In an era where digital banking is becoming the norm, some customers still prefer the personal touch of visiting a bank branch.

However, recent allegations suggest that Australia's biggest banks are discouraging this practice by charging exorbitant fees for over-the-counter transactions.

According to a claim, this is a strategic move to drive customers away from branches, thereby justifying branch closures.

As reported by a news source, former ANZ employees have alleged that the bank is systematically pushing customers towards ATMs or iPads for transactions, thereby reducing in-branch transactions.

They believed this allowed the bank to justify branch closures due to reduced footfall.

Former ANZ employees alleged that the bank is systematically reducing in-branch transactions. Source: Google Maps

The latest wave of allegations comes after several business customers revealed the fees for teller-assisted transactions.

One disgruntled customer shared that his business was charged a fee to deposit cash into their ‘home’ ANZ branch, a requirement for maintaining their ISO9001 standards.

ANZ charges between 80c to $5 for staff-assisted transactions, according to their business account terms and conditions.

‘Yes, that’s right, a fee to deposit cash into a bank,’ the customer, who wished to remain anonymous, stated.

Staff-assisted transactions are identified as various manual banking activities processed by ANZ staff, including withdrawing cash at the counter, performing funds transfers at the counter to either an ANZ account or another bank, depositing cash or checks at the counter, and using fast deposit bags or envelopes.

Additionally, any other manual withdrawal, transfer, deposit, or transaction to an ANZ account, as classified by ANZ as a 'Staff Assisted Transaction', varies depending on the type of account.

An ANZ spokesperson defended the bank's fees, stating: ‘We ensure that our fees and charges are competitive with others in the industry.’

However, this has done little to quell the frustration of customers who feel penalised for using traditional banking services.

One manager of an IT business, who is also banking with ANZ, shared his experience with the extra charges.

‘When I am depositing a cheque (a $2.50 fee) and the ATM keeps spitting it out (which happens often) and then I need to see a teller, I get the double whammy of fees ($5) just to be able to deposit a cheque,’ he recalled.

He added, ‘I have also been in [a] situation when the ATM has no paper left to print a receipt, which I need for bank reconciliation at the end of the month for my business, so I have to go to see a staff member to manually print me one.’

‘I can’t tell you the number of times I have argued the point about why I shouldn’t have to pay a fee when the machines [ANZ] are directing me to use function incorrectly, yet I have to be punished with a fee to resolve the issue,’ the manager expressed.

Similar allegations have been made against Australia's other Big Four banks—Westpac, Commonwealth Bank (CBA), and National Australia Bank (NAB).

A hospitality business owner who banks with CBA revealed that she was being charged $10 for each banking bag used to deposit the cash takings from her businesses over the counter in-branch every day.

‘CBA charge $10 for each banking bag. That’s one a day each week, so $70 per week per business to count our daily takings!’ the owner said.

As a result of these high fees, she now deposits her takings via ATM, despite the security risks involved in carrying large amounts of cash.

‘I think $10 a bag is a bit much, so I refuse to pay that and now only use the ATM for which there is no cost.’

‘Twice a week, I walk to the bank with 3-4 days takings—it’s too dangerous for my staff to do it—for each business. That’s thousands of dollars each time,’ the owner continued.

‘I stand at the ATM doing deposits hoping nobody realises what I am doing with $10,000 plus in my bag.’

According to its business account terms and conditions, CBA charges a $10 fee per transaction for deposits made via its 'Quick Deposit Box' or 'QuickCash envelope banking' for most of its business accounts, a $5 fee for the deposit of cheques, and a $5 fee for deposits or withdrawals made over the counter at a CBA branch or Post Offices.

CBA charge their customers for assisted transactions. Credit: CBA

A spokesperson from CBA explained that branch employees have the authority to waive fees for assisted withdrawals related to their products, for instance, like an ATM being out of service.

Westpac and NAB also charge business customers a fee for staff-assisted withdrawals, deposits, and cheque deposits, ranging from $2.50 to $5, depending on the account type.

A spokesperson from NAB stated that if a transaction requires manual processing due to a technical problem with an ATM that is not the customer's fault, the fees for banker-assisted transactions would be waived.

However, most ATM transactions are fee-free for business customers of all the major banks.

