Bank accused of victimising pensioners
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Consumer groups say pensioners and low-income earners risk losing large chunks of their income to disproportionately high bank fees.
The fees for dishonoured payments and overdrawn accounts range from between $10 and $35 for people with concession accounts.
Westpac and the National Australia Bank (NAB) have already eliminated the fees, but Nicole Rich from the Consumer Action Law Centre says the other major banks must follow.
"We are hopeful that the banks will realise that they do have a responsibility to act in a socially responsible manner," she said.
"Particularly when you're talking about people on a low income.
"The fact that Westpac and the NAB have already moved to remove penalty fees from their concession accounts show that it can be done."
