LABOR’S ROYAL COMMISSION CALLS LEAD TO BETTER DEAL FOR BANK CUSTOMERS

Labor welcomes the Commonwealth Bank's decision to abolish ATM withdrawal fees and strongly urges other banks to follow suit as a matter of urgency.

 

The $2 fee to use another bank's ATM has been enjoyed by the banks for too long at the expense of consumers.

 

This fee has been unfairly chipping away at people's savings little by little for years and today's decision has shown that the game is finally up.

 

There is no doubting that Labor's calls for a Royal Commission has led to this decision being made by the Commonwealth Bank today.

 

This is yet another reminder to Malcolm Turnbull and Scott Morrison that they need to abandon their defence of the big banks and take up the side of consumers by establishing a Royal Commission.

 

There hasn't even been a Banking Royal Commission and we are already seeing the pressure of it, by seeing the ATM fees removed.

 

Imagine how we could get better banking for all Australians if we had a Banking Royal Commission.