CBA to put fees on internet banking

[TomL]

The quality of service I expect far outweighs any piddly transaction fees a bank could charge.

Speedy processing, knowledgable personal banker, free revaluations etc etc are worth far more to me than lower transaction fees.

I get excellent value out of CBA, StG and NAB. I have no problem with any of these - we have sacked 2 personal bankers in the past and i'm happy currently with the level of service I get from them now.

StG particularly seems to go out of their way to give me great service. In one instance I was astounded how helpful they were. Worth every cent.

If you have a problem with the fees and charges but are getting great service, great facilities and problem free interaction, then I suggest you are looking at the equation wrongly.

I can understand that the average punter could complain about fees and charges. We are not average punters.

Something to consider anyway.


T.

 

[Mikhaila]

Could you expand on this a little?T

Keithj answered it already. I get $100(DJ, Myer voucher) back on every $13,500 I spent on ANZ Gold Visa. We pay our credit card always on time thanks to the internet banking scheduling facility, so bank pays us for the privilege. I am happy.

 

[Sunfish]

Keithj answered it already. I get $100(DJ, Myer voucher) back on every $13,500 I spent on ANZ Gold Visa. We pay our credit card always on time thanks to the internet banking scheduling facility, so bank pays us for the privilege. I am happy.

My ANZ card gets Qantas FF points and it's hard to value them but I have flown free a few times on them.

As you say, paid in full, automatically on due date and saves heaps on other bank fees. I love my credit card.

Thommo

 

[Hulkster]

You only need a relationship of around 30k (debit or credit) to avoid most bank fees. The hardest hit are the customers that are the most expensive to have (read - least valuable). They have a high transaction - low balance relationship with the bank.

I don't begrudge the banks charging fees - they provide a service and it isn't written anywhere that it is or should be a free service. No different to any other service industry.

 

[Sultan of Swing]

Yep Hulkster, I had 30 K in mind for CBA, I think I read it quite a while ago in the fine print.

The new CBA NetBank has got some good new features. I remember Duncan saying he wanted to be able to name each account, they must have got his email. And you can now check all transactions on homeloans too.

I've still got to surf the whole site to see what else is new.

Cheers

 

[Peter 14.7]

Hi All

I see the CBA Wealth Package has come to light.

It is pretty good although I have never sacked my premium banker which I should have once. I always get ladies who get pregnant and move on. So I probably will not pay the fee.

My point re the fees is the Hypocrisy in stating we have to close branches because of costs but go to Internet and it is all free. Now they say costs has nothing to do with it.

I know I am asking the impossible but I would like some businesses to be honest and not treat consumers like idiots with some lame "spin".

Maybe the solution is every twelve months to go feral and threaten to leave and they will cough up the goodies. But you simply should not have to. Why not reward loyal profitable customers instead of screwing them.

Regards, Peter 147

 

[Hulkster]

Hi Peter,

This is the age old business practice. Every major company I know of pours millions into acquiring new customers and enticing them from competitors (industry is irrelevant). They spend very little on retention of customers, and the most attractive offers are for new customers only.

It is far more expensive to acquire a customer than it is to retain one, and it's a fine balance between what you can offer a new customer without pissing off too many existing ones so they leave. It's only when a pattern in churn appears that action will be taken towards the existing customer base. The way to get the best deals is to continually churn - but then you have break costs, so you get locked in either way.

Bastards!

 

[Peter 14.7]

Hi Hulkster.

Yeah... Probably do this because they pay bonuses to reps on new customers being poached rather than keeping good ones.

Peter 147