Bank Fees

[Pyromanik]

^ I'd rep that, but I already gave you some.

[Zarkov]

Been in Aus for a month, and bled white every day by Aus/NZ banks.

ANZ in NZ can't begin to explain why ANZ in Aus is ripping me off on every credit  [which is the only convenient option] transaction.

It's deliberately turning a blind eye to the inherent dishonesty involved imo.

[Equity]

I got a platinum credit card today And I pay no fees at all so I cant complain. The ANZ make your own eftpos card is also mean...and free!

[Pyromanik]

Been in Aus for a month, and bled white every day by Aus/NZ banks.

ANZ in NZ can't begin to explain why ANZ in Aus is ripping me off on every credit  [which is the only convenient option] transaction.

It's deliberately turning a blind eye to the inherent dishonesty involved imo.

ANZ NZ and ANZ AU are two separate entities. The systems are incompatible. They only share a common owner.

[Lias]

ANZ NZ and ANZ AU are two separate entities. The systems are incompatible. They only share a common owner.

Don't know shit about banking, so talk slowly. Why the fuck cant a bank that operates in two countries, give you a bank account that works in both countries. It'd be like Vodafone saying "Nah fuck off, no roaming in aussie"

[Virus.]

Student here. Course related costs are keeping my head pretty firmly above water, but if someone in the flat misses a payment and the AP can't go through, boom $15 fee.

[Apostrophe Spacemonkey]

Don't know shit about banking, so talk slowly. Why the fuck cant a bank that operates in two countries, give you a bank account that works in both countries. It'd be like Vodafone saying "Nah fuck off, no roaming in aussie"

It is like Vodafone. Being a NZ Vodafone customer doesn't get you any better deals in Aus even though Vodafone operates over there as well. Still get charged outrageous roaming rates regardless.

[Apostrophe Spacemonkey]

Spoiler :

Do

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you

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know

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what

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I

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hate

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more

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than

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those

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fucking

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greedy

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banks

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?

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That

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Fucking

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Greedy

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Banks

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While I was clicking I was thinking, this better be worth it.


And it was.

[BerG]

I was hoping for some special porn or something.

[Pitchey]

How does a bank pay for their staff's wages, bank properties, the hardware/software for controlling money/investments, electricity to said bank, the paper forms they use etc. etc.

[The Demon Lord]

How does a bank pay for their staff's wages, bank properties, the hardware/software for controlling money/investments, electricity to said bank, the paper forms they use etc. etc.

By charging a higher interest rate on money the lend out compared to the interest they pay on savings that are held with them

Economics 101 brah

[Craigor]

How does a bank pay for their staff's wages, bank properties, the hardware/software for controlling money/investments, electricity to said bank, the paper forms they use etc. etc.

Interest.. *looks at mortgage history*.. yup.. Interest..

[Pyromanik]

Don't know shit about banking, so talk slowly. Why the fuck cant a bank that operates in two countries, give you a bank account that works in both countries. It'd be like Vodafone saying "Nah fuck off, no roaming in aussie"

Reserve bank.
Different currencies.
Different laws.


Also like vodafone.
NZ number, NZ customer, NZ dollars. Connection to external network = roaming, even if it is the same company name.
Once upon a time it used to be roaming if you weren't in the same city as you registered the phone, so just be happy mmkay.

[deanox]

Interest.. *looks at mortgage history*.. yup.. Interest..

Very interesting.

[Tandoori]

Why isn't the Big Mac I buy in New Zealand made of American Beef!

[Pyromanik]

Been in Aus for a month, and bled white every day by Aus/NZ banks.

ANZ in NZ can't begin to explain why ANZ in Aus is ripping me off on every credit  [which is the only convenient option] transaction.

It's deliberately turning a blind eye to the inherent dishonesty involved imo.

ANZ NZ and ANZ AU are two separate entities. The systems are incompatible. They only share a common owner.

Not to mention the card is in NZD, the foreign currency exchange tax is one reason.
Credit card companies charge for every transaction as it is, so you wear that cost + currency conversion.

[Zarkov]

How does a bank pay for their staff's wages, bank properties, the hardware/software for controlling money/investments, electricity to said bank, the paper forms they use etc. etc.

No argument with that.

But they're not passing on the benefits of the computer age.

They're still charging as though some guy was manually making every transaction, instead of a big data centre doing a million things a second.

Why else charge for stuff charged to my credit card here in Aus, as though there were actual paper and signatures involved?

[Pyromanik]

Umm...
Because of all the fees and costs to them involved.

I think you forget that VISA or MasterCard own and run your credit card. Your bank just facilitates it.


AND IT'S IN ANOTHER CURRENCY.




Also, who pays for the data centre? Who pays for it's maintenance? Who pays when something collapses and needs replacing?

[BerG]

The Prime Minister? He is responsible for everything.

[Apostrophe Spacemonkey]

I thought the Queen of England was responsible for everything.

[Apostrophe Spacemonkey]

No argument with that.

But they're not passing on the benefits of the computer age.

They're still charging as though some guy was manually making every transaction, instead of a big data centre doing a million things a second.

I'd say they are. All the banks have electronic accounts which have no fees for things like setting up AP, provided they are set up online.

All the manual transaction fees are for when it's manually done in a branch by some guy.


Unarranged overdraft fee can be pretty silly, because usually the only way to get into an unarranged overdraft is by another fee. It's pretty much a double fee.

That, and the fee for a failed AP payment. They should just decline it like how an eftpos transaction gets declined. Or pay it and put the account into overdraft, I wouldn't mind the overdraft fee so much in that case, because at least the bill go paid.

[Apostrophe Spacemonkey]

I got a platinum credit card today And I pay no fees at all so I cant complain. The ANZ make your own eftpos card is also mean...and free!

Do you use your platinum card to book your private jet?

[The Demon Lord]

I'd say they are. All the banks have electronic accounts which have no fees for things like setting up AP, provided they are set up online.

All the manual transaction fees are for when it's manually done in a branch by some guy.


Unarranged overdraft fee can be pretty silly, because usually the only way to get into an unarranged overdraft is by another fee. It's pretty much a double fee.

That, and the fee for a failed AP payment. They should just decline it and how an eftpos transaction gets declined. Or pay it and put the account into overdraft, I wouldn't mind the overdraft fee so much in that case, because at least the bill go paid.

I too found that rather cheeky:

"well your $15 AP couldn't go through because of insufficient funds and your account can't go into Overdraft, so we added a $20 fee and because this put your account into Overdraft - we have charged you an unarranged Overdraft fee of $20"

This did happen to me once - I spewed at ASB (only time I have done so) and my Dad (I was 15 at the time) also spewed at them and threatened to move his business banking from ASB. Suffice to say they relented and agreed that if my account can't go into OD for a $15 AP, then it shouldn't be able to go into OD for a $20 fee and credits were processed.

[BerG]

I thought the Queen of England was responsible for everything.

The Queen gets the money from the bank who gets it from the Prime Minister.

[Scunner]

In England, first the Queen gets the money, then she gets the power, then she gets the women.