bank fees

Reserve Bank to continue regulating Credit Card & EFTPOS fees

Sep 01, 2009 - Eric Smyth

Because the industry has not made sufficient progress to improve competition in the payments market the Reserve Bank will continue to regulate bank fees levied on credit card and EFTPOS.

Last year in September the RBA called on the banks to develop a more suitable online process to improve the EFTPOS network.

Hooray someone has finally got it right!

Aug 12, 2009 - Eric Smyth

ING has finally got it right by giving millions of Australians access to completely free banking following the launch of the country's first fee free transaction account.

Commonwealth Bank joins other major banks in fee reductions

Aug 06, 2009 - Eric Smyth

Commonwealth Bank has decided to join the other major banks and reduce late fees across a range of personal and business transaction accounts.

Commonwealth Bank stated that they were implementing safety nets to help customers avoid these fees in the future.

NAB, Westpac & St George abolish overdrawn fees

Aug 04, 2009 - Eric Smyth

The big banks are finally sitting up and taking notice.

Following the NAB's decision last week to abolish its $30 overdraw fee from personal and transaction accounts, Westpac and St George Bank have decided to follow suit by cutting their overdraft fees for all accounts.

Cabinet to ban exit fees

Apr 20, 2009 - Boris Chan

The Federal Government is examining ways to increase competition, and could consider banning bank exit fees.

Aussies pay $1000 a year in bank fees

Mar 06, 2009 - Eric Smyth

A researcher has forecast that Australian banks will collect more than $5 billion in fees in the year ahead as they aim to survive the global economic crisis.

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