Very unfair, particularly for those that have put money away for their children's education/future etc
Surely there will have to be rules surrounding this change. E.g. The bank would have to attempt contact with the account holder (triggering action from them) before releasing funds to an external party.
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26-02-2013 20:01 #11
26-02-2013 20:56 #12Senior Member
- Join Date
- Dec 2009
Surely you would be contacted first - that's just shocking
26-02-2013 21:00 #13
26-02-2013 21:05 #14
I think 3 years is not a very long time! Maybe 10 years? Not that I think it is ok at all.
26-02-2013 21:11 #15
Im actually wondering just how many accounts havent had ANY deposits or withdrawls in 3 years.
27-02-2013 04:57 #16
I have a st George account since I was a kid. If there's money in there, I'd be surprised, but I actually think it would be in the red because of fees and charges!
I don't see the big deal???
27-02-2013 11:17 #17
I think its a good idea. When you want the money back you just apply for it and its paid back to you with inflation built in.
27-02-2013 11:53 #18
I think it's a terrible thing. We have an ING account that is our emergency account and have already had a phone call to say if we don't "move" some money we will lose it, that's over $10K that the government would take - it's never just as easy as apply for it and get it back, it takes weeks for these things to come through, what if you needed it urgently.
It's just the government desperate to look like they are saving money at our expense, not impressed at all.
27-02-2013 11:56 #19
27-02-2013 11:59 #20
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