Credit card late fee class action

Maurice Blackburn will today lodge a class action lawsuit against several banks.

Credit card late fee class action

Law firm Maurice Blackburn will today lodge an open class action lawsuit against ANZ, Citibank and Westpac over credit card late fees with lawsuits against NAB, American Express and the Commonwealth Bank expected to follow.

The lawsuits come after a February victory against ANZ where the judge ruled that the bank’s late credit card fees were excessive and unconscionable. Unlike previous class actions, which have required people to register for a claim, Maurice Blackburn has gone forward with open class action lawsuits to represent every affected customer Australia wide.

A sticking point with ANZ in the February 2014 ruling is that the judge, Justice Michelle Gordon, waived the usual six-year time limit on legal action, saying that there was no restriction on how far back the claims could go, as potential claimants did not know the fees were unlawful until the lawsuit was lodged in 2010.

The new lawsuits are to be funded by litigation funder Bentham IMF, which plans to take 22.5 per cent of any winnings, subject to court approval.

Read more from Ninemsn.
Read more from The Age.

Opinion: Fighting back

For decades banks have been gouging customers with late fees and over the limit charges, and it felt as though there was no end in sight as they continued to implement and increase these fees. All of this changed in February 2014 with the ruling against ANZ. The ruling did throw out the claims against some of these fees and charges after evidence revealed the true cost to the bank of such issues, but the credit card late fee has finally been exposed as the cash cow it really is.

In the February 2014 case, Justice Michelle Gordon noted that the cost to the bank was as little as $0.50 when a late payment was made, but ANZ was charging late fees of up to $35. This case, and hopefully the class action being lodged today, will continue to keep the banks and credit card institutions in line to give us all a fair go.

What do you think? Are banks greedy? Should the banks be made to do more than just pay the money back after applying fees which have been found to be unconscionable?





    COMMENTS

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    iamnotold
    12th Aug 2014
    10:03am
    If people paid their bills on time this would be a non issue.
    Helen-gran
    12th Aug 2014
    11:10am
    Agreed. These fees, like speeding fines, are quite voluntary. Organise yourself, don't speed & no payment is necessary. I think it's the lawyers who are very greedy!
    Theo1943
    12th Aug 2014
    11:27am
    That's quite a high horse you're sitting on. Regardless of whether people should pay their bills on time or not, when they didn't the banks generally charged them around $35 for an overdrawn fee when their actual cost was about 5 cents. They didn't even give people the option to have the payment rejected at the point of sale. Not everyone knows exactly how much is in their account.
    LiveItUp
    12th Aug 2014
    12:16pm
    Agree pay your bills on time non issue. Personally I can't see the difference between paying your bills on time and getting a discount as opposed to being fined for late payment.

    I see it as your responsibility to know how mach is in your bank account. It is no different to knowing what cash you have in your wallet.

    People need to take responsibility for their own financial affairs. It's a simple as that.
    KSS
    12th Aug 2014
    12:38pm
    I agree here too. Theo1943 ignorance is no defence. People are responsible for their own financial affairs and it is up to them to know the balance of any account they hold. This cannot be outsourced! Banks send a statement at least monthly the least people can do is actually read it.

    Personally I have never paid any bank fees, no late payment fee for any bill from any source nor any interest on credit card accounts. Bank have made no money out of me ever.

