But it's possible to avoid bank fees if you are willing to do some research.
Sure, but think of the consequences for Australian society of banks with no profits if everyone did this. As unthinkable as a society that avoids exploitation of its fellow citizens through tax encouragement of residential property speculation.
They already make plenty of money investing our money short term while keeping it for days "transferring it" from one account to the other. We all know that this day and age, they could transfer that money in seconds
It's not just bank fees that pump up bank profits, but the sticky fingers over every transaction done on plastic. That is more difficult to avoid while plastic offers the convenience of not having to get cash, tender it and then check the change to see that you're not being ripped off. I do recall that the Reserve Bank had aspirations to curb some of the banks' excesses in the plastic card area in recent times, but it seems to have spawned some new ways of profit recovery by our financial institutions.
Well, I am yet to pay a cent in bank fees for credit card usage and this (by IceTV) is the first time I have paid a surcharge. I have and do shop places where there is a well advertised surcharge for credit card usage, but they do provide other options, so I use those
Even Telstra, not known for being charitable, waves the surcharge (as well as providing other options) for pensioners.
In fact, (may be worth investigating) I am not sure if it is legal to charge a surcharge if no other option is offered.
As I said in my first post, the extra charge is not going to bankrupt me, but it is the principle of the thing.
