Showing posts with label ANZ. Show all posts
Showing posts with label ANZ. Show all posts

Wednesday, 11 April 2012

ANZ's Credit Card Overseas Transaction Fee Misleading

ANZ Bank in Australia charge a credit card processing fee. Other than the fact that I don't like being charged it (and its excessive) I don't actually have an issue with them doing so (ANZ struggled with this concept). 

What I have trouble with is how it appears on the statement, this is an example "PAYPAL *ACCESSORYJA 4028358723 INCL OVERSEAS TXN FEE 8.03 AUD".  The last underlined bit is the issue because:
  1. Its ANZ that is charging the fee. 
  2. It implies its NOT ANZ charging the fee. I don't know whether this is intentional or not. I was originally getting upset with PayPal as it looks like a PayPal fee.  PayPal should be complaining to ANZ also.
  3. I can't reconcile the amount I expect to find with the statement value as they differ. I bought an item for lets say $200.01, you can't find that on the statement, it will be something like $220.54.
  4. If ANZ is charging a fee it should be a separate line item clearly indicating who is charging the  fee.
  5. I have been charged this fee many times and figured I'd look into PayPal alternatives at some stage or just use the credit card directly. Now that I know its an ANZ fee and only payable on credit cards I can work around the system so I no longer pay the fee.
I have raised this issue with ANZ and they "welcomed my feedback" but won't do anything.  Apparently they would welcome more feedback so if you also believe the way they handle the fee is wrong please use secure mail in the Internet Banking application or ring them up and let them know you are unhappy, they will reverse the fee (one item only) for starters.  I told them to keep it :-)