    Helen-gran I agree with you about the lawyers. 22.5% take of any recovered fees is ridiculous. Further they are not representing specific people here but are taking this action as a 'job lot'. This means if you happen to bank with one of those they are suing and you are deemed a refund, even if you did not know about the law suit, you would have to pay them $7.88 for every $35 late fee you paid. Now multiply that by the number of bank customers who may have paid the fee. Nice work if you can get it!
    Tom Tank
    12th Aug 2014
    12:47pm
    There are times when it is not possible to make the payment in time, e.g. pay is late going into a bank account. Payments made by the internet disappearing into the ether. Sometimes it is simply a cash flow problem.
    Perhaps the earlier contributors don't have cash flow problems but some people do.
    I write this as someone who has never had a late payment fee charged against me but that doesn't mean I don't sympathise with those who do.
    The banks gouge their customers outrageously and proved themselves to be immoral and unethical. I hope the class action succeeds and the massive bonuses to bank executives suffer because of it.
    KSS
    12th Aug 2014
    1:00pm
    Tom Tank it is still about personal responsibility. If you make an internet payment that does not show on you account you will NOT usually be charged a late fee if you can show you made the payment but it went elsewhere. As for excuses such as pay not going in to the account - all the advice is that you should have a 'buffer' of up to six months expenses on hand for just such eventualities. You can't spend what you don't have. Its called theft if you do. Failure to plan is planning to fail.
    Tom Tank
    12th Aug 2014
    3:34pm
    Goodness me KSS you obviously live at a different level to me if you have six months expenses to call on at any time.
    I don't think I know many people who fit into that category.
    I agree planning is the key and but circumstances can intervene, "The best laid plans of mice and men".
    KSS
    12th Aug 2014
    8:22pm
    Yes I do but it does take discipline and I forgo many things to do so. And there have been times when thank goodness I did. Three rounds of being made redundant in the last 15 years are good examples. I am responsible for me, I have no family to rely on and no partner either. If I don't look after me who will? Working for a NFP NGO I do not earn the big bucks either but like many others here, I do what I have to do.
    Hawkeye
    12th Aug 2014
    11:28pm
    Well, what a bunch of self-righteous wankers.
    Even when you set things up to be foolproof, the banks find a way to charge their penalty fees.
    I had set up automatic payments to pay double the expected minimum payment each month to ensure that I couldn't get a late fee.
    This worked well for quite some time until suddenly a $25 late payment fee appeared on my statement, because the bank had not processed the automatic payment.
    Down to the bank to complain. Turns out it was MY FAULT that the bank had shut down their system for maintenance on the night my automatic payment was due. And it was MY FAULT that the payment was not processed. And it was MY FAULT for not checking that the bank had actually performed their duty and made the payment.
    So, because it was all MY FAULT, the $25 fine would stay.
    That was until I asked for the forms to transfer all my Savings Accounts, Term Deposits, Business Accounts, Mortgages, and Credit Cards to the other bank across the road. The $25 fine was suddenly gone.
    I often wonder how many thousands of others copped a similar fine that night, and paid up without complaint. What a money spinner.
    MITZY
    12th Aug 2014
    10:10am
    Credit card fees don't really worry me as I only use the card to pay my phone, internet and newspapers each month. I know what the cost will be and pay it on time each month.
    However, what bugs me is that for many years before most "oldies" used the internet to pay their bills, the Deeming Account for pensioners at my bank has consisted of 8 free transactions before they start charging their fees of various amounts.
    It takes no time at all in this modern era to clock up the 8 free transactions if you have a couple of bills to pay each month and of course your weekly shopping and cash-out to exist on between times. Some banks don't have limits on transactions whatsoever for pensioners but mine and others have limits. Its such a hassle to go changing banks and my bank is unreceptive to increasing the free transaction limits or providing pensioners with free access to withdrawals. If you have used up your 8 free transactions for the month but need to access your account the fees vary from around 60 cents to $2.50 for a cash withdrawal over the counter.
    Theo1943
    12th Aug 2014
    11:13am
    You really need another Bank. Who are you with now? Tell them you are not happy and will change banks unless they give you a fee-free account. We're with Westpac and have no fees on our "Basic" account.
    MITZY
    12th Aug 2014
    11:58am
    Hi Theo1943: I'm with Westpac too. The deeming account pays interest of 0.75% on amounts from 0 to $2,000. From $2,000 to $41,000 it pays 2.00% and it has the restriction of 8 free transactions per month.
    The Westpac Choice and the Westpac Choice for Concession Holders doesn't pay any interest at all but gives no limit on transactions and basically no fees.
    The Westpac Savings Accounts have better interest but charge fees for withdrawals and one of the savings accounts insists on a $50 deposit before the end of each month to get a couple of points more interest than the norm.
    The Westpac Term Deposit is not much better than their savings accounts as far as interest goes, but you have to have a minimum deposit of $5,000.
    Unless you are a pensioner with a good deal of savings, you don't fair very well with any bank. I don't have a lot of savings at present, I'm trying to recoup after a big repair bill on my motor car which needed a new head gasket etc. and cost me $2,888.40 plus a new battery two weeks later, plus my car insurance/third party/pink slip/ etc. etc. a further three weeks later.
    At the moment I'm being very stringent on my spendings but one thing I don't compromise on is my healthy eating and lifestyle.
    Theo1943
    12th Aug 2014
    12:13pm
    Hi Mitzy, go to the bank and open a Basic account and use it only to get cash and pay your bills. It comes with a debit card which you can use in the bank, at ATMs, or to pay your groceries via eftpos. There are no charges for this account, you can make as many ATM, eft and in the bank transactions as you like. You should just transfer enough money into it that you need to keep your deeming account as high as possible. They really should have told you to do this but then, they're banks.
    MITZY
    12th Aug 2014
    12:20pm
    Thanks Theo1943 that is definitely a better option for me.
    Theo1943
    12th Aug 2014
    12:33pm
    Mitzy, you should cancel your deeming account and open an esaver. It pays 2.5% on all amounts and you can transfer money easily to or from your basic acount online. If you have more than $40,000 you should put that extra money into a Term deposit, currently paying 3.3% for 12 months.
    KSS
    12th Aug 2014
    12:47pm
    Hi Mitzy When my bank had a similar ruling about the number of permitted fee free transactions, I simply adjusted the way I operated in order to avoid the fees. For example, where there is no fee for paying by credit card, pay as much as you can on the card then make a single transaction each month to pay it off. Don't take cash out at an ATM or over the counter, do it when you pay for your groceries at the supermarket - that way you get effectively 2 transactions in one. Or if you do use ATMs, only use the 'home' ATM not those of another bank and take out say 2 weeks money not one. That way you only use 2 transactions a month not 4. Add up all the bills and withdraw cash to cover the total then pay the bills at the post office! There are many ways to avoid these transaction fees without changing banks or accounts if you don't want to. It just means you have to get creative. After all its YOUR money and better in you pocket than the bank's.
    MITZY
    12th Aug 2014
    3:06pm
    Thanks Theo1943: I would love to have an extra $5,000 to put in a term deposit, but no such luck. I've had a look at the eSaver and it seems fine.

