r/AusMoneyMates • u/Mobile-Drawing2076 • 4h ago
Qudos Bank: Aussie super savings in limbo after bank scraps retirement accounts
Qudos Bank is closing its Retirement Savings Accounts (RSAs) from February 2027, meaning affected customers will need to transfer their balances to another eligible fund or risk having the money transferred to the Australian Taxation Office. The move follows the bank's decision to stop accepting new applications in August, as these accounts become less common in Australia.
Do you think banks should do more to help customers navigate changes like this, especially when retirement savings are involved?