Commonwealth Bank is introducing daily account-based deposit limits at our deposit ATMs as a further measure in our ongoing management of money laundering risks.

A new daily account-based deposit limit of $10,000 will apply to CBA personal and business accounts for cash deposits made at CBA deposit ATMs from 10 April 2018.

Commonwealth Bank understands that it is the first major financial institution in Australia to implement a control of this type.

Implementing a cash deposit limit complements our reporting obligations, including the reporting of any suspicious transactions conducted across our network and the reporting of each and every cash deposit of $10,000 or more.

The daily limit has been introduced to further strengthen our anti-money laundering and counter-terrorism financing efforts.

Customers can deposit up to 200 notes and coins into a CBA deposit ATM per transaction, and can make multiple deposits at these machines up to the $10,000 daily limit for the account.

Flexibility in how and when deposits can be made is important for a range of our customers, particularly small business owners, who rely on after-hours facilities to securely deposit end of day or week takings. Any increase to this limit that some of our business customers may require will be considered on a case by case basis.

CBA is committed to continuing to strengthen our financial crimes compliance.