I’ve been carrying on a conversation with a representative of my bank regarding the overdraw fee that the now appropriately monikerd NAB charges.  I asked a simple question – how did you arrive at a figure of $50?  The series of replies I got boiled down to – some of it covers costs, the rest is a deterrent – because we can — we aren’t going to tell you which percentage of the $50 covers our costs and which we pocket as pure profit because we don’t have to.  However, at the bottom of the emails he sends to me is the following disclaimer: Except where this email indicates otherwise, views expressed in this email are those of the sender and not of National Australia Bank Ltd. So, I’ve asked him to clarify whether his replies are those of the bank or his own so that I know where I stand.   Can’t wait to see if I get an answer or not…

1 Comment

  1. He answered! I asked “could you please verify that when you say “we” you speak for the bank in saying that Nab charges a $50 fee because it can not because it is fully representative of the business costs associated with it?” and he said “I have responded on behalf of NAB.”