business customers could get a rude shock when they go to make deposits from next month, with the bank increasing its fees from October 1., customers with a business transaction account will have to pay $10 instead of $3 per QuickCash bag deposit, while the fees for over-the-counter and cheque transactions will rise from $3 to $5.
Customers who pay a $10 monthly account fee will be able to make five deposits per month, down from the current 20.From October 1, Commonwealth Bank customers with a business transaction account will have to pay $10 instead of $3 per QuickCash bag deposit. However, cash withdrawals and deposits at the bank's instant deposit ATMs will remain free of charge.
While the move has sparked accusations of Commonwealth Bank not wanting to support cash-friendly businesses, CBA told 9news.com.au the change was a necessary one.