Key Takeaways

• Australia’s biggest banks were allegedly charging high fees for over-the-counter transactions to discourage branch usage.
  
• Former ANZ employees have claimed that the bank is driving customers to use ATMs or iPads for transactions and using the drop in branch visits to justify branch closures.
  
• Business customers from ANZ, Westpac, Commonwealth Bank and NAB have claimed to have been charged hefty fees for teller-assisted transactions.
  
• Bank spokespeople have defended these charges, and some claimed that fees could be waived in cases where technical issues forced customers to use teller services.
  

What are your thoughts on these fees for branch use, members? Do you believe these claims? Share your experiences in the comments below.

 

[BJM]

In an era where digital banking is becoming the norm, some customers still prefer the personal touch of visiting a bank branch.

However, recent allegations suggest that Australia's biggest banks are discouraging this practice by charging exorbitant fees for over-the-counter transactions.

According to a claim, this is a strategic move to drive customers away from branches, thereby justifying branch closures.

As reported by a news source, former ANZ employees have alleged that the bank is systematically pushing customers towards ATMs or iPads for transactions, thereby reducing in-branch transactions.

They believed this allowed the bank to justify branch closures due to reduced footfall.

View attachment 35954

Former ANZ employees alleged that the bank is systematically reducing in-branch transactions. Source: Google Maps

The latest wave of allegations comes after several business customers revealed the fees for teller-assisted transactions.

One disgruntled customer shared that his business was charged a fee to deposit cash into their ‘home’ ANZ branch, a requirement for maintaining their ISO9001 standards.

ANZ charges between 80c to $5 for staff-assisted transactions, according to their business account terms and conditions.

‘Yes, that’s right, a fee to deposit cash into a bank,’ the customer, who wished to remain anonymous, stated.

Staff-assisted transactions are identified as various manual banking activities processed by ANZ staff, including withdrawing cash at the counter, performing funds transfers at the counter to either an ANZ account or another bank, depositing cash or checks at the counter, and using fast deposit bags or envelopes.

Additionally, any other manual withdrawal, transfer, deposit, or transaction to an ANZ account, as classified by ANZ as a 'Staff Assisted Transaction', varies depending on the type of account.

An ANZ spokesperson defended the bank's fees, stating: ‘We ensure that our fees and charges are competitive with others in the industry.’

However, this has done little to quell the frustration of customers who feel penalised for using traditional banking services.

One manager of an IT business, who is also banking with ANZ, shared his experience with the extra charges.

‘When I am depositing a cheque (a $2.50 fee) and the ATM keeps spitting it out (which happens often) and then I need to see a teller, I get the double whammy of fees ($5) just to be able to deposit a cheque,’ he recalled.

He added, ‘I have also been in [a] situation when the ATM has no paper left to print a receipt, which I need for bank reconciliation at the end of the month for my business, so I have to go to see a staff member to manually print me one.’

‘I can’t tell you the number of times I have argued the point about why I shouldn’t have to pay a fee when the machines [ANZ] are directing me to use function incorrectly, yet I have to be punished with a fee to resolve the issue,’ the manager expressed.

Similar allegations have been made against Australia's other Big Four banks—Westpac, Commonwealth Bank (CBA), and National Australia Bank (NAB).

A hospitality business owner who banks with CBA revealed that she was being charged $10 for each banking bag used to deposit the cash takings from her businesses over the counter in-branch every day.

‘CBA charge $10 for each banking bag. That’s one a day each week, so $70 per week per business to count our daily takings!’ the owner said.

As a result of these high fees, she now deposits her takings via ATM, despite the security risks involved in carrying large amounts of cash.

‘I think $10 a bag is a bit much, so I refuse to pay that and now only use the ATM for which there is no cost.’

‘Twice a week, I walk to the bank with 3-4 days takings—it’s too dangerous for my staff to do it—for each business. That’s thousands of dollars each time,’ the owner continued.

‘I stand at the ATM doing deposits hoping nobody realises what I am doing with $10,000 plus in my bag.’

According to its business account terms and conditions, CBA charges a $10 fee per transaction for deposits made via its 'Quick Deposit Box' or 'QuickCash envelope banking' for most of its business accounts, a $5 fee for the deposit of cheques, and a $5 fee for deposits or withdrawals made over the counter at a CBA branch or Post Offices.

