Other banks reject more fee cutting

Consumer advocates and the federal government yesterday called for the other big banks to match NAB and abolish monthly account keeping fees.

"There's no doubt there's a far better deal on fees and charges out there from one bank today," the Treasurer Wayen Swan said yesterday.

Consumer group spokesperson Elissa Freeman warned other banks to match NAB or lose customers.

ANZ will maintain the "status quo" from its last round of fee cuts and has no current plans to match NAB said a spokeswoman.

Westpac’s Jane Counsel said Westpac had gone further than NAB with cutting fees, particularly credit card penalty fees. "NAB hasn't announced anything on its business customers," Ms Counsel said.

Commonwealth Bank said they were always competitive on fees.

Source: The Australian

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