    Thanks KSS: I used to be more organised a few years back and never had one transaction fee over the 8 allowed with Westpac, but the last few years I've hardly had time to think as my husband was very disabled with MS
    MITZY
    12th Aug 2014
    3:11pm
    for 24 years and the last 8 years needed a lot of attention. However, I will endeavour to sort myself out.
    Hawkeye
    12th Aug 2014
    11:53pm
    MITZY, don't get a debit card.
    Get a Credit Card with a Free Days and a good Rewards scheme (NOT FlyBuys). Use the credit card to pay everything you possibly can, to maximise the reward points earned. Ensure you pay off the complete balance each month, so no interest is ever paid. Redeem the reward points for cash.
    I use an ANZ Platinum Rewards Account, which comes with both a Visa Card and an Amex Card. The Amex earns three times as many points as the Visa, but is not accepted at a lot of places.
    Anyhow, using the above method, I pay no interest, and approx every 3 months I get a $100 redemption for my rewards points. So, the bank pays me for using their money.
    Also to pay the credit card bill is only one payment each month, which helps if your savings account imposes limits on number of transactions.
    I would also get rid of the deeming account. The ANZ On-Line Saver has no fees, no transaction limits, and currently pays 2.5%
    particolor
    12th Aug 2014
    10:22am
    Are Banks Greedy? ..Is Honey Sticky ??
    Kato
    12th Aug 2014
    5:39pm
    Ask the bear that sit's in the Canberra woods.
    Mar
    12th Aug 2014
    11:28am
    Never been with a bank,prefer a credit union.
    Theo1943
    12th Aug 2014
    12:23pm
    Just be sure they're not owned by a Bank. A friend didn't trust banks with his super so opted for Asgard Superannuation using Australian Financial Services as his advisers. Asgard is owned by BT, which is owned by Westpac. Aus Financial Services is also owned by Westpac. Banks have been buying up Credit Unions so that they can be open on Saturday as Credit unions can be open on Saturday but banks can't.
    particolor
    12th Aug 2014
    3:41pm
    WHO Owns YOUR Credit Union ?? Why the Big Bad Wolf !!
    FrankC
    12th Aug 2014
    12:17pm
    I pay my credit card payment on the day it arrives at my home. On only two occasions have I been late over the past 18 years , which caused them to send me a SMS to tell me I am late and please make a payment today or tomorrow, or I will be charged a late fee. I do all my other banking with Bank of Queensland, and there aren't any limits on the number or type of transactions with a Pensioner account.
    ourjeffie
    12th Aug 2014
    12:20pm
    Are banks greedy?

