Bank Profit From Pandemic

Hollywood used to make movies about bank robbers, the bad guys, conveniently forgetting that banks, are bona fide bad guys. The only difference is that bank robbers used guns while banks use pieces of paper. Please sign here.

The pandemic is a good example of how banks continue to rob us. Covid-19 gatecrashed our life in 2020. We were told to avoid touching each other, grandparents, doors, grocery carts that are not sanitized and money, because the virus might be hiding somewhere.

Stores and pharmacies posted signs that they prefer plastic money cards, not cash. Some refused cash outright. This led to the increase use of debit cards.

There are two kinds of people, those that prefer to pay in paper money and silver coins and those that swipe their cards for everything, including a can of soda. I prefer using cash for things under $10, but COVID-19 changed that. Banks could not believe the windfall. They laughed all the way to the bank, if we could put it that way.

How? They charge you if you use your debit more than 16 times a month. My bank does. How did I find out? By scrutinizing my statements. I’m not Alexis Ohanian. I want to know where every dollar goes. I went to the bank to ask about a displaced $20.

They told me that I’m allowed 20 debit card purchases every month. Beyond that, it’s $1.25 every time I use the card. Dumb struck! It’s Covid-19, a health situation. I used to pay cash as much as possible. We are told to use less cash to fight this pandemic.

Banks see it as another window to make more money and it’s all legal. It’s robbery, part of their DNA I suppose. It’s wrong but what can you do? Banks have more money than governments, which makes them God.

By: Nonqaba waka Msimang.