I am old enough to remember when banks paid you to have your money with them. I remember when the ATM was going to be so great because they were so much cheaper to run than having to pay a teller and ALL transaction were going to be free!! Do you remember that?? Banks are greedy and dishonest. Don’t put your money with any of the big 4…there are alternatives.
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In the UK, you can use an ATM from any bank with no fees. Result: users have more ATMs to access, and banks don’t need to put ATMs everywhere.
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I don’t believe in paying bank fees for everyday accounts full stop. In the UK many bank accounts have been fee-free for years, and I can’t understand why people are happy to pay fees here. Similarly with credit cards, and ATMs. The more customers vote with their feet, the more competitive offers the banks will make, and Aussies can avoid paying fees too.
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I am lucky I can use either my CBA or Peoples Choice cards in the same shopping centre close to home & I try to take out enough to keep me going for the week but I have had to use an ATM which did charge a fee of $2.50 which I really did begrudge paying. Maybe for those who don’t want to pay a fee should try to do this if it is an option.
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Same for me. No fees at all from ING Direct and the bonus interest gives the best interest to be had for deposits up to $100,000.
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