Australian Politics Forum - Greedy Commonwealth Bank Blasted For Fee Grab

Baronvonrort Gold Member Offline Australian Politics Posts: 18479 Gender:	Re: Greedy Commonwealth Bank Blasted For Fee Grab Reply #15 - Dec 5^th, 2024 at 4:47pm John Smith wrote on Dec 4^th, 2024 at 11:44am: They had a $9.5BILLION profit last year. Those who have CBA shares are very happy with their profits it means dividends are higher for some than what they paid for the shares.
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John Smith Gold Member Offline Australian Politics Posts: 74579 Gender:	Re: Greedy Commonwealth Bank Blasted For Fee Grab Reply #16 - Dec 5^th, 2024 at 4:51pm MeisterEckhart wrote on Dec 5^th, 2024 at 4:32pm: They won't. they will if enough people insist on it
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John Smith

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Re: Greedy Commonwealth Bank Blasted For Fee Grab
Reply #17 - Dec 5^th, 2024 at 4:52pm

Baronvonrort wrote on Dec 5^th, 2024 at 4:47pm:

John Smith wrote on Dec 4^th, 2024 at 11:44am:

They had a $9.5BILLION profit last year.

Those who have CBA shares are very happy with their profits it means dividends are higher for some than what they paid for the shares.

once cash is gone those with shares will be charged $50 each time they touch their dividends, then they'll cry that they are victims

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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MeisterEckhart

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Re: Greedy Commonwealth Bank Blasted For Fee Grab
Reply #18 - Dec 5^th, 2024 at 4:56pm

John Smith wrote on Dec 5^th, 2024 at 4:51pm:

MeisterEckhart wrote on Dec 5^th, 2024 at 4:32pm:

They won't.

they will if enough people insist on it

Yep, well they're politicians and none of them have named that date for full cashless yet, so...

But they've paid the insurance by being miffed at bank fees...

They've run that up the flagpole and will be watching the numbers of those who salute.

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Grappler Truth Teller Feller Gold Member Offline Australian Politics Posts: 84633 Proud pre-1850's NO Voter Gender:	Re: Greedy Commonwealth Bank Blasted For Fee Grab Reply #19 - Dec 6^th, 2024 at 8:00am And there's your problem - a business that runs in the black so highly no longer needs to be sustained by 'shareholders'. The entire area of business and shareholding needs to be fully reviewed to fit with the 21st Century and not the 19th, when only the well-off had the money to invest in 'business'.
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freediver

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Re: Greedy Commonwealth Bank Blasted For Fee Grab
Reply #20 - Dec 7^th, 2024 at 8:15am

John Smith wrote on Dec 5^th, 2024 at 4:51pm:

MeisterEckhart wrote on Dec 5^th, 2024 at 4:32pm:

They won't.

they will if enough people insist on it

Everyone does insist on free banking services. Also free plastic shopping bags. And free peanuts at the bar. Somehow it is still not enough.

You should hide all your money under the mattress instead John. That'll teach 'em.

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John Smith

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Re: Greedy Commonwealth Bank Blasted For Fee Grab
Reply #21 - Dec 7^th, 2024 at 9:32am

freediver wrote on Dec 7^th, 2024 at 8:15am:

John Smith wrote on Dec 5^th, 2024 at 4:51pm:

MeisterEckhart wrote on Dec 5^th, 2024 at 4:32pm:

They won't.

they will if enough people insist on it

Everyone does insist on free banking services. Also free plastic shopping bags. And free peanuts at the bar. Somehow it is still not enough.

You should hide all your money under the mattress instead John. That'll teach 'em.

Who said anything about free you dumbarse?

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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Sophia

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Re: Greedy Commonwealth Bank Blasted For Fee Grab
Reply #22 - Dec 7^th, 2024 at 9:45am

MeisterEckhart wrote on Dec 5^th, 2024 at 4:34pm:

Jasin wrote on Dec 5^th, 2024 at 4:15pm:

And when the cashless electronic system fails because of a lack of electricity, solar flares and more.

What will people and businesses use?
And will there be compensation for such failures?

The power's gone out before... Have you installed gas lamps at your house in case it goes out again? A diesel generator in the back yard?

Everything electronic… what could possibly go wrong Roll Eyes

And yes… getting prepped to go further backwards….
Got the old lamp within reach on top of kitchen bench, millions of candles and matches, 2 generators, and in case of solar flare where all cars are electronically cooked … we have one old lister with wind up crank handle to start it up Grin

Re: anz banks closures…. It was totally unnecessary… and I miss the human interaction and help sitting at desks with bank officers.
How sad it makes me.