    Does a bear sit in the woods?
    particolor
    12th Aug 2014
    3:44pm
    Yes!! To Smoke His Cigar !!
    Kathleen
    12th Aug 2014
    1:12pm
    Banks are greedy! They make billions from the super funds accounts. They really do not put back enough into the country they derive their wealth from. They overcharge when they can get away with it. They must remain viable for sure but they could contribute more to be fair. Other large corporations are also greedy and not targeted by this LNP government for funds when it is far easier to grab from the lower end of society.
    TerryJ
    12th Aug 2014
    1:52pm
    I think you all miss the point. I don't think charging a late or overdrawn fee is the problem because all of the commenters here are correct - it is up to you to know what is going on in your accounts. The issue is the amount of the fee $35 for a cost of $0.50. OK add postage for the letter that is sent out and maybe an 'administrative fee of say $2.50 (just like using a non ATM) and that makes the fee a more reasonable $3 or $4 dollars per instance - not ten times that amount. That is where the 'unconscionable' act comes in to it.
    Grateful
    12th Aug 2014
    2:05pm
    Clearly we have very many very righteous readers of YLC? Never had a late payment!
    "Walk a mile in my shoes" sounds very appropriate with this subject.
    TerryJ
    12th Aug 2014
    3:30pm
    Just to clarify Grateful, I HAVE walked a hundred miles in those shoes before. I accept responsibility for an overdrawn account and I understand the need for a deterrent but I just can't see how they justify a $35.00 fee which is 7000% more than the claimed $0.50 cent cost of the overdrawing costs.
    particolor
    12th Aug 2014
    3:38pm
    Can You claim it as Out of Pocket Expenses on Your Tax ??
    Kato
    12th Aug 2014
    5:30pm
    Try the NAB I made a payment before the due by date, and got charged a non payment fee plus a late fee. Seventy Dollars thank you, upon querying this I was advised that paying before the due date is classified as a payment towards not as a payment on the due date therefore it was unpaid and late? only banks who have laws
    backed by government can get assay with such thievery.
    Kato
    12th Aug 2014
    5:38pm
    away also.
    KSS
    12th Aug 2014
    8:05pm
    Wow Kato. I also bank with NAB and almost always pay bills a day or two early. I have never been told this nor have I ever been charged or paid fees. I would certainly jump up and down and make a fuss if they tried that with me. Outrageous!
    Kato
    12th Aug 2014
    8:35pm
    outrageous most certainly, that is why I don't bank with them anymore. I have placed it in the hands of the Banking Ombudsman. And have been advised It takes about six weeks.
    Kezzo
    12th Aug 2014
    2:23pm
    It is about time the public fought back against the banks ... They changed the date of my payment without notifying me and it cost me a late fee ...30+ dollars
    retroy
    12th Aug 2014
    2:42pm
    Are Banks greedy, well I do not think that is a fair descriptor.
    A more accurate and fair descriptor would be legalised thieves.
    When you deposit money with a bank you used to be able to expect the best going interest rate, but the banks differentiate between a person who walks in off the street and a super annuitant such that the super-annuitant (old person) gets a lower rate than the new customer.

    I have asked the banks why they rob old people and do not give fair rate, and they reply "its because it is a different product".

    They used to give you a premium for loyalty but that is gone too so I have decided to just go to the best payer at any one time.

    One bank manager said to me "we would like to think you would stay with us" to which I replied "you give a new customer a higher rate than me, so match it".
    You can guess the response........zilch.
    Like Australian supermarkets, Australian banks are the most profitable in the world, so as much as I dislike the activities of ambulance chasing lawyers, I hope they take the pants off them.
    Hasbeen
    12th Aug 2014
    3:22pm
    Yep retroy, I find it is the same with insurance companies. You have to change them every couple of years, as they all discount to buy new customers. Stay too long & you'll be ripped off.

