Mmastodon BusinessPersonal Finance first seen 6 h ago, last 59 min ago, peak #4
Australian banks slash rewards ahead of card surcharge ban
Original: Banks cut rewards programs, free travel insurance amid surcharge ban By Adelaide Miller Sweeping reforms from the Reserv
Sweeping reforms from the Reserve Bank of Australia take effect this week, including a ban on card surcharges. In preparation, banks are hiking fees and cutting rewards programs and free travel insurance. Customers face losing frequent flyer perks and complimentary cover as lenders offset the cost of the changes, prompting frustration among cardholders.
Why now: The Reserve Bank's surcharge ban starts this week and banks are passing costs to customers by cutting perks.
Reserve Bank of AustraliaAustralian banksAdelaide Miller
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- Banks cut rewards programs, free travel insurance amid surcharge ban By Adelaide Miller Sweeping reforms from the Reserve Bank start this week, as banks hike fees and slash rewards programs in preparation. https://www. abc.net.au/news/2026-09-28/sur… · abcfeeds@rssfeed.media · 1
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