Btw this old lamp belonged to my in-laws when it was used at a time during/after war before electricity came to their farm house.

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Sophia

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Re: Greedy Commonwealth Bank Blasted For Fee Grab
Reply #23 - Dec 7^th, 2024 at 9:53am

MeisterEckhart wrote on Dec 5^th, 2024 at 8:39am:

John Smith wrote on Dec 4^th, 2024 at 11:44am:

I know I for one will be closing my accounts with them.

You'll find all banks will follow suit.

They all want out of the cash business... As do federal and state governments.

By early 2025, nearly 99% of all transactions will be non-cash.

And that’s weird …. Especially when we received a letter from Anz recently stating cash withdrawal from atm’s will go from $1,000 per day limit, to $2,500 per day limit per card from early Jan ‘25

I don’t get the reason behind all that… especially when it’s a push to go cashless.

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MeisterEckhart

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Re: Greedy Commonwealth Bank Blasted For Fee Grab
Reply #24 - Dec 7^th, 2024 at 10:09am

Sophia wrote on Dec 7^th, 2024 at 9:45am:

MeisterEckhart wrote on Dec 5^th, 2024 at 4:34pm:

Jasin wrote on Dec 5^th, 2024 at 4:15pm:

And when the cashless electronic system fails because of a lack of electricity, solar flares and more.

What will people and businesses use?
And will there be compensation for such failures?

The power's gone out before... Have you installed gas lamps at your house in case it goes out again? A diesel generator in the back yard?

Everything electronic… what could possibly go wrong Roll Eyes

And yes… getting prepped to go further backwards….
Got the old lamp within reach on top of kitchen bench, millions of candles and matches, 2 generators, and in case of solar flare where all cars are electronically cooked … we have one old lister with wind up crank handle to start it up Grin

Re: anz banks closures…. It was totally unnecessary… and I miss the human interaction and help sitting at desks with bank officers.
How sad it makes me.

Btw this old lamp belonged to my in-laws when it was used at a time during/after war before electricity came to their farm house.

Now that, ladies and gentlemen, is the mindset of a remote community pragmatist!

Very few of them exist in first-world countries.

But when it comes to banks, their branch closures are more than necessary...

And with nearly all of us who've abandoned cash altogether, who are the customers?

But, more to the point, while some of us may rail against the huge profits banks make, no one is bitching when their super increases due, in part to those huge profits.

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MeisterEckhart

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Re: Greedy Commonwealth Bank Blasted For Fee Grab
Reply #25 - Dec 7^th, 2024 at 10:13am

Sophia wrote on Dec 7^th, 2024 at 9:53am:

MeisterEckhart wrote on Dec 5^th, 2024 at 8:39am:

John Smith wrote on Dec 4^th, 2024 at 11:44am:

I know I for one will be closing my accounts with them.

You'll find all banks will follow suit.

They all want out of the cash business... As do federal and state governments.

By early 2025, nearly 99% of all transactions will be non-cash.

And that’s weird …. Especially when we received a letter from Anz recently stating cash withdrawal from atm’s will go from $1,000 per day limit, to $2,500 per day limit per card from early Jan ‘25

I don’t get the reason behind all that… especially when it’s a push to go cashless.

Pragmatism, I'm guessing, by fewer people needing assisted withdrawals - lower overheads.

$1000 ain't what it used to be 10 years ago.

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Sophia

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Re: Greedy Commonwealth Bank Blasted For Fee Grab
Reply #26 - Dec 7^th, 2024 at 10:46am

MeisterEckhart wrote on Dec 7^th, 2024 at 10:13am:

Sophia wrote on Dec 7^th, 2024 at 9:53am:

MeisterEckhart wrote on Dec 5^th, 2024 at 8:39am:

John Smith wrote on Dec 4^th, 2024 at 11:44am:

I know I for one will be closing my accounts with them.

You'll find all banks will follow suit.

They all want out of the cash business... As do federal and state governments.

By early 2025, nearly 99% of all transactions will be non-cash.

And that’s weird …. Especially when we received a letter from Anz recently stating cash withdrawal from atm’s will go from $1,000 per day limit, to $2,500 per day limit per card from early Jan ‘25

I don’t get the reason behind all that… especially when it’s a push to go cashless.

