bank fees

Bank Charges Increase for Customers

Researchers are predicting that the Australian banks will collect more than $5 billion in fees in the coming year as they aim to survive the global economic crisis.
Fujistu Consulting who conduct an annual ‘bank fee’ report have found that Australian households on average pay 22 per cent more in bank fees than British households, and 11 per cent more than those in the US. What this essentially means is that the average Australian household pays close to AU$1000 in fees each year, compared to AU$749 in the UK and AU$850 in the US.

In the context of the current global financial services crisis, banks are attempting to recoup profits by increasing fees.

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By |May 23rd, 2011|Categories: News|Tags: , |Comments Off on Bank Charges Increase for Customers

ATM Fees in Pubs and Clubs

Customers are being warned of a new system of ATM’s that are being dispersed throughout New South Wales. The ATM’s, promoted by a company called iCash are called Cashpod’s and are going to be placed in pubs and clubs and other free standing operations throughout NSW over the coming weeks.

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By |May 23rd, 2011|Categories: News|Tags: , , , , , |Comments Off on ATM Fees in Pubs and Clubs

How to Minimise Bank Fees

The Reserve Bank of Australia has revealed that Australia’s banks pocketed $11.6 billion in 2008 purely from fees charged to consumers and businesses. This amount is an 8% increase from the previous year.

The $4.9 billion rise is reportedly slower than its annual growth rate over the previous five years. Credit cards and home loans have […]

By |May 23rd, 2011|Categories: News|Tags: , |Comments Off on How to Minimise Bank Fees