Want to Bank in Australia? Forget about the Commonwealth Bank

In the latest “All Men are Liars” blog entry, Sam De Brito blogged about the Commonwealth Bank (CBA) latest bullsh**t corporate slogan -“Determined to be different” and offers his opinion how CBA can be truly different.

Generally, the fees banks charge in Australia are an absolute disgrace. They charge you a monthly fee to use your own money, some limit the number of transactions you may use to access your own money, make a killing off your deposit and drown you in a schedule of fees and charges. I used to bank with CBA until I got so fed up with their poor and unreliable customer service and highly uncompetitive and customer unfriendly financial products and switched to ANZ (the lesser of the Big 4 evils).

ANZ charges a higher monthly maintaince fee but their service quality is a world of different. Each time I ring up the bank, my call is received by a staff based in Australia in less than 1min! Their internet banking portal is quick and generally easy to use. And finally, their retail banking slogan makes sense – More convenient banking. Now

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