search
ABC News Australia
Trends
- 1Banks cut rewards and free travel insurance as surcharge ban begins●Banks cut rewards programs, free travel insurance amid surcharge ban By Adelaide Miller Sweeping reforms from the Reserv
Sweeping reforms from the Reserve Bank of Australia start this week, banning surcharges on card payments. In preparation, banks are hiking fees and slashing perks, including rewards programs and free travel insurance. Reporting by Adelaide Miller for ABC News highlights customer concerns that banks are offsetting lost surcharge revenue by clawing back benefits from everyday account holders.