Wednesday, January 30, 2013

Commonwealth Bank having fun on my holiday

Banks must love it when you go overseas. It's a golden invitation to rip you off and add to their multi-billion dollar profits.

I was pretty happy when I got to Indonesia and saw CBA autobanks advertising no ATM withdrawal fees for CBA customers. Unfortunately when I got home and checked my statement it was $2 for each withdrawal. I complained to the bank but they basically told me "tough titties" - hence the angry blog post.

When I didn't use the CBA ATM the fee went up to well over $9 for taking the equivalent of $150 out. To add to the indignity the exchange rate charged was 5% worse than what I could get on the street. So basically the bank is creaming off more than 10% of what you spend overseas. Bastards!

That $2 Bintang really cost me $2.20. That $3 nasi goreng really cost me $3.30. That trip to the hospital following the extreme food poisoning cost me how much? No travel insurance got that one. It's okay.

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