Wrong PIN costs $2

And you thought that banks in the US were bad ?? Check this out in Australia

Banks have hit a new low by charging fees for cancelled transactions and incorrectly entered PINs, the Australian Consumers Association says.

And most consumers did not know the charges existed, ……… “Although no actual transaction goes through, a fee is charged,” ………..

“The fee simply turns up on their account statement at the end of the month, in addition to any regular transaction and administrative fees.” Dr Coates said the fees, from 60 cents to $2, might be charged for entering a PIN incorrectly, choosing the wrong account type, not having sufficient funds or aborting the transaction before completion.

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