Bank Bashing on A Current Affair
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I emailed the RBA last month and ask them what the production cost for one [1] Australian $100 note is. They emailed back and told me "between 10 and 20 cents" each.
I might email them back and ask them how much a 20 cent coin costs to make. I'm guessing around 5 cents. Cheap IOU notes not backed by gold since 1933 is great fun, for the RBA.
australiamatters 2 years ago
I too have been mortified by the Commonwealth Early Setlement fees. My mortgage was fixed at 8% in December 2007 and I sold my property recently only to find out this shocking undisclosed $27,000 FEE?
Not only does this break me financially but I feel similar hatred to this Bank and my entire family is in the process of pulling all assets/ funds/loans and investments out of this bank which we've been banking with for 25 years. Is this how Commenwealth treats its loyal customers?
tylerthomaslive 3 years ago
I'm not sure that we can take it for granted that if people were told about large costs to unfix if rates went down dramatically they wouldn't have fixed. The reason why they were fixing was because they were convinced rates were going up, so I wonder really if such a warning would have been paid attention to.
That said, if people were really told that the maximum they would pay to break the contract regardless of the direction of rates was a couple of hundred dollars, heads should roll.
TravisMorien 3 years ago