COSBOA supports NAB fee relief
27/01/2010
The Council of Small Business Organisations of Australia (COSBOA) applauds today's decision by the National Australia Bank to abolish a series of fees for its small business customers.
“The Council of Small Business has long campaigned for reduced fees for small business and we are pleased to see the NAB recognise these concerns,” said Jaye Radisich CEO.
“Small businesses have long held concerns about many bank fees which unnecessarily add to the many challenges already confronting small business in Australia. We welcome NAB’s action in this area.
“The abolition of NAB’s dishonor fees, periodical payment deferral fee and cash handling fee will be a big help to many small businesses around the country – up to 500 000 business customers.
“The changes announced by the National Australia Bank show that the bank is listening to concerns being raised by COSBOA and small businesses. The fee relief is a welcome start to the New Year.”
COSBOA CEO Jaye Radisich said the organisation would continue to keep a keen eye on small business loan rates, as well as other fees and charges, which continue to affect small businesses around the nation.“
We remain concerned that small businesses are charged excessively high rates of interest on loans, credit cards and other lines of credit,” Jaye Radisich said.
COSBOA commends NAB's head of Business Banking, Joseph Healy for his leadership on fee relief and urges other banks to follow suit.
ENDS
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