FED: Consumers still paying despite bank fee savings

AAP General News (Australia)
08-03-2009
FED: Consumers still paying despite bank fee savings

Federal Financial Services Minister CHRIS BOWEN has welcomed a decision by Westpac
and Saint George banks to reduce their penalty fees.

The banks have cut exemption fees from about 45 dollars to nine today .. for across-the-board
transaction penalties .. including dishonoured debts .. overdraws and late credit card
payments.

Mr BOWEN is calling on the other banks to follow suit .. including further action on
mortgage exit fees.

AAP RTV cj/rl/ka

KEYWORD: WESTPAC CHOICE (CANBERRA)

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