Hidden Bank Fees

ran away from my ex-bank, although I still use its credit card.  I thought my new bank is perfect because it doesn’t charge me R117.16 for insufficient funds (R80) like my ex-bank.  Yes I didn’t have R80 for my internet account for some reason.  These things happen you know.  Money is here today, gone tomorrow. 

I don’t think my new bank is perfect anymore.  I changed my mind recently when I requested a bank statement and realised that they charge me forty cents when they send an SMS or text message about activity in my account like withdrawals and deposits.

It might look like a small amount but it adds up.  My new bank is a no-frills bank.  It doesn’t send monthly statements and it doesn’t have credit cards.  It doesn’t have foreign exchange and business accounts.  It doesn’t guillotine you for putting money into your account and for withdrawing it.  Call it a bank for the people.  I was pleasantly surprised the other day when I saw the manager of the post office I use regularly, leaving the bank.

Hidden bank fees

I was therefore disappointed when I discovered that my new bank has bad habits like major South African banks.  Why on earth does it charge me forty cents for sending an SMS about how much is remaining in my account?  The point is, banks offer you all these services but they don’t tell you that they come at a cost. 

Nobody told me about the forty cents when I opened the account.  This is highway robbery because most cellphone carriers offer us free text messages now.  They are at each other’s throats.  Thank god for competition.  That is why we get freebies like free SMS or text messages. 

Banks ignore all that and charge me forty cents for an SMS.  I must forget my intention to go to Toronto, Canada for CARIBANA at the end of July.  I don’t have enough for the airline tickets because so many forty cents are milked from my account every week.

Akukho soka lingenasici.  It literally means there is no lover without a blemish or weak point in my language isiZulu.  Nobody is perfect, but my new bank is still better that my ex-bank.


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