NAB to raise fees and shut branches

The National Australia Bank has announced its intention to raise its bank fees and to close 100 of its metropolitan branches. The exact branches targeted for closure is yet to be revealed. Bank fees for ATM, telephone, internet and over-the-counter transactions will increase from December 1. At present, transactions made online or over the phone are free. However, a charge of 20 cents per transaction to access account balances or to transfer funds online will apply from December. Telephone Banking will incur a 20 cent fee for each account balance and a 60 cent charge for a funds transfer. An ATM funds transfer, currently free, will cost 60 cents and a 10 cent increase, from 50 to 60 cents, will apply to withdrawals. Over-the-counter transactions will jump by a dollar from $2 to $3.