bank charges....what the ?!?!
Feb 26th 2004, 12:39 am
#1
Forum Regular
Thread Starter
Joined: Dec 2003
Location: Brisbane!
Posts: 209
bank charges....what the ?!?!
I am looking into opening a bank account.
From useful past posts I see I can open a commonwealth bank and also an HSBC one easy enough from here in the UK...but....
What are all these charges? You get charged for buying things in a shop even. I spoke to the g/f and she confirmed thats the way it is, however she said she gets x amount of free ATM withdrawels, uses in shops etc etc every month with Commonwealth. However in the application and charges section I dont see any mention of any 'freebies'. Is this something you earn over time, or simply not available to me over here? Am i best waiting till I get to Oz?
I would prefer to use the same bank as her for ease, however does anyone have any recommendations on banks which dont charge you for all this?
Isnt it cheaper to keep it under the floorboards?!
From useful past posts I see I can open a commonwealth bank and also an HSBC one easy enough from here in the UK...but....
What are all these charges? You get charged for buying things in a shop even. I spoke to the g/f and she confirmed thats the way it is, however she said she gets x amount of free ATM withdrawels, uses in shops etc etc every month with Commonwealth. However in the application and charges section I dont see any mention of any 'freebies'. Is this something you earn over time, or simply not available to me over here? Am i best waiting till I get to Oz?
I would prefer to use the same bank as her for ease, however does anyone have any recommendations on banks which dont charge you for all this?
Isnt it cheaper to keep it under the floorboards?!
Feb 26th 2004, 12:45 am
#2
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Joined: Feb 2004
Location: Scotland...
Posts: 304
banks over here are shocking....
you dont get anything in terms of freebies...
i opened Westpac before i left UK and had the money sent over...
a current account here is called a savings account....
if you want a cheque book they tax you on every transaction that debits from your account - so noone really has cheque books here - even if you have a cheque book and you dont use any cheques you still get taxed as they say its too difficult to work out whats cheques and whats not! think you get a few transactions a month free - but not many - and you get charges after that
if this situation is old news please feel free to correct this info..
all the banks seem the same - they are pretty much all the same
you dont get anything in terms of freebies...
i opened Westpac before i left UK and had the money sent over...
a current account here is called a savings account....
if you want a cheque book they tax you on every transaction that debits from your account - so noone really has cheque books here - even if you have a cheque book and you dont use any cheques you still get taxed as they say its too difficult to work out whats cheques and whats not! think you get a few transactions a month free - but not many - and you get charges after that
if this situation is old news please feel free to correct this info..
all the banks seem the same - they are pretty much all the same
Feb 26th 2004, 12:49 am
#3
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Joined: Feb 2003
Location: Perth
Posts: 495
HSBC : You get 5 withdrawals from non HSBC ATMs per month. Using HSBC kit is free but there are not many branches.
No charges for running the account although the VIsa card has an annual "service" charge.
Getting cash back in supermarkets etc does not incur a charge.
Bank cheques for things like car purchase cost $5.
All in all not bad really.
We've been using them for 8 months and haven't paid charges yet
No charges for running the account although the VIsa card has an annual "service" charge.
Getting cash back in supermarkets etc does not incur a charge.
Bank cheques for things like car purchase cost $5.
All in all not bad really.
We've been using them for 8 months and haven't paid charges yet
Feb 26th 2004, 12:49 am
#4
Karma Comedian
Joined: Feb 2003
Location: Brisvegas
Posts: 3,506
CBA (Commonwealth) are thieving b******s, some recommend HSBC though there is no bank network to speak of
Feb 26th 2004, 12:52 am
#5
Not here
Joined: Jan 2003
Posts: 1,621
Originally posted by jayr
CBA (Commonwealth) are thieving b******s, some recommend HSBC though there is no bank network to speak of
CBA (Commonwealth) are thieving b******s, some recommend HSBC though there is no bank network to speak of
Feb 26th 2004, 12:53 am
#6
High in the Dandenongs
Joined: Apr 2003
Location: Listening to Puffing Billy
Posts: 9,183
Originally posted by jayr
CBA (Commonwealth) are thieving b******s, some recommend HSBC though there is no bank network to speak of
CBA (Commonwealth) are thieving b******s, some recommend HSBC though there is no bank network to speak of
Also 4.5% interest has to be worth having.
