RETAIL BANKING | Cesar Tordesillas, Australia

St.George heeds customers' calls for lower service fees

St.George Bank of Australia will reduce monthly account service fee from US$5.6 to US$4 per month. Additionally customers who deposit at least US$1610 per month into their account will have their monthly account service fee waived.St.George redesigned its transaction accounts as part of a series of steps taken by the bank to further improve its value to customers."We listen to the feedback of our customers and realised it was time to create an innovative way that more customers could bank fee-free. Customers respond to two key ingredients, service and cost, so this revamp of our Freedom range is designed to add value for our existing customers and to attract new customers to St.George," said Andrew Moore, General Manager of St.George Retail Bank Distribution.The changes for St.George Complete Freedom include waiver of the account service fee if their St.George Home Loan repayment is deducted from the account in that month and the Express Freedom monthly account service fee has been reduced from US$4 to US$2.4 per month."These latest improvements to our Freedom range of everyday transaction accounts demonstrates St.George remains committed to staying ahead of the game through its innovative product offering and valued service proposition," Mr Moore continued.

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