Yeah, diverse arseholes do it here too,especially utilities,who want to be able to direct debit. Stuff that, I wan to be able to check and query my bills.
Currently there is a massive class action against all for major banks over various fees,which may be legally uninforceable and hence illegal. The banks may have to refund hundreds of millions of dollars in illegal fees. The class actions began after some individuals successfully sued banks for a refund of fees.
PLUS Japan's largest bank (owned by Mitsubishi) is about to enter the lucrative Aussie home mortgage market. Japan has arguably the highest rate of personal savings in the world,for which the banks pay an interest rate of .005%. That means home mortgage rates of UNDER 1%..Although we don't expect 1% loans, it IS expected the Japanese will offer mortgages for at least 2 points below our major banks. Not sure how this will work long term,as it may effect interest on savings and the money rate.
Currently there is a massive class action against all for major banks over various fees,which may be legally uninforceable and hence illegal. The banks may have to refund hundreds of millions of dollars in illegal fees. The class actions began after some individuals successfully sued banks for a refund of fees.
PLUS Japan's largest bank (owned by Mitsubishi) is about to enter the lucrative Aussie home mortgage market. Japan has arguably the highest rate of personal savings in the world,for which the banks pay an interest rate of .005%. That means home mortgage rates of UNDER 1%..Although we don't expect 1% loans, it IS expected the Japanese will offer mortgages for at least 2 points below our major banks. Not sure how this will work long term,as it may effect interest on savings and the money rate.
