Australians Deserve A Better Deal On Bank Fees

Australians Deserve a Better Deal on Bank Fees

ING DIRECT is calling on Australians to shop around to avoid paying unnecessary bank fees.

ING DIRECT Executive Director of Savings Brett Morgan says there are easy options for customers to take to avoid all penalty fees, ATM fees and account keeping fees.

"No-one should be paying everyday banking fees, it is an unnecessary cost for families," he said.

From today ING DIRECT, Australia's 5th largest retail bank, is offering to pay new Orange Everyday customers a $5 a month bonus when they deposit $2000 or more*.

Mr. Morgan says, "Our incentive is to prove the point that customers should be receiving a better deal on bank fees. It is to encourage customers to shop around."

Orange Everyday, a transaction account that is free of everyday banking fees, was publically launched earlier this year.

The offer comes on the day the Reserve Bank has revealed that Australians are continuing to pay more than $1billion in penalty fees.

"Australian consumers have been paying too much in bank fees for too long. There are alternatives that can save customers money," said Morgan.

*Offer open to the end of 2010

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For further information or an interview, please contact:

David Breen
ING DIRECT
T: 02 9028 4347
M: 0412 933 060

Kate Wallman
ING DIRECT
T: 02 9018 5154
M: 0414 431 649

SOURCE: ING DIRECT