Australian Bank Charges/Fee’s - Are they really fair?

Have you ever needed a duplicate copy of your Bank Transaction Records?

Lets say .. You needed a copy of 2 years of records.

Lets say .. Your ‘transaction cycle’ is monthly. (How often you get a statement)

This is what it will cost you to obtain your 24 months of records.

  • Commonwealth Bank - $7 x 24 = $168
  • Australia & New Zealand Bank - $14 x 24 = $336
  • Bank South Australia - $7.5 x 24 = $180
  • Australian Central Credit Union - $10 x 24 = $240

Are these fee’s fair? *(cough)*

Of course they arent fair… Thats why I am blogging..

The fee for aquiring the ‘records’ should be dropped to a reasonable amount. (No more than $2 per ‘transaction period’ I would strongly suggest.)

This is a classic example of ‘buyer beware’. The different fee’s charged by the banks for this ‘service’ is quite shocking. But if you didn’t compare the ‘ever changing’ TOS with the competions ‘ever changing’ TOS when you signed up for the account.. (and then kept up with each TOS as they constantly changed..) I have no sympathy for you. *(wink)*

Looks like (as usual) it ends up being all your fault. I guess, in the eyes of some, that makes you a banking noob? Possibly..

However, One thing I think it sure proves. Is that the biggest of the corporations will happily ‘prey’ on the public. (If they aren’t stopped from doing so.)

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