After years of complaints about high bank charges in Australia, things may be about to be changing in the big banks, the main culprits of high bank charges.
Westpac Bank for example, is excited to say:
We’re excited about this!
Starting this October, we’re reducing lots of our exception fees to $9.
Examples such as: “When we honour a cheque or other debit and your account becomes overdrawn over the agreed limit down from $40 to $9”
It will be interesting to see what all the other banks do.
More details on the Westpac Bank fee changes at: http://www.westpac.com.au/internet/publish.nsf/Content/PB+we+are+reducing+fees
NAB – National Australia Bank
NAB Classic Banking – Unlimited banking with no monthly account fees ever