Australia's largest bank is back on an annual list for dodgy business behaviour after it refused to refund cash it fleeced from low-income earners.

Consumer advocacy group Choice's Shonky Awards shamed Commonwealth Bank for incorrectly charging $270 million in fees to 2.2 million customers, including those on Centrelink incomes.

Those customers were on fee-charging accounts, when they should have been automatically transferred to a low or no-fee account, the Australian Securities and Investment Commission (ASIC) found.

Despite that, the bank dug its heels in and initially refused any refunds, before offering some on a case-by-case basis.

"A few weeks after refusing to pay $270 million in refunds, CommBank celebrated a $10 billion dollar annual profit ... it is thumbing its nose at ASIC

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