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Australian Community Media
  • 1 year ago
Commonwealth Bank has left some customers fuming after it reduced the daily deposit cash limit on ATMs from $1000 to $750 for those using mobile phones.

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00:00Commonwealth Bank has left some customers fuming after it reduced the daily deposit cash limit on ATMs from $1,000 to $750.
00:10The move affects cardless deposit customers utilising the service via their mobile phone number.
00:16A CBA spokesperson explained the reasoning behind the decision was to enhance customer protection against financial crimes.
00:25Despite the security intentions, some customers are frustrated.
00:30One business owner on social media vowed to change banks, while others criticised the move as part of the war against cash.
00:37I have to use a card which I am not used to using. I'm still old fashioned and like to use cash.
00:42Despite a push for digital payments, cash withdrawals in Australia are increasing.
00:47In February, Australians made 30.9 million ATM withdrawals, up 3.6% from the previous year, according to RBA data.
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