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NAB abolishes monthly account fees
16 October 2009 |
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| National Australia Bank announced the end of monthly service fees on everyday personal transaction accounts yesterday.The current $4 and $5 monthly account service fees on NAB's Classic and e-Banking personal transaction accounts will not be charged after Friday, 22 January 2010.The other big banks have their monthly account service fees, on their chief account options, currently set between $3 and $6 for everyday accounts.Monthly account service fees will also disappear from passbook accounts, the Clear Banking account and seven other NAB transaction accounts. Branch withdrawal fees will also be cut from cheques and e-Banking accounts.The $10 monthly fee on NAB’s premium personal account will remain in place, matching Westpac and ANZ who also charge $10 per month for a premium personal account.National Australia Bank’s Personal Banking Group Executive, Lisa Gray, said yesterday’s move was a result of extensive customer research.“Customers tell us they think these fees are unfair. These are the most complained-about fees we have and this will certainly help us improve our relationship with customers.”NAB will be making more fee-cutting announcements “sooner rather than later” said Gray, who is now focused on cutting fees on business banking accounts. |
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| Source : The Sheet |
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| 30 October 2009 | - NAB could move raise rates up |
| | - ANZ backs away from no rate rise commitment |
| | - Westpac says: talk to our branch manager |
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| 29 October 2009 | - Investors flock to property but fear rate rises |
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| | - ANZ lives in your world |
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| 28 October 2009 | - Switch banks and save $4,300 |
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| | - Westpac says rates may have to go up |
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| | - Personal loans a good alternative to cards |
| | - High income earners like Westpac |
| | - Commonwealth upgrades Netbank |
| | - Netbank gets better for business |
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| 27 October 2009 | - Big banks can’t rule out big rate rises |
| | - MacBank to sell Bendigo home loans |
| | - We lend responsibly say ANZ |
| | - Home buyers fear missing out as prices soar |
| | - Climate change threatens homes |
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| | - Business turning against NAB |
| | - Your info is safe say banks |
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| 26 October 2009 | - ANZ rules out rate increases |
| | - Big banks raise fixed rate loans |
| | - Melbourne boom to push rates up |
| | - Amazing Melbourne auction results continue |
| | - Customer info being sent overseas |
| | - Bank investors brace for earning season |
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| 23 October 2009 | - Make your money work for you |
| | - Rates could hit 10% in 2 years |
| | - Big banks bounce back |
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| | - ME bank opens more Melbourne branches |
| | - Scam phone survey targets bank customers |
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| 22 October 2009 | - House prices to double |
| | - RBA divided on rate rises |
| | - Rate tipped to rise by 0.5 per cent |
| | - Bendigo most popular bank |
| | - South West Credit open for lending |
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| 21 October 2009 | - Contactless cards cause confusion |
| | - Online brokers cut prices |
| | - ANZ puts retirement bankers in every branch |
| | - Low interest loans get a boost |
| | - PayPal card coming soon |
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| 20 October 2009 | - Term deposit rate tactics vary |
| | - Vendor boost attracted 60,000 more buyers |
| | - Customers generating cash |
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| | - Split rates decision at NAB |
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| 19 October 2009 | - one direct scrapped by ANZ |
| | - UBank: the last of the big bank online brands |
| | - Wave to pay |
| | - AMP wants fewer shareholders |
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| 16 October 2009 | - Seven more rate rises coming soon |
| | - NAB opens the door to big rate rises |
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| | - Other banks reject more fee cutting |
| | - NAB playing catch up in deposit market |
| | - Bank of Queensland has big ambitions |
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| 15 October 2009 | - Home loan borrowers go back to basics |
| | - Borrowers turn against fixed rates |
| | - Voiceprint coming to NAB online bank |
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| | - Your credit file is about to get screened |
| | - Pay with a wave at IGA supermarkets |
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| 14 October 2009 | - Don’t get caught out with interest rates increases |
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| | - Aussie John says check your rates |
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| | - St George on go slow |
| | - Fake mortgages net millions |
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| 13 October 2009 | - St George launch savings account for Gen Y |
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| 12 October 2009 | - Extra credit card benefits without the extra cost |
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| | - Westpac deposit rates hit new high |
| | - RAMS adds extra to rate rise |
| | - Sydney auctions bouncing back |
| | - ANZ cuts more account fees |
| | - CBA selling women’s diary |
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| 09 October 2009 | - Mortgage repayments to rise by $355/month |
| | - Rates rise across the board |
| | - Cards and business loans go up |
| | - Banks boost online savings rates |
| | - CBA says do you need a loan extension? |
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| 08 October 2009 | - Rate Rises - what are the major lenders doing? |
| | - Rate rises: CBA refusing to go first |
| | - CUA tops customer satisfaction survey |
| | - Investors sense the bottom of the market |
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| | - CUA losing members |
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| 07 October 2009 | - Prepare for Rate Rise or Risk Needing a Second Job |
| | - Mortgage rates set to rise |
| | - Term deposit rates at record highs |
| | - Time to end low interest rates says Stevens |
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| | - Many more rate rises to come |
| | - Complaints soar about mortgages and margin loans |
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| 06 October 2009 | - Less competition in banking |
| | - Auction continue to deliver results |
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| 02 October 2009 | - Banks deny rate rise plans |
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| 01 October 2009 | - CUA think pink to support breast cancer research |
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