Banking Review

Posts Tagged bank fees

• Fee crackdown should drive innovation

  They’ve done it in the UK, it’s headed to Australia, and they’re debating it in the US. Cracking down on bank penalty fees is all the rage in the developed world, as legislators ponder the fallout from GFC-induced industry consolidation. Reduced penalty fees from Australia’s major banks...

• The search for the least evil bank in Australia

  After a few interesting customer experiences with banks in recent weeks, Cameron Reilly of The Podcast Network began a Twitter poll to find the least evil bank in Australia.In early polling Bendigo Bank was ahead as the least evil bank. Since interviews began today with banks, commentators and other...

• What do consumers think about reduced competition in banking?

  Retail Banking Review/CoreData has just released the findings of a revealing poll on competition in Australian banking.It seems one in six (16.7 per cent) BankWest customers and 7.4 per cent of St George customers plan to vote with their feet and leave the bank as a result of the merger/takeover of ...

• Could this be the demise of foreign ATM fees?

  BankWest has lobbed another grenade in its mission to lure customers away from the big four, with the launch of another fee-free transaction account.The account does away with the foreign ATM fees still charged by the majority of banks offering low fee or “all-you-can-eat” transaction accounts. ...

• Ending the fee for all

  Bank fees look set to become an election issue with politicians and consumer groups stepping up their campaigns on the back of a Senate inquiry into fair fees.A bill tabled by Family First Senator Steve Fielding seeks to prohibit penalty fees on failed transactions that are beyond the control of the...