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The print in red has been copied from the enquiry and pasted.


No one likes Banks.

Well hardly anyone does. However I did until I dealt with NAB.
I lived in Finley and had good rapport with all the managers who served there. Even though when I started business I was charged exorbitant fees for my overdraft. When I exceeded the approved limit I was charged 24% interest. Now that doubles the debt every 3 years. That was standard interest by all banks back in the early 80’s and I’m not dark about it. The local managers were excellent and tolerant. However in the mid 90’s the bank decided they could do without a manager and the service along with cooperation severely declined. Next the branch was closed and an agency installed. Later even the agency was closed.
In ’95 I sold my business and later moved 12 miles south to live in Tocumwal. There was a bank there, not Wespac (sometimes called wolfpack) the company I had banked with for all those years, but NAB. So I opened an account there. A personal account and a business account. Shortly after my business account went missing. Yes it had gone. After some searching it was found to have been transferred to another branch namely Deniliquin, some 50 miles away. No discussion or consultation whatsoever. The explanation was the branch operated business accounts and they figured more suitable for me. Well I did business with them and yes you won’t believe this, my account went missing yet again. Another search. It had been transferred to Finley where I had lived just 2 years before. The explanation, it was located closer toTocumwal. Well I got to know them a little and, you’re not going to believe this, it went missing again. This time transferred to Cobram Vic. I didn’t ask why because it was my intention to close it. I also remember being charged $30 if I ran my personal account to overdraft because I hadn’t made provision for such. This was despite the fact I had considerable money in my business account. When I spoke to the manager she advised me to manage my money better.
I closed my accounts and opened with my sons employment banking society in which I was eligible. No trouble since. Don’t you think I was tolerant in staying with the NAB during those uncalled and unwanted changes of branch?. I feel I was treated with contempt. How would you feel?
As I write, banks are facing a Royal Commission into misconduct in banking, superannuation and financial services industry.

What have we found outso far?
We’ve heard evidence of appalling behaviour by Australia’s major banks and financial planners from the past decade, including alleged bribery, forged documents, repeated failure to verify customers’ living expenses before lending them money, and misselling insurance to people who can’t afford it.
In this week’s hearings, AMP admitted to lying to regulators, and the Commonwealth Bank admitted some of its financial planners have been charging fees to clients who have died.
AMP’s chief executive became the first high profile casualty of the commission announcing he was standing down from the company with immediate effect.


The term financial adviser is a phoney for they are simply product sellers.
CEO of AMP resigned and board resigns.
CEO NAB steps aside.
CBA CEO left and CFO resigned.
Westpac is proving grubby but I am not aware of resignations.
ANZ Receiving a grilling. Amongst grubby practise is the charging accounts of the dead for practices or procedures that didn’t exist.
Altogether there has been hundreds of resignations and firings.
Copied from findings, here below.

Much of the royal commission has been concerned with scandals around "fee for no service", where customers were charged without a service provided.
Although it was originally thought to be a $200 million problem, it's now expected AMP and the banks have stolen more than $1 billion from their own customers.
Commonwealth Bank took it to the next level, taking money from customers who'd been dead for up to a decade.



Grubby?