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National Australia Bank will continue slugging customers for using “non-NAB” cash machines, in defiance of the Reserve Bank. The RBA said financial institutions would have “no case” for levying such fees once new rules on ATM charges take effect on March 3. Under the new rules, it will cost banks about the same for their [...]

The Green bank fees and interest rate agenda
The Greens have bills before parliament to:
Regulate interest rate rises by ensuring banks charge no more than a fixed amount above a base rate,
Force banks to offer basic, free transaction accounts to all customers,
ban Bank ATM withdrawal fees and to cap mortgage exit fees.

Australia’s banks have been charging over the top interest rates with the excuse that they are risky. That’s one thing.
Then when the official interest rates were reduced, they did not reduce these high rates on credit cards. [The rate difference will be good for our mega profits. Thanks RBA for that say the banks.]
On top of that they have been slugging the poor consumer extra fees for going over their credit limit on their credit card. But wasn’t that the banks fault in allowing that transaction, and isn’t that the banks’ excuse for the high credit card rate in the first place?

Credit card security is a big problem in Australia and there were 1.3 million victims last year in Australia alone, losing an average of $1,000 each! So I wrote an article on how to protect your money, your ID and and your credit cards from scams that are designed to get your money. Frankly there [...]

The National Australia Bank will not confirm or deny rumours that it is considering the sale its $3 billion credit card business. Overseas banking players in the Australian market including Citibank, HSBC and GE have been touted as potential buyers, if any transaction were to go ahead. A spokesman said the bank would not comment [...]