View attachment 35955

CBA charge their customers for assisted transactions. Credit: CBA

A spokesperson from CBA explained that branch employees have the authority to waive fees for assisted withdrawals related to their products, for instance, like an ATM being out of service.

Westpac and NAB also charge business customers a fee for staff-assisted withdrawals, deposits, and cheque deposits, ranging from $2.50 to $5, depending on the account type.

A spokesperson from NAB stated that if a transaction requires manual processing due to a technical problem with an ATM that is not the customer's fault, the fees for banker-assisted transactions would be waived.

However, most ATM transactions are fee-free for business customers of all the major banks.

Key Takeaways

• Australia’s biggest banks were allegedly charging high fees for over-the-counter transactions to discourage branch usage.
• Former ANZ employees have claimed that the bank is driving customers to use ATMs or iPads for transactions and using the drop in branch visits to justify branch closures.
• Business customers from ANZ, Westpac, Commonwealth Bank and NAB have claimed to have been charged hefty fees for teller-assisted transactions.
• Bank spokespeople have defended these charges, and some claimed that fees could be waived in cases where technical issues forced customers to use teller services.

What are your thoughts on these fees for branch use, members? Do you believe these claims? Share your experiences in the comments below.

It’s all about profit

 

[Jest]

In an era where digital banking is becoming the norm, some customers still prefer the personal touch of visiting a bank branch.

However, recent allegations suggest that Australia's biggest banks are discouraging this practice by charging exorbitant fees for over-the-counter transactions.

According to a claim, this is a strategic move to drive customers away from branches, thereby justifying branch closures.

As reported by a news source, former ANZ employees have alleged that the bank is systematically pushing customers towards ATMs or iPads for transactions, thereby reducing in-branch transactions.

They believed this allowed the bank to justify branch closures due to reduced footfall.

View attachment 35954

Former ANZ employees alleged that the bank is systematically reducing in-branch transactions. Source: Google Maps

The latest wave of allegations comes after several business customers revealed the fees for teller-assisted transactions.

One disgruntled customer shared that his business was charged a fee to deposit cash into their ‘home’ ANZ branch, a requirement for maintaining their ISO9001 standards.

ANZ charges between 80c to $5 for staff-assisted transactions, according to their business account terms and conditions.

‘Yes, that’s right, a fee to deposit cash into a bank,’ the customer, who wished to remain anonymous, stated.

Staff-assisted transactions are identified as various manual banking activities processed by ANZ staff, including withdrawing cash at the counter, performing funds transfers at the counter to either an ANZ account or another bank, depositing cash or checks at the counter, and using fast deposit bags or envelopes.

Additionally, any other manual withdrawal, transfer, deposit, or transaction to an ANZ account, as classified by ANZ as a 'Staff Assisted Transaction', varies depending on the type of account.

An ANZ spokesperson defended the bank's fees, stating: ‘We ensure that our fees and charges are competitive with others in the industry.’

However, this has done little to quell the frustration of customers who feel penalised for using traditional banking services.

One manager of an IT business, who is also banking with ANZ, shared his experience with the extra charges.

‘When I am depositing a cheque (a $2.50 fee) and the ATM keeps spitting it out (which happens often) and then I need to see a teller, I get the double whammy of fees ($5) just to be able to deposit a cheque,’ he recalled.

He added, ‘I have also been in [a] situation when the ATM has no paper left to print a receipt, which I need for bank reconciliation at the end of the month for my business, so I have to go to see a staff member to manually print me one.’

‘I can’t tell you the number of times I have argued the point about why I shouldn’t have to pay a fee when the machines [ANZ] are directing me to use function incorrectly, yet I have to be punished with a fee to resolve the issue,’ the manager expressed.

Similar allegations have been made against Australia's other Big Four banks—Westpac, Commonwealth Bank (CBA), and National Australia Bank (NAB).

A hospitality business owner who banks with CBA revealed that she was being charged $10 for each banking bag used to deposit the cash takings from her businesses over the counter in-branch every day.

‘CBA charge $10 for each banking bag. That’s one a day each week, so $70 per week per business to count our daily takings!’ the owner said.

As a result of these high fees, she now deposits her takings via ATM, despite the security risks involved in carrying large amounts of cash.

‘I think $10 a bag is a bit much, so I refuse to pay that and now only use the ATM for which there is no cost.’

