Juan had a point and it’s a confusing issue that also relates to insurance. I recall my building had this debate years ago when we wanted to take the commissions out of the equation and save ourselves the money that was going to the strata manager. The insurers took the money off the premium but still paid the strata manager. Why? It’s got something to do with the legwork and paperwork being done at the strata manager’s end of things and the bank just has to register the the new customer so it’s easy.
That said, I am sure there are companies out there who are milking this for all its worth and that in some cases the mutual benefit between service provider and strata manager is at the expense of the strata scheme.
However, you don’t have to go along with these arrangements. You can tell the strata manager to change banks or insurance companies for your account. If they refuse to do so, ask why and if there is no satisfactory answer, start making plans to change your strata manager.