Mmastodon BusinessPersonal Finance first seen 12 h ago, last 1 h ago, peak #4

Australian banks cut rewards and travel insurance ahead of surcharge ban

Original: Banks cut rewards programs, free travel insurance amid surcharge ban By Adelaide Miller Sweeping reforms from the Reserv

Sweeping reforms from the Reserve Bank of Australia take effect this week, banning card surcharges. In preparation, banks are raising fees and slashing perks, including rewards programs and free travel insurance. The changes have sparked debate about whether consumers will really benefit, with critics arguing banks are offsetting losses by clawing back benefits elsewhere.

Why now: New Reserve Bank surcharge rules take effect this week, prompting visible changes to bank products and fees.

Reserve Bank of AustraliaAustralian banks

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• Banks cut rewards programs, free travel insurance amid surcharge ban By Adelaide Miller Sweeping reforms from the Reserve Bank start this week, as banks hike fees and slash rewards programs in preparation. https://www. abc.net.au/news/2026-09-28/sur… · abcfeeds@rssfeed.media · 1

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