‘Twice a week, I walk to the bank with 3-4 days takings—it’s too dangerous for my staff to do it—for each business. That’s thousands of dollars each time,’ the owner continued.

‘I stand at the ATM doing deposits hoping nobody realises what I am doing with $10,000 plus in my bag.’

According to its business account terms and conditions, CBA charges a $10 fee per transaction for deposits made via its 'Quick Deposit Box' or 'QuickCash envelope banking' for most of its business accounts, a $5 fee for the deposit of cheques, and a $5 fee for deposits or withdrawals made over the counter at a CBA branch or Post Offices.

View attachment 35955

CBA charge their customers for assisted transactions. Credit: CBA

A spokesperson from CBA explained that branch employees have the authority to waive fees for assisted withdrawals related to their products, for instance, like an ATM being out of service.

Westpac and NAB also charge business customers a fee for staff-assisted withdrawals, deposits, and cheque deposits, ranging from $2.50 to $5, depending on the account type.

A spokesperson from NAB stated that if a transaction requires manual processing due to a technical problem with an ATM that is not the customer's fault, the fees for banker-assisted transactions would be waived.

However, most ATM transactions are fee-free for business customers of all the major banks.

Key Takeaways

• Australia’s biggest banks were allegedly charging high fees for over-the-counter transactions to discourage branch usage.
• Former ANZ employees have claimed that the bank is driving customers to use ATMs or iPads for transactions and using the drop in branch visits to justify branch closures.
• Business customers from ANZ, Westpac, Commonwealth Bank and NAB have claimed to have been charged hefty fees for teller-assisted transactions.
• Bank spokespeople have defended these charges, and some claimed that fees could be waived in cases where technical issues forced customers to use teller services.

What are your thoughts on these fees for branch use, members? Do you believe these claims? Share your experiences in the comments below.

if it is out of service you are unable to use. great on sunday morning. Shift your money. simples ick!

 

[Pat T]

Will not use the big banks. We use the smaller, big banks. Go in, have a chat, they can’t advise but can give options , leave happy and no fees.

 

[Bill MacL]

LESS SERVICES, MORE FEES. THEY SHOULD NOT BE ALLOWED TO CALL THEMSELVES BANKS ANYMORE, THEY ARE JUST THERE TO MAKE MONEY.

 

[BillW41]

What used to be the archetypal service industry with customers its main focus but making sufficient profits from the deposits received, loss-making branches supported by profitable ones, has degenerated into a self-serving monster with fees levied on almost everything they do. A disgusting antisocial attitude.
(Retired share-holding bank manager.)

 

[elaine41]

I have not used any of the big banks for many decades. Initially used a credit union or building society which was forced by the govt to become a bank but still maintains the ethics of a small, service-friendly, building society.
One way to stop the rip-offs by big banks is for everyone to change to a small bank where there is still friendy, fee-free service.

 

[Macarj]

I think for a small business it would be cheaper to buy a big safe and keep their money at home because the cost of depositing is probably more than any interest they would receive

 

[Squizzy1]

In an era where digital banking is becoming the norm, some customers still prefer the personal touch of visiting a bank branch.

However, recent allegations suggest that Australia's biggest banks are discouraging this practice by charging exorbitant fees for over-the-counter transactions.

According to a claim, this is a strategic move to drive customers away from branches, thereby justifying branch closures.

As reported by a news source, former ANZ employees have alleged that the bank is systematically pushing customers towards ATMs or iPads for transactions, thereby reducing in-branch transactions.

They believed this allowed the bank to justify branch closures due to reduced footfall.

View attachment 35954

Former ANZ employees alleged that the bank is systematically reducing in-branch transactions. Source: Google Maps

The latest wave of allegations comes after several business customers revealed the fees for teller-assisted transactions.

One disgruntled customer shared that his business was charged a fee to deposit cash into their ‘home’ ANZ branch, a requirement for maintaining their ISO9001 standards.

ANZ charges between 80c to $5 for staff-assisted transactions, according to their business account terms and conditions.

‘Yes, that’s right, a fee to deposit cash into a bank,’ the customer, who wished to remain anonymous, stated.

Staff-assisted transactions are identified as various manual banking activities processed by ANZ staff, including withdrawing cash at the counter, performing funds transfers at the counter to either an ANZ account or another bank, depositing cash or checks at the counter, and using fast deposit bags or envelopes.

