None of us like paying money for nothing, and that's how the majority feel about bank fees.

Now the fee frenzy has prompted a customer revolt, and sparked Australia's largest corporate battle field.

So how can you avoid coughing up any more than you have to?

More stories from Today Tonight

• Class action bank slam
• Banks' tricks and traps
• Declaring war on the banks

Customers across the country are joining the biggest class action in Australian history, to fight seven big banks over late fees.

More than 160,000 bank customers are seeking almost $220 million back.

Paul Gillet from law firm Maurice Blackburn is touring country Australia, and signing on more angry customers.

Do you think the fees your bank is charging are decent?

• Let us know on Facebook
• Let us know on Twitter

"These are the $20, $30, and even $50 fees, which we've all been hit with from time to time - when you're late on a credit card payment, or if you don't have enough money in your account - and they hit a lot of Australians hard," Gillet said.

Fees are the banks’ fastest-growing cash cow. In 2000, total fees amounted to $6.25 billion. Five years later, another $3 billion had been added to their coffers.

2009 was a bumper year, with banks raking in $12.7 billion, which dipped a little in 2010 to $11.1 billion.

More stories from reporter David Richardson

Last year total bank profits exceeded $24billion, with everyday households paying them $1.3 billion.

"We have no objection to banks making a profit. We have no objection to banks charging fees. But if they do so, they have to do it within the law," Gillet said.

Before long as many as twelve banks will be dragged into the country's biggest class action, challenging what customers call illegal fees. In many cases the banks bowing to public opinion and political pressure have reduced fees to lower levels, but they haven't scrapped them altogether.

Today Tonight's latest banking stories

Dan Stinton from Yahoo!7’s Moneyhound has crunched the numbers on the fee carrying deals on the market, and come up with the best and the most expensive.

COMPARISON DATA FROM MONEYHOUND

Top Ranked Transaction Accounts:

• Bankwest Zero Transaction account ($0 monthly fee, $0 for ATM withdrawals from the big 4, but cheque dishonour and replacement card fees are $15)
• HSBC Day to Day account ($0 monthly fee, $0 card replacement fee, but cheque dishonour fee is $40)
• NAB Classic Banking ($0 monthly fee, $0 card replacement fee)

Bottom Ranked Transaction Accounts:

• NAB Gold Banking ($10 monthly fee)

Top Ranked Savings Accounts:

• UBank USaver (Base Rate 5.41%, Bonus 0.60% with savings plan = 6.01% p.a.), and $0 monthly fees
• NAB iSaver (1.35% on top of the standard rate for 4 mths on new accounts = 5.5% p.a.), and $0 monthly fees

Top Ranked Credit Cards:

• Big Sky Credit Union Low Rate Credit Card (annual fee $0, late payment fee $0, over limit fee $0, duplicate statement fee $0)
• NAB Low Rate Visa (annual fee $59, late payment fee $5, over limit fee $0, duplicate statement $7)

Bottom Ranked Credit Cards:

• Citibank BP Credit Card (spending over limit fee = $40, late payment fee = $40, duplicate statement fee $7)

Top Ranked Business/Small Business Accounts:

• Suncorp Business Everyday account ($0 monthly fee, 30 free transactions per month, including counter withdrawals, cheques and external transfers)
• Bankwest Zero Business Transaction account ($0 monthly fee, fee free transactions unlimited free, phone, EFTPOS, network ATM, direct debit, cheque, counter and Bank@Post transactions. Online banking service fee $5 per month, and $0.15 for types of outward transfer)

Bottom Ranked Business/Small Business Accounts

• CBA Business Transaction Account ($10 monthly fee, 20c each electronic transaction, 55c cash withdraw, 55c cheque deposits, 95c for assisted transitions)

Fee breakdown:

TRANSACTION ACCOUNTS

Monthly Fee
Top Ranked:

• HSBC Day to Day Account = $0
• NAB Classic Banking = $0

Bottom Ranked:

• NAB Gold Banking = $10/mth BankSA Freedom Account = $7/mth
• CBA Complete Access = $6/mth

Cheque Dishonor Fee
Top Ranked:

• ANZ Access = $6
• CBA Complete Access = $5

Bottom Ranked:

• Rural Bank Everyday Community Account = $50
• AMP eASYTransact = $45
• Bank of QLD Ultimate = $40
• HSBC Day to Day = $40

Replacement Card Fee
Top Ranked:

• HSBC Day to Day = $0
• NAB Classic Banking = $0
• ANZ Access = $0

Bottom Ranked:

• Bank of Melbourne Freedom Account = $15
• Bank of QLD Day to Day = $15
• Bankwest, StGeorge, Suncorp = $15

SAVINGS ACCOUNTS

Monthly Fee
Top Ranked - all of these have $0 monthly fee:

• USaver (Base Rate 5.41%, Bonus 0.60% with savings plan)
• NAB iSaver (1.35% on top of the standard rate for 4 mths on new accounts)
• Citibank Online Saver (5.80% Variable intro rate for 6 months on balances up to $2 million)
• ANZ Online Saver (6.00% p.a. until 30th June 2012)

Bottom Ranked:

• bcu saver = $6
• Bankwest Instant Saver $3
• NAB Smart Saver $3

CREDIT CARDS

Late Payment Fees
Top Ranked:

• Bank mecu Low Rate Visa = $0
• NAB Low Rate Visa = $5
• American Express Gold Ascent or Velocity Gold = $6

Bottom Ranked:

• Citibank (BP credit card, Emirates credit card, Clear Platinum credit card) = $40
• IMB (Low Rate master card, Gold rewards card) = $40
• Bankwest (Zero card, More card, Breeze card) = $35

Spending Over the Limit Fees
Top Ranked:

• NAB Low Rate Visa and NAB Qantas Gold = $0
• Big Sky, ECU (credit unions) = $0
• Westpac Low Rate card = $9

Bottom Ranked:

• Citibank, CUA, IMB, Suncorp, Virgin Money = $40

Duplicate Statement Fee
Top Ranked:

• ANZ First Visa = $0
• Aussie MasterCard = $0
• Myer Visa = $0

Bottom Ranked:

• Hunter United = $20
• Encompass = $15
• Suncorp = $14
• American Express = $10
• HSBC = $8

Annual Fee
Top Ranked:

• HSBC Credit Card = $0
• Virgin Money no annual fee card = $0
• Bank mecu visa credit card = $0

Bottom Ranked:

• Citibank Select card = $700
• American Express Ultimate = $450
• Westpac Altitude Platinum = $295

All the banks maintain their fees are fair and justified, and detailed in the terms and conditions of every account, every credit card every cheque account, but over 160,000 bank customers disagree, and they’re happy to take on the power of the big banks, regardless of the cost to themselves.

Compare bank accounts, savings accounts, credit cards and more at Moneyhound.com.au

Contact details

• Bank Fees Class Action - www.mauriceblackburn.com.au
• Unfair Bank Charges - www.financialredress.com.au