Fee changes to all transaction accounts

Almost all banks, credit unions and building societies have announced changes to the fees they charge their credit card, loan and account customers. Now may be the time to review your banking relationship, have a look at the deals that are out there and think about moving to institutions that offer the best deals.

Westpac have set all their penalty fees for accounts and credit cards at $9. Commonwealth Bank have lowered their exception (penalty) fees on accounts to $6 and $10. Credit card exception fees are $25. From December, ANZ’s account exception fees will be $6 and credit card fees $20. ANZ has raised their monthly account service fees from $5 to $6. After January 22, NAB will charge only $5 for a late payment on a credit card. All other NAB penalty fees have been abolished.

Source: Courier Mail