Additionally, any other manual withdrawal, transfer, deposit, or transaction to an ANZ account, as classified by ANZ as a 'Staff Assisted Transaction', varies depending on the type of account.

An ANZ spokesperson defended the bank's fees, stating: ‘We ensure that our fees and charges are competitive with others in the industry.’

However, this has done little to quell the frustration of customers who feel penalised for using traditional banking services.

One manager of an IT business, who is also banking with ANZ, shared his experience with the extra charges.

‘When I am depositing a cheque (a $2.50 fee) and the ATM keeps spitting it out (which happens often) and then I need to see a teller, I get the double whammy of fees ($5) just to be able to deposit a cheque,’ he recalled.

He added, ‘I have also been in [a] situation when the ATM has no paper left to print a receipt, which I need for bank reconciliation at the end of the month for my business, so I have to go to see a staff member to manually print me one.’

‘I can’t tell you the number of times I have argued the point about why I shouldn’t have to pay a fee when the machines [ANZ] are directing me to use function incorrectly, yet I have to be punished with a fee to resolve the issue,’ the manager expressed.

Similar allegations have been made against Australia's other Big Four banks—Westpac, Commonwealth Bank (CBA), and National Australia Bank (NAB).

A hospitality business owner who banks with CBA revealed that she was being charged $10 for each banking bag used to deposit the cash takings from her businesses over the counter in-branch every day.

‘CBA charge $10 for each banking bag. That’s one a day each week, so $70 per week per business to count our daily takings!’ the owner said.

As a result of these high fees, she now deposits her takings via ATM, despite the security risks involved in carrying large amounts of cash.

‘I think $10 a bag is a bit much, so I refuse to pay that and now only use the ATM for which there is no cost.’

‘Twice a week, I walk to the bank with 3-4 days takings—it’s too dangerous for my staff to do it—for each business. That’s thousands of dollars each time,’ the owner continued.

‘I stand at the ATM doing deposits hoping nobody realises what I am doing with $10,000 plus in my bag.’

According to its business account terms and conditions, CBA charges a $10 fee per transaction for deposits made via its 'Quick Deposit Box' or 'QuickCash envelope banking' for most of its business accounts, a $5 fee for the deposit of cheques, and a $5 fee for deposits or withdrawals made over the counter at a CBA branch or Post Offices.

View attachment 35955

CBA charge their customers for assisted transactions. Credit: CBA

A spokesperson from CBA explained that branch employees have the authority to waive fees for assisted withdrawals related to their products, for instance, like an ATM being out of service.

Westpac and NAB also charge business customers a fee for staff-assisted withdrawals, deposits, and cheque deposits, ranging from $2.50 to $5, depending on the account type.

A spokesperson from NAB stated that if a transaction requires manual processing due to a technical problem with an ATM that is not the customer's fault, the fees for banker-assisted transactions would be waived.

However, most ATM transactions are fee-free for business customers of all the major banks.

Key Takeaways

• Australia’s biggest banks were allegedly charging high fees for over-the-counter transactions to discourage branch usage.
• Former ANZ employees have claimed that the bank is driving customers to use ATMs or iPads for transactions and using the drop in branch visits to justify branch closures.
• Business customers from ANZ, Westpac, Commonwealth Bank and NAB have claimed to have been charged hefty fees for teller-assisted transactions.
• Bank spokespeople have defended these charges, and some claimed that fees could be waived in cases where technical issues forced customers to use teller services.

What are your thoughts on these fees for branch use, members? Do you believe these claims? Share your experiences in the comments below.

Seems we need another Banking RC, or we demand to be paid with cash to avert what is now an invasion of privacy, and extorsion. Businesses should be forced to only accept cash, not the other way round.

 

[Mala Conway]

In an era where digital banking is becoming the norm, some customers still prefer the personal touch of visiting a bank branch.

However, recent allegations suggest that Australia's biggest banks are discouraging this practice by charging exorbitant fees for over-the-counter transactions.

According to a claim, this is a strategic move to drive customers away from branches, thereby justifying branch closures.

As reported by a news source, former ANZ employees have alleged that the bank is systematically pushing customers towards ATMs or iPads for transactions, thereby reducing in-branch transactions.

