The National Bank has announced fee removals and reductions, less than a week after sister brand ANZ made a similar announcement with similar reduction in charges.

NZ Chief Executive Jenny Fagg said, "We have always been committed to working closely with our customers and delivering a personal service that they value."

National Bank conducted a wide-ranging review of its fees reduction plans before jumping to conclusion to remove 11 fees and to cut three exceptional fees. Customers, in their feedback, had urged the bank to justify the fees it has been charging.

The bank has scraped 'DIY' fees for online and mobile phone banking. It has also reduced unarranged overdraft fees, dishonor fees and credit card late payment fees but introduced new fees for credit cards. These changes mean a loss of about $30 million a year to the bank.