    I can't understand anyone, particularly oldies, who have credit cards. By the sounds of it there are a couple on here disciplined enough to handle them properly, but for most they are a trap.

    If you can't manage without one, you are going to have even more trouble when you add interest costs to your expenditure.

    Being lazy I have a debit card. I pay for a fortnightly shop, & draw my cash for the fortnight at the supermarket. I allow myself enough for fuel local bread/milk shopping, & a bit for fun. The rest stays in the account, & is never touched for anything but the fixed bills, rates, power, insurances, registrations, etc.

    By leaving $400 a fortnight this builds up over time. Each time it reaches $5000 I transfer $200 to my fun a/c. The big fun a/c may have to pay for tyres, head gaskets & such, but I find the fun money in my wallet often builds up enough to cover these things.

    I'm lucky perhaps that I don't smoke or gamble, & drink very little, as I just don't find these things attractive. A neighbor who does all three, even though not to excess, is always short of money, & struggling.

    It is so easy my way, you never have to even think about money. I have replaced a washing machine, & a 12,000 water tank this year, & the money was there for them, without any special effort.
    Hasbeen
    12th Aug 2014
    3:26pm
    Sorry. That should have red I transfer $2000 to my big fun a/c, when my main A/c reaches $5000.
    particolor
    12th Aug 2014
    3:35pm
    Nice to hear someone's got a wallet worth finding when You drop it !! Nowadays !!..
    WOW !!! Enough for 4 New Tyres in Here !!!
    unicorn
    12th Aug 2014
    3:13pm
    Sometimes it is a matter of Late StaTEMENTS FEES PAID OUT BY YOUR BANK WHICH PEOPLE HAD NO RIGHT TO CLAIM. which has happened to me with the threat that I had to pay first before asking for a Satetment, so it is not as easy as you state lamnotold.
    Young
    12th Aug 2014
    4:17pm
    I have never had to pay a late credit card fee because I paid all charges within the month.
    I was organised.I always withdraw from my own bank and only withdraw without going over the limit.
    Those who ignore the rules deserve what they get.
    unicorn
    12th Aug 2014
    5:03pm
    I had also paid everything I knew of but Iam afraid when unscrupulous companies charge you money they have no righ to it makes i very difficult. As a result I cancelled my credit card abd no use a visa acccount which is connected to my savings, so no sweat I never pay anything which I do not need to and my bank knows it I hAVE CANCELLED THE ACCCOUNTS i HAD WITH MY FORMER cREDIT cARD SUPPLIER. -
    Kato
    12th Aug 2014
    5:34pm
    see he said so.
    Banks aren't bastards, says NAB boss. Outgoing National Australia Bank chief executive Cameron Clyne rejects the assertion that banks are bastards. as he swaggered off with a nice boneass.
    Kato
    12th Aug 2014
    5:36pm
    https://au.finance.yahoo.com/news/banks-arent-bastards-says-nab-023227922.html
    Not Senile Yet!
    12th Aug 2014
    7:47pm
    You all missed the point.....these banks are supposed to be regulated by OUR Government......yet they are allowed by OUR Government to charge as they please whilst making record profits!!!!
    The late Payment Fee does not need to be so high and the Government is responsible for allowing it to happen.....the banks do not have self-regulation....like in the USA.....but the Government is not keeping tabs on what they are doing!!!!
    Regulation is there so they are accountable......but the Government is not carrying out it's due diligence!!!
    Sad that a Law Firm has to take them to account!!!
    When we went to electronic payment of wages into banks.....the Government of the day should have removed all fees from accounts because it gave the banks a monopoly over wages and incomes of 100% of Australians!!! They make enough as it is but immediately after that event the big 4 went on to increase their profits every
    year.....even when the world economy hit rock bottom....our banks stayed profitable!!!
    Yes I hope the knock the living daylights out of the big 4 because they are ruthless in their greed!!!!
    KSS
    12th Aug 2014
    8:15pm
    Unfortunately Not Senile Yet, the Government does not have the power to dictate to bank what their fees should be. Nor what their interest rates should be. The banks can and do set their own rates. This has become even more clear since they 'divorced' themselves from the Reserve Bank. It is the customers who have the power but most will not exercise it - that is change banks/financial institution. Only if they lose enough customers will they sit up and take notice. The only consolation is that most super funds invest in banks so when the banks make a profit and it goes to the shareholders, the super funds and therefore their customers also benefit.
    Kato
    12th Aug 2014
    9:28pm
    and on a completely different note.www.getup.org.au.
    Get this,

    Today, the IPA released a report purporting to uncover "media bias" in the ABC's reporting on coal seam gas, mining and renewable energy, calling for our popular and iconic public broadcaster to be privatised as soon as possible.