They believed this allowed the bank to justify branch closures due to reduced footfall.

View attachment 35954

Former ANZ employees alleged that the bank is systematically reducing in-branch transactions. Source: Google Maps

The latest wave of allegations comes after several business customers revealed the fees for teller-assisted transactions.

One disgruntled customer shared that his business was charged a fee to deposit cash into their ‘home’ ANZ branch, a requirement for maintaining their ISO9001 standards.

ANZ charges between 80c to $5 for staff-assisted transactions, according to their business account terms and conditions.

‘Yes, that’s right, a fee to deposit cash into a bank,’ the customer, who wished to remain anonymous, stated.

Staff-assisted transactions are identified as various manual banking activities processed by ANZ staff, including withdrawing cash at the counter, performing funds transfers at the counter to either an ANZ account or another bank, depositing cash or checks at the counter, and using fast deposit bags or envelopes.

Additionally, any other manual withdrawal, transfer, deposit, or transaction to an ANZ account, as classified by ANZ as a 'Staff Assisted Transaction', varies depending on the type of account.

An ANZ spokesperson defended the bank's fees, stating: ‘We ensure that our fees and charges are competitive with others in the industry.’

However, this has done little to quell the frustration of customers who feel penalised for using traditional banking services.

One manager of an IT business, who is also banking with ANZ, shared his experience with the extra charges.

‘When I am depositing a cheque (a $2.50 fee) and the ATM keeps spitting it out (which happens often) and then I need to see a teller, I get the double whammy of fees ($5) just to be able to deposit a cheque,’ he recalled.

He added, ‘I have also been in [a] situation when the ATM has no paper left to print a receipt, which I need for bank reconciliation at the end of the month for my business, so I have to go to see a staff member to manually print me one.’

‘I can’t tell you the number of times I have argued the point about why I shouldn’t have to pay a fee when the machines [ANZ] are directing me to use function incorrectly, yet I have to be punished with a fee to resolve the issue,’ the manager expressed.

Similar allegations have been made against Australia's other Big Four banks—Westpac, Commonwealth Bank (CBA), and National Australia Bank (NAB).

A hospitality business owner who banks with CBA revealed that she was being charged $10 for each banking bag used to deposit the cash takings from her businesses over the counter in-branch every day.

‘CBA charge $10 for each banking bag. That’s one a day each week, so $70 per week per business to count our daily takings!’ the owner said.

As a result of these high fees, she now deposits her takings via ATM, despite the security risks involved in carrying large amounts of cash.

‘I think $10 a bag is a bit much, so I refuse to pay that and now only use the ATM for which there is no cost.’

‘Twice a week, I walk to the bank with 3-4 days takings—it’s too dangerous for my staff to do it—for each business. That’s thousands of dollars each time,’ the owner continued.

‘I stand at the ATM doing deposits hoping nobody realises what I am doing with $10,000 plus in my bag.’

According to its business account terms and conditions, CBA charges a $10 fee per transaction for deposits made via its 'Quick Deposit Box' or 'QuickCash envelope banking' for most of its business accounts, a $5 fee for the deposit of cheques, and a $5 fee for deposits or withdrawals made over the counter at a CBA branch or Post Offices.

View attachment 35955

CBA charge their customers for assisted transactions. Credit: CBA

A spokesperson from CBA explained that branch employees have the authority to waive fees for assisted withdrawals related to their products, for instance, like an ATM being out of service.

Westpac and NAB also charge business customers a fee for staff-assisted withdrawals, deposits, and cheque deposits, ranging from $2.50 to $5, depending on the account type.

A spokesperson from NAB stated that if a transaction requires manual processing due to a technical problem with an ATM that is not the customer's fault, the fees for banker-assisted transactions would be waived.

However, most ATM transactions are fee-free for business customers of all the major banks.

Key Takeaways

• Australia’s biggest banks were allegedly charging high fees for over-the-counter transactions to discourage branch usage.
• Former ANZ employees have claimed that the bank is driving customers to use ATMs or iPads for transactions and using the drop in branch visits to justify branch closures.
• Business customers from ANZ, Westpac, Commonwealth Bank and NAB have claimed to have been charged hefty fees for teller-assisted transactions.
• Bank spokespeople have defended these charges, and some claimed that fees could be waived in cases where technical issues forced customers to use teller services.

