IN YOUR CORNER
WENDY KNOWLER | Initiation fees are all the rage — everyone’s doing it. Must you too?
Banks say initiation fees are the law, but the National Credit Act actually states banks ‘may’ charge an initiation fee
13 February 2022 - 16:19
As grudge payments go, admin fees are right up there.
In the past year or two, among the most hotly contested admin fees has been the service fee which is added to Edgars accounts every month. People who hadn’t been able to shop thanks to the hard lockdown were surprised to find that they were still being billed every month — for a service fee, and often for a club fee and various insurance premiums...
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