Quote Originally Posted by blackcap View Post
Indeed Hoop, that is where the problem lies. I know back in the day Direct Broking were being charged an arm and a leg to provide live data to their clients and that is why they had to pass this on, or at least make sure you do some trades, otherwise it would just bollocks them. Everytime someone refreshes a "depth" screen it cost the broker (via the NZX).
As far as ASB go... they know they have you by the short and curly's... there is no one in NZ that is cheaper.. well there is ANZ who are on par, but I think the requirement is now that you must have a bank account with them to open a broking account... so ASB know you are not going to leave regardless. But the 90 day rule is not to annoy, it really is out of necessity.
I have no issue taking my accounts and cash to ANZ if there is benefit from a trading perspective, no problem there. ASB have the right to pass costs on but the issue is they are putting in place a rule that results in not being able to see live data at times and this is wrong. There should be an alternative such as a flat annual fee or something similar for those not trading regularly.

I agree with the cost of doing business posts too, they make plenty of money out of me in other aspects both in the money I have in term deposits and over the period of a mortgage.

ASB are usually better to their customers than this and its not the first time in the last year I have felt their customer services are taking a back seat to rather significant profits......