The Commonwealth Bank has been labelled the 'shonkiest' company of all time by consumer group Choice, winning its infamous annual award for a record fourth time. The bank took out a 2025 Shonky Award for refusing to refund $270 million in fees charged to low-income customers, earning a special place in the 'Shonky's Hall of Shame'.
Choice CEO Ashley de Silva accused the bank of 'making bank off the back of Australia's poorest', noting that unlike other banks that have committed to repay $93 million, CBA is forcing millions of customers to pursue refunds individually. Many affected customers are First Nations people or live in regional and remote areas.
The fee problem came to light in July when ASIC found CBA and Bankwest charged $270 million in fees to 2.2 million customers eligible for low or no-fee accounts. CBA said it would make 'goodwill adjustments' but did not confirm how much had been repaid or how many customers were reimbursed.
Bettina Cooper, a senior financial counsellor with Mob Strong Debt Help, called the bank's conduct 'appalling', saying the case-by-case approach is unlikely to work for low-income Indigenous customers who may struggle to self-advocate. ASIC Commissioner Alan Kirland also criticized the bank, stating, 'CBA has a clear opportunity to make this right, just as other banks have done.'
Another winner was global e-retailer Temu, which made the list due to safety failures in products with button batteries. Choice tested 15 items, including kids' watches and electronic games, and found each failed at least one mandatory safety standard. Button batteries have been linked to 35 child deaths worldwide.
