Banks urged to scrap unfair fees

Mozo

Thursday 03 March 2011

Aussie consumers who are currently comparing bank savings accounts online could be among those interested in a new campaign aimed at improving customer services at the country's banks.

Banks urged to scrap

Consumer group Choice has launched a campaign that it hopes will see financial institutions scrap "unfair fees", improve their customer services and cease using "dodgy computer systems", the Courier Mail reported.

Christopher Zinn, a spokesman for the organisation, told the newspaper that the country needs to see a change in the culture of its banking industry.

"There is a definite groundswell of feeling growing among consumers that this sort of behaviour is not good enough and the role for government is to listen to that voice," he commented.

"Over the years we've seen the banks become tougher, harder and more market-driven. They've instituted penalty fees that were frankly unconscionable and which targeted the most vulnerable, the people who couldn't afford to pay late payment fees."

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