Pragmatism, I'm guessing, by fewer people needing assisted withdrawals - lower overheads.

$1000 ain't what it used to be 10 years ago.

The point I’m getting at…. it just seems contradictory that there’s a push towards cashless (definitely more so in Europe!) and yet offering more cash withdrawals.

But …. as a result of my credit cards being compromised 3 times this year alone, with new card replacement, and just this week hubby’s card too! So that’s 4 times for just us 2 this year, so as a result, I’m cashing out and carrying big wads around with me now and pay cash everywhere!
The good thing is… I won’t get mugged for cash… because no one has cash on them anymore, so assumptions are… noone will know I have.
See… going opposit to everyone has it’s merits Cool

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MeisterEckhart

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Re: Greedy Commonwealth Bank Blasted For Fee Grab
Reply #27 - Dec 7^th, 2024 at 11:06am

Sophia wrote on Dec 7^th, 2024 at 10:46am:

MeisterEckhart wrote on Dec 7^th, 2024 at 10:13am:

Sophia wrote on Dec 7^th, 2024 at 9:53am:

MeisterEckhart wrote on Dec 5^th, 2024 at 8:39am:

John Smith wrote on Dec 4^th, 2024 at 11:44am:

I know I for one will be closing my accounts with them.

You'll find all banks will follow suit.

They all want out of the cash business... As do federal and state governments.

By early 2025, nearly 99% of all transactions will be non-cash.

And that’s weird …. Especially when we received a letter from Anz recently stating cash withdrawal from atm’s will go from $1,000 per day limit, to $2,500 per day limit per card from early Jan ‘25

I don’t get the reason behind all that… especially when it’s a push to go cashless.

Pragmatism, I'm guessing, by fewer people needing assisted withdrawals - lower overheads.

$1000 ain't what it used to be 10 years ago.

The point I’m getting at…. it just seems contradictory that there’s a push towards cashless (definitely more so in Europe!) and yet offering more cash withdrawals.

But …. as a result of my credit cards being compromised 3 times this year alone, with new card replacement, and just this week hubby’s card too! So that’s 4 times for just us 2 this year, so as a result, I’m cashing out and carrying big wads around with me now and pay cash everywhere!
The good thing is… I won’t get mugged for cash… because no one has cash on them anymore, so assumptions are… noone will know I have.
See… going opposit to everyone has it’s merits Cool

Just don't get caught on a spycam withdrawing $2500 too often!

The $2500 thing? I'd guess the bank got tired of tellers dealing with assisted withdrawals below $5000 which don't trigger AUSTRAC's 'know your customer' mandatory noting/reporting rules. That and the bank does not need to manage as much cash on hand.

Then, maybe their analytics process indicated that $2500 was the ATM sweet spot for cash withdrawals for their hardcore cash customers.

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Sophia

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Re: Greedy Commonwealth Bank Blasted For Fee Grab
Reply #28 - Dec 7^th, 2024 at 12:08pm

MeisterEckhart wrote on Dec 7^th, 2024 at 11:06am:

Sophia wrote on Dec 7^th, 2024 at 10:46am:

MeisterEckhart wrote on Dec 7^th, 2024 at 10:13am:

Sophia wrote on Dec 7^th, 2024 at 9:53am:

MeisterEckhart wrote on Dec 5^th, 2024 at 8:39am:

John Smith wrote on Dec 4^th, 2024 at 11:44am:

I know I for one will be closing my accounts with them.

You'll find all banks will follow suit.

They all want out of the cash business... As do federal and state governments.

By early 2025, nearly 99% of all transactions will be non-cash.

And that’s weird …. Especially when we received a letter from Anz recently stating cash withdrawal from atm’s will go from $1,000 per day limit, to $2,500 per day limit per card from early Jan ‘25

I don’t get the reason behind all that… especially when it’s a push to go cashless.

Pragmatism, I'm guessing, by fewer people needing assisted withdrawals - lower overheads.

$1000 ain't what it used to be 10 years ago.

The point I’m getting at…. it just seems contradictory that there’s a push towards cashless (definitely more so in Europe!) and yet offering more cash withdrawals.