    We actually had a good laugh, until we realised – this is no joke.

    As we all know by now, the right-wing think tank just happens to be supported by the likes of Rupert Murdoch and Gina Rinehart. Can you you think of two people who would benefit more from a privatised ABC and more sympathetic mining rhetoric in the media?

    The scary truth is right now we are watching the IPA's radical conservative agenda become a reality before our eyes – from the dismantling of the carbon price to a budget that elevates big business over everyday Australians. Its seemingly impossible wish list of 75 conservative items has been rapidly ticked off as our Prime Minister adopts them with abandon, even comparing the work of John Roskam, the head of the IPA, and his staff, to Jesus and his 12 disciples.1

    The IPA's report hides behind unfounded and ill-intentioned claims of "media bias". But it's not difficult to see what their real agenda is: privatising the ABC and thwarting our burgeoning renewable energy industry in favour of fossil fuels. https://www.getup.org.au/ipa-vs-abc
    So – what are we going to do about it? What we always do. We're going to counter and frustrate their big-donor funded right wing agenda with bigger, deeper and more far-reaching campaigns, just like we've worked to block the worst of their budget measures in the Senate. We'll hit the streets, airwaves and online in every strategic electorate in order to prevent them from privatising the ABC, just as we stopped them from slashing and burning the bulk of their public funding. We'll turn out numbers Australia has never before seen, just like we've done time and time again on the issues GetUp members care about.

    But we won't stop there – we'll also work with those members to mobilise their own electorates, get their neighbours and friends involved and organise for lasting, long-term change. And we'll fight fire with fire by working with independent think tanks to commission studies into the IPA's misleading claims about the renewable energy economy and mining.

    https://www.getup.org.au/ipa-vs-abc

    The IPA is Australia's wealthiest private think tank, supported by members including coal barons, media moguls and business executives who will stop at nothing to make Australia serve their interests.2 Just last week, they launched a fundraiser to attack anti-discrimination laws and boasted of raising $10,000 an hour for three hours.

    The truth is, with Murdoch-owned media accounting for around 70 per cent of daily newspaper coverage,3 it's hard to find an unbiased source of reporting on the issues GetUp members care about most. In fact, The Australian has repeatedly been found guilty by ACMA of "very serious" errors in their reporting on climate change.4

    By comparison, review after review has cleared the ABC of any bias, the most recent finding it "was impossible to detect any actual 'pre-judgement' or personal positions of interviewers in this sample".5 So it doesn't take a rocket scientist to figure out why the IPA and their friends felt the need to commission their own.

    Fortunately, the conservatives aren't the only ones with an agenda for our future. Our movement exists to stand up for those who can't speak for themselves and to use our most valuable asset – our 670,000 strong community – to counter cashed-up interests that damage our future.
    Young
    13th Aug 2014
    8:33am
    The ABC has always been pro-labour.
    jaker
    13th Aug 2014
    8:53am
    I say thanks to all those generous people who pay late fees, and I'll tell you how much I thank you when my CBA dividend cheque arrives
    particolor
    13th Aug 2014
    11:32am
    Join the LIBERAL PARTY And You Too Can CROW LIKE A ROOSTER !!...
    Kato
    13th Aug 2014
    1:54pm
    Jaker - something misspelt there methinks.
    Kato
    13th Aug 2014
    1:55pm
    parti - would that be bantam or rhode island mini.
    particolor
    13th Aug 2014
    2:07pm
    "AH Say Boy ! Ah Say !!" "Rude Island Red !!"..
    Radish
    13th Aug 2014
    3:23pm
    LOL, Jaker...as they say there there is "always a silver lining". $5.40 a share was not a bad buy in retrospect, considering they are each worth about $80 now.
    Radish
    13th Aug 2014
    1:46pm
    What galls me is that I always pay all bills well before time usually and yet you never get a rebate for doing so ;).

