PLEASE NOTE:

MyNews24 is a user-generated section of News24.com. The stories here come from users.

 
Bheki Dlamini
 
Comments: 12
Article views: 1429
 
 
Latest Badges:

 
View all Bheki Dlamini's badges.
 

Are we really that cheap?

27 May 2014, 08:16
After seeing a commercial from one of the country’s fastest growing banks I couldn’t help notice just how stingy we had become. On the commercial, the bank asked whether bank clients knew what their banks were charging them as bank fees and the majority of the answers were, “I don’t know but I know it’s too much.” How do you know that?

Are we that misinformed? You sign a contact with an institution to handle your finances and yet you don’t even know how much that institution is charging you? Are we that naïve? What happened to reading the fine print?

Ok, great. It has ben established that they pay too much. Why not switch then?I conducted my own informal investigation to establish why people would not change banks. My apologies to my dear friends that answered those questions unsuspectingly. 

Firstly, the fact that a bank claims to be cheap – most people I spoke to don’t want to be associated with a cheap brand. 
Secondly, limited services – This makes sense, but then why would anyone complain about what the other banks, which are offering better services, charge? You pay more for a better service.
Thirdly, people are just not informed when it comes to bank charges. We are quick to sign on the dotted line at the nearest bank without having conducted a proper research.

There were more questions asked and you can even add your own questions to the list, but I discovered that we are ignorant consumers, myself included.

I have never taken banking fees into consideration when opening any of my accounts; it has always been about the service that a bank is prepared to offer me, even though banks are generally terrible at offering services. I mean they are open when everyone is at work and by the time you knockoff they would have been closed for more than an hour. You actually have to take a day off to visit a branch.

Another exception, the bank that raised these questions is open after hours, with some branches opening even on Sundays. Like that was not great enough, the bank actually sent its representatives to my site when 60 or so of my employees needed bank accounts last year.

 Great service right there!

I realised later on though that the outcome of my research was not conclusive. Some respondents were already banking with the so-called “cheaper bank” but still complained about expensive bank fees. Hence my question, “are we really that cheap?”

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.
 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
12 comments
Add your comment
Comment 0 characters remaining

Read more from our Users

Submitted by
JohnDough
Denied access to your children?

I understand that each and every divorce case is different, but the denial of access and withholding of maintenance are way too often used as weapons.  Read more...

6 comments 281 views
Submitted by
lizeka.maduna
Vagrants took to the streets

Scores of Vagrants took to the streets in Durban on Friday. Durban whoonga addicts paraded down West Street to the Durban City hall to hand over a memorandum to eThekwini mayor James Nxumalo.  Read more...

5 comments 338 views
Submitted by
John Madhiri
Freedom of expression

I get the idea that whilst we are free to express ourselves we should endeavour not to be offensive of to incite responses that lead to disharmony! Read more...

4 comments 116 views
Submitted by
Siyabonga Dube
My Father is no different to my M...

As we celebrate women’s month it’s inevitable to not acknowledge the fathers who are heading up households on their own all around our country. Read more...

3 comments 203 views
Mr Zuma has a way

There is still a way out for you Mr President Zuma then walk away (regardless of mistakes you made). Read more...

13 comments 740 views
Submitted by
Trevor McArthur
Defending the opposition

In defence of the opposition to speak freely in parliament without being threatened by the police. Read more...

4 comments 191 views

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

Up to 40% off fashion accessories

Save up to 40% on selected handbags, purses, watches, jewellery and more. Offer valid while stocks last. Shop now!

Save up to R2000 on top electronics

Get every day mind bowing savings on top electronics. Offer valid while stocks last. Shop now!

As seen on TV - New book releases at only R199 each

Get mind blowing book savings on new titles. Offer valid while stocks last. Shop now!

Save up to 50% on Women’s month treats!

Celebrate the awesome women in your life with awesome treats like beauty products, fashion accessories, bestselling books, electronics and more. Offer valid while stocks last. Shop now!

Up to 60% off - clearance sale!

Save up to 60% on appliances, books, electronics, toys, movies and more. Offer valid while stocks last. Shop now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

 

services

E-mail Alerts The latest headlines in your inbox

RSS feeds News delivered really simply.

Mobile News24 on your mobile or PDA

E-mail Newsletters You choose what you want

News24 on your iPhone Get News24 headlines on your iPhone.

SMS Alerts Get breaking news stories via SMS.

Blogs Your opinion on you, me and everyone.

Calais Website keywords automated by OpenCalais.

 
Interactive Advertising Bureau
 
© 2014 24.com. All rights reserved.
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.