NAB raises account charges: [2 Edition]
Stapleton, John. The Australian [Canberra, A.C.T] 18 Dec 2001: 6.
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Abstract
The personal transaction fee threshold, the amount of combined loan and deposit balances below which the fees apply, will increase from $20,000 to $35,000.
The dishonour fee, if a personal cheque bounces, has been increased from $45 to $50. The fee for periodical payments, such as for rent or other obligations, rises from $3 to $5.30.
THE National Australia Bank has raised its fees on a wide range of personal accounts and services.
The increases will be phased in early next year.
Notification of the increases will be made in advertisements in main daily newspapers today.
The bank's profits for the year ending September 2001 were down 36 per cent to $2.083 billion.
Half of those using personal transaction accounts, about one million people, will see their monthly fees rise by $2 to $6.
The personal transaction fee threshold, the amount of combined loan and deposit balances below which the fees apply, will increase from $20,000 to $35,000.
Monthly loan service fees also rise to $10 from $8 for fixed and variable rate unsecured personal loans.
Home loan service fees also move up $2 to $8 each month.
Australian Financial Services chief executive Mike Pratt encouraged customers to speak to National staff about how to minimise fees.
The dishonour fee, if a personal cheque bounces, has been increased from $45 to $50. The fee for periodical payments, such as for rent or other obligations, rises from $3 to $5.30.
Customers under 18 years old can make fee-free transactions. The maximum transaction fee for disabled customers has been reduced.
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