And you can withdraw cash from the post office free aswell.
You can also use any other cash points five times a month free too.
Feb 26th 2004, 12:58 am
#7
Joined: Aug 2003
Posts: 11,149
I think I shall be moving from wastepac. The 4.5% interest with HSBC sounds attractive.
Feb 26th 2004, 1:34 am
#8
Ping Pong Wannabe
Joined: Oct 2003
Location: Edge of the Cotswolds
Posts: 657
We opened a commonwealth account before leaving the UK and then read a load of posts on here about how awful they were.....started to wish we had gone with HSBC. BUT......since being here we have found them very helpful indeed, and of course there seems to be a branch or ATm just about everywhere which is a bonus.
With CBA you don't pay fees if you have a 'relationship' with the bank. That means if you have $20,000 or more invested with them. So, if you have the proceeds from a house sale in the UK you could avoid the bank fees. You still get charged for requesting a bank cheque though. ($5.40)
My cousin banks with ANZ and they pay $5 per month to have unlimited withdrawals....which works out cheaper than charges and means you have more flexibilty.
With CBA you don't pay fees if you have a 'relationship' with the bank. That means if you have $20,000 or more invested with them. So, if you have the proceeds from a house sale in the UK you could avoid the bank fees. You still get charged for requesting a bank cheque though. ($5.40)
My cousin banks with ANZ and they pay $5 per month to have unlimited withdrawals....which works out cheaper than charges and means you have more flexibilty.
Feb 26th 2004, 1:51 am
#9
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Joined: Jul 2003
Location: Westleigh, Sydney
Posts: 553
Courtesy of Choice magazine.
Feb 26th 2004, 2:52 am
#10
BE Enthusiast
Joined: Nov 2001
Location: Back in Aus
Posts: 721
Don't stand too long outside a bank either, the b*****ds will probably try to chage you rent!
Feb 26th 2004, 3:04 am
#11
Guest
Posts: n/a
Originally posted by Nibbs
HSBC : You get 5 withdrawals from non HSBC ATMs per month. Using HSBC kit is free but there are not many branches.
No charges for running the account although the VIsa card has an annual "service" charge.
Getting cash back in supermarkets etc does not incur a charge.
Bank cheques for things like car purchase cost $5.
All in all not bad really.
We've been using them for 8 months and haven't paid charges yet
HSBC : You get 5 withdrawals from non HSBC ATMs per month. Using HSBC kit is free but there are not many branches.
No charges for running the account although the VIsa card has an annual "service" charge.
Getting cash back in supermarkets etc does not incur a charge.
Bank cheques for things like car purchase cost $5.
All in all not bad really.
We've been using them for 8 months and haven't paid charges yet
Feb 26th 2004, 4:03 am
#12
Drunken Aussie
Joined: Jun 2003
Location: Brisvegas
Posts: 1,080
should do what i did. go work for a bank. fee free banking is much better 
Feb 26th 2004, 4:04 am
#13
Joined: Aug 2003
Posts: 11,149
Originally posted by brisnick
should do what i did. go work for a bank. fee free banking is much better
should do what i did. go work for a bank. fee free banking is much better
Feb 26th 2004, 4:07 am
#14
Drunken Aussie
Joined: Jun 2003
Location: Brisvegas
Posts: 1,080
trust me when i say i have nothing to do with the financial side of things. i just screw up their computers when requested.......
Originally posted by bondipom
Oi we've got a *anker here. Lets get into him.
Oi we've got a *anker here. Lets get into him.
Feb 26th 2004, 4:24 am
#15
Forum Regular
Joined: Sep 2003
Location: Melbourne
Posts: 114
We are with the national for our current account (which is called savings here) and for our visa card.
When we first opened it I couldn't believe that they charge you for lifting cash+ for using switch (EFTPOS)!!. The visa card is awful - 16.25% interest and an annual charge as well!!there doesn't seem to be any of those 6 month interest free deals that there was in the uk like egg etc.
I was with the halifax in the uk and never had to pay for anything even my overdraft which was interest free.
When we first opened it I couldn't believe that they charge you for lifting cash+ for using switch (EFTPOS)!!. The visa card is awful - 16.25% interest and an annual charge as well!!there doesn't seem to be any of those 6 month interest free deals that there was in the uk like egg etc.
I was with the halifax in the uk and never had to pay for anything even my overdraft which was interest free.