this post was submitted on 03 Dec 2024
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I hope this inspires a massive migration off CBA and a rollback of the policy. Because if it doesn't, the other banks will be sure to follow.

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[–] [email protected] 1 points 2 weeks ago (1 children)

My bank is one of the biggest in my country. They charge a flat rate of like 10-20 € a year normally (+ some extra fees for specific stuff like paying in foreign currencies) which I think is pretty reasonable.

Are the smaller banks in Australia completely free for all ages and with no fees?

[–] [email protected] 1 points 2 weeks ago

Not no fees, but typically no fees for normal use. Most have international transaction fees. Some have fees for things like cheques (which are almost never used in Australia typically), either merely to have a cheque book or for expedited processing. Things like that. But it's quite rare to have a fee just to have your account; that's something mostly only the big 4 still do. They make enough profit off of loaning out your money for interest anyway.