Commonwealth Bank allegedly overcharges thousands of customers for more than 19 years

Detailed summary

Commonwealth Bank allegedly overcharged millions of dollars in fees to tens of thousands customers.

Published: 23:01 GMT, 11 November 2026 | Updated: 23:20 GMT, 11 November 2026

Commonwealth Bank allegedly overcharged millions of dollars in fees to tens of thousands customers.

ASIC alleges that between November 2020 and May 31, 2025, about 42,000 CommBiz customers were overcharged about $8.5 million in fees.

'We allege Commonwealth Bank broke a basic promise to its business customers,' ASIC commissioner Alan Kirkland said.

'Small businesses are busy enough. They should not have to scrutinise every transaction to make sure that their bank is charging them the right fees.'

'What makes this particularly concerning is how long the alleged conduct went on, despite customer complaints to Commonwealth Bank pointing to a problem years earlier,' Mr Kirkland said.

Commonwealth Bank allegedly overcharged millions of dollars in fees to tens of thousands customers

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