may 09 2006

spotlight on the 'thieves'

here's a informative article about banks and their ridiculous charges.

"Transaction fees are charged on every payment between individuals and dealers from different banks. However, only 2% of the transaction fee goes to Bankserv - the banks involved gobble up the rest."...
i'm hoping this enquiry into the banks actually wields some results. they can't keep taking so much money away from us for the kind of service alot of us have to put with!

oh and right near the end of the article there is this gem:
Banks would rather like to think they compete on the basis of service delivery, not charges."
lol. get real guys. your service sucks and your charges are too high. it's time to stop being so greedy!

Update:
Nedbank increased its headline earnings by 82.9 percent to R1.026 billion for the three months to March 2006 when compared with the same period in 2005. source
increased by 82.9 percent, that's massive! are you wondering (like me) where that massive increase in headline earnings came from?

Posted by sarah | ranting

comments

sarah | 2006-05-12 13:10:54
old mutual isn't one of the 'big 4' banks. it's very refreshing that they can offer a better service at a better price. i had no idea that they had a banking service. i will have to check it out, but i will be wary after what happened to 20twenty...

also, i have managed to contact fnb about incontact not being free from june. it's not true... so i guess some staff members at a certain branch are a little misinformed.
coda | 2006-05-11 00:28:44
How about this..
Old Mutual has slashed its bank charges, long a bone of contention between major banks and mid-market consumers and says it now offers the "best monthly fee"...
sarah | 2006-05-10 07:51:48
i heard that starting in june fnb's currently free incontact service will no longer be free. my brother, des, heard it directly from a staff at fnb when he opened an account there this past week. yet i can only find references to it still being a free service on their website. i will go into the bank (dread) this w/end to find out directly and cancel it, if this is the case. i like how they are not informing their current customers about this...
coda | 2006-05-10 01:17:49
Yeah let's hope..! Otherwise I'm going to invest in some very big shoe boxes.

add a comment

verification image, type it in the box