Ancient CBA Steamline Account - Fees?

Also it was never said she had a financial problem! Paying a few hundred dollars in bank fees is hardly a disaster. Bit of perspective please.

 

You are correct Marty, she does not have a financial problem as such but every bit helps her. TBH she was telling me the storey as a good thing to say "I'm getting money back from the bank". But that is her mentality, I'm a protective son so my first instinct is "is that correct or are you entitled to something else they are not giving you". If they told my mum about the fees and then told her they would stop them, that alone would of made her happy.

Again you say "check her bank statements" but they would not have changed? How does that help her? If the normal 8 years ago was fees and they still apply today then why would she think any different? I take some responsiblity for not checking this for her but in my ignorance I didn't think $400+ a year fees exist for an everyday account.

This thread was started to see if anyone else had experience with this and any outcomes but whilst I'm on it I do think there is a severe lack of responsibility from the banks. If a product is discontinued I believe it should be there obligation to tell there customers. If they choose not to act on it then that is there problem. Even companies like Telstra have now taken this initiative and advise clients of plan changes that save the consumer money.

 

@albanga, I have a streamline account and have had it for years and I don't pay fees at the moment but it's because I don't use it much and mostly have deposits go in. Could it be that your mum goes into the bank to withdraw and transact and they charge a $2 fee each time for using a teller? If that was the case someone should have told her that there is a better alternative otherwise it's preying on the innocent customer.