Bank fees ‘unfair’, customers say
Australian banking customers are being charged six times more than they think is fair, prompting an eleventh hour call for overcharged NAB customers to join a class action.
The data came courtesy of Lonergan Research, on behalf of Financial Redress, and found the average customer thought $3 per month was a reasonable amount to pay to banks, but their actual average cost was $8.70.
Dishonour fees attracted the greatest negative reaction, with 42 per cent of the surveyed 1000 customers labelling them unacceptable.
Two in five said a reasonable solution would be for banks to prohibit them from being able to overdraw their accounts.
In response to the findings, Financial Redress has encouraged customers to join its class action, which closes today at 4pm.
So far more than 40,000 have joined the case, it said.
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