“It’s time to get Dollarmites out of all schools”: CHOICE
The days are numbered for Dollarmites, according to consumer group CHOICE, after the Queensland Government today announced plans to ban bank marketing schemes.
“It’s time to get Dollarmites out of all schools across Australia. Dollarmites is a corporate marketing exercise disguised as financial education. " says CHOICE Banking Expert Patrick Veyret.
“It’s only a matter of time before the other states and territories act on this marketing program targeted at Australian kids. Commonwealth Bank has had a free ride in our schools for over 90 years, signing up customers for life and all the debt that comes with it. Commonwealth Bank should cut their losses, dump the Dollarmites and donate to independent financial education programs instead.”
The news comes following Victoria and the ACT earlier announcing plans to ban school banking.
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