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17 Nov 2013

Small business owners banking fees are too high.

Australia's 350,000 small business owners are paying up to 10 times more in bank fees than big business, according to data released by the Reserve Bank.The Reserve Bank's Payment Systems Board Annual Report shows that banks charge small businesses as much as 2.0% in interchange fees to process certain credit and debit card transactions, but as little as 0.20% for big business."Australia's small businesses are the engine of jobs growth in this country, but they are simply not getting a fair deal from our major banks," Tyro CEO Jost Stollmann said. Read more...