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ANZ, Dr Horn need challenging

Bank Customer Action Collective
Coordinator Suzanne Baker (07) 5781406
Spokesman Gray Eatwell (025) 329491

Media Release

ANZ, Dr Horn need challenging

How far removed from his customers is Dr Horn, Managing Director of the ANZ Banking Group?

Many customers of ANZ pay fees in the hundreds of dollars per month. These customers have never demanded the high cost services as Dr Horn suggested they have.

Nobody on wages can realistically afford the amounts they are being charged by ANZ Bank. From a recent example of a working couple from South Westland, with an ANZ account, fees for one month of $104 84 were charged. These customers can not access the cheap fees quoted by Dr Horn as their branch has been closed.

The account is now managed from Wellington at the banks choice, not the customer's, but it is the customer that pays.

Why don't they change Banks they all say.

Not so easy, as the couple have a loan with ANZ and a bank change would be too costly for them.(Most banks start up fees are beyond their limited resources.)

If Dr Horn honestly believes that real people can have the privilege of accessing their own money through his bank for the price of a cup of coffee we suggest be advises his "important" customers of how they can actually achieve this.

We fail to understand the concern as a "taxpayer" Murray Horn has, when we consider his banks massive profits, that are extracted from his bank's customers, which are all going out of New Zealand to the benefit ANZ's overseas shareholders.

The Business Roundtable may be sucked in by Dr Horns article, but we doubt many of his customers will be, particularly the many customers ANZ inherited from the old POSB and those locked in by "Yes" Mortgages or fancy personal loans.


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