Newspaper article Daily Examiner (Grafton, Australia)

Banks Slug Us Everyday and Everyway

Newspaper article Daily Examiner (Grafton, Australia)

Banks Slug Us Everyday and Everyway

Article excerpt

Byline: comment peter chapman peter.chapman@dailyexaminer.com.au

WE all know that the banks rip us off every day so isn't it about time someone did something about it?

While the big news focus always seems to be on whether they pass on Reserve Bank interest rate cuts, the real story is in the high fees they continue to charge at will.

The Sunday Telegraph yesterday revealed the true costs to banks for such things as you breaking your credit limit or having a direct debit bounce back.

While you get slugged up to $35 for such misdemeanours, the cost to the bank at the worst is less than a dollar.

So why do we get charged so much and how can they justify it?

It is because the banks care for no-one but themselves and the profits they make.

Every quarter we hear about record bank profits, yet they continue to crush the battler with exorbitant fees.

Have you looked at the interest rate you are now paying on your credit card? …

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