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The CBA is the third major to jettison its mortgage exit fees.

According to The Adviser, the bank told journalists that it decided to remove its exit fees before the new rules came into effect. 

The government's proposed ban on exit fees became law yesterday, forcing Australia's lenders to rethink their stance on the fees.

CBA's move matches those made by NAB and ANZ late last year.

Meanwhile, in spite of Gail Kelly saying in the press recently that exit fees weren't "a big matter" for Westpac, it is now the only major still charging exit fees. 

CBA bank spokesperson Steve Batten said:  "It is fair to say that we have been open about offering competitive products and pricing and we are being proactive."

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Westpac's Gail Kelly sides with smaller lenders on fee ban, promises rates cuts to borrowers - Calling it poor public policy, Westpac chief Gail Kelly has hit out at moves by the federal government to ban exit fees on home loans.