The new JAB bank campaign against high penalty fees imposed by banks is on the nose. I work in a bank. I earn $21 an hour before tax. I have a home loan, with a standard variable rate.
To keep my job, which is threatened on an almost daily basis, I must make roughly $400 per day in revenue. To put this in context, if I open a new credit card account, or upgrade an existing account to a higher fee option, that’s $50 revenue for my employer. So if I process 8 applications per day, I’m sweet.
Meanwhile, the bank is doing it tough. When we’re short-staffed, we rarely employ a casual for the day because that costs too much money. So we struggle to serve our customers as best we can while they hurl abuse for interest rate hikes and fee gouging. Read more »
