Monday, 13 August 2012

Banks

I noticed that a complaint had been laid with hellopeter about an increase in bank fees at FNB.
 http://www.hellopeter.com/first-national-bank/complaints/safe-custody-fees-increased-625-without-notice-8479hellopeter.com/first-national-bank/complaints/safe-custody-fees-increased
 I have had a similar experience with FNB's exorbitant increases. Have others also experienced this? Maybe the time has come for people to form a society in which we draw up contracts for our accounts with banks such that our rights are protected. At the moment the legal documentation that we sign when we open a bank account is heavily weighted in the bank's favour. If enough people insist on having their own terms, then perhaps we will be a force that the banks will have to listen to. If a particular bank does not listen to us we can boycott that bank and sell any shares in that bank that we might have owned. What do others think?

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