Australian banks pocket $1.6 billion as hidden fees replace banned credit card
Australian banks are generating $1.6 billion from fees and charges following the removal of credit card surcharges, with consumers bearing the costs through higher prices. The Reserve Bank's ban on surcharging has shifted charges into base pricing, though some argue increased transparency now reveals hidden transaction fees previously concealed from customers.
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Published 17 Oct 2026, 07:30 UTC · Updated 17 Oct 2026, 07:40 UTC
Summary by OZbrief Editorial. Original report: SMH. Editorial policy · Corrections
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