New nationally representative polling from CHOICE has found 88% of people think the Commonwealth Bank should refund fees it charged to low-income customers who were eligible for low or no fee accounts.
Between 2019 and 2024, the Commonwealth Bank charged $270 million in account keeping and overdraw fees from people on low incomes. In July, the corporate regulator, the Australian Securities and Investments Commission (ASIC) called on CBA to follow other major banks who have moved to refund the cohort of eligible customers.
83% of people also agreed customers who are eligible for no fee or low fee accounts should be automatically switched into them by their bank.
Quotes attributable to Morgan Campbell, CHOICE Head of Policy:
"Australians know bad bank behaviour when they see it. CommBank wasn't the only big bank keeping people in accounts they shouldn't have been in, but they're the only ones who have point blank refused to put it right."
"These were unfair fees, they should never have been charged. CommBank needs to do the decent thing and refund them. By continuing to dig in, they're thumbing their nose at ASIC, their customers, and public opinion."
"Over 21,000 people have already signed the petition calling on CommBank CEO Matt Comyn to return the money to customers. The message is clear that this kind of behaviour is completely unacceptable and it's time for CommBank to do the right thing."
Quotes attributable to Bettina Cooper, Senior Financial Counselling and Strategy Lead at Mob Strong Debt Help:
"CBA knows it has unfairly pocketed $270 million in fees and seem comfortable keeping it, while the other banks have willingly returned it. Penny pinching on account fees received from low-income people doing it tough in a cost-of-living crisis while making super profits is not great optics. Particularly when your rivals are stepping up and doing the right thing and returning fees, some with interest."
"It is appalling that CBA is still avoiding transitioning people to an equitable low fee or no fee account without fee harm to low-income people including First Nations people, of which a high number historically bank with them."
Editor's notes:
Research designed and analysed by CHOICE with fieldwork provided by Dynata, an ISO 20252 and 26362 accredited organisation and full AMSRO member. The survey was conducted 23-24 August 2025 via Dynata's weekly omnibus. Sample of n=1,011 Australian adults nationally representative and weighted by age, gender and location to match the 2021 ABS Census.
We're on your side
For more than 60 years, we've been making a difference for Australian consumers. In that time, we've never taken ads or sponsorship.
Instead we're funded by members who value expert reviews and independent product testing.
With no self-interest behind our advice, you don't just buy smarter, you get the answers that you need.
You know without hesitation what's safe for you and your family. And our recent sunscreens test showed just how important it is to keep business claims in check.
So you'll never be alone when something goes wrong or a business treats you unfairly.
Learn more about CHOICE membership today
Stock images: Getty, unless otherwise stated.
