Reports that receiving your personal bank account statement from Commonwealth Bank will no longer be free are misleading and incorrect.
Commonwealth Bank currently mails free bank account statements to customers as part of our standard statement frequency of every 6 months for personal bank accounts and 3 months for business bank accounts.
This will not change.
From 1 February 2017 personal bank account customers will continue to receive two free paper statements each year. If customers want to receive extra statements or more regular statements, there will be a $2.50 frequent fee per statement.
Pensioners and youth are exempt. We have ensured pensioners and youth saver accounts will not be charged for any additional account statements if they need to receive any.
We also understand some of our customers may have unique circumstances and we encourage them to contacts us to see whether a fee waiver could apply to them.
We know many of our customers are increasingly looking to bank with us when and where it is convenient for them. Customers can access their statements online at any time for free, with statements archived for up to seven years.
Many of our customers are now choosing to receive their statements online. More than 60 per cent of our personal bank account statements now have online statements.