With all of these complaints about bank fees and poor service, it is constantly amazing to me that people still even use banks for most transactions. I have an account with a credit union who basically does everything a bank does but doesn't charge so much. There are dozens of credit unions that offer equally good service and low fees. Most people would be perfectly suited to a credit union, but would rather complain loudly about their bank.

I have a chequebook without the fees of a cheque account, I can use any ATM Australia-wide without incurring fees for using another bank's ATM, and several other fees and charges are absent. I have not actually had any problems with this account, and there are no features that would make banking with a bank a better option for me. They have an internet banking service just like the banks.

I do also use a bank though, I have a mortgage with a major bank and use their interest saver (offset account) as a means of paying down my mortgage. Apart from this I seldom ever go into a bank. Except to transfer money around, which I can do over the internet or phone easily enough anyway.

Credit cards are an absolutely wonderful thing, so long as you pay off your balance before the due date. If you pay on time there is no interest charge, so you save on transaction fees and cheques by paying absolutely everything you can on your credit card. It also makes it a lot easier to keep track of your expenses, and provided you are not driven by a pathological urge to spend money whenever you carry your plastic, you can save money by paying attention to where your cash is going.

A credit card statement is how many people first become consciously aware that their daily lunches at the sushi bar down the street are in fact costing them several hundred dollars a month. Add to that the small bonus of the points you get (hey, wow, I spent $45000 already, now I get a free woven straw napkin ring!), it all adds up.

Two good web sites to visit to compare bank products are Cannex and InfoChoice.