    Once years ago I was charged a fee for a bank cheque which was dishonoured (an error on my part) but the money was there the next morning to cover the cheque. I did not mind paying a reasonable fee but they charged me $50!

    This got up my craw so as I have been a customer of this bank for over 20 years decided to see how I would go if I asked for the amount to be given back due to my long association with the bank and that there was always a reasonable amount in the account.

    Next thing I knew the money was back in my account. So it pays to give them a ring if you are a good customer.

    The amount of fees they charge are way out of whack for what it actually costs them.

    So far I have never paid fees for my credit card as like some I always pay on time. Paying over 20% interest is shocking and apparently most people, when asked, do not have a clue how much interest they pay. I find that rather strange; surely you would want to know?
    Not Senile Yet!
    14th Aug 2014
    12:16am
    KSS ...you missed my point....when we went electronic with wages....the Government had it's opportunity to address to charges for account keeping.....given that it was a landfall of access to cash above and beyond normal measures.....all the wages...all the time...some simple negotiation could have been instigated.....not a Krudd-like demand....just simple negotiation for a fairer deal for all bank customers! Seems they missed an opportunity to stop unfair gauging....remembering fees and late payment fees.....are where they are Cleaning up big time!
    Example... Late fee is unable to be paid in cash.....it is added to the credit card debt and attracts a further penalty of 19-21% interest as well....total rip off!!!!
    But hey if you own the Banks shares.....it is all good eh!
    How American of you....I am okay...stuff you!
    Greed first...people and fair last eh?
    Wstaton
    14th Aug 2014
    9:31pm
    What I think a lot of people forget is what this fee is for. Irregardless whether someone forget how much they have got left in there account/credit card limit, the banks are not police saying you have br0oken he law so we are going to penalize you and fine you just as if you have broken the speed limit.

    The banks are a business and their responsibility are not to fine you but to calculate how much of a cost to them is it because you have not paid something on time.

    Forget these idiots that say you should manage something and avoid these fines (because that is what they are.)

    I have noticed sometimes in my accounts that a debit is entered in my account and then a credit in the same day after this debit and been charged a fee for over account.

    Businesses should be in the business of recovering expenses because of late payments not giving fines as if they are the police.

    What is despicable about this is not only did they charge late fees they also charged fees for going over your credit card limit and charged interest on the amount over your limit.

    On top of this instead of rejecting any payments that will take you over the limit they deliberately allowed it so that they could charge you these extra fines.
    Radish
    17th Aug 2014
    8:34am
    Maybe people should take the time to read what they entering into when they sign up for a credit card. Credit cards are not for everyone; especially those who are unable to control their spending.

    The terms and conditions are all there.
    particolor
    17th Aug 2014
    10:03am
    I know someone who needn't bother applying for a Credit Card from the Bank of Scotland !!
    ALUNA
    17th Aug 2014
    11:56am
    Hello, Dr LAWRENCE saved my marriage within 3days of contact,i contacted him in regard of my husband who left me for another woman i tried all the methods i know to get him back but to no avail then a good friend of mine Mrs maria introduce me to drlawrencespelltemple@gmail.com who cast a powerful and wonderful spell that brought him back to me in just 3days i really want to use this medium to advice that for solution regarding any relationship issues contact the temple and all your worry s will be gone: drlawrencespelltemple@gmail.com
    Aurora60
    18th Aug 2014
    9:01pm
    I was charged $35 by Bankwest for being one day late on a payment, which I felt was over the top. I rang them and explained I couldn't afford it as I was on Newstart allowance and they kindly waived it. They do have a heart. Sometimes you can't help being late as you're waiting for payment to be made every fortnight on a Tuesday. If the due date falls on a Monday what are you supposed to do? If it happens again I will remember to ring the bank beforehand and make arrangements with them.
    particolor
    18th Aug 2014
    9:20pm
    Send them a Bill for Anxiety !! And Heart Palpitations !!..
    Mer
    29th Sep 2014
    3:46pm
    I transposed a number and made a short payment of $43 and was charged $165 in interest over 1 month, so almost 400% in one month. I thought usury was illegal!!


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