ANZ is eliminating a controversial mortgage fee amid regulatory pressure and as a response to customers unbundling banking products.
ANZ will kill its Breakfree mortgage offer in March, doing away with the $395-a-year fee which gives customers a discount on standard variable mortgage rates and reduced fees on credit cards or financial advice.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
