Thursday 7th of July 2022

in the trough of things .....

from the ABC …..

Costello urges banks to lower fees. 

Federal Treasurer Peter Costello is urging banks to reduce
the fees they charge when customers open or close accounts. 

Mr Costello says he has met with the major banks to ask
them to lower entry and exit fees they charge on accounts. 

He says uncompetitive fees are hurting consumers. 

"Exit fees and entry fees should be low to
zero," he said. 

"That is you should be able to get out of one bank
and into another bank with a minimum of cost. 

"The reason I want to do that is I want people to be
able to walk away from banks who have fees that are too high."