CommBank’s ‘interesting’ comments on cash holding costs highlighted against billions in profits

Sky News host Paul Murray slams Commonwealth Bank for their “interesting” comments on how much it costs to keep cash in an ATM or a branch while highlighting their “$9.8 billion” in profits. “Commonwealth Bank has made some interesting statements in the past couple of days including about how much money it apparently costs them to keep cash in an ATM or cash in a branch,” Mr Murray said. “The bank described providing cash as a challenging commercial model, and it revealed spending about $410 million on cash services in the year just gone … don’t shed too many tears though, the bank did still make a profit of $9.8 billion, so yes, cash is legal tender, and we should be able to get it from a bank … it is not like you don’t charge fees for people to access their own money, please.”