Commonwealth Bank extends fee free transactions for pensioner customers & re-affirms commitment to passbook accounts

19 March 2001

The Commonwealth Bank Group has extended its fee exemption to eligible aged and war veteran pensioner customers.

Under current arrangements, the Bank offers a $6 rebate to eligible pensioner customers to cover the cost of two over-the-counter withdrawals per month.

In those calendar months when pensioners are paid three pension instalments (twice a year), eligible pensioners can undertake a third over the counter withdrawal free of charge.

Alternatively, the $6 rebate continues to allow 10 Automatic Telling Machine withdrawals or 15 Eftpos transactions a month. The rebate rises by 50 cents for every $500 in the account.

This new arrangement, effective immediately, covers all eligible aged and war veteran pensioners.

The Commonwealth Bank has also confirmed the ongoing availability of passbook accounts.

Mr Hugh Harley, General Manager, Personal Customers, said "Commonwealth Bank passbook accounts are now also available to all Colonial Bank customers following the merger between the two banks last June," Mr Harley said. "This includes Colonial Trust Bank customers in Tasmania."