Bankers
We’ve been talking a lot about interest rates this week. And the 30 per cent of us who have mortgages will be keeping our eyes on news websites today, with ANZ expected to push up its lending rates and the rest of the Big Four banks likely to follow. That’s despite the Reserve Bank keeping the official rate on hold earlier in the week.
Interest rates are just one of the many ways that bankers rip us off. It’s pretty much their job. There’s no such thing as a free lunch (or mortgage) when it comes to the banks. The government can only do so much to protect us. Although in the past few years the federal government has started enacting some consumer-oriented reforms in the banking sector.
But the government could be protecting us much better when it comes to one part of our everyday banking: the fees we get charged when we withdraw our dosh from an ATM that our bank doesn’t own.
Continue reading "Those greedy ATMs gobble up more than your card" »
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