NAB takes award at Sydney ceremony for its Classic Banking bank account.
The NAB Classic Banking
bank account has won an award.
NAB headed the list of
best accounts to take the CHOICE Award - best low-fee bank account, at the ceremony in Sydney.
Such an accolade comes as NAB announced last year it would seek to make
Australian banking fairer by removing unnecessary fees and increasing transparency on
interest rate pricing and it is estimated 97 per cent of all NAB personal
transaction account customers no longer pay monthly fees.
The bank abolished $4 and $5 monthly account service fees, the $30 overdrawn account fee, SMS banking fees and in joining forces with rediATM established a larger ATM network to help customers avoid direct charges.
Last December, NAB revealed the abolition of such fees had led to a direct fall in customers' complaints. The banking institution reported a 40 per cent drop-off in grievances in the month after it had removed the charges.
By Joe Letts
