Are we getting a fair deal from Aussie-owned banks on our home turf?

Are Kiwis getting a fair deal from Australian-owned banks on our home turf?

BNZ has posted a $1 billion profit, while ANZ just posted almost $2 billion in profit - and one commentator says Kiwi customers are paying more than their fair share towards that.

Kiwisaver expert Sam Stubbs said: "We should be very concerned about this because this is money which is going from New Zealand over to Australia".

"They really are gauging us - some of the most profitable banks in the world - and they're making the most amount of money from New Zealanders."

Mr Stubbs believes we’re paying higher fees, too.

"The banks are making about 25 per cent more from the average New Zealand household than the average Australian household, so you would have to infer from that, yes, New Zealanders are paying more for the same services than they are in Australia."

A recent high-level banking inquiry was damaging, finding industry players ruthless, trampled on consumers and disrespected regulators.

There are calls for a similar royal commission in New Zealand.

Meanwhile, a smaller Kiwi inquiry will report back soon.

Two of the big players have just posted huge profits leading to questions about customer charges. Source: Seven Sharp