Do you object to bank charges here?
Apr 28th 2007, 1:51 pm
#16
Hants to Mel Aug 05
Joined: Dec 2004
Location: S/E Melbourne
Posts: 490
Re: Do you object to bank charges here?
We bank with HSBC and have never had to pay any charges, so no don't mind at all!!! 
Apr 28th 2007, 2:08 pm
#17
BE Forum Addict
Joined: Oct 2005
Location: Perth
Posts: 3,453
Re: Do you object to bank charges here?
I'm sure I read a news article a couple of months ago that Australians paid the highest fees (or one of the highest) in the world for bank services - and it is a result of (surprise, surprise) inefficient practices.
Can anyone remember the article?
Can anyone remember the article?
Apr 28th 2007, 11:15 pm
#18
Lost in BE Cyberspace
Joined: Mar 2003
Posts: 9,397
Re: Do you object to bank charges here?
>>Do you object to bank charges here?<<
No - don't pay any.
No - don't pay any.
Apr 29th 2007, 12:17 am
#19
Fighting my corner
Joined: Aug 2005
Location: Adelaide, South Australia
Posts: 11,948
Re: Do you object to bank charges here?
AUSTRALIAN bank fees are among the highest in the world, according to research by investment bank JP Morgan and Fujitsu Consulting.
Their research estimates that the average Australian pays up to $170 more each year in banking fees compared with customers in Britain or Canada.
The report also shows that more Australians are in financial hardship and bank lending standards have deteriorated.
Although the rise in household banking fees has slowed in the past year, mortgage, transaction and credit card fees in Australia are among the highest in the world, the report found.
[...]
MWE Consulting's managing director Michael Ebstein estimated that in the five years to 2005, business fees rose 34 per cent and household fees surged 76 per cent. About 41per cent of bank household fees are for transaction accounts.
MWE figures show bank fees on foreign ATM transactions rose more than 10per cent in the 12 months to January to about $650 million.
Mr Johnson said a significant opportunity existed to reduce fees and that with the looming federal election the "politicisation of banking fees will be a big issue".
The British Government recently passed legislation that linked fees to the cost of the service. Australia could follow that model, Mr Johnson said.
Apparently the US and South Africa have the highest bank charges in the world.
Apr 29th 2007, 12:32 am
#20
BE Forum Addict
Joined: Oct 2005
Location: Perth
Posts: 3,453
Re: Do you object to bank charges here?
Thanks for finding this, Vash.
Interestingly, when I was trying to find the article earlier I noted a comment about moves to force Australian banks to charge only in line with what the customer's transgression actually costs the bank - a similar move to what it is being promoted in the UK.
On a different but related note, my recent trip to NZ was a bit of an eye opener with regard to trans-Tasman banking relations. High street banks in Auckland are invariably Westpac, ANZ etc (an interesting exercise to see if you get charged extra for trying to withdraw your money from a NZ branch of your Aussie bank...!). There was quite a big publicity campaign to try and get Kiwis to bank NZ and ignore the Australian banks.
Must be a bit galling, having to bank with an Australian bank. Imagine if in the High Streets of UK towns, most of the banks were French!
I'd rather keep my money in a whore's knickers than give it to the CAP-loving, EU-is-great-if-it-benefits-me, lets-throw-horse-shit-at-buildings-because-I'm-not-getting-enough-subsidies French.
Interestingly, when I was trying to find the article earlier I noted a comment about moves to force Australian banks to charge only in line with what the customer's transgression actually costs the bank - a similar move to what it is being promoted in the UK.
On a different but related note, my recent trip to NZ was a bit of an eye opener with regard to trans-Tasman banking relations. High street banks in Auckland are invariably Westpac, ANZ etc (an interesting exercise to see if you get charged extra for trying to withdraw your money from a NZ branch of your Aussie bank...!). There was quite a big publicity campaign to try and get Kiwis to bank NZ and ignore the Australian banks.
Must be a bit galling, having to bank with an Australian bank. Imagine if in the High Streets of UK towns, most of the banks were French!
I'd rather keep my money in a whore's knickers than give it to the CAP-loving, EU-is-great-if-it-benefits-me, lets-throw-horse-shit-at-buildings-because-I'm-not-getting-enough-subsidies French.
Last edited by NKSK version 2; Apr 29th 2007 at 1:18 am.
Apr 29th 2007, 1:08 am
#21
has lost The Game
Joined: Apr 2005
Location: Chippendale, Sydney
Posts: 8,735
