Banks push for fee increase

April 16, 2006

News.com.au: The massive fee grab by Australian banks could get even bigger. The top four - the NAB, Commonwealth, Westpac and ANZ - plus junior player St. George are considering a fee increase up to 9 percent across the board. The banks already reap almost $4 billion a year from transaction accounts. A 9 percent rise would add another $360 million to the banks' coffers each year.