But …. as a result of my credit cards being compromised 3 times this year alone, with new card replacement, and just this week hubby’s card too! So that’s 4 times for just us 2 this year, so as a result, I’m cashing out and carrying big wads around with me now and pay cash everywhere!
The good thing is… I won’t get mugged for cash… because no one has cash on them anymore, so assumptions are… noone will know I have.
See… going opposit to everyone has it’s merits Cool

Just don't get caught on a spycam withdrawing $2500 too often!

The $2500 thing? I'd guess the bank got tired of tellers dealing with assisted withdrawals below $5000 which don't trigger AUSTRAC's 'know your customer' mandatory noting/reporting rules. That and the bank does not need to manage as much cash on hand.

Then, maybe their analytics process indicated that $2500 was the ATM sweet spot for cash withdrawals for their hardcore cash customers.

True point.
Well I only have and need x amount in savings account with many direct debit payments (utilities, insurance, eastlink, etc) so even $2,500 is a bit hefty and don’t want to drain my account.
I’m happy with about $1,000 for a while …
I get my sushi, a cuppacino, occasional takeaway, lotto, …. alas what suckered me into using credit cards was that ANZ cards offered rewards points and about 45 days to pay back the debt by due date (also on auto debit payment) to avoid interest.
Worked well for me as I never spent more than I had in savings account.
And points galore! My first freebie with accumulated points was a Brother sewing machine!
Then there were petrol vouchers too!
Anyway, I doubt I will ditch the card and I still will pay cash for stuff that don’t earn rewards points.

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MeisterEckhart

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Re: Greedy Commonwealth Bank Blasted For Fee Grab
Reply #29 - Dec 7^th, 2024 at 12:21pm

Sophia wrote on Dec 7^th, 2024 at 12:08pm:

MeisterEckhart wrote on Dec 7^th, 2024 at 11:06am:

Sophia wrote on Dec 7^th, 2024 at 10:46am:

MeisterEckhart wrote on Dec 7^th, 2024 at 10:13am:

Sophia wrote on Dec 7^th, 2024 at 9:53am:

MeisterEckhart wrote on Dec 5^th, 2024 at 8:39am:

John Smith wrote on Dec 4^th, 2024 at 11:44am:

I know I for one will be closing my accounts with them.

You'll find all banks will follow suit.

They all want out of the cash business... As do federal and state governments.

By early 2025, nearly 99% of all transactions will be non-cash.

And that’s weird …. Especially when we received a letter from Anz recently stating cash withdrawal from atm’s will go from $1,000 per day limit, to $2,500 per day limit per card from early Jan ‘25

I don’t get the reason behind all that… especially when it’s a push to go cashless.

Pragmatism, I'm guessing, by fewer people needing assisted withdrawals - lower overheads.

$1000 ain't what it used to be 10 years ago.

The point I’m getting at…. it just seems contradictory that there’s a push towards cashless (definitely more so in Europe!) and yet offering more cash withdrawals.

But …. as a result of my credit cards being compromised 3 times this year alone, with new card replacement, and just this week hubby’s card too! So that’s 4 times for just us 2 this year, so as a result, I’m cashing out and carrying big wads around with me now and pay cash everywhere!
The good thing is… I won’t get mugged for cash… because no one has cash on them anymore, so assumptions are… noone will know I have.
See… going opposit to everyone has it’s merits Cool

Just don't get caught on a spycam withdrawing $2500 too often!

The $2500 thing? I'd guess the bank got tired of tellers dealing with assisted withdrawals below $5000 which don't trigger AUSTRAC's 'know your customer' mandatory noting/reporting rules. That and the bank does not need to manage as much cash on hand.

Then, maybe their analytics process indicated that $2500 was the ATM sweet spot for cash withdrawals for their hardcore cash customers.

True point.
Well I only have and need x amount in savings account with many direct debit payments (utilities, insurance, eastlink, etc) so even $2,500 is a bit hefty and don’t want to drain my account.
I’m happy with about $1,000 for a while …
I get my sushi, a cuppacino, occasional takeaway, lotto, …. alas what suckered me into using credit cards was that ANZ cards offered rewards points and about 45 days to pay back the debt by due date (also on auto debit payment) to avoid interest.
Worked well for me as I never spent more than I had in savings account.
And points galore! My first freebie with accumulated points was a Brother sewing machine!
Then there were petrol vouchers too!
Anyway, I doubt I will ditch the card and I still will pay cash for stuff that don’t earn rewards points.

Yep! That's how to get it done!

Work with the bank's services - which must be aligned with financial regulations and duty to its shareholders - for personal optimum outcomes.

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