I think it can be $1, we transferred $10 just to be sure. I just think it's terrible and going to end up being an administrative nightmare to get back, like trying to get your lost super is. Heaven forbid in another 3yrs you forget to do it and then it's gone. I just don't think it's right.
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Results 21 to 30 of 31
27-02-2013 12:05 #21
27-02-2013 12:07 #22
3 years is not long at all?? What the?!?
27-02-2013 12:08 #23
I wonder if they inform every time before they take it or if after a certain amount of times they dont bother informing.
27-02-2013 12:11 #24
I find it quite shocking really?! Is the government that desperate for money?
I need to work out if we have any accounts that haven't had any active movements in the last 3 years!?
27-02-2013 12:12 #25
How else do you think the government will "make a surplus"- oh, they'll be soo clever!
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27-02-2013 12:13 #26
I'm not surprised though. Rudd put Australia into so much debt they need to take more money off us.
27-02-2013 12:17 #27Senior Member
- Join Date
- Aug 2009
That's just freakin' outrageous.
Yes, you can put one dollar in, but why should you have to?? It's your money, your savings, your bank account that you pay fees for. The government has no right to it, they already tax whatever interest is earnt by the money in it because the interest is classed as an "income". But why should they be allowed to touch the principal!? Grr.
This is thievery.
27-02-2013 12:50 #28
Well I don't know about anyone else, but my husband has already received 2 letters from his bank saying to call in and close the account or deposit $1.
This is the commonwealth bank. I don't think the banks will let it go without notifying customers as they will lose money too.
27-02-2013 13:59 #29-
- Join Date
- Aug 2010
After speaking to my folks the bank is always contacting them to move their money,lock it in for a certain time and then move it again. Something to do with interest, the bank being able to use it and so it stays active. It's a lot of money my dad got after he retired, it's not put into an investment anymore because when the gfc hit the bank kept their money (and they're still struggling to get it back) so they just want it in a regular account they can access, but the bank still keep on them about it.
I guess the days of putting your money in a bank so it stays safe is over.
27-02-2013 14:16 #30Senior Member
- Join Date
- Jun 2009
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