What are your thoughts on these fees for branch use, members? Do you believe these claims? Share your experiences in the comments below.

Absolutely shocking!

 

[Leenie]

I have not used any of the big banks for many decades. Initially used a credit union or building society which was forced by the govt to become a bank but still maintains the ethics of a small, service-friendly, building society.
One way to stop the rip-offs by big banks is for everyone to change to a small bank where there is still friendy, fee-free service.

I did that 18 months ago ,it was a credit union and changed over to a bank , better service,and interest rates I couldn’t be happier .The big banks take customers for granted ,and need a good shakeup.

 

[kevinwoodtufftyke52@gmail]

In an era where digital banking is becoming the norm, some customers still prefer the personal touch of visiting a bank branch.

However, recent allegations suggest that Australia's biggest banks are discouraging this practice by charging exorbitant fees for over-the-counter transactions.

According to a claim, this is a strategic move to drive customers away from branches, thereby justifying branch closures.

As reported by a news source, former ANZ employees have alleged that the bank is systematically pushing customers towards ATMs or iPads for transactions, thereby reducing in-branch transactions.

They believed this allowed the bank to justify branch closures due to reduced footfall.

View attachment 35954

Former ANZ employees alleged that the bank is systematically reducing in-branch transactions. Source: Google Maps

The latest wave of allegations comes after several business customers revealed the fees for teller-assisted transactions.

One disgruntled customer shared that his business was charged a fee to deposit cash into their ‘home’ ANZ branch, a requirement for maintaining their ISO9001 standards.

ANZ charges between 80c to $5 for staff-assisted transactions, according to their business account terms and conditions.

‘Yes, that’s right, a fee to deposit cash into a bank,’ the customer, who wished to remain anonymous, stated.

Staff-assisted transactions are identified as various manual banking activities processed by ANZ staff, including withdrawing cash at the counter, performing funds transfers at the counter to either an ANZ account or another bank, depositing cash or checks at the counter, and using fast deposit bags or envelopes.

Additionally, any other manual withdrawal, transfer, deposit, or transaction to an ANZ account, as classified by ANZ as a 'Staff Assisted Transaction', varies depending on the type of account.

An ANZ spokesperson defended the bank's fees, stating: ‘We ensure that our fees and charges are competitive with others in the industry.’

However, this has done little to quell the frustration of customers who feel penalised for using traditional banking services.

One manager of an IT business, who is also banking with ANZ, shared his experience with the extra charges.

‘When I am depositing a cheque (a $2.50 fee) and the ATM keeps spitting it out (which happens often) and then I need to see a teller, I get the double whammy of fees ($5) just to be able to deposit a cheque,’ he recalled.

He added, ‘I have also been in [a] situation when the ATM has no paper left to print a receipt, which I need for bank reconciliation at the end of the month for my business, so I have to go to see a staff member to manually print me one.’

‘I can’t tell you the number of times I have argued the point about why I shouldn’t have to pay a fee when the machines [ANZ] are directing me to use function incorrectly, yet I have to be punished with a fee to resolve the issue,’ the manager expressed.

Similar allegations have been made against Australia's other Big Four banks—Westpac, Commonwealth Bank (CBA), and National Australia Bank (NAB).

A hospitality business owner who banks with CBA revealed that she was being charged $10 for each banking bag used to deposit the cash takings from her businesses over the counter in-branch every day.

‘CBA charge $10 for each banking bag. That’s one a day each week, so $70 per week per business to count our daily takings!’ the owner said.

As a result of these high fees, she now deposits her takings via ATM, despite the security risks involved in carrying large amounts of cash.

‘I think $10 a bag is a bit much, so I refuse to pay that and now only use the ATM for which there is no cost.’

‘Twice a week, I walk to the bank with 3-4 days takings—it’s too dangerous for my staff to do it—for each business. That’s thousands of dollars each time,’ the owner continued.

‘I stand at the ATM doing deposits hoping nobody realises what I am doing with $10,000 plus in my bag.’

According to its business account terms and conditions, CBA charges a $10 fee per transaction for deposits made via its 'Quick Deposit Box' or 'QuickCash envelope banking' for most of its business accounts, a $5 fee for the deposit of cheques, and a $5 fee for deposits or withdrawals made over the counter at a CBA branch or Post Offices.

