Thursday, January 24, 2013

The banks are milking from our simple people

Thursday 24th January 2013

I WOULD like to express my frustrations over the banks attitudes regarding their services to the people who give them business.
Most of all, it is the small people who deposit in small sums that adds up to the banks declaring multi-million kina profits in PNG which adds to the multi-million dollar profits declared worldwide. It is with great sadness to say that in normal circumstances it is usually the “hand that gives which is above the hand that takes”.
In the banking situation, it is the hand that takes that makes life for the small people more difficult by making them stand in lines for hours to deposit more money for the banks to use or withdraw their money from their savings.
The service sector of the banks are down to zero or below zero when comparing with banks overseas and using a scale factor to ten(10)..
As one of the famous Federal Reserve Bank governors of the USA predicted, and I quote; “The rich will strive to establish their dominion and enslave the rest. They always did and they always will....!” The government of the day seems to be living in oblivion unaware of the situations the people are going through. All the fees when one takes out his or her money from the bank using the ATM or withdrawing from the counter is just too much. Just for letting your money in the bank incurs fees also. On top of the tax the people are paying from their salaries or from purchasing we pay the GST tax, we are again burdened with these usually unscrupulous fees.

Riwi Rindi Kiunga, W.P

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