Pressure is mounting on Australia’s largest bank to scrap account changes that charge some customers to access their own cash.

Blasted as greedy and out of touch, Commonwealth Bank will shift all customers with a “Complete Access” account to a “Smart Access” account, which includes an “assisted withdrawal fee”.

The $3 fee hits customers when they take cash out from bank branches, post offices or over the phone, but it does not include withdrawals from ATMs.

Age, service and disability pensioners, customers aged under 18 and people with disabilities that require them to use branches will have the fee waived.

But that has not stopped a pile-on from prominent politicians, who have urged the bank to reconsider the decision.

“People understand there’s some charges relating to banking transactions, but this seems pretty extraordinary to have a charge of this size for a simple transaction of going into a bank and withdrawing your own money,” Finance Minister Katy Gallagher told Nine’s Today program on Wednesday.

Fellow Labor minister Clare O’Neil said the move was a “kick in the guts”.

“Everyone’s had a bit of a tough year on the cost-of-living front  … come on guys, it’s Christmas, we don’t need this right now,” she told Seven’s Sunrise.

The bank said its fees on the Smart Access account, its main transaction account, had not changed and it continued to offer withdrawal fee waivers for eligible customers.

But Liberal senator Jane Hume said customers would vote with their feet and close their accounts – including herself.

“I have a Commonwealth Bank account I’ve had since I was at university, I will be shutting it because of this decision,” she said.

“I don’t know whether it’s a Complete Access account or not (but) it’s a bad decision and I will be shutting my account.”

Independent MP Monique Ryan said the move showed cash was under threat in Australia.

The government recently announced proposed mandate for businesses like supermarkets, pharmacies and petrol stations that sell essential items to accept cash payments.

About 94 per cent of businesses accept cash, but this is down from 99 per cent before the COVID-19 pandemic.