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Commonwealth Bank Of Australia Case Study

1617 Words7 Pages

The Commonwealth Bank of Australia (CBA) began the change of removing the need for a person to hunt down their own bank’s ATM to avoid a two-dollar fee to withdraw their cash. Why has the change been made now of all the years there has been a fee? There were more than two-hundred and fifty million withdrawals across all Australian banks by non-customers last financial year, this means that $500 million dollars were made over the course of one financial year (Hawk 2017). CBA began the decision to ditch ATM fees charged to customers of other institutions, Westpac Banking Corporation taking the leap soon after, with Australia and New Zealand Banking Group Limited (ANZ) right behind them. National Australia Bank (NAB) was the last of the big four …show more content…

Banks have claimed their returns from the machines are dwindling as they are spending more money on maintenance for the ATMs which are being used less every year as the country inevitably continues to a cashless economy (Snow 2017). Since the announcement was made, CBA has seen a 24% increase in non-customers using its machines (Chung 2017). This may positively affect the profits of the business as the use of ATMs grows from the fee removal. Showing that the agent (CBA management) have acted in the interest of its principal …show more content…

They will begin to be accepted in the Australian society which is one of the primary focuses of a business (Pitroff 2014). Due to the CBA being the first company to make the change in the Banking industry and removing the ATM foreign fees, this will be one of the reasons an existing or new customer may consider joining Commonwealth Bank of Australia as they will be seen as the business who are the pioneers in making changes which benefit Australians. As the business is viewed as a bank that is superior in terms of meeting society’s demands, this can lead to consumers of other banks making the move to a community friendly bank. In terms of the legitimacy theory, there is a positive impact on an organisation when there is an objective to meet social expectations (Chen 2010). This spontaneous decision made by the Commonwealth Bank of Australia will lead to an improvement in their ATM usage, corporate social responsibility and media

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