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

Allison Langdon has unleashed at the Commonwealth Bank, revealing that the bank is not fully eliminating the $3 withdrawal fee, which already applies to potentially millions of customers.

The A Current Affair host delivered the withering takedown on Wednesday night hours after the bank announced it would hit ‘pause’ on the fees.

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

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

But Langdon highlighted a major problem with the bank’s backflip.

‘Now kudos to Commbank for listening, however, it’s not scrapping the fee altogether, it’s just pausing the charges until it figures out another solution.

According to the bank’s terms and conditions, the $3 fee for taking cash out from a branch, post office or over the phone is already in place for those already on the Smart Access account and won’t be going anywhere.

Daily Mail Australia estimates millions of Australians have a ‘Smart Access’ account.

‘How can a bank that raked in $9.8billion last financial year justify charging customers to access their own money? It can’t,’ she told her viewers.

‘Once upon a time loyalty was rewarded, not anymore.

‘The damage from this just adds to the overall mistrust of banks and they have no-one to blame but themselves.’

Langdon grilled CommBank group executive of retail banking services Angus Sullivan about the withdrawal fee on Tuesday night.

‘It doesn’t sit well with families who are struggling 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 arguing the new fee was a ‘very modest cost’.

‘The reality is that handling cash is expensive,’ he said – despite the bank’s almost $10billion profit this year.

He also insisted that the change was only ‘relevant to about 10 per cent of CBA’s customer base’.

‘And for our Complete Access customers, approximately 90 per cent of them will be either better off, or have a neutral outcome.’

Langdon lashed out at the executive in response. 

‘I don’t know if the majority of Australians feel the same way that their bank is supporting them,’ she said.

‘You know what would be welcomed? An interest rate cut. That would get you off the naughty list.’

Mr Sullivan laughed off the suggestion.

‘That’s not in my purview to make happen,’ he said.

‘But I appreciate customers are doing it tough at the moment. I certainly hope that we can explain these changes in a way that makes our customers feel that we have put them in our mind.’

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

‘What a pathetic response … just be upfront and honest. It’s about profits,’ one said. 

‘I will be closing my 35 year account with you tomorrow and withdrawing the $365,000 in cash,’ another wrote. 

The Albanese government had also weighed in on the matter slamming the decision by the bank 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 right now. This is not something the bank should be doing and we’re asking them to reconsider.’

Rural Queensland MP Bob Katter also spoke out about the fee.

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 in a statement on Wednesday the change had been ‘poorly communicated’ with the bank’s customers. 

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

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

‘The changes outlined above do not affect approximately nine-million CommBank customers who are not on the Complete Access product.

‘Commonwealth Bank maintains the largest branch network. Each of our branches has fee free ATMs and we have a moratorium on regional branch closures until at least the end of 2026.’.

The assisted withdrawal fee is waived for certain groups including pensioners, those under 18 and those who deposit $2,000 a month but with CommBank having roughly 12million Australian customers, there is still a large number who would attract the fee.

It also does not apply to CommBank ATM withdrawals, though the bank has removed more than 1,000 of these from their network in recent years.