Are the banks stealing our money?

Madam – Are the banks stealing our money?

We all know that the fees our banks charge are among the highest in the world. And yet they are not satisfied with that but greedily take more. And this is how they do it:

My balance is R95. The ATM says Available funds 95. So I request R90. Now it says R90 is not available, take R50. O.K. I request R50.

Now it says Exceeds available funds. All of a sudden the “available” R95 has disappeared! Too bad. But in the meantime it has now charged me fees for ‘Declined’ amounting to R5.

The bank has rewarded itself with R5 for being deceitful. Had it been honest in the first place it would have said BALANCER 95 – Available R40.

We must not forget that this scenario plays itself out probably thousands of times every day, often with people who are barely literate, will not complain and will thus become easy and plentiful prey for the banks devious scheme.

M Jende