Business · Companies · 42 mins ago
ASIC sues Commonwealth Bank over alleged business fee overcharging
Australia’s corporate regulator is suing Commonwealth Bank over fees charged to business customers using its CommBiz banking platform.
ASIC alleges about 42,000 businesses were overcharged around $8.5 million between November 2020 and May 2025.
Customers were told they would pay a fee for payments to or from other accounts, but ASIC says the bank also charged an undisclosed fee for moving money into or out of their CommBiz accounts.
ASIC says the terms were misleading and that the issue continued for years, despite complaints and an internal audit identifying overcharging.
CBA says it has completed a remediation program covering past and current customers, paying more than $26.4 million to about 93,000 customers.
The bank apologised but disputes some allegations, and the Federal Court has not yet scheduled a hearing.
ASIC has sued Commonwealth Bank of Australia over alleged undisclosed fees charged to business customers using its CommBiz platform.
The regulator alleges about 42,000 businesses were overcharged about $8.5 million between November 2020 and May 2025.
ASIC says the bank’s terms did not clearly disclose all fees for direct debit and direct credit payments.
CBA says the relevant fee was 25 cents plus GST, and that it is remediating affected customers.
The bank apologised but said it would defend some aspects of the proceedings.
- Who
- The Australian Securities and Investments Commission is suing Commonwealth Bank of Australia.
- What
- ASIC alleges CBA overcharged business customers through undisclosed CommBiz fees. CBA accepts it did not get things right but disputes aspects of the allegations.
- When
- The alleged overcharging covered November 2020 to May 2025. The case was announced on Thursday, November 12, 2026.
- Where
- The case was filed in the Federal Court of Australia.
- Why
- ASIC alleges the CommBiz terms and conditions did not clearly and accurately disclose all fees for direct debit and direct credit payments.
ASIC
Commonwealth Bank of Australia
Fees and disclosure
ASIC
ASIC alleges CBA charged additional fees that were not disclosed in its CommBiz terms.
Commonwealth Bank of Australia
CBA says changes intended to simplify some terms did not accurately reflect its fee-charging method.
Responsibility and response
ASIC
ASIC alleges governance failures and says CBA did not correct the issue despite complaints and an internal audit.
Commonwealth Bank of Australia
CBA says it self-identified and reported the matter, has taken rectification steps, and will defend some aspects of the claim.
CommBiz launched, and ASIC alleges the misleading terms were in place from that time.
ASIC alleges CBA received customer complaints about the fee issue.
ASIC says a CBA internal audit identified overcharging and required corrective action.
About 42,000 businesses were allegedly overcharged about $8.5 million.
CBA temporarily stopped charging the relevant fees.
CBA amended the CommBiz terms.
- Customers affected
- About 42,000 businesses
- Alleged overcharges
- About $8.5 million
- Alleged overcharging period
- November 2020 to May 2025
- Relevant fee
- 25 cents plus GST
- Court
- Federal Court of Australia
- Remediation
- More than $26.4 million paid to about 93,000 CommBiz customers
4 sources
What people are saying
We allege Commonwealth Bank broke a basic promise to its business customers, many of them small businesses, that the fees it told them they would pay were the fees they would actually be charged
Small businesses are busy enough. They should not have to scrutinise every transaction to make sure that their bank is charging them the right fees.
While CBA charged the fee consistently over time, the issue arose from changes made to certain terms and conditions intended to simplify them, which did not accurately reflect the fee charging method
While CBA accepts that it did not get things right for CommBiz customers and apologises to all customers impacted by this matter, CBA does not accept the way that some of the allegations have been formulated.