ASIC sues the Commonwealth Bank, alleging 42,000 businesses paid a fee they were never clearly told about
The corporate regulator has started civil penalty proceedings against the Commonwealth Bank, alleging its CommBiz business banking terms hid a second fee on every direct debit and direct credit payment. ASIC alleges about 42,000 business customers were overcharged about $8.5 million between November 2020 and May 2025. CBA has apologised in a statement to the ASX, but says it expects to defend parts of the claim.
Updates
- Thursday morning AWSTLatest
CBA tells the ASX it accepts it did not get things right for CommBiz customers and apologises, but expects to defend certain aspects of the claim. ASIC's case, filed in the Federal Court, has not yet been listed for a first hearing.
- 6.00am AWST
ASIC confirms civil penalty proceedings against the Commonwealth Bank over undisclosed CommBiz direct debit and direct credit fees, alleging about $8.5 million overcharged to about 42,000 customers.
Three things to know
- ASIC alleges CBA told CommBiz customers about one fee per payment, then also charged an undisclosed fee for the matching movement of money in or out of their own account.
- The alleged overcharging covered about 42,000 customers and about $8.5 million between November 2020 and 31 May 2025; ASIC says the conduct ran for 19 years, despite complaints from at least 2015.
- CBA says it reported the problem itself and has already run a remediation program costing more than $26.4 million, but ASIC is still seeking penalties and adverse publicity orders, and the bank expects to fight parts of the case.
Australia’s biggest bank is going to court over the fine print on its business accounts.
The Australian Securities and Investments Commission said on Thursday morning it had started civil penalty proceedings against the Commonwealth Bank over fees on CommBiz, the online banking platform used by tens of thousands of Australian businesses to pay suppliers and collect money from customers.
What does ASIC say the bank did?
ASIC alleges the CommBiz terms and conditions were misleading because they did not clearly and accurately disclose all the fees businesses would pay for direct debit and direct credit payments.
Customers were told they would pay a fee for a payment to or from a third party’s account. ASIC alleges CBA also charged an additional fee, which was not disclosed, for the corresponding movement of money into or out of the customer’s own CommBiz account. In effect, the regulator says, one transaction carried two fees when businesses were told about one.
How much money, and for how long?
ASIC alleges about 42,000 CommBiz customers were overcharged about $8.5 million between November 2020 and 31 May 2025. That averages roughly $200 per business, although the regulator has not said how the charges were spread.
The regulator says the practice went on for 19 years, even though customers had complained about it from at least 2015. The bank has already completed a remediation program costing more than $26.4 million.
“We allege Commonwealth Bank broke a basic promise to its business customers,” ASIC commissioner Alan Kirkland said. “Small businesses are busy enough,” he said, describing the alleged conduct as a failure by the country’s biggest bank to get the basics right over many years.
These are allegations, and no court has ruled on them.
What does CBA say?
In a statement to the ASX on Thursday, the bank said it “accepts that it did not get things right for CommBiz customers and apologises”. It said it identified the problem itself, reported it to ASIC and co-operated fully, and has taken further steps to reduce the risk of it happening again.
But the bank also said it expects to defend certain aspects of the claim, while continuing to talk to ASIC about resolving the proceedings efficiently. In other words, a settlement is not ruled out, and neither is a contested hearing.
ASIC filed the case in the Federal Court late on Wednesday. It is seeking declarations, financial penalties, adverse publicity orders and costs. The matter has not yet been listed for its first case management hearing.
Why does this matter beyond CBA?
It is the second major bank in two days to be pulled up over pricing customers could not see. Macquarie Bank has admitted its savings “bonus” rate was not what it promised and agreed to a $14 million penalty in a case brought by ASIC.
For business owners, the case is a reminder to check what their bank actually charges per transaction, not only the headline fee in the brochure.
VNN will update this story as more is confirmed.
How we got here
The key moments that brought this story into focus. Open any moment for detail.
2015Complaints begin
ASIC says customers were complaining about the fee from at least this year.
November 2020Period in the case begins
Start of the period in which ASIC alleges about $8.5 million was overcharged.
31 May 2025Period ends
End of the period covered by ASIC's overcharging figure.
November 2026Macquarie penalty
Macquarie Bank agrees to a $14 million penalty over its savings bonus rate.
12 November 2026ASIC sues CBA
The regulator files civil penalty proceedings over CommBiz fees.
What happens next
The Federal Court will list the case for a first case management hearing; no date has been set. CBA says it will defend some aspects of the claim while it keeps talking to ASIC, so the next sign of which way it goes will be whether the two sides agree on facts and a penalty or prepare for a hearing. Business customers who think they paid the fee should check their CommBiz statements and contact the bank.
Sources
- VNN
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That is the story in a minute. For the evidence, context and what happens next, switch to the full story.
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