The average Australian household currently is paying around $9 each week in bank fees, much of which is largely avoidable.
Consumers who use ATMs not owned by their own bank paid more than $670 million in mostly unnecessary fees last year, research shows.
A financial counselling organisation is calling for ATM fees to be scrapped in remote Indigenous communities after it was reported that some Aboriginal people were spending up to 20 percent of their incomes on ATM fees.
^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.