Transaction account fees dive

Australian households paid $4.25 billion in fees to banks last year, down 16 per cent from $5.1 billion in 2009.

Business fees went up by $838 million.

The total fee take by banks in 2010 was $11.1 billion, about the same as in 2009.

The Australian Bankers Association said a dramatic fall in fees on transaction accounts contributed to the fall in household fees.

Source: Herald Sun

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