It’s official. I am now financially better off keeping my money under the bed than in the bank.
The current interest rate on my account is 0%, meanwhile ASB Bank are charging me bank fees of 40 to 80 cents per transaction. That is every single transaction folks, including 40 cents each time I use internet banking to move my own money between my own accounts! Unbelievable right? Fees for last month came to $10, the previous month it was $9.20.
.
All this because my ‘relationship’ with the bank has dropped below $200,000. Relationship! Ha! Let me tell you, I’m seriously considering breaking up with them.
So what do The Readership think? Should I call it quits with ASB? Shall I start dating Kiwibank?
Buy Kiwi made.
I’m not actually going to BUY the bank Sukalati. I just want somewhere to keep the $2.10 I have left after buying hay for the ponies.
R is with Kiwi bank and used to reckon no fees so worth checking out .it is below the belt to charge for internal transactions. Im busy checking now……
That sounds good, and Kiwibank is one of the only two NZ owned banks these days (TSB being the other). As Jim Anderton said a few years ago “We don’t really know who owns ASB. All we know for sure is that New Zealand doesn’t.”.
That’s odd, my relationship with the ASB has never been close to $200,000 and I don’t pay fees. All my stuffixes are “streamline” accounts so I don’t pay fees on electronic transactions. Maybe check your suffix types?
You are quite right. I’ve now changed the account type to avoid electronic transaction fees. Now I wonder why couldn’t ASB have popped through a notification about that option when my situation changed? After 40 years (I was a child bride) and two plastic Kashin money boxes that would seem like the caring relationship thing to do.
I know, I had a red Kashin, and was a child bride too. I think they count on us being too lazy to change banks … I know I am …
I am intrigued to what you bought at the Hospice shop for $6.50, that would seem a big spend up?!
Yes, a big spend up indeed. It was several items, let me remember … that’s right: one long sleeved merino top $2, one hand knitted scarf (lacey pattern in creamy white wool will show you when next you are here) $1, a replacement vacuum cleaner end (I broke ours) .50c, and a $3 splash out on an English ‘mason cash’ mixing bowl. For all the baking I do, haha!
Gotta love the op shops.
Work’s electronic records went down for a couple of hours today (no doubt connected to the current global crisis). So Nurse H and I went Opp Shopping. I bought an entire new outfit (dress, jacket and scarf) for $22 and returned to work wearing it. Go me 🙂 !
Yay for op shopping, what a bargain outfit and I bet you rock it. Is it pink perchance?! Photos please.
A big hi to permie girl Nurse H.
Yes, the effort involved in moving banks is significant. If I’m going to do it at all it needs to be while I’ve got my ire up!
Moving banks is a pain in the butt, that’s for sure. In a way, keeping your accounts with the ASB, now that you have found the free ones, is a subtle blow to overseas owned banking companies. It costs them money to maintain fees free accounts which have bugger all in them, which as we know is offset by the profits they make from mortgages and other products. I keep a few dollars in our ASB fees free accounts but keep any savings and our mortgage with the TSB. An NZ owned bank gets the benefit of our business and the ASB gets stiffed. Highly satisfactory all round. 🙂
Ha, passive rebellion. I like it.