Bank customers told #switchdontbitch about bank levy

bank-levy/mutuals/

image
image
expand image

Coining the tagline ‘switch don’t bitch,’ the Business Council of Co-Operatives and Mutuals is urging bank customers to consider boycotting the bank levy coming into play on 1 July by switching to a mutual bank or credit union with higher satisfaction ratings.

Business Council of Co-Operatives and Mutuals chief executive, Melina Morrison said the co-operatives and mutuals body had launched a website to encourage people to switch banks should the big four pass the cost of level onto customers.

“We are urging consumers to switch rather than bitch! And we’re saying that July 1, the beginning of the new financial year is a great ‘line in the sand’ date to make the switch,” she said.

“A quick search will make it patently clear that there are many alternatives and… good deals.”

Morrison said that campaign, which had employed the use of social media tag #switchdontbitch was a stance against further strain on the budgets of working class Australians.

“A 20 basis point rate rise to pay for the levy has already been put on the table,” she said.

“Switching banks is the best way for consumers to make it clear that they are not walking ATMs for the big banks.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 4 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 2 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND