percent of them will be better off, or have a neutral outcome.”

Langdon lashed out at the director in response.

“I don’t know if the majority of Australians feel the same about their bank supporting them,” she said.

“You know what would be welcome? An interest rate cut. That would take you off the naughty list.”

Mr. Sullivan laughed off the suggestion.

“It’s not in my authority to allow that to happen,” he said.

‘But I appreciate that customers are having a hard time at the moment. I certainly hope that we can explain these changes in a way that gives our customers the feeling that we have them in mind.”

Viewers were outraged to see Mr Sullivan claim the fee was necessary for the Commonwealth Bank’s operations.

“What a pathetic response…just be honest and honest. It’s about the profit,” said one.

“I’m closing my 35 year old account with you tomorrow and withdrawing the $365,000 in cash,” another wrote.

The Albanian government had also spoken out on the matter, denouncing the bank’s decision to introduce the fee.

“It doesn’t seem fair or appropriate and this is a huge bank making huge profits. Come on, guys,” Housing Minister Clare O’Neil told Sunrise.

‘It’s Christmas. We don’t need this now. This is not something the bank should be doing and we ask them to reconsider.”

Queensland National MP Bob Katter also spoke out about the compensation.

He called it an “act of defiance and contempt for the people of Australia” in an interview with Channel 10’s The Project.

Mr. Sullivan said in a statement on Wednesday that the change was “poorly communicated” to the bank’s customers.

“The changes taking place are such that the approximately 90 percent of customers we plan to move, and who we expect will be better off or the same, will be moved to the lower monthly cost account.” , he said.

‘If those customers do not want to move, they can contact us to discuss the options. For the remaining customers, we are changing our approach and pausing the migration. Instead, we will contact these customers over the next six months to communicate about suitable product options.

“The changes outlined above will not impact the approximately nine million CommBank customers who do not use the Complete Access product.

‘Commonwealth Bank maintains the largest branch network. All our branches have free ATMs and we have a moratorium on the closure of regional branches until at least the end of 2026.”