Wednesday, December 15, 2010

Banking reform

Westpac Automated Teller Machine (ATM) located...Image via Wikipedia
Wayne Swan has put up a few recommendations for banking reform. One of the most important which I've seen was the account number which you carried around with you. A bit like your telephone number, its yours for life if you want it.

I think this is a great idea! At the thought of moving banks makes me shudder with the work involved. Not only do you change banks, you change how your wages are payed, you change what direct debits are taken out. What a pain.


If you don't like crappy sevice, you can move bank,
If you don't like been on hold for hours, you can move bank,
If there no bank in your area you can move bank, (Westpac has no bank in Phillip Island poplutation 10,000)
Your bank dosn't have an ATM in your area and every time you withdrawal money it cost you $2, you can move banks. (Westpac, no ATM in SanRemo, Newhaven, Rhyll)
Your bank is the first to put up interest rates, you can move banks.

Yes, Wayne Swan and Joe Hockey its time for account numbers which go with you!
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