View attachment 35955

CBA charge their customers for assisted transactions. Credit: CBA

A spokesperson from CBA explained that branch employees have the authority to waive fees for assisted withdrawals related to their products, for instance, like an ATM being out of service.

Westpac and NAB also charge business customers a fee for staff-assisted withdrawals, deposits, and cheque deposits, ranging from $2.50 to $5, depending on the account type.

A spokesperson from NAB stated that if a transaction requires manual processing due to a technical problem with an ATM that is not the customer's fault, the fees for banker-assisted transactions would be waived.

However, most ATM transactions are fee-free for business customers of all the major banks.

Key Takeaways

• Australia’s biggest banks were allegedly charging high fees for over-the-counter transactions to discourage branch usage.
• Former ANZ employees have claimed that the bank is driving customers to use ATMs or iPads for transactions and using the drop in branch visits to justify branch closures.
• Business customers from ANZ, Westpac, Commonwealth Bank and NAB have claimed to have been charged hefty fees for teller-assisted transactions.
• Bank spokespeople have defended these charges, and some claimed that fees could be waived in cases where technical issues forced customers to use teller services.

What are your thoughts on these fees for branch use, members? Do you believe these claims? Share your experiences in the comments below.

It looks like you need to change banks to ones that don't charge fees on deposits.

 

[magpie1]

The collusion of the big banks to offer their customers LESS personal banking service is disgusting and people should ask themselves where all of these changes will end....ADD ON charges just to deposit your money with them is UNBELIEVABLE. The banks would falter like a deck of cards if it were not for our money being deposited with them...yet they treat their customers with such disrespect that it's sickening.

 

[Leenie]

I think for a small business it would be cheaper to buy a big safe and keep their money at home because the cost of depositing is probably more than any interest they would receive

With home break ins rising , this would be a draw card for criminals, in our area the rate has gone up 28% .

 

[Annna]

The big banks have been consciously but surreptitiously moving customers out of branches for the last 3+ decades.

It started with ATMs marketed as convenience mechanisms for customers and customers fell for that hook, line and sinker.

It's been a slippery slide since then with the increasing availability of internet access.

These banks have effectively moved people out and in the process, made it possible for thieves to:

1. Gain access to identities for fraudulent purposes;

2. Con customers out of money by impersonating banks;

3. Take customers' money via online purchases using money from customers' accounts.

Ok banks, the organisations that have moved us out, warrant that you can bullet proof bank accounts.

Alternatively, warrant that customers whose identities and funds have been stolen, will be reimbursed without question.

Remember you, the big banks have moved us out and have thereby placed us in this danger.

 

[wiskers50]

It's all part of the plan

 

[David567]

And here they are making the highest profits of all.
Filthy greed is all it is. They charge shops a fee for every customer who uses efptos. They are doing the banks a service but it costs them to do so. The shop should be getting paid bu the banks for providing this service for them. Shops should start doing away with this service. That would shake these greedy banks up. They would have to start providing teller service again.

 

[IAN3005]

I think for a small business it would be cheaper to buy a big safe and keep their money at home because the cost of depositing is probably more than any interest they would receive

What money? Soon the will be no cash.
My brother in London says he has not seen cash for over a year.... CARD ONLY.....

 

[Leenie]

What money? Soon the will be no cash.
My brother in London says he has not seen cash for over a year.... CARD ONLY.....

It’s coming faster than people think, 2025 is getting closer.

 

[magpie1]

The big banks have been consciously but surreptitiously moving customers out of branches for the last 3+ decades.

It started with ATMs marketed as convenience mechanisms for customers and customers fell for that hook, line and sinker.

It's been a slippery slide since then with the increasing availability of internet access.

These banks have effectively moved people out and in the process, made it possible for thieves to:

1. Gain access to identities for fraudulent purposes;

2. Con customers out of money by impersonating banks;

3. Take customers' money via online purchases using money from customers' accounts.

Ok banks, the organisation's that have moved us out, warrant that you can bullet proof bank accounts.

Alternatively, warrant that customers whose identities and funds have been stolen, will be reimbursed without question.

Remember you, the big banks have moved us out and have thereby placed us in this danger.

and with the removal of cash......the banks will have full control of YOUR money.......