NAB gets out bed with other banks…but for how long?

Well for years there was the suggestion that major Australian banks were in bed with each other…so I guess they finally acknowledged this, or at least NAB has. Well seems that like any relationship based on sex or money, things have gone sour!

Aussie bank giant National Australia Bank, has taken the bold step of paying (what?? paying? this is incredible!) the exit fees for those customers who switch their home loan to NAB. Appropriately (or perhaps inappropriately) this campaign was launched Valentines Day.

Shortly after, rival bed mate banker, Westpac announced they will “abolish” their exit fee. I like NAB’s description of “paying the exit fee” rather than Westpac’s of only abolishing the fee.

Sigh.. such is the life of a romantic bank.

Say, wasn’t the Federal Government moving to have these fees abolished anyway?

Weblinks:

• http://nab.com.au/breakup

Above: The original sign. NAB was asking for trouble when they put this up. Too many negative words.

However, I suspect the sign below is what really comes to mind for most people when signing up to a new bank…

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