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Banks to refund $60m of 'excessive' fees but CommBank withholds $270m

Banking customers across Australia who have been unfairly charged high fees are set to receive refunds totalling $60 million.

Published: 12 August 2025
  • national
  • 12 August 2025
  • ABC News

However, the CommBank and its Bankwest subsidiary is refusing to pay $270 million in refunds.

ASIC says it will continue to monitor all of the banks' actions and has not ruled out further action.

The ABC explore how low-income Australians, many of them living in remote parts of the country, are struggling to navigate our banking system and its refund "shemozzle".

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