Banks cashing in on 'lazy' customers

We’re all told that if we don’t like or aren’t happy with our banks that we should simply make the switch, yet only 40 Australians per week actually make the move.

Various scandals have seen the banks’ reputations dragged through the mud, and the latest parliamentary inquiry concluded that our “major banks have let Australians down too frequently in too many other ways”.

The reluctance of people to move banks has resulted in a ‘lazy tax’, where banks can literally charge their customers any fees they choose.

Don’t believe us? This series of videos on perfectly depicts the current scenario.

Written by Debbie McTaggart